Bitcoin mining is highly profitable.
But when it comes to accessibility, mining falls short. The industry is still confined to a few, thanks to the massive initial cost of investment and technical expertise it demands. Bitcoin Minetrix is a new crypto coin that aims to lower the entry barrier to bitcoin mining.
While there are many cloud mining platforms that work with a similar mission, Bitcoin Minetrix sets itself apart with strong competitive edges. The mobile application’s biggest selling point is the transparency it offers through the tokenization of cloud mining.
BTCMTX presale raises $100K within minutes of launch
The BTCMTX presale went live recently. To the pleasant surprise of the market, it raised $100K within a day of the launch. Since the price is fixed at $0.011, the presale offers the cheapest gateway to the investment. The traffic to the presale hints at the growing interest in the project.
Bitcoin Minetrix (BTCMTX) tokenomics
But is it worth the attention? Here is a closer look at the project and whether it substantiates the mounting hype.
Bitcoin derivatives are trending
One of the biggest catalysts behind the reception of Bitcoin Minetrix is the hype around Bitcoin derivatives in general. Predecessors like BTC2.0, BTC20, and Bitcoin Cash have a history of generating large returns for early investors.
Bitcoin Cash (BCH) all-time price action, CoinMarketCap
That said, not all of these coins have been able to retain their value. For example, BTC2.0 climbed around 80X up the charts within a few days of going live. But soon, it fell to a point of no return and has been lying low ever since.
As far as long-term investors are concerned, speculation and hype are secondary. They are primarily interested in the underlying utility of the coin and whether it has market relevance. That’s what drives the value of a token and keeps it alive even after the hype has subsided.
An analysis of the Bitcoin Minetrix website, white paper, roadmap, and tokenomics reveals that a lot of thought and work have gone into the project. It is not another flimsy new crypto coin with a short shelf life.
Novel stake-to-mine-to-earn bitcoin utility dampens the selling pressure on launch
The key value proposition of Bitcoin Minetrix is to dismantle the hurdles to Bitcoin mining.
Traditional bitcoin mining is not for all. That explains why it is in the hands of a few companies today. Mining requires multimillion-dollar investments in high-tech hardware. The electricity costs are also substantial. They justify the allegations against Bitcoin’s power-hungry proof-of-work mechanism.
To live up to its decentralized ideals, Bitcoin mining should be accessible to more people. This is the mission that drives Bitcoin Minetrix.
Cloud mining is not perfect or passive
Cloud mining has helped the industry broaden its user base to some extent. But it is still daunting as far as an average investor is concerned.
To begin with, it’s not as easy as the platforms make them out to be. There are different types of cloud mining platforms with different levels of complexity. Most require an initial cost of investment in hardware. Some work fine with your extra computer devices, but still require your monitoring every few hours.
To put it simply, their functionalities are complex for a part-time, passive investor.
Bitcoin Minetrix (BTCMTX) comparative analysis
Although they are more cost-effective than traditional Bitcoin mining, the upfront investment in hardware takes away from their appeal. If you’re looking for a passive income stream that justifies the term ‘passive’, cloud mining is not for you.
This is where Bitcoin Minetrix steps in
In a first of its kind approach, Bitcoin Minetrix seamlessly integrates staking and mining. The mechanism allows it to strike a balance between accessibility and the earning potential.
How Bitcoin Minetrix works
VISIT BITCOIN MINETRIX WEBSITE
Bitcoin Minetrix mines bitcoin, so that you don't have to
To get started, you need to purchase BTCMTX crypto coins.
The BTCMTX presale that is now live offers probably the cheapest and most profitable entry point into the new crypto coins. They are priced at just $0.011 per piece now.
The presale accepts cryptocurrencies like ETH, USDT, and BNB. If you’d rather make the payment using your bank card, that option is available as well. (Make sure there is enough ETH or BNB to cover gas fees.)
The next step is staking.
You can stake your tokens by going to the staking dashboard on the platform. The APY stands at a substantially large 65589% now. It will decrease over time, giving a strong competitive edge to early investors.
Stakers will start to accrue more BTCMTX tokens as staking rewards in the initial stage. Once the stake-to-mine application is launched, you will be earning cloud mining credits instead of BTCMTX tokens. The application is in the development stage now.
Stake-to-mine credits are secondary non-tradable ERC-20 token credits. You can burn them in exchange for BTC cloud mining power, without spending your BTCMTX tokens!
The more stake-to-mine credits you burn, the more rewards you will earn. The rewards are paid in BTC tokens.
A secure cloud mining experience
Legacy cloud mining companies like Fancy Crypto, Happy Miner, IDMining, USDminer, Muxminer, and NFTProX have faced allegations of questionable behavior in the past.
So it is important to factor in the security aspect when you enter the market.
Bitcoin Minetrix sets an example in cloud mining security. First and foremost, it brings transparency into the picture by the tokenization of cloud mining. Bitcoin Minetrix doesn't require you to send cash to purchase mining contracts or hardware, unlike most platforms. It empowers you with complete control over your funds.
Remember, you are not burning your BTCMTX tokens to earn hash power or BTC rewards. They are yours. You are burning your non-transferable stake-to-mine credits. Nobody else can benefit from them, thus preventing the chances of theft and hacks.
The project has completed a comprehensive audit by the blockchain security firm Coinsult, which confirmed the absence of risks and vulnerabilities as well.
Conclusion
BTCMTX is one of the most promising cloud mining platforms to enter the market. Its robust makeup and reward mechanism give it high market relevance.
The project could follow in the footsteps of bitcoin derivative Bitcoin Cash and enter the top-50 chart within a year of its launch. Combining the speculative and intrinsic potential, a conservative price projection for the new crypto coin is 1000% to 1500% within a month of its release.
The growing hype around the token indicates an early sell-out. Once the presale concludes, investors will need to turn to public cryptocurrency exchanges to acquire the token at higher prices.
CHECK OUT BITCOIN MINETRIX WEBSITE
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
