The word Cryptocurrency is not new as this is the new word that is buzzing around these days. But what is Cryptocurrency Cryptocurrency is any form of currency that exists digitally and uses cryptography to secure transactions and make a profit. And like a stock exchange for the transactions, cryptocurrencies can be bought or sold at the Cryptocurrency exchange. There are many exchanges from which a person can buy or sell, but Ku Coin, which started in 2017, is one of the most reliable exchanges. The reason being this exchange has widely distributed visitors, as TokenInsight reveals. Furthermore, the variety of coins offered by KuCoin.It has also launched ways to expand passive income avenues like cloud mining, Bitcoin cloud mining, and many more.
Before we go much deeper in understanding how to earn money, let’s understand the term Cloud mining. Cloud mining is a process of mining a cryptocurrency, such as bitcoin, using rented cloud computing power. This can be done without installing and directly running the hardware and related software. Some of the benefits of cloud mining are Steady Earnings meaning the user will get a guaranteed income, less maintenance cost, and it is easy to use. One can start mining through a one-click cloud mining subscription.
Furthermore, cloud mining platforms are vast; one can mine different crypto coins on a single platform. Thus adding to the profit-making factor. Another benefit of cloud mining is its referral program offers. Thus by referring to cloud mining to the people, a certain percentage of the profit earned by that person.
Now Let’s Look At Bitcoin Mining?
Through Bitcoin cloud mining, new bitcoins are made. This is done by solving puzzles. It consists of computing systems equipped with specialised chips competing to solve mathematical puzzles, and it is necessary to maintain the blockchain upon which Bitcoin is based.
What Are The Advantages Of Bitcoin Mining?
Though there are numerous benefits, some include that one can earn Cryptocurrency without putting down money for it by mining. Furthermore, miners also get bitcoin as a reward for completing “blocks” of verified transactions. How is it profitable? Let’s see? Bitcoin block reward is 6.25 coins, and with the increase in the cryptocurrency bitcoin price, mining operations will benefit.
Let’s Study The Cost Of Mining A Bitcoin?
The cost to mine a bitcoin is between $7,000-USD 11,000 and is profitable as the price of bitcoin is $56,000.
Thus KuCoin is a fantastic exchange with many excellent features to offer; now has also launched the BitCoin cloud mining feature. Thus one can earn more profit even if the person is not actively trading. Isn’t it exciting? The process of mining is simple. One must register a KuCoin account and click the navigation bar after logging in. The next step is to click ‘Finance’> ‘Cloud Mining.’ Then enter the Cloud Mining ‘Store’ page. Thus after choosing the products, click the ‘Buy’ button. Thus enjoy mining.