As cryptocurrencies gradually become an integral part of today’s global economy, investors are devising more ways of making money from this lucrative industry. Among the popular ways of earning in the crypto space is mining, a process through which miners create more blocks on a particular currency’s blockchain. Essentially, they mint new coins.
Coinface is a mobile application through which crypto enthusiasts can mine cryptocurrencies. The app creates new mining farms and develop a convenient platform to facilitate cloud mining. The app was masterminded by a team of engineers and software developers who are ardent believers in the disruptive power of digital currencies and blockchain technology as a whole. The ultimate goal of this project is to establish an innovative, simple and affordable platform for cloud mining.
Features of the Coinface Application
The dashboard is the equivalent of a website’s home page. Here, a user can access the details of the mined digital currencies, its history and withdrawals. The history outlines the date when the mining contract was initiated. In a case where a miner has invested in multiple cryptocurrencies, they have to scroll to the right to view the details of the additional currencies.
On the bottom of the app’s interface, there is an icon that resembles a clock. Upon clicking it, it opens the contracts page. This page displays the contracts that are currently ongoing, including details such as the expiry date as well as the hashing rates.
After the contracts page, the next is the cloud mining page. On this page, users can select the digital currencies they want to mine, along with the desired hashrate. Once this is done, a user has to press the ‘buy hashrate’ button to initiate the mining contract. However, one can only buy hashrates if they have sufficient tokens.
This is the page where users buy tokens to be used in the purchase of hashing power. Typically, a single token costs $1. After choosing a token that fits your intended budget, the app automatically directs you to the Payment Method page.
As the name suggest, this is the platform though which a user will pay for the tokens. Currently, the app supports two methods, Google Play and Payeer.
Essentially, this is the application’s control panel. In the settings page, a user can set up the wallet address to which withdrawals will be sent. Also, the user’s desired fiat currency is set on this page.
Advantages of Coinface App
- The simplistic user interface is friendly even to beginners.
- It is very easy to purchase tokens.
- The customer support is superb, and immediately responds to client queries.
- The charges are affordable.
Disadvantages of the Coinface App
- The app lacks a referral program.
- The app supports a limited number of digital currencies.
- The contracts do not go beyond one year.
- Supports only two payment methods.
- Absence of a mining calculator that is useful in determining the ROI.
While the app is simplistic and affordable, it lacks credibility. In a time when fraudulent HYIPs are a norm, Coinface has to prove its trustworthiness before investors can start downloading it.