- The trend of BTC mining is moving towards being institutionalized and professionalized.
- Users can purchase a cloud mining contract through the platform and rent hashrates.
- Cloud mining may become one of the best choices for average users to hedge against risks.
The impact of the Terra stablecoin collapse may continue to ripple in the crypto industry in the next few years; this may cause permanent damage to the DeFi landscape and give poor perceptions of decentralized stablecoins.
Recently, Vitalik Buterin mentioned that he wishes to see the Ethereum network become more similar to that of Bitcoin. He made emphasis on long-term stability, including cultural stability, and mentioned that he hopes Ethereum will be a Layer 1 network that survives under extreme conditions. This event proves the stability and security of BTC using the POW mining method.
Currently, the trend of BTC mining is moving towards being institutionalized and professionalized; the barrier of entry to BTC mining is quite high. It is often very difficult for the average user to invest in mining. Cloud mining can offer the average user a one-stop shop for mining services.
What Is Cloud Mining?
Cloud mining is a remote mining model. Users who wish to participate in mining can purchase a cloud mining contract through the platform and rent hash rates. Users no longer need to purchase expensive mining equipment, and the barriers to entry are extremely low. All users can then become miners and maintain the BTC mainnet together to safely earn BTC.
What Are the Advantages of Cloud Mining?
Low Investment Cost and Low Barriers to Entry
Compared to professional mining machines, cloud mining offers an even lower barrier to entry. Investors do not have to invest a lot of money to buy expensive mining machines and build mining pools, etc. They only need to buy cloud mining contracts and pay electricity fees to participate in mining, with no other constraints. With the current increase in energy prices and suitable mining farms in extremely high demand, cloud mining has become the optimum choice.
The purchase of cloud mining products can effectively prevent the loss of revenue due to power outages and faults, mining machine maintenance, natural disasters, and other accidents and generate more stable revenue.
Easy to Operate
Users do not need to have an in-depth understanding of mining machine principles, various hardware and software operations, and complex mining processes. With a one-click subscription, users can easily start cloud mining while the maintenance and operation of all mining machines will be handled by the KuCoin Cloud Mining team.
Enjoy Personal Revenue in the Cloud Mining Market
Some platforms will take 50% of the profit generated by the user’s cloud mining investment. Some other platforms allow their users to enjoy 100% of their cloud mining earnings, such as the KuCoin Pool platform.
Earn More BTC With the Same Investment Amount
Mining is equivalent to purchasing BTC at a discount. Currently, if you spend the money on buying one BTC, you can mine more than one BTC. Mining is saving your time by investing. You don’t need to worry about short-term market volatility. Mining gives you stable revenue. The mining industry is maturing and regulated by the day. Big scale and legitimate mining platforms on the market today all directly connect to mining pools to proceed with mining. The production is all the same and are all transparent to the general public.
Taking all the advantages of cloud mining, it is very suitable for investors who want to participate in stable and secure mining programs for the long term but don’t have a lot of funds, or also for those who do not have a deep understanding of the mining industry. In addition, faced with the extreme facet of global inflation and the plummet of the capital markets en masse, cloud mining may become one of the best choices for average users to hedge against risks.
As one of the top 10 mining pools in the world, KuCoin Pool officially launched its cloud mining products in March 2022. Several stages of cloud mining products have been listed and sold out in several seconds. According to the official announcement, KuCoin Pool’s new stage cloud mining products are available now. Users can purchase hashrates on the KuCoin Pool platform till June 4 with zero barriers and low costs to acquire stable BTC revenue. In addition, the cloud mining commission feature of KuCoin Pool is now live. All users will now be able to generate their invite link, invite their friends to purchase cloud mining products, and earn BTC commissions.