MoneyTech is a mining company that aims to democratize the world of cryptocurrency mining. Here’s our MoneyTech review.
What Is MoneyTech?
MoneyTech is the first crypto-mining company where owners of tokens also co-own a portion of a mining farm. The MoneyTech token (MT) is directly correlated to the growth of the company’s assets. Investors enjoy monthly dividends, and the company plans to install 70 mining rigs up to September 1, 2017.
Obviously, cryptocurrency mining is expensive. The setup costs are large, and there are ongoing maintenance, cooling, and electricity fees. These costs make it virtually impossible for individual users to run profitable mining operations. MoneyTech has come up with a better solution: make mining accessible for everyone. The platform democratizes mining by allowing anyone to invest in the platform.
MoneyTech is marketing itself like it’s a brand new idea, although the concept is similar to cloud mining services. MoneyTech, however, appears to take the cloud mining concept to the next level. The platform emphasizes widespread expansion, cost-efficiency, and profitability. It also uses its own cryptocurrency to make the entire ecosystem more efficient.
MoneyTech’s mining rigs are setup in Ukraine. The initial goal is to mine Ethereum and ZCash tokens. Ukraine was chosen because it has the lowest electricity costs compared to other countries. Today, MoneyTech has 4-card and 6-card setups that are actively mining Ethereum and ZCash.
MoneyTech is going through its ICO throughout July and August. You can buy MoneyTech tokens (MT). These tokens are created on the Waves platform. By buying MT tokens, you can get a share of the operation’s mining income – like a dividend.
MoneyTech will give 50% of all mining income to investors as dividends. The remaining 50% of income is used to cover maintenance and operation costs. Furthermore, every month, a dedicated 30% of income from mining will be put towards expanding infrastructure.
There will be a limited supply of 500,000 MT. As a token holder, you also get to decide which currency the company will produce. Open voting will be used to manage the direction of the company.
MoneyTech ICO is ongoing throughout July and August. You can participate at MoneyTech.farm. The final price of each MT token will be 1 MT = 1 USD. During the tokensale, you can buy MT tokens at a discounted rate.
If the company sells all its 500,000 MT tokens in the first week, they will setup 70 mining farms capable of providing a monthly production of ETH/ZCash of $56,000 USD from the first month.
Overall, MoneyTech claims to provide cryptocurrency mining for everyone. By pooling funds together, MoneyTech can launch a more profitable mining operation than individual miners or smaller mining pools. Here are some of the core features:
- Cheap electricity costs
- Wholesale prices for components and consumables
- Transparent realtime information about the company’s income
- Direct correlation of the coin’s capitalization and strengthening of the company’s production capacities
- Monthly investor’s income payout
MoneyTech has the following features:
Two Mining Farms:
MoneyTech has already spent more than $100,000 installing two types of mining farms. Those farms are currently mining ETH and ZCash.
Some rigs have 6 video cards, while others have 4 video cards. The rigs are equipped with Radeon Rx 570/580 or GTX 1060/1070.
The 6 video card setups produce 165 to 175 mh/s for Ethereum (leading to 3.6 ETH per month), or 1.6 to 1.9 kh/s for ZCash (leading to 2.55 ZCash per month). Meanwhile, the 4 video card setups produce 110 to 118 mh/s for Ethereum (2.4 ETH per month) and 1.07 to 1.27 kh/s for ZCash (1.7 ZCash per month).
The total future productivity of the farm, if the ICO is successful, will be generated by 70 mining machines (35 for Ethereum and 35 for ZCash) based on the rig specs listed above. That would lead to a total capacity of 63 kH/s and a total energy consumption of 65 kW/h.
MoneyTech’s team claims to have more than two years of experience in cryptocurrency mining.
Ukraine has some of the cheapest electricity costs in the world.
Adaptive Mining Technology:
MoneyTech’s rigs can be adjusted to produce any profitable cryptocurrency. MT token holders can vote on which cryptocurrency to mine.
Who’s Behind MoneyTech?
MoneyTech is led by CEO Anton Zaytsev, CFO Elena Poddoubnaya, and CTO Alexey Besarab. The team claims to have more than 2 years of experience in cryptocurrency mining.
The company has established its mining farm in Ukraine. The company uses hardware from the usual sources and manufacturers. Nvidia, AMD, Gigabyte, HP, Sapphire, Intel, MSI, and ASUS are all listed on the official website.
MoneyTech is a bitcoin mining operation based in Ukraine. The mining operation seeks to raise funds through an ICO to continue installing mining equipment. So far, the company claims to have invested over $100,000 in mining equipment. In the future, however, they hope to install 70 machines in total capable of providing a hash rate of 63 kH/s and an energy expenditure of 65 kW/h, which would be a profitable mining operation.
You can learn more about MoneyTech online today by visiting MoneyTech.farm. The ICO is currently underway throughout July and August. Anyone can participate and purchase MoneyTech (MT) tokens in exchange for dividends and profits created by the mining pool over the coming months.