On Friday, Bitcoin Minetrix, a cloud-based Bitcoin mining platform based in T'bilisi, Georgia, announced it had raised $500,000 in presale funds. The platform operates on the Ethereum blockchain using ERC-20 technology and utilizes a distinctive Stake-to-Mine strategy. This approach allows users to mine Bitcoin by staking $BTCMTX tokens into a smart contract, shifting the mining process from large corporations to individual investors.
The company's business model offers two passive income opportunities: staking of $BTCMTX coins yielding an annual return of 1,193%, and mining returns proportional to token contribution. To attract more users, Bitcoin Minetrix also hosts a $30,000 Minedrop draw. Several crypto influencers such as Crypto Gains, Cilinix, Melos Crypto, Zach Humphries, Michael Wrubel, and Austin Hilton have endorsed Bitcoin Minetrix on their YouTube channels.
A key feature of the platform is its focus on decentralization to mitigate the risk of a 51% attack and address issues of excessive mining centralization. The Stake-to-Mine system and Bitcoin's hash rate are integral to its operation and potential profitability.
In related news on Friday, an article offered comprehensive guidelines for buying Bitcoin with a credit card in 2023. The process involves choosing a reputable cryptocurrency exchange, understanding exchange fees and limits, setting up a secure cryptocurrency wallet, ensuring credit card eligibility for international transactions, and recognizing the significant role of credit cards in payments.
The article also provided reviews of top exchanges like Coinbase (NASDAQ:COIN), Kraken, eToro, Gemini, and Crypto.com based on user interface, fees, and supported cryptocurrencies. It emphasized safety measures such as two-factor authentication (2FA), hardware wallets for added security, and regular password updates. Additionally, it covered transaction fees associated with credit card purchases, tips for successful transactions, and guidance on what to do after buying Bitcoin.
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