For the past year you have probably heard a lot about Bitcoin and other cryptocurrencies, including different phenomenon happening around them. Maybe you have also heard about newly-made crypto millionaires and billionaires. Newspapers and magazines are writing about crypto a lot more often, so that more and more people are getting familiar with it. Many businesses all over the world have started accepting crypto as payment method. We can clearly see the excitement around Blockchain Technology and Bitcoin because of its recent spikes.
Just a hobby
Back in 2010 cryptocurrency mining used to be nothing more than just a hobby. Because of its low difficulty, miners could generate sufficient number of coins using their desktops and even laptops. But there was one problem– they could not easily exchange it for anything or sell it. Despite this, enthusiasts, who kept their crypto before the crypto-market surge are now millionaires, since many of them have tens of thousands of Bitcoins in their wallets. Imagine you started mining coins that are barely recognizable and kept them in your wallet for years until they “went to the moon” one day… Sounds exciting, doesn’t it?
Mining today
However, now everything is not that as easy as it used to be. After the crypto-boom in 2017, the community of crypto-miners has grown by ten times, so today there is a huge number of computers and other mining devices aimed to mine even the youngest and rawest digital coins. Well, for newcomers it implies a serious competition and impossibility to start mining without sufficient investments upfront. But hold on, investment in crypto-mining equipment can be considered a highly risky one. For instance, before 2017 some companies decided to do exclusively crypto mining. However, it was quite risky to run the entire business only based on cryptomining because of a high level of uncertainty.
Today, a lot of cryptocurrency mining companies compete in the Blockchain Industry for the users of their hashing capacity. In most cases, these companies usually offer long-term contracts and attachment to a single coin/algorithm what may turn out to be a very sad experience as mining profitability of particular coin can rapidly become very low. There are also websites such as NiceHash where you can mine any coin you want but have to pay a high rental fee for the equipment and only get paid in Bitcoins. You will probably ask — why can’t I just buy the equipment myself and start mining at my home/storage? This idea may be really bad because mining equipment is quite costly, and it needs to be constantly renewed for higher level of effectiveness. Therefore, it is necessary to have good knowledge of the mining process, equipment and which coins to mine. So, what is the solution to this problem?
The solution
Electrominer offers a great solution — you can mine various coins any time you want. The Electrominer team takes care of the equipment, its maintenance so that the users can even place 1-hour orders. Besides, users who prefer not to spend a lot of time researching coins profitability and growth, can just turn on an auto mode and Electrominer will mine the most profitable coin for them. There is no need to research coins or purchase the equipment because Electrominer is all-in-one solution. It offers 4 algorithms — SHA-256, X11, SCRYPT, ETHASH, and for the rest it uses the most powerful and efficient GPUs. Users can switch from one algorithm to another at any time. The data centers will be equipped with the latest feature and most efficient ASICs and GPUs in the market.
It is important to mention that besides the features described above, Electrominer has created a mobile app which allows its members to track their mining status, the coins volatility and switch between different algorithms even in public transportation.
Electrominer Mobile Application
In conclusion, the mining process can be very challenging and rewarding because we can always see new coins on the rise. Electrominer is the cloud-mining platform which does not restrict you to anything and lets you set your own rules. Members of the platform even have voting rights on strategic improvements. Currently, Electrominer is on the stage of Private Sale. For more information, visit Electrominer website: https://electrominer.io