Mining Cryptocurrencies is becoming increasingly very hard, gone are the days when an average miner used to profit on a daily basis, things have changed. The costs of electricity, the machines and preservation costs.
This is really a great thing considering the usual costs of mining ethereum. The Minephone WX has the capability of mining Cryptocurrencies. Most powerful miners have a top hash rate of 390MH/s but the Minephone can push these hash rates up to 1000MH/s.
Many miners complain about the traditional mining equipment, for their low profits and low efficiency.
What if there was a way embracing portability, convenience and low costs in mining.
Is the Minephone WX the answer?
This is a usual phone running on a mediatek processor and 6 gigs of ram but it comes with other features that enable it mine cryptocurrencies.
It has all the capabilities of a normal phone but Bitwings(the company behind the minephone) added some features and subscriptions to make it possible to mine Eth. The phone costs 6000 Bitwings which is about $1200. After purchasing the phone you are required to pay for a mining activation fee which goes up to 13Eth
Below are the different configurations for the Minephone.
The low tier configuration with 100 MH/s(about 0.0077Eth a day) comes with a free mining activation fee.
300 MH/s (0.023Eth per day) costs about 4 Eth for activation.
600 MH/s (0.0462 Eth per day) costs about 8 ETh
1000 MH/s (0.077 Eth per day) the top tier costs about 13 Eth.
My verdict
This looks like a great concept only if you believe in cryptocurrencies especially the future price of Eth. The Minephone could mine up to 2 Eth a month but comes with a risk of investing 13 Eth. New members could play safe by buying the Minephone at around $1200 and start with the free tier or the least expensive tier of 4 Eth.
I think this is a big step to encourage such projects to come up, Overall it benefits Cryptocurrencies.
Check out the Bitwing products here
All pictures used on this site were got from here.
Originally appeared on my trybe account.
