How To Buy A Cloud Mining Contract From Nuvoo
Mining Bitcoin and other cryptocurrencies has always been a primary way of obtaining digital tokens. The problem is that mining has become far more expensive and difficult than it was in the early days of Bitcoin. Many individuals are choosing to purchase cloud mining contracts from companies like NuVoo instead of investing in their own mining equipment. Here are a few things you should know before you buy a cloud mining contract from NuVoo.
What is Cloud Mining?
Cloud mining is a simple way to mine Bitcoin and other tokens without having to purchase expensive miners or pay for resources like electricity. Some companies allow individuals to purchase a cloud mining contract. NuVoo is one such company. For a nominal cost individuals who would not otherwise be able to mine Bitcoin can participate in this exciting endeavor.
When you join a cloud mining pool you purchase something called hash power. Your share of hash power is what allows you to reap the rewards of mining. You will be in a pool with other individuals who have purchased mining contracts, and all of you will share the rewards that are gained from mining coins.
Cloud computing is a fast growing trend. This method of computing allows individuals to complete computer tasks in the Cloud without the need for software or local resources. As an example, some programs like Photoshop are now accessed completely in the Cloud with no download required. The same principle applies to cloud mining of cryptocurrency. Everything is done online, and those who participate in the process do not need to have any special technical knowledge in order to mine coins. They simply buy a contract and reap the rewards.
NuVoo is one of the most popular cloud mining services. It is used by cryptocurrency hobbyists around the world to mine Bitcoin. The company’s goal is to allow hobbyists and serious crypto professionals a cost effective way to mine tokens. NuVoo has assembled many leaders in the world of cryptocurrency in order to develop a mining platform that works for everyone.
NuVoo is very user friendly. With just a couple of clicks an individual can purchase their first mining contract. All that remains is to sit back and collect the rewards when they come in. The hope is that the cost of the mining contract will justify the rewards. Of course, there is never a guarantee in the world of cryptocurrency. The value of tokens can swing wildly on a day to day basis, so each participant in a mining pool should be aware that they could lose a portion of their investment.
So, how does a company like NuVoo offer such a service to individuals? The answer is that the company essentially leases their mining equipment to those who purchase a Cloud mining contract. The money that is received from contracts is what covers the expenses of the company. This gives the company a guaranteed return on its mining efforts.
Buy a Cloud Mining Contract from NuVoo
There are a few steps required before one can purchase a Cloud mining contract from NuVoo. The first step is to visit the NuVoo website. Once the website is accessed the user can scroll down the landing page to find a list of available offers for mining contracts.
The next step will be to choose a mining plan from the available options. As of October 2018 there were at least five different plans available for those who want to Cloud mine. These plans range in price from $140 to $1675, depending on the amount of hash power that an individual wants to acquire. All plans from NuVoo offer some standard features:
No energy or maintenance fees
A hash power guarantee
An estimation of profitability
Once a plan has been selected the miner will be required to provide some personal details in order to register their account. They will also be required to verify an email address. The final step is to buy the plan and choose which coin you wish to mine as well as the amount of hash power you want. You will then need to enter some payment details. The company accepts payment with Bitcoin or a credit or debit card.
That is essentially all that is involved in mining coins. At the present time it is possible to mine Bitcoin or Dash with NuVoo. You can then have these coins deposited to your own wallet or to a cryptocurrency exchange where you can trade them for other digital assets.
Cloud Mining Disclaimer
Many individuals go into Cloud Mining with the idea that they are going to get rich quickly. This is not accurate. Cloud mining does have the potential to produce a profit, but it also carries the risk of loss. We recommend that anyone interested in this form of obtaining tokens do their homework before they invest.
There is little doubt that Cloud mining is a more reasonable way to participate in mining than purchasing very expensive equipment. One also gets the thrill of knowing they are actively involved in mining tokens.