Chainmine allows you to earn money by mining Bitcoin without buying them. You can easily set your prices and configure your mining process the way you want.
Mining cryptos is one of the ways to increase the amount of Bitcoin you have in your wallet. And chainmine is a platform that claims to help you achieve that.
This article will let you know some certain things about the platform. So, you can decide if the website (chainmine) is legit or another scam.
Let’s dive straight in.
Chainmine is a website that allows Bitcoin mining without the need for expensive hardware. The platform lets its customers make more Bitcoin by setting up their mining strategy.
You can easily make money in Bitcoin without fees and term limits. And one of the good things is that you won’t need expensive hardware for the mining process.
But, is it legit? Find out everything you need to know about the platform below.
Is Chainmine Legit or Scam?
I know this is the main question you would want to know the answer to before you become a user. After all, there’s no point joining chainmine if it’s not legit.
Well, as it stands, chainmine is fairly new. And that means that they’ll need time before one can label them either legit or scam.
However, there’re lots of negative reviews on different review sites. And it means that you need to be careful with the website.
But, just to give you a hint on what you should do, here’s what I have to say about the platform. Make sure you read what you should know below before you consider joining chainmine.
What You Need to Know Before Joining Chainmine
While chainmine claims that you can start mining by setting up the process, you should know you’re not the one handling it.
The platform is taking care of the whole process. You just have to watch how your Bitcoin increases. Mining is a technical process that involves the use of some expensive hardware to generate Bitcoin.
Bitcoin mining is a good way to earn more Bitcoin. On the other hand, it can be hard to deal with without a good mining platform.
So, you have to look for a legit mining platform to mine Bitcoin. And whether or not chainmine has the required tools to mine Bitcoin remains to be seen.
How Chainmine Mining Works
The process to become a member and start mining Bitcoin on chainmine is not a hard task.
You just have to sign up, then you might need to upgrade your account. After that, you’ll just have to watch how your Bitcoin increases.
After successful registration, you’ll receive a bonus and their cloud miners will start to mine your Bitcoin. This means that once you’re a member, the system is mining your Bitcoin instantly.
Why You Should Upgrade Your Account
You’ll have to upgrade hardware to increase the rate at which your Bitcoin increases. The default total power is 1.02 TH/s. And you need to upgrade the power if you don’t want to earn just pennies.
To upgrade your account, you can either “buy via BTC” or “buy via chainmine”. If you’re going to upgrade via BTC, you’ll see the address you’ll send the Bitcoin to on your dashboard.
The minimum hardware you can buy to upgrade your account is 0.00040350 BTC to a maximum of 3 BTC. You’ll be seeing the history of all your upgrades on the upgrade page.
They claim that any amount lower than the minimum won’t be processed by the system for technical reasons.
How to Sign Up
You can become a member and start mining Bitcoin within a few minutes. Just follow the steps below.
- Visit chainmine registration page and click on “sign up”
- Then input your email, username, and password
- After that, click on “continue” to create your account
Once you have created your account, you can sign in to see how your dashboard looks like. You can then upgrade your account to buy more power.
Chainmine Referral Program
The referral program is available to all customers. Once you register, you can share your referral link with friends and those you think will be interested to join the platform.
You should know that chainmine supports 3 level referral system. Every new customer who signs up through your affiliate link is your first-level referral.
So, for every new customer who signs up with your link and purchases hardware power, you’ll receive a 7% commission.
If the person you invited follows the same pattern and invites a customer who buys power, you’ll earn 2%. Also, if your level 3 referrals refer new customers, you’ll earn 1%.
FAQs About Chainmine
Here are answers to most of the questions people ask about the platform below.
Is Chainmine Legit?
Chainmine has lots of negative reviews on different review sites. That means that the platform is not transparent. Therefore, you have to be careful with the website.
What Does Hash Power mean?
Hash power is power the hardware uses to help solve some algorithm problems to generate Bitcoin.
You’ll need it before you can mine Bitcoin but chainmine offers it as a service for their customers. This means that they’ve provided the hardware power for their users already.
How Can I Upgrade My Account?
You can upgrade your account by paying via BTC or using chainmine. Just login to your dashboard, click on upgrade, and upgrade the way you want.
How Do I Get More Power?
You can increase your total power by upgrading your hardware. In the same vein, you can invite a new user to get more power.
How much Can I Earn?
The amount you’ll be earning depends on how you’ll upgrade your hardware to get more power.
You can upgrade your account by paying up to 3 BTC. The more power you buy, the more Bitcoin you will earn.
In the same vein, referring users can earn you up to 10%. And the more users you invite mean more earnings.
How Can I Withdraw My earnings?
You can withdraw your earnings anytime you want. To withdraw, just log in to your dashboard and click on transfer BTC.
However, you must reach the withdrawal threshold before you can withdraw. The minimum amount you can withdraw is 0.00005790 BTC.
How Do I Contact Chainmine Customer service?
If you have a question and you need to contact chainmine customer support, you can reach out to them via email at [email protected]. Also, you can contact them via their social media platform.
Chainmine has been operating as a Bitcoin mining site. And you can also join and start mining Bitcoin.
However, there’re lots of negative reviews about the platform. So, I’ll advise you to be careful with the website.
I hope you found this chainmine review helpful.
If you need to ask a question, make use of the comment box below.