Mining – the process of verifying transactions and packing them in blocks to send to the blockchain – is a critical component of many networks, including the largest one – Bitcoin.

It’s the foundation around the entire cryptocurrency ecosystem (for a large part) is built on, and it is absolutely paramount to the concepts of crypto. However, it’s also very technical.

It’s a process that requires complex technical setups in terms of both hardware and software, sufficient electrical supply, and, if it’s made efficient – a dedicated storage space that’s being kept at the right temperature.

The above in itself put forward plenty of barriers to entry for many retail investors who don’t have access to significant capital. In essence, it bars retail investors from meaningfully participating in a way they can also earn a considerable profit.

Cloud mining comes as an attempted solution. The following explains what Cloud Mining is and looks at one of the more popular providers.

What is Crypto Cloud Mining?

The crux of the concept comes from the word cloud. It’s a virtual space. Cloud mining allows retail investors to put as much money as they are comfortable with and, in return, rent cloud mining space from a company that normally operates (or rents itself) data centers.

In essence, cloud mining is the way to mine crypto using a remote data center with shared processing power.

This particular type of mining allows users to mine BTC or other cryptocurrencies without having to manage hardware on their own.

The mining rigs themselves are housed and maintained in a facility that’s owned by a mining company. The customer simply needs to register and purchase mining contracts or shares – depending on how the agreement is framed.

An important consideration here is that users are strongly advised to make proper research into the cloud mining provider that they choose. Just as with a lot of other initiatives in the industry, there have been instances of fraud, so it’s important to maintain vigilance.

What is FancyCrypto?

FancyCrypto is a cloud mining provider, and according to its website, it has earned the trust of hundreds of thousands of users.

The company’s mission is to make mining more accessi