Mining cryptocurrency can be slow and energy-draining especially if you are not familiar with the process or you are just starting. However, some modern-day innovations like Coinmine help in making these processes easy and less tedious. This Coinmine review revealed that it was specially designed to make mining easier and more fun.
In this Coinmine review, we will highlight the features, pros, cons, pricing, and other key features of Coinmine.
What is Coinmine?
Coinmine is an all-in-one crypto miner that was designed to create an affordable and easy design that assists cryptocurrency miners. It was launched in 2018 and Co-founded by Farvood Nivi. With the Coinmine box, you can mine cryptocurrencies like Ethereum, Zcash, Grin, and Monero. The newest feature of the product allows its users to get paid in bitcoin but it doesn’t mine Bitcoin.
Coinmine box has an easy-to-use interface and can be installed on any android or iOS device.
Features of Coinmine
In this review of Coinmine, we found outstanding features that make Coinmine unique.
The Coinmine app works on any Android or iOS device. You can control all the activities using your phone once you download the app. With the app, you can switch the cryptocurrency you are mining, review your earnings, and also withdraw using the in-app wallets. These are just a few of the activities you can perform with the Coinmine app, there are still more to it.
User interface (Plug and Play)
Coinmine looks like a box. Once you get it, all you need do is just to unpack it and then plug it in. the use and installation were made very easy for users. Mining crypto with the box is one of the easiest things you can do.
Coinmine sound and light
Coinmine is accompanied by sound. Once you plug it in, it produces a sound estimated to be around 40 decibels. Some people find the sound cool while some other people see it as noisy. When you plug in the device, the light also comes up. This light and sound feature help to indicate that the device is on and running.
The Bitcoin mode
With the Bitcoin mode, you can convert your mining earnings directly to Bitcoin. Although you can Bitcoin using Coinmine, you can transfer all your profit to Bitcoin without having to use the four cryptocurrencies. Have in mind that before you can withdraw, you will have met the amount set for each coin. Your withdrawal request can take up to 72 hours before it can be processed
Constant Over the Air Updates
Coinmine constantly gives over-the-air updates to MineOS. The updates will help you to know the best and new cryptocurrencies to mine and also the staking options available.
The MineOS is the built-in custom operating system
Coinmine has a built-in wallet that allows you to withdraw your profit. With the wallet, you can also carry out other transactions during the mining process. You can easily mine your cryptocurrency and save it using the in-app wallet.
For you to be able to reach Coinmine’s support team, you can do that through their email address or Twitter and Instagram.
Which cryptocurrency can you mine with Coinmine?
There are four easy to mine cryptocurrencies in Coinmine. They include:
- Monero (XMR)
- Ethereum (ETH)
- Grin (GRIN)
- Zcash (ZEC)
Pros of Coinmine.
Coinmine has some advantages over some other similar machines.
- The MineOS feature helps to convert your Crypto to Bitcoin at fair rates. This saves you stress and energy.
- The user interface is very attractive. Coinmine was designed to make mining easy for users. You can easily set it up and it is easy to use. There is nothing complicated about the machine.
- With the over-the-air update features, you will get updates on the best cryptocurrency to mine at the moment. It saves you the energy of constantly seeking Updates.
- The Coinmine App makes it easy for you to mine at any given time as long as you have good Wi-Fi.
How does Coinmine work?
This review on Coinmine revealed that both newbies and expert miners can use Coinmine. You don’t need to be a computer expert to be able to use Coinmine. Once you plug the Coinmine, every other setup will be done with the mobile App either with an Android Device or iOS. It takes just a few steps to start mining using the Coinmine. Here is how:
- Plug the device into electricity
- Using your Android or iOS device, install the app
- With the app, connect the device to your Wi-Fi
- You can now mine your preferred coin.
How much does Coinmine cost?
The machine cost %699. You can pay using the four-interest free payment mode if you select Quad pay. For each quarter, you can pay $174.75. There are two modes of payment, you can pay using US dollars or pay in Cryptos.
For people who buy in bulk three or more units, there is a 5% discount price on the total purchase. In the same way, if you buy ten units or more, there is a 10% discount.
Is Coinmine a good investment?
For anyone who wants to make money through mining in an easy way, Coinmine might be a good investment. The question of whether it is a good investment or not will be decided by the individual. It is your sure guide to mining even if you are yet to learn everything about the technicalities
The price of $699 seems somehow to be on the high side, but there are chances of you covering up for the expenses since you will be making profits from mining your Crypto. The question is how long till you recover your ROI? Since it is estimated that using the Coinmine machine can generate up to $15-20 per month of Bitcoin at US prices. However, this estimation is not fixed because the price of the coin you are holding can appreciate at any time. Each time it appreciates, you will earn more profit.
How much money can you make with Coinmine?
The developers estimate that you can make $15-$20 when you mine with the machine. However, this differs based on users. When you subtract additional expenses that come with the machine-like increased electricity bills, you will find out that your profit level won’t be up to that amount. The Coinmine device consumes up to 160 watts. With the amount of profit estimated to be made by the developers per month, it will take up to 45 years or more to get your full ROI. However, always remember that nothing is stable in Cryptocurrency.
If you order the Coinmine device, it will take up to 2-3 weeks before you can receive it. For the shipping, it is done only for users within the USA. Coinmine does not ship its product to users outside the USA.
If the product is delivered to you in a bad state, you can return it with proof and it will be changed.
If you make an order and wish to cancel it before the shipment, you are also free to do that.
How legit is Coinmine?
After the Coinmine review, we can say that there is no bad record associated with Coinmine. It does exactly what it says in terms of mining. Mining with Coinmine makes crypto mining easy and quick.
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This review on the Coinmine app highlighted everything you need to know before purchasing the device. For beginners, the price of purchasing is quite high. You can check other similar devices that are cheaper. Also, the time it will take you to cover your ROI is long, so if you are not sure f mining for long, or whether you will be in the Crypto space for a long time, you can avoid getting the Coinmine device.