Fragen & Antworten
Cloud mining is the rental of hardware to mine cryptocurrencies such as Bitcoin. We are a company that aims not only to support cryptocurrencies, but to give people a better understanding of the topic and to give everyone the opportunity to participate in it.
In short – we rent out very expensive hardware in order to produce cryptocurrencies for you.
The mining itself is a complex affair and therefore requires a lot of expertise. In short, you are rewarded for the computing power that is made available. With the help of the miner's computing power, very complex calculations are solved, thus ensuring that the transactions within the blockchain are correct and possible. You are rewarded for solving a calculation, and this is how a miner earns his daily bread.
The miners are thus ultimately the regulatory body for this technology. The coins that are credited as a reward are not in circulation, which means that they are newly issued or generated. Over time, you get fewer and fewer rewards, as the difficulty level increases the fewer coins are available.
We must first mention that we will gradually be introducing further packages with which you can mine other coins. We cannot write any more about this at this time.
Mining Ether has been profitable up until this point; that is, one came out of it at a net positive after deducting the costs. We cannot comment on the future, because profitability depends on many factors. The price, the difficulty of mining and the computing power are a few such factors.
Cryptocurrencies are a long-term investment and must be treated as such.
The switch from proof of work to proof of stake will most likely come off very smoothly. Proof of stake is the final stage of the currency, and only very little reward will still be issued. The whole thing is necessary to ensure a safe and stable currency.
What you should be interested in as a customer is what happens when you have bought a package and the profitability drops sharply? We naturally track such things and will switch to a more profitable coin when the time comes. Here, we will prioritise you as a customer and will also present you with a suitable selection.
Many will ask themselves this question, and, yes, in some cases it may be wiser to mine yourself, but for most people it makes no sense to go to the trouble of this work. Many forget the effort and the time that needs to be put in to make something like that possible.
A mining rig consisting of hard & software is not only very expensive, but also very loud and produces a great deal of heat. You have to think about cooling, electricity costs, location, security and much more. A lot of research is required. Which miner do I have to use? Which GPU? Which motherboard? How will I power everything? Such questions have to be answered, and a lot of tinkering has to be done until a good set-up is found.
Incidentally, a lot of components that would be ideal for mining are either not available or are very expensive. This is undoubtedly due to the recent high demand. Many overlook how much time and money has to be invested before a miner like this can consistently generate income.
We also place major focus on mining a coin that can be mined with little energy expenditure, on the one hand for profitability reasons, but, of course, also for environmental reasons, which are very important to us.
You will be guided intuitively through our shop system and, at the end, you will have the choice of various payment options. At the moment, you can pay with us by PayPal, bank transfer, credit card and Sofortüberweisung. Also with cryptocurrencies on request.
You choose a package, then fill out the form and complete the purchase by choosing a payment method.
We then check whether your desired service is available and send you a confirmation email, which also contains your access data, so that you can log in using the login button and check your data so as to have an overview at all times.
Upon concluding a contract, we will post the expected LIOcoins to be mined IMMEDIATELY to your wallet in advance, though they will be blocked for the contract period. After the contract term has ended, the system will automatically release them. If our servers have mined more LIOcoins than predicted, you will automatically receive the prorated amount to your wallet.
If there is a shortfall, we bear the risk, and you will not have to refund any coins. This means we guarantee you a minimum number of coins in your account right from the start.
You can terminate the contract early; however, we cannot reimburse the costs the user has paid because we bought and calculated hardware for the duration of the contract.
If the user wishes to withdraw, then, after terminating the contract, they can dispose of the coins that have been mined up until that point in time and sell them freely on a stock exchange.