As a leading project in distributed storage, Filecoin mining has always been attracting lots of attention. But it’s difficult for ordinary investors to choose which way to mine. Let’s take a look at what mining methods are currently available in the Filecoin mining market.
1. Purchase a mining machine for mining
Simply speaking, a Filecoin mining machine is similar to a Bitcoin mining machine. Investors are investing in a physical machine, which includes hard disks, memory, graphics cards, and CPUs.
But a significant difference between Filecoin and Bitcoin algorithms is that the hardware requirements of Filecoin mining are not as high as Bitcoin. The high efficiency can only be achieved with special ASIC chips in Bitcoin mining, and Filecoin miners do not require such special hardware.
The hardware provided by various Filecoin mining machine manufacturers is publicly available in the market, unlike Bitcoin mining machines whose chips require special customization and can only be purchased from certain manufacturers. Of course, the investment in purchasing a Filecoin physical mining machine is still a considerable expense.
In addition, the focus of Filecoin mining lies in software, system, and maintenance. Ordinary investors do not have relevant professional knowledge. After they purchase the mining machine, in most cases, they will host the mining machine to the service providers and pay them for maintenance and unified management.
2. Cloud mining
Although Filecoin is a storage business, it is not only the size of the hard disk that determines the mining efficiency in this system, but also a series of complex factors. Software, system, and maintenance are the key points. In this case, if we consider various factors comprehensively, and manage, deploy, and optimize them in a unified manner, can we achieve better results?
Precisely because of this design concept of overall planning and unified management, another mining method, cloud mining, has been derived. And because companies have different understandings and design concepts of software, systems, and maintenance, the cost performance of cloud mining power is also different.
Compared with purchasing mining machines, cloud mining is to split the total mining power of mining machines into independent units and then sells them to users. What users buy is a fraction of the miner’s overall mining power.
The advantage of cloud computing mining is that users do not need to have a deep understanding of mining principles and various software and hardware, do not need to buy expensive mining machines, and do not need to maintain 24 hours by themselves. They can just pay for mining, like buying financing products. For users, cloud mining greatly reduces the entry barrier compared with purchasing mining machines.
3. Staking for mining
The so-called staking for mining means that users can directly stake FIL to mine Filecoin. Compared with cloud mining, the threshold is even lower, and there is no need to pay any fees. So, what is the principle of staking mining?
First, you need to understand the basic conditions of Filecoin mining. First, you need hardware facilities such as IDCs or mining machines. Second, you need professional operation and maintenance. Third, you need a certain number of tokens for staking. For ordinary investors, the price of hardware is out of reach, not to mention professional operation and maintenance. Only professional mining service providers can fully meet these requirements. Even so, mining service providers still need a large number of tokens for staking to expand their service, which is also a big challenge.
In order to collect all the idle FIL in the market as the staked token for Filecoin mining, some mining service providers have launched the method of staking for mining. In this way, investors can join Filecoin mining in the most convenient way and realize wealth appreciation without any additional investment. Miners use the idle FIL in the market to further expand the mining scale at the lowest cost and earn more income.
The most representative project of Filecoin staking for mining is Filet. Filet is committed to connecting high-quality mining service providers and users around the world so that more users can seize the dividends of Filecoin. Especially in the current situation where the price of FIL is quite low, staking for mining is becoming the choice of more investors.