Bitcoin Minetrix ($BTCMTX) has raised $1.7 million as investors flock to its stake-to-mine ecosystem that can provide double gains.
The project provides easy access to a cloud mining solution through a tokenized process with staking.
The act of staking provides entry to cloud mining to earn $BTC while providing staking rewards, doubling the earnings.
Investors believe that Bitcoin Minetrix will transform cloud mining in the run-up to the Bitcoin block halving next year – providing the perfect opportunity to become an early adopter of a groundbreaking protocol.
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Bitcoin Minetrix Increases in Popularity After Raising $1.7 Million
The popularity of Bitcoin Minetrix continues to snowball as investors pile into the presale, bringing the fundraising for the project beyond the $1.7 million milestone.
Bitcoin Minetrix is a new ecosystem that introduces a novel stake-to-mine concept that helps you mine Bitcoin.
The project is set to tokenize the cloud mining industry by allowing everyday people to mine $BTC in a decentralized manner.
With its impressive performance in just over two weeks, investors are clearly touting the project as a disruptive force in the $BTC mining space.
In addition, the project is the first to fuse two of the most popular themes in crypto: staking and mining.
Stake-To-Mine Set to Overhaul Cloud Mining Sector
Investors believe that the stake-to-mine concept has the ability to overhaul the obscure cloud mining industry.
Cloud mining is a service that lets regular people mine Bitcoin without owning or maintaining any mining equipment.
Instead, users rent or buy a portion of the computational power of dedicated mining centers to get hashing power to mine Bitcoin.
As a result, cloud mining provides a cost-effective entry into the mining ecosystem without users having to worry about the space, noise, or resale value of the mining equipment.
Unfortunately, with billions being poured into the sector, a few questionable practices are occurring with cloud mining providers.
Typically, users are requested to pay large cash deposits to get mining services and are often left short on their expected earnings.
Bitcoin Minetrix intends to overhaul this industry through its tokenized process.
How Does It Work?
Users buy and stake their $BTCMTX tokens on the Bitcoin Minetrix platform to earn Mining Credits.
These Mining Credits are non-transferrable ERC20 tokens that must be burnt in exchange for mining time on the Bitcoin Minetrix service.
The tokenization ensures that end users retain full control of their funds along each stage of the process, as $BTCMTX tokens can be unstaked at any time.
It also removes the need to send cash deposits to purchase mining contracts.
Furthermore, as the smart contracts automatically manage user allocations, the expected earnings and payouts are entirely transparent.
The smart contracts behind the project have been fully audited by Coinsult – a well-respected security firm in the blockchain space – providing peace of mind for all investors.
Furthermore, those staking their $BTCMTX are also earning an APY return on their staking, providing a double passive return.
Currently, those staking their $BTCMTX tokens are earning a whopping 350% on their deposits;
As expected, this APY return is expected to drop as more users enter the staking pool. However, the return remains considerably higher than most proof-of-stake projects today.
The staking pool has now seen almost 120 million $BTCMTX already being staked, meaning most early investors are choosing to stake their tokens.
It currently provides 158 $BTCMTX per block in rewards.
Early Presale Prices Continue to Countdown
The presale for Bitcoin Minetrix continues to snowball after crossing the $1.7 million milestone.
The popularity continues to rise as many influencers start to talk optimistically about the project’s future.
For example, Michael Wrubel, a YouTube analyst with almost 400,000 subscribers, stated that he’s incredibly bullish about the future of $BTCMTX, with the block halving approaching.
Other influencers, such as Zack Humphries, have also endorsed the novel cloud mining approach proposed by Bitcoin Minetrix.
The presale is currently selling the $BTCMTX token for a price of $0.0011.
This is a discounted price considering that the cost of the token will rise in the next stage of the presale – currently expected in eleven days.
Therefore, those investing earliest stand to benefit the most as they leave the presale with higher levels of unrealized returns.
Overall, with the Bitcoin block halving on the horizon, cloud mining services are expected to increase in popularity as investors seek to mine as much Bitcoin as possible before the rewards half.
As a result, Bitcoin Minetrix will see a large slice of new users as its transparent and decentralized tokenization ensures that end-users are being treated fairly.
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