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 CLOUD MINING

•  Cloud mining is the process of mining cryptocurrency by renting computational power from another source, such as a cloud mining service provider. Traditional means of mining crypto often require expensive computers, which use up a lot of electricity. This also leads to difficulty in sustaining and making a profit.
  
  
  

IS CLOUD MINING PROFITABLE?

•  Yes, it can be. There are upfront costs – you’ll have to pay to rent these miners, and mining pools can also take a cut of your profits. It can be worthwhile, but some analysts think you might be better off just buying bitcoin instead.
• Your profit will depend on the power of the miners used by the pools – newer miners will boast better specs than older models and will likely generate higher returns – and the state of the market. For instance, if you choose to hold onto your bitcoin instead of selling it for regular money, like the U.S. dollar, you’ll remain exposed to the price of bitcoin.
• Different coins pose different currency risks because the market for each can fluctuate wildly. Over time, all of these small differences can compound if you rent miners with greater hash power.

IS CLOUD MINING RISKY?

 Cloud mining is risky insofar that you are relying on someone else to mine cryptocurrency, without ever actually checking they own the hardware necessary to mine bitcoin, or whichever coin you choose.

Lots of fraudulent cloud mining services claim to be mining bitcoin on your behalf yet just suck up your money instead. USDminer is one of many examples. They often operate completely anonymously, making it impossible to know who manages the platform, and promise extremely high rates of return over a short period of time.