What is the best way to mine cryptocurrencies? This question keeps coming up from both mining newbies and veterans. When Bitcoin started in 2009, it was very easy to mine BTC. But the mining difficulty is adjusted every two weeks. In other blockchain networks, this difficulty is adjusted more often. This has made mining extra difficult and even edged some people out of business.
The answer to solving mining difficulties is mining pools. This involves working in a group to consolidate the hashing power and cushion volatility of returns. But even getting these pools in a crypto world where anonymity is the order of the day remains a challenge. It is because of this that mining pool networks such as BitClub Network have emerged. In this post, we take a closer look at BitClub Network to establish how it works, its structures, and benefits of using it.
A closer look at cryptocurrency mining
To understand the structures and operations of BitClub Network, it is crucial to start by looking at mining and pools. Digital currencies such as Bitcoin and Dash use P2P (peer-to-peer) networks which bring together every person in the network. Mining in crypto networks is a process of verifying transactions by solving complex mathematical puzzles. It is also used to release new currencies/ coins in a network. Miners are rewarded using respective cryptocurrency assets such as BTC and Ether.
The process of mining has become very lucrative and attracted people in droves. To address the influx, blockchain networks adjusted the mathematical complexities which make it extremely hard to confirm transactions as an individual. To make mining viable, the solution has been working as pools to combine hashing power and confirm more transactions. You contribute the personal mining power and share the benefits with the entire group. This is the model that BitClub Network is using to make mining easier, fun, and more profitable.
What exactly is BitClub Network? How does it work?
BitClub Network is a community of global entrepreneurs who have congregated to make funds and amplify their digital assets. These assets include Bitcoins and Ethers. The network is registered as a company to help with administration and maintenance of the infrastructure. By working together as a team, the network takes advantage of its cumulative purchasing and programming power to give members an opportunity to make returns through profit sharing and direct investment in crypto mining.
To achieve the ambitious objective, the network has invested in special software that makes it possible to mine multiple cryptocurrencies. The software also helps to convert the cryptocurrencies into Bitcoins daily.
Mining through the network takes place 24 hours daily and 7 days every week. This means that returns are always flowing and available for sharing to members. Whether you are new or older in crypto mining, joining a pool such as BitClub Network is the ultimate lever to have sustainable and passive income.
Joining and getting started at BitClub Network
The network is open to all people who meet its requirement. To operate smoothly, it is also crucial to understand how cryptocurrencies especially mining operates. Here are the main requirements for those who want to become part of the network.
- Get an appropriate cryptocurrency wallet. This is the personal account that holds all your crypto coins in the selected network. Some great examples include Jaxx, Xapo, Coinomi, and BlockChain.
- Visit the BitClub Network site to sign up for an account. Here, you will need to provide personal details such as name and proof of address.
- Pay a one-time membership fee of $99. Note that the company does not accept any other type of payment apart from Bitcoins. Therefore, if you have fiat currency, make sure to change it for Bitcoins at top exchanges such as Coinspot.
Major opportunities for miners at BitClub Network
After joining the network, the mining opportunities start opening up. In line with the BitClub Network’s mission of helping users craft highly profitable enterprises, opportunities open for both short and long-term gains. To make these opportunities applicable depending on individual preferences, the network has created three key mining pools;
- Pool #1: In this pool, mining is divided into shares. Every share costs $500. The investment goes to funding mining operations. The profit realized from this pool is shared among the members. The members get 50% of profits while the remaining 50% goes to the network.
- Pool #2: Each mining share in this category is priced $1000. Unlike in the pool #1, investors in pool #2 get 60% of returns on their investment. Only 40% goes to maintaining the network.
- Pool #3: Under this category, investors pay $2000 and get 70% of the profits.
This means that the more a person invests, the more the mining/ hashing power he gets and the higher the profits. However, there is assurance of daily returns no matter the mining pool of choice in the BitClub Network.
Should you join the BitClub Network?
Now that you have understood the concept of BitClub Network, let us turn to its benefits. Is it the right place to join as a miner? Here are the main benefits of joining the club;
- Experts run the network. This means that that you can expect to get the highest possible ROI.
- The mining software allows members to target the most profitable cryptocurrencies. Therefore, if one of the cryptos becomes less profitable or experiences issues that pull down its profits, the network will automatically select a different highly profitable crypto.
- The returns are paid every day. This is very encouraging because investors can see the fruits of their work.
There are two disadvantages of joining the network. First, the ownership of the company is unclear. This has made even those joining the network to have some skepticism. Second, the cost of joining the network is very high. With the cheapest share pegged at $500, the number of those who can afford is very low. This high investment requirement filters off all those who cannot afford.
The final take
A closer look at the BitClub Network demonstrates it is a serious company with an expert team that is involved in real mining. With their commitment to daily payment, the company is a great point for both expert and new miners. Though the cost of joining is very high and the ownership of the network unclear, this is a great point to start mining profitably. Note that like any other mining venture, it is advisable to avoid placing all investments in one pool. Therefore, invest in BitClub Network, but spread the risk to other networks.