The post Is Mining BTC with NFTs Legit or Scam: GoMining In-Depth Review 2024 appeared first on Coinpedia Fintech News

Since it was created back in 2009, Bitcoin has been the trailblazer of the crypto world. Climbing to unprecedented heights, everyone wanted a piece of the action, everyone, that is, until the cryptocurrency ran into stormy waters. Of course, every asset experiences such turbulence. However, it didn’t stop many from jumping ship and the resulting crash to follow.

Nevertheless, crypto has opened up a world of opportunity for businesses, investors, and traders alike. One such activity is Bitcoin mining. One of the cornerstones of the blockchain network, Bitcoin mining, performs the important task of verifying and affirming new transactions on the blockchain, essentially making them safe and secure. Its growing popularity has given rise to a variety of platforms, some legitimate and others more dubious, offering different ways to get a share of the mining rewards.

One of them, GoMining, has generated both intrigue and skepticism. Let’s clarify whether it is legit, or if there are any reasons to consider GoMining a scam.

What Is GoMining? 

A key player in the crypto mining sphere for the last seven years, GoMining has opened up the mining industry, breaking down barriers and enabling everyone to participate in the mining process. Users can earn Bitcoin rewards by holding NFTs that are backed by real computing power, accessible via GoMining’s nine highly efficient data centers worldwide.

GoMining’s innovative approach to mining, through the introduction of the Liquid Bitcoin Hashrate (LBH) protocol, gives participants the tools to get involved in mining without having to fork out all the tools. Acting as a mediator between a physical data center’s computational power and NFTs backed by a share of Bitcoin hash rate, GoMining makes it possible for everyone to get a slice of the action. On top of this, GoMining offers participants affordable ways to kick-start their mining journeys and ample rewards, truly marking a new era in mining.

How to Start Mining with NFTs 

Mining with GoMining is easy and straightforward, as it takes only a matter of moments to create your first virtual miner. With the introduction of the Mine Box Collection, users can create unique NFTs supported by real computing power, bridging the gap between digital collectables and cryptocurrency mining. Not only are the NFTs unique but users are able to adjust the computing power of their NFTs, giving them the power to customize their mining capabilities. 

Digital miner creation process, source: gmt.io

Once a miner is created, it exists only on the platform in a virtual form. It can then be minted on the Ethereum (ETH) and Binance Smart Chain (BSC) networks and traded on both internal, like the GoMining NFT marketplace, and external platforms, such as OpenSea. This offers users brand-new prospects within the expanding NFT market. What’s more, having a BTC mining power attached to an NFT, users can seamlessly sell it in case their strategy changes or they exit the project — far easier compared to quitting hardware-based mining. 

GoMining provides users with the opportunity to upgrade their NFT miners by increasing power and energy efficiency, boosting daily mining rewards and reducing electricity costs. Not only does this demonstrate GoMining’s innovation but it’s also an extremely user-friendly process, requiring only a few clicks. In other words, GoMining gives its users the flexibility to adapt to changing market conditions, maximize their mining potential effortlessly, and keep an emphasis on mining efficiency.

Affordability in Your Hands

As mentioned, mining needn’t be an expensive endeavor leaving the vast majority of participants footing astronomical bills. With a basic 1 TH/s miner cost as low as $22.99 (which might vary depending on exchange rate fluctuations), participants can hit the ground running. What’s more, GoMining gives its users the flexibility to enhance their NFTs gradually. Mining capabilities can be enhanced by simply acquiring additional TH (Therahashes) and energy consumption optimized, which in turn boosts daily rewards.

Miners are also able to add funds to their accounts by bank transfer. This functionality, which is still not a common sight in the crypto world, serves as yet another layer of trust and stability GoMining offers to the crypto community. On top of this, the built-in GoMining BTC calculator allows miners to keep a sharp eye on costs and to accurately create their mining strategy.

Earning Strategies

Various earning strategies available, source: gmt.io

GoMining introduces a refreshing approach to Bitcoin mining, offering NFT holders the option to follow three mining paths:

1. Solo mining: NFT holders can effortlessly mine Bitcoin daily by simply holding the NFT in their wallet with no extra effort needed.

2. Pool mining: Participants can join forces with other miners and pool their hashing power, giving their profits a boost. Users can also set up their own pools, further strengthening the mining community.

3. Staking and voting: veGOMINING, the company’s staking and voting mechanism, gives token holders the opportunity to gain governance rights and, consequently, enables them to influence how additional rewards get distributed. Apart from that, all stakeholders receive an APR in GoMining’s native GOMINIG token for participation in staking mechanics. 

GoMining Reviews

Despite false rumours of a GoMining scam and general fear in the crypto world, GoMining has nurtured extensive partnerships with celebrities and reputable entities, including tier-1 exchanges, to meticulously craft a trustworthy reputation for users to rely on. For instance, the company launched its exclusive NFT collection featuring UFC lightweight champion Khabib Nurmagomedov. There are also GoMining reviews available on various trusted platforms that give participants a good look at the company. 

On top of this, hundreds of positive GoMining reviews written by real users can be found on both the App Store as well as Google Play.

Final Thoughts

To wrap things up, GoMining has made efforts to build its reputation. High-level collaborations and consistently good reviews in the crypto sphere have secured GoMining’s place as a trusted member of the crypto community. However, potential investors must carry out thorough research before making any financial decisions. 

We encourage all of our miners to carry out thorough research and seek advice from qualified professionals before making any financial commitments. 

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Filed under: Bitcoin - @ April 19, 2024 4:20 pm