Trading in cryptocurrency is only one way to earn money in the world of the blockchain. If trading is not your strongest skill, then you might want to consider mining for the cryptocurrency. Mining is the process of verifying transactions made between other users, and releasing new cryptocurrency tokens. The only downside of mining is that it requires a lot of processing power, which means you have to invest a lot of money in a mining rig, and a lot of energy. So much energy, in fact, that it has become difficult or even impossible to make a profit from mining in certain parts of the world. This has put many people in the West off from mining cryptocurrency. However, a new mining platform called WinMiner is aiming to change the paradigm.
What is WinMiner?
The basic premise of WinMiner is to allow people to utilize the computational power of their devices when they are otherwise idle. By simply clicking one button, users can activate WinMiner, which will then use the CPU of the device to mine for tokens while the user is away. The development team behind WinMiner has designed the platform with the user in mind. No expertise or technical knowledge is required to use the platform, and everything has been set up to be as intuitive as possible. The team behind WinMiner also wants to challenge the current status quo in the cryptocurrency mining industry. At present, it is only companies that can afford the expensive mining rigs that do most of the mining. By investing large amounts of money in data centers, these companies can outperform even the most enthusiastic solo miner. WinMinet aims to change the landscape for miners.
The co-founder of WinMiner speaks out
Ariel Yarnitsky is one of the founders of WinMiner, and sheds some light on his motivations in an interview with VentureBeat:
“In creating WinMiner, we envisioned a platform that anyone can easily use that means not only operating it with just one click but also absolutely no need to know anything about crypto and mining to enjoy its benefits, all the way to getting paid in real U.S. dollars. To do that we broke the entire process of mining into steps, automated each part, and then integrated all of it into one step. We have added a wide selection of payouts, and a smart algorithm for always mining the most profitable coin.”
Complex algorithms are at work
Despite the ease of use that comes with WinMiner, the underlying technology is far from simplistic. In addition to supporting over 40 different cryptocurrency tokens, the platform also ensures that users are only mining the most profitable tokens at any given time:
“WinMiner’s ease of use is the result of very complex and intense mechanism that runs seamlessly in the background. All coins supported by WinMiner (over 40 at the moment) are continuously monitored to make sure every user is mining the most profitable coin for his hardware at any time. Mining pools are run across several continents for every coin being mined on WinMiner. Automated trading algorithms run on many crypto exchanges around the world to trade the mined coins on their way to become hard dollars. A user just needs to install the software and have an email address; the platform does the rest.”