Crypto Academy Week 5 Homework Post for [Professor @besticofinder] @yolimarag

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(1) What is cloud mining?

Cloud mining is about renting a mining machine or renting hash to companies that are in charge of it, so that they work them without investing in Hardware and when the minimum amount is met they cancel us the payment mined in the Wallet.

The user looks for a company that rents these services, they register and sign a rental service contract where the mining services are used, the user can rent several equipments at the same time. The amount to be invested will depend on the contract to be purchased as there are several types of contracts.
This type of mining is 99% fraudulent so it is not recommended.

(2) What are the best cloud mining platforms?

According to the latest cloud mining surveys on google you can find the following list:

1. StormGain
2. ScryptCube Cloud Mining
3. Genesis
4. Nicehash
5. HashFlare
6. Hashnest
7. Eobot
8. Hashing24
9. CCG Mining

Each of them have different methods used, their advantages and disadvantages, which you can observe in this link

I have worked with NiceHash number 4 and I have found it to be really good, I no longer rent the service since I was able to buy a computer (hardware) but I use the pool of this platform.

_{Fotos de mi propiedad, tomadas con mi Samsung A20S}

(3) Analyze the advantages and disadvantages of cloud mining.

Advantages:

• We don't have to invest in equipment only in rental.
• We do not have to be aware if the equipment stops working.
• We save electricity.
• We do not have the perennial noise of the machine.
• You don't need to have basic knowledge or be an expert.

Disadvantages

• We cannot see if the generated profits are the correct ones.
• They can be a fraud.

In conclusion for me, if a person does not have the means to invest in equipment, he can rent any of these mining agencies, but I prefer to invest in physical equipment and be able to see how the machine is generating day by day, regardless of the expenses that this generates, of course this will depend on each person and their perspective.