These are the points we're going to discuss in this article to answer the task by @besticofinder:

(1) What is Cloud Mining ?
(2) What are the best cloud mining platforms ?
(3) Discuss the advantages and disadvantages of cloud mining ?

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_{Cryptocurrency cloud mining.}

What's Cloud Mining?

If you missed my previous article about cryptocurrency mining, you can check it out here. In that article, I explained what cryptocurrency mining is. That's directly connected to the current topic that we have: Cloud Mining.

Cloud mining is basically doing cryptocurrency mining remotely. This works because there are people or companies that are selling or leasing the hashing power of their cryptocurrency mining equipment. These services enable people who do not have the necessary hardware to still engage on to crypto mining.

Usually, these cloud mining platforms have websites were interested participants are povided access to registering,a nd purchasing contracts or shares of that platform that will enable them to get a piece of the earnings from mining.

These allows people to make profit even if they do not have the actual hardware for mining. Usually, these platform have a set minimum withdrawal amount that users have to reach before they can take out their profits.

Mining companies offer these services because this minimizes the risk that they have for running mining facilities but sharing the capital/expenses with these cloud mining 'investors'.

_{Cloud Mining platforms. Source:Medium}

Best Cloud Mining Platforms

I wouldn't really say that the following platforms are the best of the best however, they are the rop ranking cloud mining platforms for a reason. They are usually the most trustworthy ones out there. However, as all things crypto, DYOR or do your own research when planning to invest on something like this. Some of the top platforms to use cloud mining are the following:

• Hash Nest
  -Genesis Mining
• Hash Flare
• Bit Deer

I know it's a very short list, because there are only a few cloud mining providers as well - some are usually scams that's why you really need to do research first.

As I've mentioned earlier, the ones I've listed may or may not be the 'best' out there, this is because sometimes cryptocurrency mining is not profitable and fact is the same with cloud mining as well, since both are directly connected. The companies above though, as mentioned, are trusted by most users since they are true to their words. You get what you pay for - and there are no false advertisement.

_{Pros & Cons. Source: Oko.uk}

Pros and Cons of Cloud Mining

As with all things, pros and cons are things you should research and weigh greatly so that you minimize your risk and know what you're getting into. For cloud mining, it has both advantages and disadvantages.

One of the advantage of using cloud mining is the ease of use. It's like a plug and play device, totally hands off. You do not need to concern yourself with acquiring the hardware and maintaining them. You also don't need to provide the place and take care of the bills - as well as the pollution that comes with it (including noise pollution - since these miners can be loud). The companies providing these services are the ones who will take care of those things for their investors.

Another advantage, is profitability. Cloud mining will not stay afloat for long if people are not getting profits out of it.

However, we also have to enumerate the disadvantages of doing cloud mining. First one is the risk, it's an investing platform working on a highly volatile financial asset so we all know that the risk is high. There are some times as well that it may not be profitable depending on the contents of the contract and how the market trend is going.

Another risk is it being a scam, this may not be true for all but there have been a lot of cloud mining platforms that are simple scamming people out of their hard-earned money. Remember that in crypto - if you don't have the keys, you don't have the crypto; same thing with cloud mining, since it's technically not your hardware, there are chances that it will not be your rewards as well.

That's why doing proper research and risk assessment is a crucial part of investing, not just in cryptocurrencies, but with anything related to financial assets.

Thanks a lot for reading!

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_{Images with no source were made by me. Images with subbed texts contain sources. Thanks @besticofinder, @steemitblog, @steemcurator01, @steemcurator02.}