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What Is Cryptocurrency Mining?
Cryptocurrency mining is the process through which transactions on a blockchain network are verified and added to the digital ledger. Mining of cryptocurrency requires a computer and mining-specific software. The mining software’s purpose is to solve complex mathematical problems in order to secure the network. As payment for your computer solving these complex mathematical problems, you are rewarded with cryptocurrency. Different networks offer different mining rewards and typically, you are rewarded for having more computing power. Computing power/Hash value is driven by different hardware devices such as GPUs, CPUs, and ASICs. The barriers to entry with traditional cryptocurrency mining include hardware costs, electricity expenses, and technical know-how.
What Is Coinmine?
Have you tried to mine cyptocurrency in the past? Did some research and felt overwhelmed? For a beginner, there is a lot to learn. From which cryptocurrency to mine, to building a rig capable of profitability, to choosing the right GPU’s, etc. And that doesn’t even begin to scratch the surface of going it alone or choosing a pool. If you choose a pool, you need to weigh the pros and cons before choosing one.
Coinmine is a solution that is simple and allows you to start mining immediately without having to do extensive research, crypto rig build, and configuration. With Coinmine, you simply plug it in, power it on, and connect to WiFi. Then you are ready to start mini crypto from a simple, user friendly app on your smartphone.
What Crypto Currencies Can You Mine?
With Coinmine, you can mine the top cryptocurrencies from the comfort of your smart home right out of the box. Additionally, Coinmine is future proof and continually adding new cryptocurrencies to their offering. Mining options include proof of work, proof of stake, and lightning network. The following is a list of the crytpocurrencies that can currently be mined with Coinmine:
For the most up to date list of cryptocurrencies that can be mined via Coinmine (along with mining calculator), click the button below.
Specifications and Performance
Coinmine is an all in one solution that is simple to setup. There is no assembly to worry about, no software to install, no worries about synching blockchains to your home computer, and a completely hassle-free option for mining cryptocurrency from the comfort of your own home.
- Connectivity: WiFi or Ethernet
- Operating System: MineOS
- Weight: 12.25 lbs
- Sound/Noise Level: Similar to Desktop Computer
- Average Power Usage: 160 watts
- Warranty: 1 year
- Easy, simple setup
- Setup and control via smart phone (iOS & Android)
- Use services that exist today and ones that are coming in the future
- Multi-device support
- Earn 6.5% APR on the crypto held in your wallet
- Lightning Network compatibility
- Each Coinmine device is pre-synched with the Bitcoin full node
There are many barriers to entry to getting started with cryptocurrency mining. Whether you are new to the game or looking to mine cryptocurrency for the first time, Coinmine offers a simple solution to mining multiple different cryptocurrencies while earning an annual return on your wallet holdings.