Looking to mine cryptocurrencies but have no idea where to start? A new app claims to make the entire process easy, even if you have a consumer-grade computer.
Honeyminer, a free app that’s currently available on Windows, with a macOS option in the works, lets you earn small amounts of various digital currencies, including Ethereum, Ethereum Classic, Zcash and Monero, by adding you to a mining pool.
Related: What is Bitcoin?
“The miner doesn’t have to do the math or manage all the configurations and settings, or manually check the prices,” Honeyminer advisor Noah Jessop told CoinDesk.
“We make it so that any surplus compute, so any laptop you aren’t using all the way up to a rig that you run is automatically doing the most profitable computation.”
The company takes a cut of your earnings ranging from 2.5-8% depending on the quality of your hardware, then converts the rest into Bitcoin and sends it to your wallet.
Large-scale Bitcoin mining is extremely power-intensive, and as more and more of the tokens are mined, the harder the process becomes.
Bitcoin’s dramatic price rise last year led to huge demand for hardware from cryptocurrency miners. But with Bitcoin currently worth less than half the amount it had been worth around Christmas, GPU prices are expected to eventually drop − mining simply isn’t as profitable as it was a few months ago.
Honeyminer, however, is designed to make it easy to mine cryptocurrencies, and is largely targeted at people who want to dip their toes in the water without having to invest a chunk of cash.
Read more: Internet security guide
“If you hear about crypto and you want to learn, you can either go out and pay real cash money. Or you can download a program in 30 seconds and start earning your own crypto, for free,” Jessop added.
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Editorial independence means being able to give an unbiased verdict about a product or company, with the avoidance of conflicts of interest. To ensure this is possible, every member of the editorial staff follows a clear code of conduct.
Professional conduct
We also expect our journalists to follow clear ethical standards in their work. Our staff members must strive for honesty and accuracy in everything they do. We follow the IPSO Editors’ code of practice to underpin these standards.
