StumbleUpon In the early days of cryptocurrency, mining was all the rage; it was not uncommon for a tech-savvy crypto-fan to mine significant amounts of Bitcoin through transaction verification.
But as the demand for the product grew and public interest in the mining process reached its peak, the difficulty of making significant strides—or even understanding the tech behind the process—increased exponentially.
In the modern age of cryptocurrenciesmining is often considered an inefficient and inaccessible way for someone to make cryptocurrencies like Bitcoin and Ether.
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The level of technological expertise is high, and competition continues to drive out smaller groups and corporations. The sheer electrical power setup required to mine worthwhile amounts of various currencies precludes many individuals from getting involved. Still, the price spike in Bitcoinand the slow climb of previously unknown currencies, has pushed many back into a state of deep interest in the process of mining.
Still, though, these individuals generate the public need for an accessible way to participate in mining effectively.
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Nano Mining is a Scottish company which seeks to do precisely this. Nano Mining offers a sophisticated mining setup and the opportunity for eager and interested investors to participate in the mining—and to reap the rewards. How Nano Mining Crypto Mining Service Works As opposed to the traditional, home method of mining currencies, a centralized mining operation paying relative dividends to investors offers several notable advantages.
Naturally, the advantages to this kind of operation come primarily from the lack of technical involvement required on the side of the investors, and the distinct lack of direct work involved in the actual mining process.
The three main operative advantages listed on the Nanopool website include quality equipment, economical and efficient use of mining equipment, and minimal risk. Though the quality equipment and economical mining may be old news to those investors well-versed in the concept of pool mining, the third argument may be of particular interest.
The relatively recent rise of Ethereum as a blockchain platform as helped to alleviate many concerns of security levied against early budding blockchains. The nanopool system operates entirely on this blockchain. Consumers should be aware, however, that a pool mining system is, by its very nature, centralized.
Those with hash power are able to choose in what mining markets to pool their resources in exchange for the profits garnered from this investment.
Purchasing some of the 50 million coins currently available give users relative power; investors can either sell the coins once prices hopefully rise, or they can use the coins to purchase space in one of the cryptocurrency mines run by the company.
Doing the latter entitles the investor to the profits from the mining, whereas the former generally allows for a quicker, safer profit.