While Bitcoin currently holds at over $26,000, the new kid on the block, Bitcoin Minetrix ($BTCMTX), is capturing the attention of crypto traders. Its offer is enticing: a fully decentralized mining solution based on cloud computing where stakers earn credits they can directly use to mine Bitcoin. Does this mean that the famous Bitcoin could pump to $30,000?
Bitcoin Minetrix’s stake-to-mine feature helps alleviate selling pressure at launch and incentivizes long-term adoption. Presale opened with more than $100,000 contributed to the initial fundraise goal of $15.6 million. The race is on, as with 10 stages to the presale, and the token price increases 10% at each stage.
Already 383,179 BTCMTX are staked in the Ethereum-based smart contract. But what is really jaw-dropping is that stakers’ rewards, generated over two years, stand at an annual percentage yield (APY) of 108,739% although this will reduce as more enter into the pool.
Decentralized by design, the user owns tradable tokens in Bitcoin Minetrix, requiring no cash deposit, unlike traditional Cloud Mining. The risk is user-controlled allowing easy withdrawal and sales of assets. This stake-to-mine system puts the power to determine Bitcoin mining power into the hands of the users; directly related to earned credits and the number of BTCMTX tokens staked.
Utilizing Ethereum’s most secured smart contract platform, Bitcoin Minetrix offers efficient, reduced costs, and auto-management of user allocations by smart contracts.
While investing in Bitcoin Minetrix sounds promising and profitable, there are important factors to consider. Numerous cloud-mining services available are scams and none offer the benefits from the tokenized approach of the ERC-20 Ethereum-based BTC Minetrix token.
Caveat emptor though, cloud mining, often plagued with scams, is an appealing avenue for getting into BTC mining, and has fraudsters exploiting it, leaving buyers regretful. With Bitcoin Minetrix, risks are significantly reduced with its fully audited smart contract by Coinsult.
One must also note that while the low cost of entry in Bitcoin Minetrix presale is flexible for any amount, traditional cloud-based Bitcoin mining is associated with large minimum costs.
Crypto trading is a high-risk game, and while it seems Bitcoin Minetrix has stacked up against Bitcoin with its unique features, potential investors must also consider the market state, technological advancements, and the ever-evolving crypto landscape. Bitcoin Minetrix is one to watch, and though it may not be the solution for a potential pump in Bitcoin price, it surely presents an exciting development in the crypto world.
Source: Cryptonews
