Bitcoin mining has become one of the most exclusive clubs in crypto with vast resources needed to purchase and manage expensive and energy-hungry mining rigs.
However, Bitcoin Minetrix is now allowing retail investors the chance to earn Bitcoin mining rewards from just $10 having launched the world’s first stake-to-mine token, $BTCMTX.
The project has only just started its presale but opened to huge excitement, with $100,000 invested in the first hour alone.
With a minimum purchase of just $10 every day investors are now able to be part of the Bitcoin mining ecosystem and earn BTC without any hassle.
What is Bitcoin Minetrix?
Bitcoin Minetrix (BTCMTX) has just launched to huge excitement as it offers a low barrier for entry into the usually exclusive Bitcoin mining community.
Mining companies spend millions on high-powered computer equipment and millions more on the energy needed to run their rigs, but through cloud mining the door is now open to all.
Bitcoin Minetrix offers a simple solution for users to join in on Bitcoin mining, simply purchase BTCMTX and then stake it in exchange for cloud mining power.
Staking and mining are two of the most popular themes of Bitcoin and crypto investment, but no other projects have combined them in this way.
The staking pool has already seen huge uptake, with more than 400,000 BTCMTX already locked into the staking pool.
As well as being converted into mining power, BTCMTX also offers passive token generation simply through its staking mechanism.
Generating 158.5 tokens per ETH block, the current annual percentage yield (APY) is 103,225% – although this will decrease as more tokens are locked inside.
Staked tokens can also be burned for allocated mining time which will reward them with a percentage of the mining revenue.
The main process sees users purchase and stake BTCMTX to gain cloud mining credits, which are non-tradable ERC-20 tokens.
They are then burnt in exchange for cloud mining power and by using the cloud mining credits, BTCMTX tokens remain safe and in the holder’s hands at all times.
The mining credits are burnt for allocated mining time, with mined BTC then transferred back to an individual wallet.
Managing tokens will be made incredibly easy by a dedicated Bitcoin Minetrix mobile app, with work already started on bringing that to market.
The beauty of Bitcoin Minetrix is that tokens can be bought with just a $10 minimum purchase and there is no need to own or manage any other mining infrastructure.
Cloud mining is much more efficient and eco-friendly than traditional Bitcoin mining – with its energy consumption one of the biggest criticisms of the network.
Individuals or groups rent or purchase a share of computing power specifically set up for the purpose.
Traditionally, cloud mining sees customers enter into contracts that specify the amount of hash power and time allowed.
Unfortunately, the cloud mining economy has become riddled with scammers who demand cash upfront but often misrepresent how much can really be earned.
Complicated contracts make it difficult to work out how much BTC one might earn from cloud mining, while added fees such as energy consumption and hardware maintenance also eat into the profits.
Bitcoin Minetrix is avoiding these pitfalls by simplifying the process and also allowing investors to hold onto their BTCMTX tokens. As outlined above, staking will generate the non-tradeable cloud mining credits, which are used to generate the hash power.
There’s a lock-in period, also controlled and determined by the investor, unlike the fixed timeframes in other cloud mining projects.
Its biggest benefit is also the low barrier to entry, with just a $10 presale purchase enough to get started on the platform.
Bitcoin Minetrix has had its token smart contract fully audited by respected blockchain security firm Coinsult, with no risks or issues discovered.
As numerous other projects like Bitcoin 2.0 and BTC20 have shown in recent months, Bitcoin derivatives are hugely appealing to investors.
While BTC itself is one of the best-performing financial assets of all-time, its current price means many feel they have missed the boat on its biggest gains – a pump to $100,000 would take incredible volume and investment but only mean 4x gains from the current price.
BTC20 pumped nearly 6x after it launched while Bitcoin 2.0 saw incredible 189,000% gains in July.
BTCMTX, based on the cheaper and more efficient Ethereum network with added utility, could see huge gains in the near future and the strong start of its presale has highlighted huge early community interest.
BTCMTX Tokenomics and Presale Info
The Bitcoin Minetrix presale has just launched but secured more than $100,000 of investment in its first hour.
There will be 10 presale stages in all, with tokens currently on sale for $0.011 – by the final stage that will have increased by 8% to $0.0119.
The project has a max supply of 4 billion coins with 70% of those (2.8 billion) open to presale investors.
There is a soft cap of $15.6 million (1.4 billion tokens) and a hard cap of $32 million.
As mentioned above, the minimum purchase is just $10 which, at the time of writing, will return 909 tokens – BTCMTX can be purchased with ETH, BNB, USDT or bank card.