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    Gate.io Blog Benefits Of Choosing Gate.io Cloud Mining
    Common Knowledge

    Benefits Of Choosing Gate.io Cloud Mining

    24 June 14:13




    [TL; DR]



    Mining in the blockchain creates new blocks, verifies the validity of transactions, and updates the existing blockchain records.


    Cloud mining is a mechanism whereby the equipment, components, and software needed for your mining service are sourced from a third-party mining firm.


    A miner or miners can deploy rented mining equipment and facilities without installing or directly running the hardware.


    Cloud mining enables you to access all these components over the cloud remotely.


    The cloud mining firms must provide these mining tools and software for a basic cost.


    One of the foremost platforms that provide reliable cloud mining services is Gate.io.


    Gate.io is a Chinese-founded Cryptocurrency related service provider.


    The platform allows you to trade, exchange and swap crypto tokens alongside other services.


    The benefits of using the Gate.io platform for cloud mining include reliability, low cost, transparency, low threshold, etc.


    Keywords: cloud mining, miners, cryptocurrency, blocks, mining firm, services, blockchain.


    [Full Article]


    Blockchain technology and the cryptocurrency ecosystem entail a lot of processes and mechanisms. One of the essential processes in blockchain technology is mining.


    Mining in blockchain and cryptocurrency is primarily the process of creating new blocks, verifying the validity of transactions, and adding new records to the blockchain. In blockchain mining, there are several methods that miners can deploy; however, our spotlight will be on the cloud mining method.


    In this article, we shall identify the details of cloud mining and examine the cloud mining service provided by Gate.io, one of the most reliable providers in cryptocurrency.


    Let's begin!



    What Is Cloud Mining?




    Image: 101 Blockchains


    Cloud mining is a mechanism or technique whereby a miner or group of miners deploy the service of rented mining equipment and facilities without installing or directly running the hardware and other related components.


    In cloud mining, all the components and software needed for the mining activities are made available by cloud mining firms. In cloud mining mechanisms, the maintenance of equipment and the cost of energy deployment is borne by the cloud mining firms.


    The cloud mining firms provide the mining facilities and equipment remotely to the miners. The cloud mining firms are third-party service providers that allow miners to create an account and remotely engage in cryptocurrency mining.


    The cloud mining service is accessed for a basic cost that varies among cloud mining providers or firms. This mining mechanism makes mining accessible to a wider group of people who intend to engage in cryptocurrency mining.


    Cloud miners come together to form a mining pool. This mining pool enables the participating miners to purchase a certain amount of power and deploy it for their cryptocurrency mining.


    There are several models in cloud mining. The cloud mining firms determine the models to be deployed for miners, and the popular models include hosted mining and leased hash power.


    Having explained how the cloud mining mechanism works and the basic responsibilities of cloud mining firms, we shall analyze the cloud mining service provided by Gate.io.


    Firstly, what service does Gate.io render?



    What Is Gate.io?




    Image: Gate.io


    Lin Han established Gate.io in 2013, and today, the global exchange platform allows you to trade and exchange over 1400 digital currencies. As one of the pioneer crypto exchange protocols in the world, Gate.io offers services related to trading several digital assets.


    Gate.io is a Chinese crypto platform founded with a leading Initial Exchange Offering (IEO) platform. This platform has a powerful trading engine that provides margin lending and borrowing.


    Gate.io is one of the safest, fastest, and most reliable global cryptocurrency exchange platforms. Since its public launch, this cryptocurrency platform has continued to be ranked by Coingecko among the top 10 cryptocurrency exchanges based on trading volume and liquidity.


    Gate.io has over 10 million users using the reliable platform for daily crypto trading, exchange, and swap. Gate.io provides its services for these users spread across several locations in their diverse languages. These languages include Arabic, Russian, German, English, Chinese, and many others.


    International organizations and cryptocurrency industry players affirm the reliability, credibility, and global acceptance of Gate.io. Blockchain Transparency Institute (BTI) has verified Gate.io as a trusted cryptocurrency platform. The platform is also rated 4.5 of 5 by Forbes Advisor.


    Some of the services rendered by Gate.io include altcoin exchange, 10x margin trading, periodic investment plans, perpetual contracts, IEO platforms, cloud mining, and many others.


    It is pertinent at this juncture to identify the cloud mining service provided by Gate.io and the benefits of using this reliable platform.



    Gate.io Cloud Mining Service And The Benefits




    Image: CryptoSlate


    The gates.io cloud mining platform is similar to other reliable cloud mining platforms. Gate.io provides a third-party platform for miners to engage in mining activities.


    These mining activities include creating new tokens, creating new blocks to the existing blockchain, and verifying the validity of the crypto transactions.


    There are numerous benefits to using the Gate.io cloud mining. They include; a 100% guaranteed hash rate, reliability, transparency, low threshold, the privilege to purchase multiple contracts, and guaranteed runtime.


    The mining platform has multiple providers located in Russia, The United States, Russia, and a few others. The available plans include Elementary and intermediate cloud mining contracts.


    To enjoy these benefits, kindly follow the steps below;


    • The first step to using the Gate.io cloud mining platform is to create your account or profile. You can then proceed to purchase the mining contract that suits your purpose.

    • Having picked the mining contract of your choice, you will proceed to make payment by clicking on the “purchase” button.

    • The next step is to confirm your purchase and click the “check out” button. You will be notified of a successful order.


    It is important to know that USDT is the acceptable token for all available mining plans on Gate.io.



    Conclusion




    Cryptocurrency mining is an essential process in the crypto and blockchain ecosystem. While miners can set up their mining farm and bear the entire mining cost, cloud mining firms have decided to take the burden upon themselves and remotely provide these services for a specified fee.


    Topping the list of the cloud mining providers is Gate.io. It is no doubt that since 2013, Gate.io has been providing various services in the cryptocurrency ecosystem.


    Conclusively, Gate.io has launched its 23rd batch of cloud mining products with a static ARR of about 155%. Deploying the Gate.io cloud mining platform for your remote mining activities is advisable.








    Author: Valentine. A, Gate.io Researcher

    This article represents only the researcher's views and does not constitute investment suggestions.

    Gate.io reserves all rights to this article. Reposting of the article will be permitted, provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.

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