Being a crypto miner basically means your computer works for you – This is one of the biggest misconceptions in cryptocurrency mining and probably one of the reasons many people start mining, to begin with. Mining is actually hard work, it requires researching and shopping for the best hardware, be it ASIC miners or graphic cards, it requires basic knowledge regarding the cryptocurrency you’re mining. Daily maintenance and monitoring is also something you can expect, along with many more obstacles.
That’s the first part.
Now that you have mined some coins, you have to use them to buy good or services (that’s the whole point of money, right?) but it might be complicated. Even with Bitcoin, which is a widely accepted currency, you may have trouble finding local stores that accept bitcoin payments. You now have to spend even more time exchanging your coins for Bitcoin, Bitcoin for fiat currency, and then you’ll send that fiat to your bank account, which will take some time.
To sum it up, mining can be as complicated as it is profitable and if done right it will take up a huge part of your daily life. The Exscudo team understands this, and has developed its platform with cryptocurrency miners in mind! What if we told you can simply pay for everything, everywhere with your newly mined coins?
No need to exchange them for Bitcoin or fiat, you can simply send them to your Exscudo account and buy anything with them! “How does it work?” You may ask. Well, Exscudo will allow you to add a special debit or credit card to your platform account, which will be connected to your priority wallet. You can change your priority wallet from your web browser or mobile app. This mobile app, Exscudo Channels, will allow you to send coins in an intuitive fashion by integrating this payment mechanism into a chatting application that allows you to send coins and valuable likes (small tips) while chatting. The app also supports traditional mobile wallet functions. Click here to learn more about Exscudo Channels.
This allows you to choose the coin you want to use according to the circumstances.
Mining doesn’t mean that you have to run and spend your coins as soon as possible, you may want to store some, especially when you think about how people that sold Bitcoin for less than a cent could now be millionaires. If you do decide to store your coins, Exscudo is the place to do it. Our top notch security will ensure your coins are not only handy but also 100% safe. This is because Exchange does not trade currencies, but only their substitutes, EON tokens. User accounts are secured by two-factor authentication which may be required in registration, login and all financial transactions. Personal data is also encrypted and accessed in a decentralized manner, making it impossible (Even for our tech administrators) to decrypt personal data and access user accounts. Exscudo also employs anti DDoS protection and preventive account blocking to mitigate brute force attacks.
Of course, it’s important to distinguish between a good investment and classic “Fear Of Missing Out” (FOMO), so remember to do your research and to never invest more than you can afford to lose.
Luckily, Exscudo also provideds a ready solution for miners that don’t want to host mining equipment. Since Exscudo is powered by the EON blockchain, a Delegated Proof of Stake cryptocurrency platform, users can receive EON tokens simply by buying and holding them in their wallet. The coins come from commissions from transactions in the blockchain, which include most operations in the Exscudo platform.