How it works?
Perhaps in 2024 everyone in the world heard about cryptocurrency, mining and Bitcoin. However, far not everyone knows how to effectively use and earn them. yofram.com offers to become your guide to the world of cryptocurrency mining. We will talk about how it is profitable to mine cryptocurrency and why cloud mining is better than mining at home. If after reading the article you still have questions you should contact support. We are always ready to help you.
What is cloud mining?
What is it?
Cryptocurrency mining is a rather complicated process. In order to mine cryptocurrency on your own, you need to purchase expensive equipment, properly configure its work, constantly maintain it, be prepared to pay large electricity bills and only then make a profit and look for where and when to exchange the mined cryptocurrency and get the highest profitability.
Mining at home is inconvenient due to increased electricity consumption, as well as due to the high noise level. This implies the need to find a separate room as well as personnel who will monitor the equipment operation and maintain it around the clock. People who are professionally involved in cryptocurrency mining build separate farms far from settlements and earn money on cryptocurrency mining personally or they sell mining power.
People who want to earn on cryptocurrency mining but are not ready or don't want to place equipment on their own can purchase mining power using the cloud mining service.
Advantages of Cloud Mining
Low entry threshold
You can understand how the cloud mining service works in a few minutes. For comparison to understand how to assemble and set up a mining farm on your own it may take several days and in some cases even outside help.
Equipment placement
The equipment is located on the territory of a mining farm. No need to solve problems with the placement of equipment, payment of electricity bills and noise reduction to an acceptable level.
Availability
The cost of mining equipment is quite high. As a rule, about $ 1,000 is required to start mining. You can start earning on cloud mining with much smaller amounts.
Low payback period
Mining at home involves a payback in a year. Provided that the network complexity, hashrate and cryptocurrency rate don't undergo significant changes over this period. Otherwise, the payback period may be delayed indefinitely. Cloud mining services offer payback within 3-4 months which is significantly more profitable. You can start earning in month after the purchase of mining power.
How to get started?
yofram.com offers the most favorable and fair working conditions for all its partners. You can earn up to 7% per day using the purchased power. In order to start making money with yofram.com you need to pass registration, enter your personal account and replenish your account balance.
After the deposit is credited to the account you need to enter the “Buy the power” tab at your personal account and purchase mining power for the algorithm that allows you to mine the cryptocurrency you need. This is an important step as it determines the pool of currencies that can be mined. It will be impossible to change your choice.
When the power is purchased it is necessary to enter the "Mining" section and set the mining of the necessary currency. After that it remains only to wait until the amount to withdraw is accumulated and withdraw your profit to your wallets.
The future of cloud mining
With increasing of the network complexity and the overall hashrate the power of the equipment and its quantity are increasing. If not far than 5 years ago it was still possible to mine cryptocurrency at home, it is almost impossible to do this now since there is no way to create acceptable conditions for cooling equipment and supplying it with electricity.
Mining farms are move out of the city and power is acquired through cloud mining services. This is a future that is becoming real right now.
