The growth of cryptocurrencies as currencies, platforms, and even complicated financial products has been spectacular, and it has brought with it investment opportunities. However, because of the volatility of crypto, investing and profiting in it is not free of risk.
In Autumn 2017, 1 Bitcoin was valued at around $7000 and climbed to an all-time high of $20k, indicating a 300 percent return for those who purchased at $7,000. However, cryptocurrency volatility entered the scene at the start of 2018, with BTC plummeting to around $6000, resulting in a disastrous deal for investors who bought at $20k, expecting a large profit.
As an investment alternative, cloud mining is a far more secure method to invest in bitcoin and receive consistent passive income.
First and foremost, What is Cloud Mining, and How does it work?
Mining is the process of producing more Bitcoins, Ethereum, or Litecoin through a computational process. When miners successfully demonstrate proof of performing complicated computations in Blockchain algorithms before anyone else, they are rewarded with these coins.
But, with time, as cryptocurrency grew in value, the method of producing it grew more complex as well. Unfortunately, over time, the energy and computer power required to run a sustainable mining operation outpaced individual effort, particularly for people who used it as one of their many income streams.
Why Is Cloud Mining the Best Way to Earn Passive Income?
The difficulties of buying and operating pricey equipment to manage a data center for a mining enterprise should not be part of earning passive revenue. When you have cloud mining, you can make use of a cloud mining service, and you’ll be on the road to making a profit.
Both crypto aficionados and non-techies are welcome to try:
You won’t have to deal with technical equipment or surroundings if you use cloud mining. Furthermore, even individuals who are not tech-savvy but are interested in the profitability aspect of Blockchain algorithms may make money here by simply subscribing to proxy mining services provided by numerous cloud mining websites.
Flexible investment possibilities: When it comes to cloud mining, you have a lot of alternatives. You may invest in Bitcoin, Ethereum, or Litecoin, or you can spread your money across all three to avoid placing all your eggs in one basket.
Binding contracts provide a greater sense of security: Cloud mining contracts provide security to both crypto-savvy investors and non-tech savvy investors by allowing them to know what to expect from every investment in terms of hashing power rates and duration.
Although there are a number of cryptocurrency investments to select from, the most are ‘high risk, high return,’ meaning you might earn a huge profit as well as a crash to the ground.
But, if you want to invest in Bitcoin as a genuine source of regular, passive income, you should use a cloud mining service from a company like Stormgain.
Stormgain is a leading cloud mining firm that enables you to earn a consistent, passive income by doing nothing. StormGain charges feasible commissions, which is also an added advantage. StormGain fees are low, and these low trading fees translate into profits. Besides the good leverage options and the low fee, every StormGain account gets access to best-in-class tools for investing in crypto assets.
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Source: Cloud Mining: How to Make a Consistent Passive Income