What is Cloud Mining?

[iamteody]

I started mining at minersgate and Im very noob with mining then I saw cloud mining in minersgate, What is that?

[Emoclaw]

As its name implies, it is mining in the cloud. You basically buy or rent hashrate, usually from other people or a mining farm that the company owns.
Although minergate's cloud mining seems legit and profitable, I don't think it will stay that way for long due to the increases in difficulty. You'd probably make more money by buying the hardware yourself or simply holding Bitcoins for the amount of time it'd take you to break even.

[iamteody]

As its name implies, it is mining in the cloud. You basically buy or rent hashrate, usually from other people or a mining farm that the company owns.
Although minergate's cloud mining seems legit and profitable, I don't think it will stay that way for long due to the increases in difficulty. You'd probably make more money by buying the hardware yourself or simply holding Bitcoins for the amount of time it'd take you to break even.

For beginners what would you advice?

[tperkins1776]

I started mining at minersgate and Im very noob with mining then I saw cloud mining in minersgate, What is that?

Minergate is a software that will run on your PC. That is the opposite of cloud mining.

However,...

Minergate does sell cloud mining a.k.a. hashing contracts...  It's basically renting or paying another machine to mine for you.. I've not heard any great results doing this. However, I could be wrong. I'm a recently former newbie and I am building my first rig. But that's what I've figured out so far!

I hope this helps!

-T

[Wonza99]

At the moment the service in the cloud of minergate allows to mine BTC and XMR. Soon ETH although I do not know how profitable these investments are today

[crairezx20]

As its name implies, it is mining in the cloud. You basically buy or rent hashrate, usually from other people or a mining farm that the company owns.
Although minergate's cloud mining seems legit and profitable, I don't think it will stay that way for long due to the increases in difficulty. You'd probably make more money by buying the hardware yourself or simply holding Bitcoins for the amount of time it'd take you to break even.

For beginners what would you advice?

Are you actually wanted to mine altcoins?  cloud mining  is not really profitable and mostly they are scammer..
So i suggest to stay away to them not a good idea to invest from them if you really wanted to mine buy your own rig or build your own..
And mine  altcoin using nicehash to easily setup  and start mining.. 
There are lots of members who join here are already experience to invest in cloud mining and  almost all are never get back their bitcoins ..

[vincl]

cloud mining companies take away 1 BTC from you and pay you 0.6 BTC after 2 years, but because of the rise in BTC price you still make profit.

so HODL.

[mittooss]

As its name implies, it is mining in the cloud. You basically buy or rent hashrate, usually from other people or a mining farm that the company owns.
Although minergate's cloud mining seems legit and profitable, I don't think it will stay that way for long due to the increases in difficulty. You'd probably make more money by buying the hardware yourself or simply holding Bitcoins for the amount of time it'd take you to break even.

For beginners what would you advice?

If you have time and patience Choose the right coin and mine it.