This is a time when bitcoin mining is more popular than ever. That is why many people want to try their hand in this business, but face difficulties. Some are afraid of the high volatility of this cryptocurrency, while others simply do not know how to start and where to invest correctly. Along with the increased popularity of mining, of course, hosting services for it have become more in demand. Therefore, in this article, we will pay special attention to the best minery mining hosting service to help you understand.
We will not only help you in choosing the best service but also deal with other issues. For example, we’ll touch on mining in general a bit to guide you through this topic. Let’s look at how mining hosts work and highlight the points by which we can determine the best one.
What is Bitcoin Mining?
Let’s spend a little time on this issue, as it will be helpful to beginners in this area. Not everyone who wants to do this understands the key principle and is often mistaken.
Broadly speaking, mining is the process of creating new cryptocurrency coins and verifying new transactions on the blockchain. Blockchain is a decentralized database stored on computers linked together on the Internet. That is, computers verify and document cryptocurrency transactions and get rewarded for it – new coins.
In addition to releasing new coins into circulation, mining keeps the cryptocurrency secure. It verifies and protects the blockchain, which allows cryptocurrencies to operate as a peer-to-peer decentralized network without any third-party control. And it creates an incentive for miners to contribute their processing power to the network.
How Mining Hostings Works?
Many people do not understand the principle of mining hosting, so we will also explain it. Your equipment is placed in a certain place. You can either rent computing facilities or host your own. The result is the same – you do not have to put in any extra effort.
If you delve even further, imagine a rack of equipment that has power, internet, and cooling connections. It’s all standing in some kind of hangar or room, with a team of specialists looking after it. Of course, it’s all guarded and all fire precautions are taken into account. All you have to do is to monitor the process remotely from time to time.
Best Hosting Service Criteria
Now we finally get to the most important part. We can say in advance that you can not blindly follow the instructions of this article but look for convenient options for yourself. We will give the basic criteria that will help you to determine the best hosting for yourself. In our case, we will take the example of the best in our opinion mining hosting and it is of course all known Minery.
Reputation
It is important to know as much information about the hosting provider as possible. The most important thing, of course, is its reputation and reliable rumors about it.
You need to know the age of the company, the older they are – the better. Also, make sure that the hosting has at least 95% positive reviews. One of the best indicators will be the fame of the owner and managers. In other words, if the managers’ contacts are publicly available, it’s already an indicator of quality.
In the case of Minery, we know all about the hosting, it is more than 6 years old, all the information is publicly accessible, and the reputation is extremely positive.
Maintenance
Maintenance is also important here. That is, only highly qualified personnel who know how to handle the equipment. In the case of the Minery we have exactly the following:
- Automatic error detection and proactive warning system.
- Trained and certified operating personnel.
- Emergency equipment repair and 24/7 monitoring.
Location
The place where hosting is located has an important role in the choice. It makes more sense, of course, to choose a hosting that is located near you. But there are many cases where the nearby does not meet the criteria for selection, so do not be afraid to choose a hosting even from other continents.
Our reviewed hosting is located in Siberia, which is a very cold region, which of course is great for hardware. In addition, there are very low prices for power supply, which is just a huge advantage.
Licenses
Make sure you have all the licenses of the chosen company. This guarantees the legality of your actions.
In addition to the above criteria, we can highlight the following advantages of Minery over its competitors:
- The on-site repair shop is staffed by certified technicians.
- Equipment store where you can buy or replace your hardware at bargain prices.
- Miner insurance and buy-back program.
- One of the best support services.
- Of course, the company has already established itself as a team of real professionals who can organize your mining efficiently and correctly.
Conclusion
Finding mining hosting for yourself is quite hard, and choosing the best one is even harder. Therefore, to choose the best option, you should analyze as much information as possible and understand the matter well. This will help you clearly understand which bitcoin hosting is better.