Coinbase Ventures-backed Coinmine recently rolled out a new crypto mining device Coinmine One that will allow the users to mint cryptocurrencies from the comforts of their homes. As per a report, the device will allow the users to mine Ethereum (ETH), Ethereum Classic (ETC), ZCash, and Monero (XMR). However, it does not allow minting of Bitcoin on its platform. In the coming days, the platform will also support Bitcoin Lighting, Filecoin, Dfinity, and Grin.
The launch of Coinmine One at a time when mining virtual currencies at home are very difficult due to falling prices of cryptos and an increase in the energy costs is quite surprising. Coinmine One provides the cryptocurrency mining facility at home for $799. Importantly, this new gadget will eliminate the traditional and bulky mining process.
Coinmine One crypto mining device makes mining much easier
Traditionally, a miner has to manually assemble several computer graphic processors, set up a crypto wallet, download the software and set up a crypto wallet. But for using Coinmine One crypto mining device, a miner only has to power his device, connect WIFI and tap the touchscreen of his Smartphone to choose the coin he wants to mine.
Another interesting thing about Coinmine One is that it is a quieter, smaller and handier device much different from the unwieldy, specially-designed mining rigs. The device looks similar to a sleek Apple-esque design matching the size of a PlayStation video game console. Miners can use this pre-assembled device as a mobile app for controlling the cell phone. Interestingly, the device does not create any roaming sounds when users turn it on.
Coinmine One comes with a transparent, white cover and looks similar to a compact computer case powered by MineOS, an operating system updating the device automatically to support multiple crypto networks at a given time. Another great feature of this device is that it consumes only 120 watts electricity per hour, which is really very small.
Coinmine One wants to attract ordinary people in crypto industry
Despite the growing popularity of cryptocurrencies, one of the main challenges that the crypto market face is attracting ordinary people to invest and mine the cryptos. According to the CEO and co-founder of Coinmine, Farbood Nivi, “Crypto is about decentralizing information and money with decentralized computing. The more you can support the decentralization, the more people can support the decentralizing power, the more secure, powerful, reliable and valuable crypto becomes.”