What is Bitcoin

Bitcoin is a cryptocurrency and a digital payment system invented by an unknown programmer, or a group of programmers, under the name Satoshi Nakamoto. It was released as open-source software in 2009.

he system is peer-to-peer, and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain. Since the system works without a central repository or single administrator, bitcoin is called the first decentralized digital currency.


What is cloud mining

Cloud Mining is the process of bitcoin mining utilizing a remote datacenter with shared processing power.[1][2] This type of mining allows users to mine bitcoins or alternative cryptocurrencies without having to manage their own hardware. Since Cloud Mining is provided as a service there is generally some cost and this can result in lower returns for the miner. There are many cloud mining scams.

Users of hosted Mining equipment can either lease a physical mining server or a Virtual private server and install mining software on the machine

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