Cryptomining is a luxurious industry that is capable of earning corporates and individuals reasonable profits. Even though Bitcoin mining is the most popular form of cryptocurrency mining, other types of cryptocurrencies are slowly getting into the market. Miners, therefore, have the luxury of choice to mine the most valuable coins. However, if this industry is as luxurious as it is presumed to be, why are there very few miners? Why is it that very few miners are capable of earning huge profits? How can more miners venture into this industry?
The problem that lies with Cryptomining
The primary reason why a lot of individuals and corporates are limited from venturing fully into Cryptomining is the high costs that are associated with it. Cryptomining is a venture that requires heavy investment in terms of equipment and capital. This is to ensure that a miner can beat the other peer miners in solving the mathematical puzzles and earning a reward. A miner who solves the mathematical code first earns a reward of 6.25 Bitcoins. However, this reward is only earned by large corporations and wealthy individuals who can put in the substantial resources needed to solve the mathematical puzzles fast. This is why even though a lot of individuals and small businesses have the skill set that is required to mine various cryptocurrencies, without enough resources, they are limited in terms of the profits that they will earn.
At MINY, we understand the need for every miner to maximize his or her profits. For this reason, we have identified that the huge problem lies in miners not having enough resources. MINY offers a platform where miners from different countries and with different levels of expertise and knowledge about mining can come together and share in their resources to earn mining rewards. As such, the platform has devised three major strategies that are a sure way in which miners will earn profits even though they have limited resources
Cloud Mining pool
To help miners to maximize their profits, MINY combines its computational power by bringing various miners together. The users on the platform join a mining pool where they bring together their resources. Then the profits that are realized from mining are distributed proportionately according to the amount that a user has in their mining pool.
AI
This is another significant way that MINY is using in a bid to ensure that their users can reap big. The cryptocurrency market is very dynamic, and this means that the value of different coins keeps changing over time. As a way of making sure that miners do not suffer from losses, MINY uses an AI algorithm that will analyze the future value of various coins. This will then help to focus the mining activities at only those coins that are valuable. The MINY AI algorithm is accurate in its predictions, and as such, it helps to increase the mining efficiency.
MINY Token
The MINY platform has developed a native token, MINY, which is a self-established cryptocurrency. The token is obtainable by earning mining rewards and commissions, starting at a price of $1. It is also designed with an artificial scarcity, meaning it cannot lose value, but rather increases when parts are sold. After 12 months it is released and can be traded on external exchanges and is then pegged on economic principles. In addition to the many advantages of the MINY token it will be available for renting computational power on the Miny platform and for purchasing mining equipment.
How to benefit from MINY’s solutions
It is very easy to join MINY’s cloud mining pool and become one of the many users that are benefiting from this great initiative. Once you open an account, you can deposit your funds, which will be used to rent computational power. Besides this, you can purchase MINY tokens that you can also use to rent computational power. The profits that will be accrued from the mining rewards will then be shared among the users according to the amount that they contributed towards their mining pool. Located in a serene environment in Hong Kong, MINY can provide its users with a roadmap to which they will reap big from cryptocurrency mining.
