Crypto Mining Token is a platform that is created to increase short-term profits from mining. This service operates as a decentralized and fully automated point of exchange between funds accumulated during the mining process and the CMT token.
The token is created in such a way as to exclude any possibility of interference in the management of the platform by both developers and third parties. All operations of the token are absolutely transparent due to the public nature of the Ethereum network used .
Information about the project “Crypto Mining Token”
The project administration characterizes its brainchild as an extremely profitable investment resource , which includes the following key characteristics and features:
- The concept of how the token works: Funds that accumulate as a result of mining are normally stored in the account and do not benefit the owner. The project radically changes this situation. By choosing CMT, in the future the user will receive profit according to his contribution to the system . Due to the increase in the value of the token, it will accumulate large profits. When investing funds, the investor pays a commission of 10% of the deposit , and in turn, exiting the project is subject to a commission of 4% of the funds withdrawn . These commissions are distributed in the form of dividend payments among active project participants. The participant’s share in the distribution of investments is determined by the share of his tokens in the project. We remind you that while the user is a participant in the system and has not returned his initial deposit, in the event of a crypto market collapse, there is a small risk, as a result of which the user may lose the unwithdrawn commission.
- As a token holder, the user will receive a corresponding proportional share of the transaction fees in the CMT token, according to the number of his tokens in relation to the total number of tokens in the network. All commission funds, as dividends, are transferred without commission .
- To reward active project participants who contribute more than 50 CMT tokens , the project provides a referral program.
- The user can invite other users to join the platform using their affiliate link. For each new user who purchases tokens, he will receive a bonus of 33% from the commission of this user .
Since we are dealing with a new phenomenon on the Internet, namely a smart contract based on Ethereum, you can only top up your account using this cryptocurrency.
And here are the purchasing instructions.
To top up, it is better to use specialized cryptocurrency wallets, namely MetaMask or MyEtherWallet.
Cryptocurrencies and cryptocurrency exchanges
The huge “boom” of cryptocurrency opportunities has done everything to ensure that people start trying to make money in a completely new area. All those who realized that the mining of bitcoins and their further sale are an excellent business, immediately began to search for equipment, but its cost immediately discourages them from trying to “join” this niche. What to do? Study the phenomenon called “cloud mining”.
What is cloud cryptocurrency mining?
In order to actually produce cryptocurrency, you will need equipment with enormous capacity.
But mining is the process of connecting your hardware power to an algorithm that helps develop a digital currency. That is, there is a certain process that allows you to develop new digital coins. It is ready to take over a significant part of the technical equipment in order to increase output. For this, the user receives his share of the cryptocurrency.
Types of cloud mining
At the moment, the following types of mining can be found on the market:
- Cloud mining, which is based on the purchase of power (the most expensive);
- Cloud mining without investment;
- With a registration bonus.
How to earn money without investment?
All services that allow you to earn money using cloud mining very often become like a pyramid, but... So-called Bitcoin faucets (distributing Bitcoins) have appeared on the market. Immediately after registration, users begin to receive satoshi (a derivative of bitcoin, like kopecks for the ruble). The main advantage of such earnings is that Satoshi can be reinvested in the system to increase your earnings. Clients do not invest money, but earn money from scratch. Next, they receive smaller pieces of Bitcoin and invest them again. A very promising scheme for making money (especially for those who are just trying to learn how to make money using cryptocurrency).
That is, working with cryptocurrency cloud mining services is very profitable. Among the advantages are the following:
- It's very easy to earn income. The main issue is registration. Next, the client can, if desired, invest money or use what is available;
- There is no point in being “online” consistently;
- Minimum “threshold” for entering the business: you can start even with $1 if you wish;
- A cloud miner is a specialist who does not need any specific knowledge. Everything is very simple.
This site offers a whole list of the highest quality, popular and successful cloud mining services. We tried to collect information on each, studied and analyzed in detail the conditions for work and income generation. Based on this, we created our own rating, which will help our visitors decide on the choice of service.
If you want to start making money using cryptocurrency, you should pay attention to this site. Cloud mining is one of the options to create passive income, which in the future will be much higher than the salary at your main job.
Project contacts
I was unable to find the names of the project organizers, company phone numbers, or links to social networks, except perhaps chat in Telegram and Discord.
But I couldn’t find the email addresses. And this is really strange, because this is supposedly an honest pyramid. So then give more means for communication with the administration, or not, weakly?).
Exposing the “Crypto Mining Token” project
It is extremely difficult to analyze smart contracts based on Ethereum or any other blockchain, since in this case a slightly different approach is needed to expose such projects.
The fact is that the Crypto Mining Token project has open source code, which allows anyone to get acquainted with this smart, and it is also a completely decentralized application that does not have patrons in the form of third parties, that is, banks, exchangers, and so on.
But the whole point is that none of the existing smart contracts are backed or confirmed by anything, but are guaranteed only by a mathematical equation. Moreover, smart devices have a huge number of shortcomings, ranging from errors in the source code to unstable network architecture.
In the case of this project, we are dealing with a mixture of hype, a pyramid and a decentralized exchange, the token of which does not have sufficient liquidity and unique technology.
And thanks to the presence of possible vulnerabilities in the source code, it can be faked and leave loopholes for withdrawing money where it is needed (especially if a blockchain specialist does this).
But in this case, we are not dealing with an ordinary classic hype, but with a so-called honest pyramid. This means that the admin really cannot just steal money and close the project whenever he wants , because this is technically impossible or unlikely.
Yes, and transactions can be tracked using the Etherscan service.
But the whole point is that both ordinary people and the team of pyramid organizers can send them, simply fooling the bulk of investors, since you can create an unlimited number of crypto wallets and assign them to your IP address.
We should not forget that the principle of operation of any pyramid is extremely simple: the first investors make a profit due to the influx of new investors , and payments will indeed continue, but only until the Crypto Mining Token cash desk runs out of funds. That’s when the “super-tech” pyramid will collapse.
About the Crypto.com platform and the role of the CRO token
Let's consider the functions that make up the ecosystem.
Crypto.com Pay
A mobile payment service that allows you to send or receive cryptocurrency. Powered by the native Crypto.com Chain blockchain. The main features are low or no commissions, low volatility and risks (you can accept cryptocurrency in your chosen fiat currency), ease of setup and management. The service allows you to make and accept payments for goods and services, use gift cards, add users as friends and exchange transactions with them.
Role of the CRO token:
- Up to 20% cashback for payment transactions.
- Up to 10% cashback for transfers to friends and transactions with gift cards.
Crypto.com Chain
A public blockchain that allows transactions around the world, both between people and between companies. Features: highly secure, fault-tolerant architecture, minimal fees and instant transaction confirmations, protected user privacy, open source code with the ability for users to suggest improvements.
There is a detailed technical White Paper for developers, covering issues of consensus, governance, security, privacy and other key aspects of the architecture.
The role of the token : staking and earnings on commissions for transactions taking place on the network.
MCO Visa Card
A plastic card that allows you to spend cryptocurrency anywhere without high fees and long payment processing times.
Accepted wherever VISA cards are accepted, that is, in more than 50 million retail outlets in the world, including abroad. Using the card provides additional benefits to holders. You can manage it through your account in the system. Fee-free withdrawals from ATMs are also allowed (unless the ATM owner has set their own fee). We recommend: list of Bitcoin cards. There are five types of cards available for order, which differ in cost and benefits:
- Midnight Blue. Free. Up to $200 per month cash withdrawal, up to $2000 non-cash payments. Cashback 1%.
- Ruby Steel. It is required to keep 1000 CRO in the account for 6 months. Up to $400 per month cash withdrawal, up to $4000 non-cash payments. Cashback 2%.
- Jade Green/Royal Indigo. It is required to keep 10,000 CRO in the account for 6 months. Up to $800 per month cash withdrawal, up to $10,000 non-cash payments. Cashback 3%.
- Icy White/Frosted Rose Gold. It is required to keep 100,000 CRO in the account for 6 months. Up to $1000 per month cash withdrawal, up to $20,000 non-cash payments. Cashback 4%.
- Obsidian. It is required to keep 1,000,000 CRO in the account for 6 months. Up to $1000 per month cash withdrawals, unlimited non-cash payments. Cashback 5%.
In addition, cards that are provided on a paid basis provide additional bonuses.
Token role:
- Reservation of the paid version of the Visa card.
- Cashback up to 5% on card transactions.
- Interest earnings on funds frozen for six months.
- Exclusive rewards for owners of more than 100,000 CRO.
Crypto.com App
The iOS and Android app allows you to buy, sell, store, send and track cryptocurrencies.
The patented Vortex Trading Engine pulls liquidity from major exchanges and distributes orders among them to find the best rate for execution. There are ways to interact with fiat, as well as an interface for managing the card. Token role:
- Participation in airdrops of new tokens.
- Increased reward for staking.
Crypto.com Exchange
An exchange for trading cryptocurrencies, providing deep liquidity and selection of the best prices for order execution.
Additional ways to earn money and receive bonuses. Flexible and scalable infrastructure for institutions. Spot trading functionality plus additional services for retail and corporate users are initially available. Token role:
- Staking with a yield of up to 20% per annum.
- Discounts on commissions for placing orders.
Crypto.com DeFi Wallet
A decentralized wallet application that leaves the user the right to store private keys.
Transactions with customizable confirmation speeds and network fees. Encryption of private keys on the user's device, as well as additional protection using a password, biometrics and 2-factor authentication. Interaction with other components of the ecosystem. Token role:
- Access to DeFi options.
- Improved staking rewards.
Crypto Earn and Credit
A solution for passive income on crypto assets.
The user can invest their idle funds for a fixed term (1-3 months) or a flexible term and earn up to double-digit annual interest rates. Earnings start automatically as soon as funds are deposited into the account. Crypto Credit, in turn, allows you to take out a loan in stablecoins secured by the cryptocurrencies BTC, ETH, CRO, XRP, LTC, XLM, EOS. The loan is issued instantly as soon as the user has replaced the collateral.
Role of the token: improved interest rates.
Conclusion about the project
As of the beginning of winter 2022, the cryptocurrency market continues to remain unregulated, representing not only an emerging market for digital assets of a new technological order, but also an impressive platform for all kinds of manipulations and fraudulent schemes.
Smart contracts are that very, completely new type of schemes to lure money from gullible users who believe that after they invest their money in one or another tariff plan, the “smart contract” will be able to somehow protect their money , guarantee their return and even make a profit.
What we have here is an ordinary innovative financial pyramid, “honest,” as the administrators of such projects and bloggers who make money on HYIPs of this type like to say.
But any pyramid ceases to exist as soon as the number of old investors begins to exceed the number of new ones, when the influx of money weakens and almost stops. This is when even the most technologically advanced pyramids collapse.
The logic of the Crypto Miner Token smart contract
The essence of how a smart contract works is very interesting from an economic point of view. On the one hand, it is somewhat reminiscent of a financial pyramid, on the other hand, it is also impossible to call this decentralized application a classic pyramid. Following the logic of the contract, any cryptocurrency that is traded on exchanges can also be called a pyramid.
Crypto Miner Token is an almost decentralized exchange, but only for one token and with the functions of distributing exchange commissions among all holders of the CMT (Crypto Miner Token) token.
In order to start working with a contract, you need to add any amount of ETH to the contract balance (but not less than 0.01). After this, you will be credited with a certain number of CMT tokens, which you can see on the project website. The cost of CMT will depend on the amount of ETH currently on the contract balance.
From this we can make the first recommendation - enter the project at a time when there is as little ETH on your balance as possible. To do this, you need to familiarize yourself with the dynamics of the balance of funds on the contract. This way you purchase tokens at a lower price and if the balance on the contract increases, the price of your CMT tokens will also increase.
You can exchange your CMT tokens for ETH at any time. This way you can make money on changes in the value of CMT.
