1. Understanding Offers on Xive
How does cloud mining work?
On Xive, you rent cloud mining power from individual sellers in an open marketplace. The seller will mine for you for a specified period of time, and you'll get the profit.
You don't need to own any equipment or install any software. The only thing you'll need to do is register with a mining pool and provide the seller with some data from your pool account. It's completely safe: you'll get the payout automatically from the pool, so there's no risk that the seller fails to pay you.
Who can be a seller on Xive?
Anyone who owns cryptocurrency mining equipment (ASICs) can become a seller in our marketplace.
Sellers rent out their computing power (hashrate) for a fee. It's a safe way to earn a regular income.
So, if you’re asking yourself, ‘Is cloud mining worth it?’,
What does the Power parameter mean?
The mining contracts on our Cloud Mining differ by two parameters: power and duration (period). Power stands for hashrate. On average, the higher the hashrate, the higher the revenue from mining.
A miner has to solve a cryptographic puzzle to mine a new block and collect the reward. Miners constantly submit potential solutions to the network until a correct solution is found. The hashrate is the number of possible solutions that a miner can suggest (broadcast) every second. Every such solution consists of a hash – an alphanumeric string.
The hashrate is thus measured in hash per second. For example, if you buy a 25 Th/s contract on Xive, it means that the seller's hardware can make up to 25 trillion 'guesses' (hashes) every second.
Which contract period should I choose?
Xive offers Bitcoin cloud mining contracts of different durations: from 24 hours to 360 days. This flexibility is one of the things that make Xive the best cloud mining service on the market.
The hashrate being equal, you can save 10% or more on a longer contract, so your ROI will be higher. However, when buying a contract for the first time, you might want to pick one for 7 or 30 days. This will allow you to test the system and the seller. Once the first contract expires, you can purchase a longer offer from the same seller.