Coinmine is a Los Angeles based company that designs mining devices to allow its users to instantly switch the status of their mining and review their earnings estimates. It also aids in withdrawing (and/or receiving) cryptocurrencies, mainly Bitcoins and Ethereum. The company is founded by Farbood Nivi, in November 2018, and is backed by some of the big crypto market players including Coinbase Ventures, Morgan Creek Digital which is better known to be Anthony Pompliano’s fund and Social Leverage Capital Fund.
Coinmine is better known for its latest innovation of Coinmine One which is a DIY home crypto mining console that looks similar to a desktop computer or an Xbox. The device is designed while keeping in mind the need for average normal people who do not possess technical expertise of the crypto mining but are very enthusiastic about taking part in the cryptocurrency mining. Talking in this regard, Nivi said,
“We think there are a lot of people who want to participate in crypto beyond just trading. The only semi user-friendly experience has been exchanges, such as Coinbase or Robinhood. We think that part of what has been holding back crypto — and participation in it — is simply the amount of time and difficulty in building crypto hardware.”
Relevant Features of Coinmine
Easy Set-Up
Setting up the Coinmine device is very easy. All the users need to have is a robust Wi-Fi connection, smartphone and the Coinmine device to get started. It can be set up from any Android or iOS device and run anywhere by a Wi-Fi connection. Coinmine can be put anywhere in your office or your garage. Mining has never been so easy until Coinmine came into existence.
Multiple devices can be added
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With Coinmine, the users enjoy the liberty to add multiple devices into their account without any hassle. The easy setup of the device adds to the advantage of adding multiple devices in the users’ account.
Payout Eligibility
The rate of interest for Coinmine starts at 6.5% APR*, compounding monthly, and is offered only for Bitcoin and Ethereum. To avail the payout from Coinmine, the users need to have a minimum balance in their Coinmine Wallet latest by 12:00 am Pacific Time on the first day of each month, without making any withdrawal during that month. The users get the Coinmine interest payout into their Coinmine wallet on the first day of the following month. The first Payout being January 1st, 2020.
Send Bitcoins at Zero Cost
The Cryptocurrencies that are mined by using Coinmine are stored in the in-app digital wallet of the users. Because it is entirely based on blockchain technology, it allows the users to send Bitcoins at zero cost on the lightning network.
Upgrades Automatically
Coinmine products have the advantage of upgrading automatically to give users the most cutting-edge applications and development in the crypto ecosystem.
Excellent customer support service
Coinmine has the top-notch customer service team as reviewed by the users. The users can interact with the customer support team at any time even on Sundays via chat. They are very prompt in providing effective solutions to users.
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Therefore, Coinmine one has stolen the limelight to be a user-friendly plug-and-play Bitcoin miner that provides the fastest solution for Bitcoin mining. The simplicity and convenience of the app and gadgets that they bring to the users’ table are beyond praises. It is controlled by an app that lets the users view their balances, monitor their progress, and also switch the Cryptocurrency that they are mining.
