Mining cryptocurrency has always been an appealing venture. Most people do not have access to dedicated mining hardware, which limits their involvement in this process. Honeyminer, a new application, lets anyone with a computer undertake cryptocurrency mining through a pool-based structure.
Honeyminer Changes the Game
Making cryptocurrency mining more accessible is a big undertaking. As all networks grow in popularity, competition among miners heats up significantly. More competition means users need more powerful hardware to contribute and make money. Honeyminer aims to simplify this process by making pool mining a lot more attractive
All users who rely on this application pool their computing resources together. As such, the combined effort is used to mine specific cryptocurrencies. All payments are settled in Bitcoin, even though it is not the currency being mined directly. Alternative cryptocurrencies are more accessible for users with a regular computer. Earnings may also be lower, but through the pool-based effort, everyone will benefit in the long run.
There is a genuine interest in this particular application. Honeyminer claims its user base has grown to over 10,000 in the first month. Consumers want to be exposed to cryptocurrencies in many different ways. As buying cryptocurrency remains tedious, mining it is another option worth exploring. All one needs is a computer with a dedicated graphics card to begin mining cryptocurrencies.
Cryptocurrency Continues to Grow
Applications such as Honeyminer will introduce a lot of new people to Bitcoin and altcoins. This growth is pertinent to make cryptocurrency succeed in the long run. Since there is no complicated setup process involved, it is very approachable by all types of users. The executable application takes care of all configuration aspects. It will also switch to more profitable cryptocurrencies to mine on a ten-minute basis.
A lot of computers have excess computing power not being used throughout most of the day. Putting that spare power to good use can generate a passive revenue stream. Supported currencies to mine include Ethereum, Ethereum Classic, ZCash, Monero, and smaller-cap currencies. They are all quite profitable to mine, which is why Honeyminer focuses on these currencies primarily.
One has to keep in mind this process requires a lot more electricity to generate cryptocurrencies. Offsetting the costs through daily earnings will be difficult for a lot of users. It is still an option worth exploring for users who see it as a long-term investment. Windows users can access the Honeyminer application from the website. A MacOS version will be released shortly.
Will you use the Honeyminer application? Let us know in the comments below.
Images courtesy of Shutterstock.