The brand new exchange Stormgain (sponsor of Newcastle F.c. - if you like football don't forget to check my last article about Sorare, a blockchain based football collectible fantasy game) just launched a new service, the cloud miner, which allows users to mine coins directly form the browser or form mobile app, without hardware usage (CPU or GPU). An idea which looks similar to other mobile-based cryptocurrencies, like Electroneum or Pi.
Basically, you're granted a small amount of crypto just to use your app and be part of the community.
So... is it REAL mining?
I'm not sure about it, but my guess is no. Stormgain itself is a little obscure about this:
Mining speed depends on StormGain's cloud servers. The speed is limited by the number of StormGain users participating in the mining process.Every 30-40 minutes, depending on the bitcoin block production time, mining profit is equally distributed among all users participating in the mining process.
I think no real activity of mining is provided by Stormgain, you can consider the coins you're "mining" as a slowly given bonus for the related trading platform. They stated you'll be able to earn 10$ in something like 10 days, not bad at all if you consider no investment at all (money, time or hardware) is required.
All you have to do is, literally, press a button every 4 hours to keep going.
What's the trick?
Obviously, there's a point: they're not giving 30$ a month to everyone in the world for free ;)
Mining profit will be credited to your USDT trading account. Please note that this profit can be used for trading purposes only; no withdrawals or exchanges are allowed. All trading profit made with the mined cryptocurrency belongs to you and can be exchanged or withdrawn without any limitations.
From what i understand, you'll not be able to directly withdraw your earnings to external wallet. What you can invest the coins you earned into their trading platform: you'll be able to withdraw your funds later if you make profits.
Conclusion
At the very end, i guess Stormgain is giving the possibility to new users to play and learn with their platform, investing little or no money. Instead of playing with a demo account, you can use real money to understand how to approach to trading activities. Furthermore, if you'll ever make any profit from this earnings, you'll be able to withdraw them.
So, is it real mining? I don't think so. Is it a good opportunity to learn something new? I think so, so I'm definetely giving it a try, i will something again in ten days as soon as I'll invest the firsts 10 $
Looking forward for your tip and follow to produce more of this content.
Love!
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