DeutschIn practice, there are now two fundamentally different types. On the one hand, you have the option of taking the extraction of new coins into your own hands. This is the classic variant and is nowadays referred to as solo mining. This means that you create all the technical requirements yourself and operate the mining independently of other people. The other variant is so-called cloud mining. In this case, you join a community and do not have to provide your own computing capacities.
Properties and Characteristics
In general, mining is about creating new coins. For this purpose, computers with specific hardware and software must solve special computing tasks, and you will then receive the corresponding coin as a reward. This is how both solo mining and cloud mining work as an alternative. In order to participate in solo mining, the following requirements must first and foremost be met:
- High-performance computer
- Special graphics cards or complete computer
- Software
- A wallet to store the mined coins
The problem for many interested parties with solo mining is that it is relatively cost-intensive. You not only need special hardware in the form of certain graphics cards or a complete computer, but there are also considerable ongoing electricity costs. However, solo mining is currently becoming more worthwhile again in detail, which is mainly due to the significantly increased prices of numerous cryptocurrencies.
Cloud Mining: Mining in the Community as an Alternative
If you are generally interested in mining but shy away from the costs and effort of solo mining, the so-called cloud mining has been an option for some time. The cloud is a community that you can join. You do not need your own computing capacities, but instead you conclude a contract with a so-called cloud mining provider. This provider takes care of the entire mining process with all administrative activities.
As a customer, you only have to transfer the investment amount you want and will then be rewarded with regular income in the form of proportionally shared coins. There are now various providers on the market, so it makes sense to compare the offers. You should pay particular attention to the calculated yield, the contract term and the type of cloud mining. There are two variants in this area, because you can either buy computing capacities (mostly for life) or rent the computing power provided.
