Top Crypto Mining Projects For CoinQuora To Watch Out For
Top crypto mining projects to watch out for
Cryptocurrencies have become mainstream this year as retail and institutional investors continue to pour their money into the digital currency market. Apart from institutional investors, even countries have started to legalize the use of cryptocurrencies in their financial markets. El Salvador first made history by creating legal tender, then Paraguay legalized the use of Bitcoin and. However, as the crypto market generalizes, the focus has expanded beyond cryptocurrency trading, and the mining industry has become one of the more lucrative choices in recent times.
Crypto mining is a multibillion dollar industry in itself with the race to become the leading mining hub heating up after China’s recent ban. China was the world’s mining hub, accounting for over 70% of mining activity until May of this year. However, the gigs of carbon emissions and energy scarcity have led to the biggest crackdown on mining in mainland China, which has forced 99% of mining farm operators and miners to shut down their operations. It overshadowed China’s mining dominance, which helped the United States rise to the top.
With the mining exodus from China, the focus has also shifted to clean cryptocurrency mining due to a lot of FUD around the energy consumption by the Bitcoin network. Thus, the majority of new mining farms being set up have focused on clean mining. While clean mining is a priority for many, the mining industry remains limited to a few given the rising cost of setting up a mining assembly and then the cost of electricity that comes with it. . The complexities involved in the set-up process itself deter many. Another key issue is that most mining companies go public and therefore investment in the shares of these mining farms is also limited to institutional investors. So, despite Hut8 mining, Bitmain and several other companies, a new era of mining projects is needed to provide easy exposure to the masses.
Sustainability is the key
There are many mining projects available in the market promising to provide the best mining benefits to users. Mining pools are the second best option for small miners who can’t afford the latest ASIC mining machines but want to reap the benefits of crypto mining. However, mining pools also require users to share their mining power, which ultimately results in electricity bills. This is where a new coming of age project called the GMT Token is making headlines with its innovative business model.
GMT has developed a proprietary alternative that will eliminate unnecessary problems that limit the involvement of new entrants such as the high cost of mining equipment, the cost of electricity, etc. GMT has created a unique token, backed by computing power. The main distinguishing feature is that it gives users instant access to Bitcoin mining. Plus, unlike traditional mining, holders don’t need to spend money on equipment, and unlike cloud mining, GMT allows mining without time limits. Each GMT relies on real and constantly increasing computing power (measured in TH / s) via the SHA-256 protocol
Almost every week, the team introduces additional hardware and computing power. After that, 20-90% of the new tokens (provided by new computing power) are “burned” and the freed capacity is redistributed among the other tokens. As a result, the supply capacity of a GMT increases, resulting in revenue growth. At present, the company is working to obtain energy for the operation of data centers from renewable energy sources: hydroelectric power stations and wind turbines. In the future, the team plans to move completely towards sustainable energy consumption and minimize any ecological damage.
A project that offers all the mining benefits without the complexities
The GMT token project is making headlines for its innovative approach that attracts public attention. At its core, GMT is a unique project that makes it much easier for newbies to get started in mining: both for big investors and for those who want to make money from mining. Either way, this allows you to easily receive passive mining income.
GMT is easy to use and the team is constantly working on new updates. GMT is regularly listed on new exchanges (DEX and CEX) and soon plans to be listed on the most popular exchange – Binance.
Good news for those who care about security: GMT has integrated its token into secure hardware wallets: Trezor and Ledger.
By investing in GMT, users invest in a token that earns passive daily income. Such a token structure creates financial support for the investor in the event of market volatility and provides additional income. By the way, in addition to the mentioned listing on Binance, the company has other major goals: Over the next two years, it plans to achieve 4% of global BTC mining, in the long term – 20%.
Continue reading on CoinQuora
Fusion media or anyone involved with Fusion Media will accept no responsibility for any loss or damage resulting from reliance on any information, including data, quotes, graphics and buy / sell signals contained in this website. Please be fully informed about the risks and costs associated with trading in the financial markets, it is one of the riskiest forms of investing possible.