Since cryptocurrency mining has become a global phenomenon, more people realize the potential for relatively high returns.
However potential miners are faced with barriers to entry such as: expensive equipment, high energy costs, and a long waiting period to realize a return on investment.
Cryptocurrency mining is a term given to the computing process that is used to solve equations. In solving these equations miners secure the network, validate all transactions and seal the immutable records on the coin’s blockchain.
The inherently complex and highly technical process of cryptocurrency mining has many barriers to entry. Non-professional investors often do not have the technical expertise and financial capital to start mining on their own. Such an expertise includes buying the correct equipment, setting up a data center, and ensuring there is adequate network connectivity, etc.
Furthermore, non-professional investors who may want to stop mining will have difficulty selling the equipment.
The process of getting the right equipment and setting up the operations can take up to a year for a non-technical investor. This means, within that year there will be no rewards or earnings, as the investor will be setting up.
Several cryptocurrency firms are trying to simplify the process of cryptocurrency mining so as to attract inexperienced investors. GoMining has created a comprehensive ecosystem in the form of the GMT token that addresses enter level investor problems.
When GoMining took into consideration experience and existing barriers to entry in the cryptocurrency mining space, they designed the GoMining Token (GMT).
The outstanding feature of the GMT is that, unlike other smart contract tokens, each GMT is backed by real computing power. The fleet of devices has more computing power than average equipment any user can buy.
Important to note is that SHA-256 mining units are used in the GoMining facilities to mine Bitcoin (BTC). GMT initially had 100 000 000 tokens backed by 100 000 TH/s but due to the burning process these numbers changed. They continue to buy new equipment, increase the capacities which in turn impacts the token supply capacity which will affect the cost of token and its BTC income.
GMT is backed by computing power that is already in operation mining BTC, enabling users a daily BTC income. Income in the form of BTC is transferred directly to the wallet of the token holder on a daily basis from the pool to which the computing power is directed.
GoMining is underpinned by BTC because the capitalization of BTC is higher than all other cryptocurrencies combined and ranges from 50% to 70% of the entire cryptocurrency market. Furthermore, BTC is powered by a PoW concept and SHA-256 encryption algorithm.
Benefits of GMT
- Investment in BTC mining – users make a direct investment in existing operational power. Users do not have to take on the hassle of purchasing equipment, setting it up, and having background knowledge on cryptocurrency mining
- Quick exit and profits through the sale of the token – the token is a high liquidity asset and it can be sold in the market quickly.
- Unlike the hardware used to mine, which would take a long time to sell, and it is subject to materialistic wear and tear, there is such hassle with GMT
- Double profitability for investment protection – the GMT token affords users a daily passive income, users are also investing in growing exchange-traded assets. This profit structure creates financial support for the user
GMT makes the mining process less power-consuming by ensuring the average tools the miners use consume more electricity. The equipment distributes energy evenly and doesn’t allow excessive power consumption.
GMT Token Issuing
Initially 100 000 000 tokens were issued. 1 GMT was backed by 0.001 TH/s but now, after the burning process, the numbers changed.
The process of burning looks like this:
- GMT bought the new equipment and introduced 20 000 TH of computing power
- Then they issued 20 000 000 tokens on ERC-20 standard and burned half (10 000 000)
- They further redistributed the rest of the capacity (10 000 TH) among the entire volume of tokens
- As a result, the token supply capacity increased by 8.3% and now amounts to 0.001083 TH/S
In the future, with each additional emission GMT will burn from 20 to 100 % and redistribute capacities to active tokens.
How to purchase
The purchase of a token can be done on the website, using the crypto-to-crypto model. Every user purchasing GMT must specify the ETH wallet and where the purchased tokens will be transferred. The users must also specify the BTC wallet where the mining income will be sent.
After registering and filling in the necessary information there will be a synchronization between the GMT tokens stored on the ETH wallet and the BTC wallet will be automatically formed in the user’s personal account. This synchronization is necessary for the calculation of the amount of BTC earned by the GMT holders.
The purchase can also be carried out on centralized (CEX) and decentralized exchanges (DEX). The list of exchanges where the token is presented is indicated on the website https://token.gomining.com/.
Most of the centralized exchanges that feature the GMT token provide a holder with daily payments in BTC via internal transfers to a BTC spot wallet.
In order to receive mining income from GMT, purchased on exchanges where internal accrual of income is not implemented, a token holder needs to register personal account on the website https://token.gomining.com
Profit Accumulation System
Token holders receive profits on a daily basis. The profits are paid out directly from the pool that is connected to the GoMining computing power. The profits are then transferred to the specified BTC wallet.
In order for users to receive their tokens and profits, they must register an account on the website and provide a wallet address for BTC and ETH. These wallets can be from different platforms, as they will be connected on the GoMining platform. Users can change their BTC wallet addresses at any time.
The GMT investment strategy is based on three principles; token rate-independent income, multiple fundamental growth, and real security. Token rate-independent income, each token is backed by an already functional power with an expected yield, coupled with an increase in the value of BTC.
Multiple functional growths refer to the increase in demand for mining hardware which was catapulted by the rise in public interest in BTC in 2020 and 2021. This rise was coupled with a drop in microchip production. As a result, there was a shortage in the equipment market, which led to multiple increases in its price.
GMT strives to constantly improve
After introducing new equipment, an additional issue of 10,000,000 tokens was carried out on the Binance Smart Chain blockchain platform. Additional emissions will occur many times, in proportion to the introduction of additional capacities.
Funds raised from the sale of tokens are used to purchase new equipment. After plugging equipment into the network, GoMining issues additional tokens in an amount equal to the volume of the additional hash rate. After purchasing the new equipment 20 000 TH of computing power was introduced. Then 20 000 000 tokens on ERC-20 standard were issued. Half of those tokens (10 000 000) were burned. The rest of the capacity (10 000 TH) was redistributed among the entire volume of tokens. As a result, the token supply capacity increased by 8.3% and now amounts to 0.001083 TH/S
In the future, with each additional emission Gomining will burn from 20 to 100 % and redistribute capacities to active tokens. The power that backs 1 GMT will grow steadily, followed by the growth of the mining income of token holders. Thus, the constant fundamental growth of the token, which means a constant increase in the value, is at its core.
By improving the quality of equipment, introducing new technologies for mining BTC, will be increased, as a result, the GMT income will surpass the income from traditional mining.
Real security refers to the real indicators of equipment and their value completely protects the token from falling to negative values for the investor since the value of the token cannot be lower than the cost of the equipment it is backed with.
In addition to the available tools, GoMining will act as market makers of the token, independently and maintain its value by protecting investors. GoMining also offers fund insurance, which serves to cover the negative difference in the cost of electricity in case of an extremely low drop in the BTC rate and other unforeseen situations, such as natural disasters.
GoMining offers its users a well-thought-out cryptocurrency mining service. GMT holders are able to enjoy a passive income while investing in an expert-operated system. Furthermore, GoMining dedicates its resources to finding the most environmentally friendly ways of mining cryptocurrency and ensuring its users enjoy an optimal experience.
In a world undergoing technological revolutions, more people and organizations look into outsourcing tasks to machinery. Furthermore, investors are encouraged to pursue passive income so they can spend more time doing things that matter to them. The GoMining cryptocurrency mining service affords users the above experience.
Users are able to acquire GMT on ERC-20 standard Uniswap, 1inch, SushiSwap, BEP-20 standard on PancakeSwap, and the GMT website.
For more information visit the website.
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