ASIC stands for an application-specific integrated circuit. Roughly speaking, this is a chip that is specifically designed for mining bitcoins and other cryptocurrencies.
Originally, it was expected that the mining equipment could be based on general-purpose gear like central processing units or graphics processing units.
However, ASIC proved their worth including cost-efficiency, and today, every mining host in the world employs them.
Here’s a short overview of the ASIC advantages:
• Easy installation. ASIC is a plug-and-play component that allows quick setup.
• Profits. These units yield a higher revenue as they have a higher chance to successfully solve another math problem to “win” a bitcoin.
• Electricity. When it comes to investing in cryptocurrency, you can’t ignore the monstrous electricity bills. However, ASICs need less “juice” for their semiconductor brains and therefore the bills are much lighter.
• Performance. Finally, ASIC works much faster than, for example, a regular GPU. This is because a video card was designed for other purposes like rendering movies or games, and not being a part of a crypto-mining farm.
Needless to say, crypto solutions stick to the wonders that ASIC can offer as they promise big and stable revenues with the current bitcoin price of $44,839. But even considering its high efficiency, ASIC mining is still not the cheapest option. If you look up a full-scale crypto-mining rig on Amazon, its price can be as high as $10,000. Not to mention the installation fees.
Luckily, you don’t need to own the likes of Antiminer to benefit from the long-term crypto investment. A mining-hosting service is an answer to this dilemma. In simple words, it’s a special platform that specializes in cloud mining. You can invest in it and get your piece of the computing power that will work night and day, generating digital coins for you.
Here’s how it works:
• Invest. After you purchase a part of the mining facility, you’ll become a legitimate owner of a piece of the crypto-mining platform.
• Work. The ASIC-based rig will solve the math puzzles, generating hash rates. This is the core data from which crypto money is made.
• Reap benefits. As soon as a portion of digital money is ready to go, you can withdraw cryptocurrencies in their initial form or as fiat money. It’s your call.
• Repeat. The system will repeat this cycle, generating more revenue for you. All you need to do is relax and wait.
By far, this is the easiest way of investing in cryptocurrency. Unlike crypto-trading, it doesn’t force you to keep track of the exchange rates 24/7 and go through other hassles and bustles.
Besides, you don’t need to:
• Keep the hardware at your place. Chill in the serenity of your home, while the ASIC-based rigs are busily buzzing and collecting crypto-honey for you.
• Install, maintain, supervise, and ensure the equipment. It’s all done for you by an expert team.
• Worry about the traditional markets. While some issues may occur at the traditional stock exchange or Forex, you can safely wait out in the “haven” of the crypto-market, which isn’t directly related to the oil or gold prices (expect stable coins).
• Deal with the legal problems even if crypto is banned in your country. The mining platform operates in those states where’s it is 100% legal.
As you can see, ASIC mining doesn’t have to be too expensive. Join a cloud mining platform today and reap the wealthy crypto-harvest!