Gomining

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This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Gomining?

Gomining is a blockchain-based platform that simplifies Bitcoin mining by providing user-friendly access to mining power through NFTs backed by real computing power. It emphasizes transparency, fairness, and environmental sustainability, offering fixed and flexible staking rewards and daily BTC rewards. The platform is designed to make mining more accessible and convenient, with a focus on user experience and ease of use.

How is Gomining used?

Gomining is a platform that allows users to mine Bitcoin using NFTs. Here's how it works:

  1. NFT Purchase: Users buy NFTs from the Gomining marketplace, which represent fractional ownership of real Bitcoin mining equipment in their data centers. Each NFT has a specific hash rate and energy efficiency, indicating its mining capacity.

  2. Mining: Once an NFT is purchased, the user starts earning Bitcoin rewards daily, without needing to maintain or manage the mining equipment. The rewards are based on the NFT's hash rate and energy efficiency.

  3. Upgrades and Enhancements: Users can upgrade their NFTs by acquiring additional hash rate and optimizing energy consumption, which boosts their daily rewards.

  1. Mining Paths: Gomining offers three mining paths: solo mining, pool mining, and staking and voting. Users can choose to mine solo, join a pool with other miners, or participate in staking and voting to influence reward distribution.

  2. Token Usage: The GoMining token can be used to purchase NFTs, pay for goods and services, and receive royalties from sales through referral links.

  3. Account Management: Users can manage their accounts by adding funds via bank transfer and using the built-in BTC calculator to track costs and create a mining strategy.

Overall, Gomining simplifies Bitcoin mining by providing a straightforward and profitable way to earn rewards without the need for individual equipment maintenance.

How do I store Gomining?

To store Gomining (GMT) tokens, you can use a virtual wallet provided by GoMining. This virtual wallet is automatically created for all signed-up users and allows you to store your GMT tokens and NFTs securely on GoMining's servers. You can access and manage your tokens and NFTs within the GoMining service without needing to set up an external wallet.

How to buy Gomining?

To buy Gomining (GMT) tokens, follow these steps:

  1. Create an Account:

    • Sign up for a personal account on the GoMining website, which allows you to link your Gomining wallets and buy GMT tokens conveniently.
    • Alternatively, you can create an account on a cryptocurrency exchange that supports GMT, such as Gate.io, BitMart, or Bitfinex.
  2. Choose a Funding Method:

    • You can fund your account using various methods, including credit or debit cards, bank deposits, peer-to-peer trading, or third-party payment channels.
  3. Buy GMT Tokens:

  • On the exchange or in your personal account, navigate to the Buy & Sell section and select the GMT token.
  • Choose your preferred order type, such as Market Order, Stop Order, Limit Order, or TWAP Order, depending on your trading strategy.
  1. Transfer GMT to Your Wallet:
    • Once you've purchased GMT, you can hold it in your exchange account or transfer it to your personal cryptocurrency wallet for additional security and flexibility.

For more detailed instructions and information on payment methods, wallet setup, and exchanges, refer to the GoMining FAQs and guides.

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History of Gomining

Gomining, a Bitcoin mining platform, has a history marked by significant developments and milestones. The platform has been operational for several years, with a strong focus on user experience and community engagement.

Early Development and Growth

Gomining began by developing a dedicated protocol called Liquid Bitcoin Hashrate, which allowed for the management of Bitcoin hash rates on-chain on both Ethereum and BNB Smart Chain. This innovation enabled users to manage their mining power more efficiently and conveniently through NFTs backed by real hash rate shares.

User-Friendly Interface and Features

The platform is designed to be user-friendly, with a clean and intuitive interface that makes it easy for users to navigate and manage their mining operations. Users can create NFT miners with varying computing power and energy efficiency, and upgrade them as needed. The platform also offers a range of features, including daily rewards, staking, and voting mechanisms, which allow users to participate in the governance of the platform.

Partnerships and Collaborations

Gomining has collaborated with celebrities and tier-1 exchanges, building a reputation that users can trust. The platform has also developed a strong community, with numerous positive reviews from users on the App Store, Google Play, and Trustpilot.

Tokenomics and Governance

Gomining's native token, GOMINING, plays a crucial role in the platform's ecosystem. It is used to cover electricity fees, stake for voting, and purchase NFTs and upgrades. The token is traded on multiple decentralized and centralized exchanges, including PancakeSwap, Uniswap, and Bitfinex. The platform's veTokenomics model ensures that the token's value increases as the number of tokens in circulation decreases through burn and mint cycles.

Availability and Support

Gomining is available in 19 languages and supports multiple regions. The platform offers round-the-clock live support, a comprehensive knowledge base, and FAQ sections to help users navigate the mining process. Users can manage their mining operations from multiple devices, including desktop and mobile devices through the GoMining app.

Current Status

As of June 2024, Gomining continues to operate and evolve, with its token being traded on various exchanges. The platform remains committed to providing a user-friendly and convenient experience for Bitcoin mining, backed by a strong community and robust tokenomics.

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How Gomining works

GoMining is a Bitcoin mining platform that aims to democratize the mining process by eliminating the need for expensive infrastructure and specialized knowledge. Here's how it works:

Key Components
  1. NFTs (Non-Fungible Tokens): GoMining uses NFTs to represent shares of real-world mining power. These NFTs are backed by the company's nine high-efficiency data centers worldwide, ensuring that users can earn daily Bitcoin rewards without managing physical equipment.

  2. GMT Token: The GMT token is a multifaceted digital asset that serves as a utility token, governance tool, and payment method within the platform. It can be used to purchase NFTs, pay for services, and participate in staking and voting.

  3. Virtual Miners: Virtual miners are NFTs that mirror the capabilities of real mining equipment. They come in various collections, each with different power and efficiency metrics. Users can purchase these NFTs to earn daily Bitcoin rewards, and they can also be upgraded or traded on the secondary market.

  1. Liquid Bitcoin Hashrate (LBH): LBH is GoMining's vision for making Bitcoin mining accessible to everyone. It represents ownership of tangible real-world value through NFTs, setting it apart from cloud mining projects that often lack real infrastructure.
User Experience
  1. Acquiring NFTs: Users can purchase NFTs on the GoMining marketplace or external platforms like OpenSea. Each NFT has a specific power and efficiency, which determines the daily Bitcoin rewards.

  2. Earning Rewards: Users earn daily Bitcoin rewards based on the power and efficiency of their NFTs. These rewards can be deposited into a BTC wallet or recorded in the virtual balance.

  3. Upgrading and Trading: Users can upgrade their NFTs to increase their mining power and efficiency. They can also trade their NFTs on the secondary market, allowing for a dynamic and engaging experience.

  1. Governance and Staking: Users can participate in governance by staking their GMT tokens, which grants them voting rights and rewards. This mechanism promotes a vested interest in the platform's growth and sustainability.
Benefits
  1. Accessibility: GoMining eliminates the need for expensive equipment and specialized knowledge, making Bitcoin mining accessible to a broader audience.

  2. Cost-Effectiveness: GoMining NFTs offer lower electricity rates compared to traditional mining methods, potentially doubling profitability margins.

  3. Gamification: The platform incorporates gaming features, making the mining process more engaging and entertaining.

  1. Governance: The veToken Model empowers users to influence the ecosystem's direction and reward distribution, fostering a decentralized governance structure.

Overall, GoMining revolutionizes Bitcoin mining by seamlessly integrating cutting-edge technology, offering a unique blend of utility and engagement for users.

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Gomining's strengths

Gomining's strengths include:

  • Democratization of Bitcoin Mining: Gomining allows users to participate in Bitcoin mining by purchasing NFTs, which represent a share of real mining power. This approach makes mining more accessible to individuals who cannot afford the high costs of traditional mining rigs and electricity.
  • Physical Infrastructure: Gomining operates nine data centers worldwide, with a combined processing power of 2.5-3 exabytes. These facilities are strategically located in regions with favorable regulatory environments and excess power generation, ensuring a stable and consistent energy demand.
  • Tokenomics and Staking: The GOMINING token plays a central role in the ecosystem, facilitating various on-platform payments, staking, and voting mechanisms. Users can earn interest and participate in decision-making processes by staking GOMINING tokens.
  • Transparency and Real-Time Information: Gomining provides users with real-time information about rewards, hashing power, and NFT contributions. Users can track their rewards and NFT performance on both the GoMining website and the Binance platform.
  • Strong Partnerships and Reputation: Gomining has collaborated with notable entities such as Bitmain, the Bitcoin Mining Council, and celebrities, contributing to its reputation and trustworthiness. The platform has received positive user reviews and maintains an "Excellent" rating on Trustpilot.
  • User-Friendly Interface and Support: The platform offers a user-friendly interface, available in 19 languages, and provides round-the-clock live support, a knowledge base, and FAQ sections to aid users.
  • Diverse NFT Collections: Gomining offers a variety of NFT collections, each with unique characteristics and power levels, allowing users to choose the NFT that best suits their needs and preferences.

Gomining's risks

Gomining (GMT) carries several risks, including:

  1. Average Risk Rating: According to InvestorsObserver, Gomining receives an average risk rating based on its proprietary scoring system, which analyzes the amount of money required to move the price over the past 24 hours, recent changes in volume, and market cap to evaluate how much the token can be manipulated by limited trading.

  2. Physical Risks: Accidents and theft are always a risk when operating a mining rig. Solo miners need to consider both digital and physical security.

  3. Hardware Vulnerabilities: Solo home mining rigs can attract hackers looking to infect setups with malware to steal cryptocurrency. Technical knowledge gaps can also expose miners to attacks.

  1. Scam Allegations: Some users on Reddit have labeled Gomining as a scam, suggesting that it operates like a pyramid scheme where money from new users is used to pay earlier investors. They advise against investing in such schemes and instead recommend buying Bitcoin directly.

  2. Security Risks: While Gomining alleviates many security risks associated with traditional mining, users must still be cautious about protecting their account details and not sharing sensitive information. They should also verify the authenticity of social media profiles and only purchase GMT tokens through trusted sources.

  3. Market Volatility: The value of GMT tokens and Bitcoin rewards can fluctuate significantly, affecting the profitability of mining activities.

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Did Gomining raise funds?

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Gomining’s team

  • Mark Zalan: CEO of GoMining, bullish on Bitcoin and the mining business, emphasizing the importance of the GOMINING token and the company's infrastructure expansion.
  • Ben Robertson: Employee at GoMining.
  • Anthony Bianco: Employee at GoMining.
  • Vadim Soloveychik: Employee at GoMining.
  • Egor Shabanov: Employee at GoMining.

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