Bitcoin has been the driver for a whole new group of individuals who are hoping to make money from mining cryptocurrencies. But taking on the challenge of doing this comes with a necessary degree of learning and some upfront investment. You have to buy computer equipment and then there’s the extra cost of electricity while you’re running your setup day and night.
In some ways, the boat has already left when it comes to older currencies like Bitcoin because the rewards are lower now for the same amount of effort, but newer ones like Zcash can still offer opportunities for new miners. If you don’t want to splash out on a ton of new equipment but you do want to get started fast, cloud mining for Zcash could be just what you’re looking for. But what is it and what do you need to get started with cloud mining?
As with cloud computing in general, a service provider buys and maintains all of the computer hardware. The cloud infrastructure means that computers are linked together in one place, and the system is designed to be heavily backed up, heavily secured and extremely scalable. Cloud mining means mining using one of these data centers instead of on a rig of your own, one that you had to buy and maintain. So, cloud mining means you don’t need to buy equipment and run up your electricity bill. Someone else will look after all of that for you.
With Zcash mining you can sign up and get mining straightaway. You’ll regularly receive Zcash rewards as laid out in your service agreement. The only computer you need to invest in is the one on which you keep track of the service and your mining outputs.
Cloud mining gives miners a lot more choices, but there isn’t one that will suit everybody. If you want to know whether cloud mining Zcash instead of Bitcoin, Litecoin or any of the other cryptocurrencies is the right approach for you then consider these options:
You don’t want to listen to fans all day. Mining computers create a ton of heat and they need a ton of cooling to get them working. It’s noisy and expensive to run so many fans day and night, and all that waste heat is going to turn your house into an oven. Cloud mining might be the better option if you don’t want perpetual summer.
If you don’t live somewhere where electricity is cheap, then it might not be worth your while mining at home. Cloud mining centres—and data centres in general—are deliberately located in places where cheap cooling and electricity are abundant.
If you don’t like dealing with lots of equipment then Zcash mining could be for you. The bar for entry is low because you won’t need to buy lots of powerful and expensive ASIC boxes (the kind used most used with Bitcoin) to get started. You can get going with only a basic CPU or a GPU, but if you don’t like the idea of buying and looking after all of that stuff, then cloud mining might be your best alternative.
Zcash cloud mining, may spare you the hassle and expense of buying and maintaining equipment, but it does come with the requirement to buy a contract. Still, that’s okay if you get a good one, and Genesis Mining offers contracts of two years or more and and zero fees. Take a look at our pricing page to find out more about this.
Zcash is one of the newer cryptocurrencies and it’s attracted a lot of attention, which is one of the reasons why it’s come to the attention of both new miners and old hands. Lots of them are moving to cloud mining, but it’s worth remembering that not all Zcash cloud mining providers are the same. You really need to scrutinise your contract before signing it, and you need to be willing to ask the right questions before you dive in. One thing you definitely want to know is whether your funds will be safe in your account, and what security measures are in place to prevent hacking.
You can rest assured that IQMining offers great security and makes it easy for anyone to get into cloud mining quickly and easily. We offer what we think is the best way to get into the world of cryptocurrencies, whether you’re a beginner or a veteran. IQMining was the first large-scale, multi-algorithm cloud-mining service on the market. It’s the no-hassle alternative to traditional crypto mining that you will love.