New blockchain solutions bring crypto mining to the masses

You want to become a crypto miner, but you don’t have the expertise or equipment to get started.

Don’t worry, blockchain is advancing exponentially, as is methods used to mine cryptos. The crypto community is realizing that critical mass is required to accelerate the mass adoption of cryptos, and so is working on solutions that are inclusive.

In contrast to the very energy-intensive and expensive conventional crypto mining methods, new opportunities arise that do not require you to own a supercomputer.

These methods either work on existing solutions like Bitcoin and Ethereum or bring their solutions. Top mining for the mass projects is worth mentioning here.

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The Nicehash approach.

Nicehash is a cloud mining marketplace where you can share your idle power with crypto miners or rent additional processing power from a pool if you’re a miner.

If you want to generate significant revenue from Nicehash as a seller of computing power, you need to install NVIDIA or AMD gaming graphics on your computer. With the graphics in place, all you need to do is download Nicehash, install it, and create an account. Once it’s set up, you’re good to go.

The Nicehash application acts as an intermediary between sellers of computing power and crypto miners. Their algorithm pre-calculates the ROI for different cryptocurrencies in order to determine which miner should use the pooled computing power. This means that only profitable miners have access to the pool, which makes the endeavor worthwhile for everyone involved.

The Genesis Approach.

Similarly, Genesis Mining lets you acquire computing power instead of owning mining hardware.

Crypto miners sign a two-year contract with Genesis in which they pay a one-time upfront fee. After that, they’ll be tied into the Genesis infrastructure to begin mining.

The mining power assigned to each Crypto Miner depends on the amount they pay. They can use their mining power for any crypto and receive the proceeds in bitcoins.

The IOTW approach.

If you’re like me, most of your electronic devices can connect to the internet. From computers and mobile devices to televisions, stereos, lights, stoves, doorbells, and water heaters.

If you’re still not into the smart home space, at least you have a smart TV, and your mobile devices and home computers connect to the internet too.

Thanks to blockchain, you can now make money on these devices when you are not using them.

A blockchain project called IOTW is working on a solution that will micro-mine IoT devices such as refrigerators, PCs, televisions, cell phones, electric cars and many others without incurring additional hardware costs. This means that you can get into the crypto mining game without investing in mining equipment.

All you have to do to start micro mining is download the IOTW firmware onto your IoT devices.

The project applies a mechanism known as Proof of Assignment to enable crypto mining. In simple terms, this method relieves IoT devices of ledger storage and eliminates the need for energy and storage-intensive methods of validating transactions.

Bottom line.

There are many ways you can mine cryptos without being a geek or investing in expensive mining software.

If you’re looking to mine the traditional cryptos like Bitcoin and Ethereum, solutions like Nicehash and Genesis can help. However, if you are looking for a whole new, different avenue with exciting opportunities, you should think in the lines of projects like IOTW.

In my opinion, mining is the best way to dive into the cryptocurrency pool, and there is no better way to do it than using risk-free mining approaches.

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