Bitcoin was initially adopted by a small group of miners, most with a high degree of technical skill. Eight years later, that group of miners has greatly expanded as new cryptocurrencies enter the market, but still, must have a high degree of skill - or willingness to learn. Sometimes a potential miner wants to participate but doesn’t want to deal with all the equipment and the spike in electricity costs or climb the steep learning curve.
New cryptocurrencies such as Zcash provide a opportunity for miners. Miners who don’t want to invest in equipment, but do want to get started relatively quickly, can take advantage of cloud mining for Zcash. But what is cloud mining, and how can you get started?
Cloud mining is a method that allows people who don’t want to mine using traditional methods to gain quick entry into the market. Cloud miners avoid spending on typical upfront and ongoing costs, such as equipment and electricity bills. The cloud mining provider purchases and houses all the equipment and pays maintenance and ongoing costs.
For example, with Zcash mining, you sign a contract and start mining right away. Zcash rewards are paid on a regular basis in accordance with the agreement. No equipment other than a basic PC to simply track and monitor the status of the service and mining outputs is required.
A cloud-based option provides miners with more choices, but no one approach is right for everybody. So how can you be sure that cloud mining Zcash versus Bitcoin, Ethereum, or another popular cryptocurrency is right for you? This option may be the best choice if the following are true:
The cost of electricity and equipment are not factors if you use Zcash cloud mining, but you do need to purchase a cryptocurrency mining contract. The cost of these contracts varies based on the per-hash basis and the time period in which you purchase. For example, Genesis Mining offers contracts that span two years or longer without any fees to cut in to your zcash mining rewards. Visit our pricing page for more information.
Zcash is a relatively new cryptocurrency and has captured a lot of attention - which is why both experienced and new miners are considering it. But not all Zcash cloud mining providers are created equal, so it’s important to compare the contracts carefully - and ask questions that are key to success. For example, how secure are the funds in your account? What is preventing them from getting hacked?
With the right provider, Zcash cloud mining is a simple and straightforward way to get started with mining without committing a lot of time or space to housing equipment.
What Is Genesis Mining? Genesis Mining offers you a smart and easy way to participate in mining. Our solution is suitable for those who are new to the world of cryptocurrencies, as well as for cryptocurrency experts and large-scale end users. Genesis Mining is the world’s first large-scale, multi-algorithm cloud-mining service, offering an alternative for those who would like to engage in bitcoin and altcoin mining.
For more information, visit us at www.genesis-mining.com today.