The Tech Quiz - Season 30
Assalamualaikum Steemian |
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With the prayers of my well-wishers I'm doing great and so do I wish for you all, beautiful people. Today, I'll write on the topic "Crypto Mining organized by @malikusman1. Here is my view about the concerned topic.
What are crypto mining apps? |
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Crypto mining is the process of creating new cryptocurrency by validating block transactions via solving puzzles. Crypto mining is too complex and expensive as it requires costly hardware setup as well as energy for computing. But today, this is possible with cryptocurrency cloud mining apps.
A crypto cloud mining app is a mobile application that allows users to participate in cryptocurrency mining through remote data centers. Users can purchase mining contracts from cloud mining providers, who handle the mining operations and maintenance.
We listed 5 leading cloud crypto mining platforms.
1. Binance
The first legitimate cloud mining provider is Binance, which was established in 2017. Almost 90,000 users from around the world utilize Binance. There is a helpful mobile app from Binance. It can be found on Google Play and the App Store.
Features:
Cost-effective trading facility.
Daily payouts directly into wallet.
Range of cryptocurrencies like Bitcoin, Ethereum, Cardano, etc.
1.5% fees on the use of Binance cloud crypto mining.
2. HappyMiner
HappyMiner is a licensed cloud mining company that was founded in 2018 in the United States. HappyMiner owns industrial facilities with a large tech park of professional crypto mining rigs. Currently, more than 280,0000 users from around the world earn cryptocurrency on HappyMiner.
Features:
Free mining.
Daily payouts.
No overhead or electricity fees.
Affiliate Program with up to 4.5% lifetime reward.
24-hour online support.
One can buy a contract for as little as $10.
3. Nice Hash
A marketplace for hash rates, a cryptocurrency mining tool, and a cryptocurrency exchange platform are all included in the free mining program Good Hash.
Feature:
Easy-to-use interface.
“Pay-per-share” reward system
Multi-switching algorithm.
Total control of mining operation.
4. Awesome Miner
One of the greatest free Bitcoin mining applications for managing and keeping track of the performance of numerous miners from a single dashboard is Fantastic Miner.
Features:
Easy-to-use
Notifications and Recovery
Dashboard & Mining History
Organize miners
5. Ecos
With the full-service portal Ecos, investors can access a Bitcoin wallet, exchange, cryptocurrency mining contracts, and portfolios. For ECOS, a useful mobile app is accessible. You can download it from Google Play or the App Store.
Features:
Low prices for mining contracts (starting at $100)
Ability to withdraw funds from 0.001 BTC
Mobile app for easy access to mining [1], wallet, exchange, and investment tools
Potentially profitable if digital currencies increase in value
Ecos is the first cloud mining provider that is part of a large-scale data center
Did you mine any coin? Pls share with us |
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Yes, I am mining "hamster kombat" coin. Till now, I've a total of 111,465,278 coins. It's expected to be launch in the end of june 2024. The price is expected to be 0.000001$.
I've also mine Pi-network a couple of years a ago. But it took much time to be launched so I deleted that and now I've forgot the password. Therefore, I cannot login.
Pros and Cons of mining. |
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Pros of mining
Thw pros of mining are as follows:
- Profit can be earned with mining.
- Crypto mining creates job opportunities.
- It provides investment opportunities.
- It uses underutilized or unexploited resources.
- Crypto mining triggers innovation.
Cons of mining
Being profitable, it comes with many shortcomings.
- Mining requires high energy.
- It requires heavy hardware and software that are costly.
- Mining has a huge carbon footprints threatening environment.
- Cryptocurrencies are highly volatile.
winding up
Like with most investments, crypto mining is a high-risk venture with the potential for massive returns. It presents its unique challenges with equally attractive opportunities to rake a fortune. Notably, the industry is yet to reach its peak, and it is right to say that the crypto mining space will still see some major developments in the future. Pro-crypto countries are making important strides that will steer crypto mining in the right direction.
In the end, I want to say that many people will be agree with me while few may not, this is what the difference of opinion is and that is what leads the world forward.
Thanks for being here. Your presence means alot.
Inviting @reetuahlawat , @hardphotographer ,and @hotspotitaly to take part in the context.
Regards,**
@jalil654