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Passive Crypto Income From Your PC’s Unused Resources? [GamerHash Review]

Quick rhetorical question: How does your high-end gaming PC spend its computing power while you’re not gaming? When you’re browsing Facebook, writing emails, or streaming Netflix, for example. Of course, the answer is, it only spends a small fraction of its peak capacity while not performing any resource-intensive tasks, such as graphically-demanding gaming. Now, wouldn’t … Continued

The post Passive Crypto Income From Your PC’s Unused Resources? [GamerHash Review] appeared first on BeInCrypto.

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Quick rhetorical question: How does your high-end gaming PC spend its computing power while you’re not gaming? When you’re browsing Facebook, writing emails, or streaming Netflix, for example. Of course, the answer is, it only spends a small fraction of its peak capacity while not performing any resource-intensive tasks, such as graphically-demanding gaming.

Now, wouldn’t it be great if you could “rent out” this spare computing power for some extra bucks whenever your PC is sparsely using its CPU and GPU?

The folks behind GamerHash say they can help you with that. In fact, so long as you enjoy playing video games, they promise to help you earn passive income even if you do not have a high-end PC. More on that later.

First, let’s delve into what GamerHash really is and more importantly, whether or not it is really a practical avenue for you to earn some passive crypto income.

GamerHash? Who are They?

GamerHash is a Polish blockchain firm founded in 2017. The company claims to have built an innovative, blockchain-powered application that lets you monetize the spare computing power of your PC. It’s like a self-financing supercomputer, they add.

Under the hood, GamerHash has some resemblance with multi-currency mining pool implementations. However, as a platform, it seems somewhat bigger than any run-of-the-mill mining pool. Also, the ecosystem, by design, has broader potentials.

The premise is simple. GamerHash offers a self-titled app that evaluates your computer’s capabilities at any given time and then automatically figures out the best possible way to earn that promised passive income on your behalf by using your PC’s unused resources to mine cryptocurrencies.

Gamers receive daily BTC income in the platform wallet.

You can spend your GamerHash earnings in pretty much any way you want. For example, you could hodl your earned Bitcoin as an investment. Alternatively, you could use it to buy games from the GamerHash online store, pay for groceries, buy a Netflix or Spotify subscription, and so on. There are more than 600 digital products in the store.

Who is GamerHash for?

Anybody with a laptop or a desktop computer (Windows 7 onwards) and an internet connection can download and use the GamerHash app. That said, you can earn a sizable passive income even without a high-end PC. In such cases, rather than renting out computing power, you earn your money by performing tasks in games. That’s the Play & Earn module.

From the looks of it, GamerHash has indeed done a neat job by making the app easy-to-use for pretty much anyone, non-savvy users included.

Passive Crypto Income With GamerHash: How Does it Work?

Getting started with GamerHashis easy. You just have to follow these simple steps:

  • Register on www.gamerhash.com.
  • Download the app from the website.
  • Launch the installer and follow on-screen instructions.
  • Once the installation is complete, launch the benchmarking process so the app can assess your system and make the most out.
  • No upfront fee required.

When you launch the app, it redirects the excess power of your computer and uses it to mine cryptocurrencies. And here comes the juicy bit that seems to make GamerHash more appealing to a wider spectrum of users. The app itself figures out the most optimal cryptocurrency to mine based on your computer’s available resources.

The system evaluates which out of the 12 supported cryptocurrencies should be mined using the host machine’s CPU and GPU. The Platform is intelligent and can calculate the most profitable option for users at any given time, which means it can switch from one asset to the other in real-time — no additional configuration needed.

This way, you can easily get into crypto mining even without any prior exposure to the asset class.

Payout Option

The mining funds are automatically converted into Bitcoin and deposited into your GamerHash BTC wallet once every day, provided your earning has exceeded 0.01 mBTC (0.00001 BTC). At $38.5k per bitcoin as of today, that’s just $3.9 in dollar-equivalence.

In the Play and Earn module, users can earn money by completing specific tasks such as playing a new MMO game, downloading an app from a GamerHash affiliate, and such.

GamerHash offers two built-in wallets: 

  • GamerHash BTC Wallet: It is the default wallet where your daily earning is deposited at 12:00 CET every day (provided it’s higher than 0.01 mBTC). You can withdraw this fund to an external Bitcoin wallet once you have collected 0.001 BTC or more.
  • GUSD Wallet: GUSD is the native virtual token in the GamerHash ecosystem, pegged to the US dollar. Users earning through the Play and Earn module receive their earnings in GUSD. However, as of today, you can not transfer your GUSD holding to an external wallet. You can only use it to purchase digital products from the GamerHash store.

Besides a decent number of popular games, the GamerHash online store has a few other products as well, such as Apple, Amazon, and eBay gift cards, that you can use to make purchases outside the GamerHash ecosystem. 
You can also use your GUSD stash to buy Netflix, Spotify, and Google Play subscriptions, as well as products from more than 9,500 grocery stores, among other things.

How Much Can You Realistically Earn?

The size of your daily earnings relies on three key factors: PC configuration, mining hashrate and the crypto exchange price. The more powerful your CPU and GPU are, the higher your earning potential. In general, users can get anywhere between 93% to 100% of their total earning.

If you’re using ASICS hardware, there is absolutely no fee whatsoever. For desktop users, GamerHash may deduct anywhere between 2% to 7% (90% of gamers have to pay only 2%).

As for users of the Play and Earn module, your income from GamerHash depends on the number of tasks you perform in games.

For perspective, at the beginning of 2021, the earnings with GamerHash app with top graphic card RTX 3070 and i5 10400F were $130 per month.

Just a Way to Supplement Your Income

Looking at the basic structure of the GamerHas ecosystem, it is fair to say that the company doesn’t promise anything unrealistic. You CAN NOT become rich overnight by simply renting out part of your PC’s computing resources to GamerHash.

It simply gives you the ability to supplement your income without basically doing anything. The app and your CPU/GPU combo will team up to earn on your behalf in the background as you go about your everyday schedule.

GamherHash: Scam or Legit?

Having been around for more than three years, GamerHash has so far maintained a decent reputation where the gaming and crypto communities overlap. The team has won top three crypto pitch competitions in top conferences including in Malta AIBC, Singapore’s BlockShow & Miami N.A.B. Conference. All of that in just three months so seems like good community-proof.

The platform claims to have developed a sizable user-base of more than 500,000 across the world. User feedback so far has been good if we go by the company’s online reputation. So, by that count, it has a proven track record that you would expect from a company you’ll be sharing your hardware resources with.

Moreover, GamerHash doesn’t ask for any sort of investment and the minimum payout threshold is also very low. Based on these factors solely, the company and the platform do not give any negative vibe whatsoever.

Additionally, GamerHash has bagged a key Malta Financial Authority license. Malta, popularly known as a blockchain island, follows a rigorous and complicated regulatory process before issuing licenses related to the crypto industry.

On the security front, GamerHash deploys the same infrastructure as the one that powers the likes of Docker1 Engine, Linux namespaces, and cgroups. The company claims that each individual component of its web app is kept in separate, isolated containers. This is to strictly limit each component’s access to only what it requires to function.

GamerHash Roadmap

Funding shouldn’t be an issue for GamerHash in the foreseeable future given that the company has just recently added fresh capital worth $2.8 million through a private sale of its homegrown GHX token. Also, with the recent breakthrough in Malta, GHX is now the first globally listed token to come with said Maltese license.

In addition, GamerHash has forged several strategic alliances recently to further enhance the platform on different fronts. For example, it recently teamed up with Coinfirm to introduce anti-money laundering (AML) and analytics in the realm of blockchain-powered gaming.

In another similar strategic partnership, GamerHash joined forces with Chainlink in July 2020 to pave the way for NFT adoption in the gaming community.

GamerHash’s vision is to establish itself as the Amazon-equivalent of NFTs. To achieve that, the team is connecting the dots to introduce blockchain in the gaming community in a fun and financially rewarding arrangement for all stakeholders involved. 

Given that GamerHash is the first touchpoint with crypto for a good chunk of its 550,000+ users,   the company is also focusing on educating users more about the asset class, which, in turn, encourages adoption.

Conclusion

Overall, GamerHash appears to be a promising platform that doesn’t make unrealistically tall promises like making you rich overnight. At the same time, it seems to offer enough substance to help you make some sizable and recurring passive crypto income.

Since GamerHash doesn’t ask for any upfront investment, you can download the app and try it yourself to check how much of those (promised) practically free BTC you can earn on average.

GamerHash - Make money on PC's computing power
  • Disclimer: All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
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Shilpa is a network engineer and management graduate who is deeply passionate about artificial intelligence and blockchain technology. She has been associated with several leading science & tech publications throughout her career as a journalist and columnist. Full-time foodie, semi-skilled musician, wannabe novelist.

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Source: https://beincrypto.com/passive-crypto-income-from-pc-unused-resources-gamerhash-review/

Blockchain

Bybit to Cease Services for UK Citizens Following the FCA Ban on Crypto Derivatives Trading

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The first consequences from the FCA ban on crypto derivatives trading in the UK are evident for the popular digital asset exchange Bybit. The company announced earlier that it will suspend its services to all customers based in the United Kingdom. 

  • Established in 2018, Bybit is a cryptocurrency exchange headquartered in Singapore with a reported user base of over one million registered clients. However, the firm will seize offering its services to UK-based customers, according to a recent press release
  • The statement informed that all UK users have to close all of their opened positions and withdraw all account balances by 8 AM UTC, March 31st, 2021. Following that date, UK citizens will be “restricted from accessing or performing any trading activities on Bybit.” 
  • Furthermore, the exchange will immediately restrict all new registrations using UK mobile numbers and/or IP addresses. 
  • Bybit’s decision is a direct consequence of a ban on crypto derivatives trading in the UK instituted by the country’s regulator – the Financial Conduct Authority (FCA). 
  • CryptoPotato reported last year that the watchdog planned to prohibit the sale, marketing, and distribution to all retail customers of crypto derivatives and exchange-traded notes (ETNs).  
  • At the time, the FCA described such products as “ill-suited for retail customers due to the harm they pose.” It also outlined that traders are unable to determine a reliable value because of the extreme volatility in the market and inadequate understanding. 
  • Interestingly, though, even the UK population couldn’t stop the FCA from implementing the ban as a survey compiled by the watchdog suggested that over 97% disagreed with the decision. 
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Source: https://cryptopotato.com/bybit-to-cease-services-for-uk-citizens-following-the-fca-ban-on-crypto-derivatives-trading/

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PAID Crashes 70% In Minutes as Network Purportedly Exploited

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PAID Network, one of the most popular Initial DEX Offerings (IDOs) that took place on Polkastarter’s platform a while ago and brought tremendous returns to private sale investors, is going through what seems as a massive attack.

  • PAID Network, one of the most popular and heavily promoted IDOs that brought massive returns to private sale investors, seems to have been exploited.
  • Multiple reports on social media point towards the exploit.
  • It appears that over 59 million PAID tokens were minted and sold through Uniswap.
  • This resulted in the price of the token taking a nosedive and decreasing by more than 80% in minutes.
paidchart
PAID/USD. Source: Dextools
  • At the time of this writing, the team hasn’t come up with an official statement.
  • Many in the cryptocurrency community speculate that this is a rug pull as the owner of the contract had the capability to mint new tokens.
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Source: https://cryptopotato.com/paid-crashes-70-in-minutes-as-network-purportedly-exploited/

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Bitcoin Losing the $50K Mark, Entering Bearish March: The Weekly Crypto Recap

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This week was tough across the board, not just in the cryptocurrency market. It was marked by a serious correlation between Bitcoin and the S&P 500, as well as the entire legacy market, in general.

As CryptoPotato reported, the abovementioned correlation reached a 5-month high. While this seems to be bearish in the short term, given that the stock market slumped following government bond yield that gave the market a jolt, there’s also a bullish argument to be made.

Last weekend, the US House of Representatives passed President Biden’s $1.9 trillion COVID-19 Relief Package, which also got a 51-50 approval vote in the senate. Should the legislation become effective, it could be the case that markets will recover. Given the high correlation, this might also play out positively for Bitcoin and the cryptocurrency market as well.

Nevertheless, the week wasn’t favorable for the market as the primary cryptocurrency, as well as the majority of large-cap altcoins, remained indecisive and failed to regain the momentum they previously had. Presently, Bitcoin is trading at around $49,000. Historically, March has been one of the two most bearish months for Bitcoin, on par only with September. After all, we did see Bitcoin drop by 50% in 2 days last March upon the announcement of the coronavirus pandemic.

Elsewhere, major news took place all over. Binance Smart Chain saw its first major rug pull as Meerkat Finance saw its protocol drained of over $30 million in both Binance Coin and BUSD.

We saw developments in regard to the BitMEX – CFTC fiasco. In a recent filing, it was revealed that the former CEO of the derivatives exchange, Arthur Hayes, could surrender to US authorities in Hawaii this April.

On the more positive and funny side, Mark Cuban’s Dallas Mavericks announced that they would start accepting Dogecoin as a means of payment for tickets and merchandise. The billionaire celebrity gave the most earth-shattering explanation for the move, saying they did it “because we can.”

It’s certainly interesting to see how the global macroeconomic outlook will pan out in the coming days. Will the markets start to recover, or is there more pain ahead? Only time will tell.

Market Data

Market Cap: $1,444B | 24H Vol: 130B | BTC Dominance: 60.7%

BTC: $48,959 (+2.94%) | ETH: $1,531 (+0.38%) | XRP: $0.462 (+3.89%)

Bitcoin Correlation With S&P 500 at 5-Month High: Is This Bearish for BTC? Data reveals that the correlation between the S&P 500 and Bitcoin’s price has hit a 5-month high. This was clearly confirmed over the past week as the cryptocurrency is following the traditional stock market very closely.

US House Passes $1.9 Trillion COVID-19 Relief Package, $1,400 Direct Check Provisions Included. The US House of Representatives has passed President Biden’s $1.9 trillion stimulus bill the past weekend. The Senate also voted 51-50 to proceed with the regulation. If successful, this will see another financial injection into the US economy.

First Major Rug Pull on Binance Smart Chain? Over $30 Million Drained. Meerkat Finance might have been the very first major rug pull on the novel Binance Smart Chain. The protocol saw over $30 million drained from it in what appears to be a rug pull. The community was taken ablaze as many people lost a lot of money.

Former BitMEX CEO Arthur Hayes Could Surrender in Hawaii in April. The former CEO of BitMEX and one of the most influential figures in the cryptocurrency industry, Arthur Hayes, could surrender to US authorities in April in Hawai. This became clear after new court documents were filed.

Mark Cuban’s Dallas Mavericks to Accept Dogecoin Payments. The Dallas Mavericks – an NBA team owned by famous billionaire and Shark Tank star Mark Cuban, will be accepting Dogecoin payments for tickets and merchandise. This became clear after a recent announcement where Cuban gave an astonishing reason for the move – “Because we can!.”

Tim Draper Handpicks Netflix as the Next Company to Purchase Bitcoin. According to one of the most popular venture capitalists in the cryptocurrency field, Tim Draper, the next major company to buy Bitcoin might be the streaming giant Netflix. He believes that the company’s co-CEO is the guy in control, and he thinks he’s an “innovative guy.”

Charts

This week we have a chart analysis of Bitcoin, Ethereum, Ripple, Polkadot, and Cardano – click here for the full price analysis.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


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Source: https://cryptopotato.com/107410-2/

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