Rob Fraser here…
I have gotten involved in mining cryptocurrency in late 2017 maybe. Back then Bitcoin was popular and on its initial accent to around $19k per coin. Mining cryptocurrency is as simple as buying something called hash power. The more hash power you have is the more of a coin you can mine on a daily basis.
Today, I’m still receiving daily rewards from mining that I’ve started back in 2017. I will say there is no guarantee that a particular coin will be worth more, less, or keep the same market value. When I say market value, I mean the price that someone else is willing to pay for said item.
There is risk in mining cryptocurrency as with anything online. This is my disclaimer saying just be careful. You may want to also learn how to trade bitcoin and have a two-fold cryptocurrency strategy for earning daily profits online.
There are other ways to mine cryptocurrencies such as buying mining equipment but I just participate in the simplest way to mine by just purchasing mining power through companies such as Mining City which offers cloud mining. I will cover what cloud mining is later on in this post.
In the case of Mining City, you will be mining a cryptocurrency called Bitcoin Vault or you could choose to mine Bitcoin. The value of the coin will vary based on market conditions.
What Result I Want To Give You?
At the end of this post, I want you to have a basic understanding of how mining cryptocurrency works and how Mining City allows you to participate in the mining of Bitcoin Vault.
Mining City Review – What is it
Mining City is a company that offers a referral program and also allows you to mine Bitcoin Vault and Bitcoin through something called cloud mining. Cloud mining is a way to mine cryptocurrency without having to physically possess the hardware and related items to mining. Cloud mining also reduces energy and maintenance costs of using traditional cryptocurrency mining equipment.
Mining City was founded by Eyal Avramovich and you can look him up on Linked In here.
Mining City Review – Why Consider Joining
Mining City allows you to mine Bitcoin Vault and Bitcoin and earn daily rewards without having to recruit people or make sales. When I say daily rewards, I mean you will earn either Bitcoin or Bitcoin Vault on a daily basis. The amount of either coin you will earn is determined on the amount of hashpower you purchase. The higher the hash power, the more Bitcoin or Bitcoin vault you will earn on a daily basis.
Mining City Review – Tools of the Trade
One handy tool I recently discovered was the mining return calculator. The whole idea is to purchase mining power and then on a daily basis, get your coins that you mine.
Mining City has mining packages from $300 all the way up to $12,600. The $300 plan gets you 3 TH/s (tera hash per second) and the $12,600 plan gets you 138 TH/s. I’ll include a graphic below to show the plans. The more TH/s you have equals the more of the coin you will mine on a daily basis.
With each mining package, you will be able to mine for 1100 days. Keep this in mind when looking at the numbers below!
I chose to go with mining Bitcoin Vault and as of the writing of this post, each coin is worth $156.17. The $300 plan that provides 3 TH/s will get you 0.0050 Bitcoin Vault (or BTCV) a day or 0.1501 BTCV per month.
Breaking this down further and again this is based on the current market value as of the date I posted this blog! Also, the amount of BTCV you will get on a daily basis doesn’t change. The market value does change!
The $300 plan gets you 3 TH/s and that will get you 0.0050 BTCV (approx. $0.78 per day for 1100 days. 0.0050 BTCV per day is approx. 0.1501 BTCV per month (approx. $23.40 per month). Based on current market value 0.0050 BTCV for 1100 days is 5.5 BTCV which is approximately $858 based on today’s market value.
Again, this is based on today’s market value of the coin. $300 plan for $858 worth of BTCV over the course of 1100 days which can be cashed out daily and trade for Bitcoin or cash through Coineal (which is an exchange where BTCV can be traded, bought, or sold).
The $12,600 plan gets you 138 TH/s and that will get you 0.2302 BTCV (approx. $35.96 per day for 1100 days). 0.2302 BTCV per day is approx. 6.9085 BTCV per month (approx. $1078.90 per month. Based on current market value 0.2302 BTCV for 1100 days is 252.22 BTCV which is approximately $39,556 based on today’s market value.
You can learn more about the basics of trading, buying, or selling crypto from ICoin Pro.
There is no guarantee that you will get any money back on a daily basis. You will get daily rewards of the coin you are mining. The coins you mine can be converted to Bitcoin or cashed out in dollars or whatever currency you prefer to get.
Mining City Review – How to sign up
If you are in the U.S., then you will need to use a VPN. At the end of this post, there will be a linked capture page and marketing system for Mining City to keep an eye out for and that will also walk you through the sign up process.
Most companies want to protect themselves and not want to deal with certain countries. My personal disclaimer is to always use your best judgement and to be responsible. What I personally do is whenever I transfer the coin from the company back office to my exchange account, I start to track it.
Once the coin is in my personal exchange and I trade on it, is when I track it for tax purposes. What I do most of the time is keep a third of the coin in my exchange, I trade a third of it for Bitcoin, and I sell off a third of the coin for cash and use it for personal reasons.
Mining City Review – My Personal Thoughts
Mining popular coins such as Bitcoin no longer is profitable as it once was, but the altcoin that is Bitcoin Vault does have some potential for a long run at mining profitably.
If you would have asked me in 2019 if I would have gotten active in the cryptocurrency world again, I would have told you to “kick rocks!” 2019 was particularly rough near the end for me personally after having been involved in a number of passive crypto deals that went bust.
Most of those passive deals were centered around other people trading bitcoin and mining other cryptocurrencies. One of my main mistakes in retrospect was withdrawing heavily from my personal trading accounts and relying too much on passive cryptocurrency programs.
The trading I’ve learned from ICoin Pro was solid, but back then it did have a few missing key points. I discuss this further in my ICoin Pro Review. Those missing key points in ICoin Pro led me to finding passive online programs so I wouldn’t have to rely so much on trading for my income.
My main idea is to mine for cryptocurrency coins and get paid daily coins (which I can exchange for cash at any time) and use this in conjunction with my own trading.
I’m going to mine until I have a good amount of coin in my exchange and then start to trade on the balance. Cashing out my trading profits on a daily basis.