Matrixport: the next crypto trend of 2024 will be investing in bitcoin mining platforms

2 viikkoa ago 0 29

Representatives of Matrixport reported that investors will soon become increasingly interested in mining. This is due to the fact that bitcoin can grow to a record $70 thousand, and the level of profit in this case will be only 167%. To increase income, experts suggest considering other digital coins as an option for purchase. This approach will diversify the investment portfolio, and in some cases, users will have access to innovative cloud mining technology.

For example, the Bitcoin Minetrix platform offers new opportunities for BTC mining. This issue is especially relevant now, when the cryptocommunity is discussing the hypothetical launch of a bitcoin-ETF and the subsequent rise in the price of this major token.

Current problems of bitcoin mining on video cards

Mining is the process of creating new blocks on the chain, for which powerful computing technologies are responsible. It first became known in 2009, when BTC was launched. Of course, a lot has changed since then: the process of mining digital assets has become larger and more demanding. Now it cannot be run on ordinary home computers. Accordingly, special devices (ASIC miners) and more powerful and efficient graphics cards have appeared on the market.

However, this leap in development led to other issues and problems that began to worry investors. First, the complexity of the process itself has increased. Secondly, there are expected to be high costs for both the various equipment and electricity bills. It became unprofitable to keep several powerful video cards at home to generate bitcoins.

In addition, investing in mining usually involves a number of potential risks. Experts have compiled a list of problems that are currently of particular concern to participants in the crypto market:

The complexity of mining. This indicator is capable of constantly changing. The whole point is that it depends on how many miners are working in the network at a certain moment. For example, if they become more, then the complexity of mining, respectively, increases. And vice versa: if the number of miners decreases, the complexity will also decrease. In this case, as a rule, specialists can expect an increase in income.
Electricity prices are constantly increasing. As already mentioned, the process of mining requires a lot of energy. Accordingly, this aspect can have a significant impact on the final amount of profit. However, residents of Russia have a slight advantage, as it is in this country that there is a decrease in electricity costs, compared to the indicators in other countries.
High risk of hacker attacks and fraudulent actions. To date, cryptocurrencies are increasingly subjected to attempts to steal. Attackers are able to not just hack into the system of the miner, but also steal all the funds received, as well as important data.
A high degree of volatility of cryptocurrencies. The rate of digital assets is considered one of the most unstable indicators on the market. This, in turn, leads to a decrease in the level of income of users and the potential loss of all investments.
Hardware costs are constantly on the rise. This is especially noticeable when BTC reaches record highs. However, after the cryptozyme hit the market, demand began to gradually drop. It will take years for hardware spending to pay off.
Regulation of the industry. To date, the process of bitcoin mining attracts the attention of the governments of different countries. All over the world, the issue of controlling cryptocurrencies is given more and more time and resources.
Short lifespan of mining graphics cards. Bitcoin mining is a complex process that requires 24/7 operation of equipment. It is not surprising that after six months of such a mode, the equipment wears out. Thermal damage accumulates, and the card becomes unusable. This leads to the need to buy new non-costly equipment.
Since October 2023, the introduction of discriminatory tariffs for electricity has been actively discussed in the Russian Federation. According to Deputy Energy Minister Pavel Snikkars, this initiative will affect exactly the miners. This is how the government has decided to respond to the rapid growth in electricity consumption.

Bitcoin Minetrix – a new platform for bitcoin mining via steaking

However, developers are now actively working on finding a solution to all the above problems. Specialists are striving to revise the principle of coin mining to make it more convenient and accessible.

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This is how Bitcoin Minetrix appeared. This is an interactive platform for steaking and cloud mining. With its help, investors can avoid buying video cards and other equipment, but still earn BTCMTX tokens and bitcoins. Thanks to such a set of functions, the project quickly gained popularity among the participants of the crypto market. To date, the amount of investment in BTCMTX is more than $5.8 million, and the value of the asset itself is $0.0124.

In fact, Bitcoin Minetrix is a set of useful tools. First of all, it is staking. Such a mechanism allows you to block a certain number of assets and rewards their owners with bonus cryptocurrency payments. The size of the latter directly depends on how many coins the investor initially placed in the staking.

In addition, in the case of Bitcoin Minetrix, steaking plays an important role. It provides an opportunity to earn both BTCMTX tokens and “credits”. They should be subjected to burning and thus get more hash power to maximize bitcoin mining. It is worth noting that once the mining process is complete, all the coins obtained will be redirected to investors’ wallets.

The second Bitcoin Minetrix tool is cloud mining. Its main difference from traditional mining is that investors do not need to buy hardware. This approach can significantly reduce spending on hardware and energy bills, as well as provide safer access to digital coins.

With Bitcoin Minetrix, investors don’t necessarily need to understand how the mining process works. All they need to do is buy coins on the presale and put them into a stack so that they can later use those assets to increase their hash rate. From the additional pluses it is worth noting the absence of constantly noisy oversized equipment, the maintenance of which will require a lot of money.

The third tool that attracts the attention of early investors is the dashboard. It allows you to:

Select the number of coins to be hashed and determine their shelf life.
Designate the amount of hash power.
Collect and analyze data about user activity on the platform.

Right now, the BTCMTX token is on the 14th stage of the presale and is selling for $0.0124. However, the developers have planned only 39 stages of presale, which means that investors need to hurry up to buy the promising asset profitably. Its final value will be $0.0148. Project Features:

No expensive oversized machinery will be required.
The asset provides access to advanced technology.
Further development of the token depends on the popularity of the platform.

Conclusion

The cryptocurrency market is constantly evolving, and wherever a problem appears, an effective solution is soon found. At first, the community faced regulators and increased prices for mining equipment. After that, the developers presented a project that can act as an alternative to all the usual ways of mining tokens.

If more startups similar to Bitcoin Minetrix appear in the future, cloud mining will become even more popular. This, in turn, could well lead to a new round of development of the crypto industry.

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Author: Saifedean Ammous, an expert in cryptocurrency economics.