While mining is the most obvious way of making money in the cryptocurrency area, its’ not always the simplest or the most profitable one.
Setting up and maintaining a mining farm at home requires some specific skills. Alternatively, you can make use of the cloud mining services by outsourcing the process to a specialized mining company, but who can guarantee the transparency of their actions?
Also, with the surge of Bitcoin’s popularity and many new players joining the mining race, the profitability of this process has significantly decreased.
MintMine offers a solution to these problems and aims to bring transparency and profitability back to the mining space. In this article, we are going to review different ways of mining, their pros and cons and how MintMine makes it different.
Standalone mining at home
This is where the whole mining industry has begun and this approach still has a right to exist.
- Possibility to control the process.
- No limitations on the initial investment.
- Bigger ROI in case you have access to cheap electricity.
- No way to scale your earnings as you can’t install too much equipment at home.
- Noise, dust, lots of excess heat.
- Requires at least some knowledge in the hardware.
- Installation and repair costs may be substantial.
- ASICs wear off and become obsolete in time.
- Too much time is required for the initial investments to pay off.
- No technical skills are required.
- No costs for electricity and hardware maintenance.
- Possibility to scale.
- The lack of transparency.
- Monthly fees.
- The risk of scam.
- The risk of a hack.
- Minimum entry limit.
BTC mining with MintMine
MintMine eliminates the drawbacks of traditional mining and adds some great advantages of its own:
- Diversity. Apart from Bitcoin, our hardware is capable of mining SHA-256 coins such as Bitcoin Cash, Bytecoin and many more. With MintMine, you won’t be bound to a single cryptocurrency and will be able to adjust to the current state of the market.
- 100% transparency. Since all the operations will be conducted on the blockchain, you will have full visibility into your income.
- No problems associated with mining at home. You won’t have to deal with costly and noisy equipment as we take its maintenance on ourselves.
- Simplicity. No technical skills are required, we take care of the whole process ourselves.
- No risk of scam or hack. We have purchased electricity upfront and store all the mined coins on a cold wallet.
- No impact on the environment. We utilize renewable green energy which doesn’t affect the environment anyhow.
- A minimum entry limit. The smallest amount you can invest equals to only 100 USD. It is way less than any cloud mining company requires and of course less than what you would have to spend to purchase equipment for yourself.
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