Bybit derivatives exchange launches Ethereum cloud mining

On May 20, 2021, Bybit crypto exchange announced the launch of a new investment instrument – cloud mining. Users will be able to mine Ethereum (ETH) cryptocurrency with a minimum entry threshold and high profitability as part of the MaaS project (decryption: mining-as-a-service, mining as a service).

On May 24, 2021, access to the site is open to the general public.

Minimizing mining risks

Users are actively interested in mining against the backdrop of how steadily growing and developing the crypto industry in the past few months. At the same time, the sphere includes not only experienced users, but also beginners who are interested in a way to earn extra money by checking transactions using computational processes.

Conventional home mining is a time consuming and costly process. Factors that are holding back its widespread use:

• electricity costs;
• technical complexity;
• lack of equipment on sale and its high cost.

Cloud mining ByFi is able to solve these problems and attract a large number of people to mining, who have bypassed this method of earning money up to this point. Due to the ease of access to computing power and minimization of the entry threshold, mining becomes many times more affordable. The minimum investment within Bybit is only 100 USD, and the user does not need to buy equipment, take care of it, or pay for electricity.

Tariff plans

The platform offers three types of tariff plans for users:

• for 7 days;
• for 21 days;
• for 42 days.

Setting up short-term mining allows you to minimize the risk of losing money due to market volatility and unexpected rate fluctuations. The service is connected instantly after purchase.

Bill Sin, head of financial products by Bybit, believes that the new cloud mining service will be a great solution for people who are interested in cryptomining, but who have no desire to buy and maintain equipment. Within Bybit, the user is only required to buy the desired amount of hashrate for the required period, and then watch the profit.

About Bybit exchange

The Bybit trading platform was launched in March 2018 and almost immediately began to show rapid growth – it is among the most innovative and progressive cryptocurrency exchanges that allow trading derivative contracts for cryptocurrencies. The number of users exceeds 2 million. The speed of execution of contracts on Bybit is very high; the platform also has a comfortable interface, excellent transparency, and a wide range of tools for controlling risks. There is technical support in Russian.

Available derivatives: perpetual contracts BTCUSD, ETHUSD, EOSUSD, XRPUSD; line perpetual contracts BTCUSDT, ETHUSDT, XEMUSDT, XRPUSDT, BCHLINK, LINKUSDT, UNIUSDT, SUSHIUSDT, LTCUSDT, XTZUSDT, AAVEUSDT; inverse futures for Bitcoin and Ethereum.

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