Mining is still going strong in 2021, and it won’t go away anytime soon. Mining is the process of generating Bitcoins in exchange for performing the Bitcoin transaction verification process. They provide security for the Bitcoin network, which compensates miners with crypto rewards.
Several factors can influence whether Bitcoin mining is profitable or not. Typically, these include the cost of the electricity used to operate the computer system, the availability and price of the system itself, as well as the difficulties in providing the services.
Mineology, the first co-ownership for cryptocurrency mining, is a creative solution to change the mining process.
Main benefits of mining with Mineology
The mining process is not and will never be easy; even the most experienced miners have initially encountered difficulties and were lost in the early days.
The Mineology platform has a new idea and a well-structured service that will help decrease the entire procedure, making it easier for everyone.
The members will receive the following services from the platform:
Portfolio diversity – They allow members to earn Bitcoin instead of just purchasing it.
Competitive rates – Their 50% lower operational cost rates enable members to set up a mining rig at home.
Simple installation – They allow users to access the miners’ setup and handle everything from purchase to installation.
Colocation facilities – Individuals will benefit from mining without any setup or maintenance.
Monthly dividends – Customers will get monthly earnings from their miners, deposited directly into their Bitcoin wallet.
Remote monitoring – Members can entrust the rest of the work to the Mineology team while keeping an eye on their miners’ remote.
What is Mineology.ie?
Mineology is a platform that enables users to mine cryptocurrency from the comfort of their own homes by using one of their colocation facilities. Adam O’Brien built the Mineology platform to educate the public about the mining process and allow them to see what technology is behind it.
After seeing that his mining portfolio became increasingly problematic due to a lack of funds, Adam had the concept to create Mineology. His attempt to raise significant funds in the process of expanding his portfolio became more difficult, so he figured out the solution.
Mineology attempts to eliminate the typically high initial setup expense and lack of skill, allowing anybody to participate in the mining process. One of the most significant disadvantages is the expensive setup cost, which ranges from $7k to $15k for just one miner.
Mineology, the first and only platform to enable shared ownership of miners, will make it easier for everyone to engage in the mining process. They also establish a larger pool for investors to purchase Bitcoin mining shares. They are automating unneeded annoyances and providing users with a pleasant hosting experience.
How does it work?
Users will be able to choose their miner on Mineology sites by checking the miner’s details, hash rate, and monthly hosting cost and receiving e-mails about new investment opportunities.
The member can decide how much to invest; the minimum investment is $50, and the maximum is determined by how many shares remain in the miner. That means that a user can invest and buy 100% of the miner and own it entirely.
When consumers decide how much to invest, the shares are calculated automatically on the site. When the miner is 100% funded, it is sent to one of their colocation facilities, turned on, and the user receives Bitcoin according to the number of shares they possess.
Everyone benefits from nearly three times lower expenses than if miners were hosted in users’ houses. Members may examine their share in each miner and track their mining on their dashboard on the mineology.ie website.
Conclusion
Mining is now easier than ever before, thanks to Mineology. They will provide everyone with the opportunity to participate in the mining process at the lowest possible cost.
By allowing a bigger pool of investors to purchase shares in Bitcoin miners, their platform democratizes the investment process.
Start your journey into the mining process with Mineology and learn to earn a passive income. Visit Mineology today to learn how you can become a part of the future of Bitcoin mining.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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