Cryptocurrency mining has gone professional for a few years now. Large mining farms act as validators and coin diggers on the networks. However, also grows the market for small, user-friendly apps that promise you the ability to do mining on your device. Is it even possible or it’s just another scam? Let’s find out.
Truth be told, it all depends on who you’re dealing with. Some apps look more legit, while others can’t hide that they are pure scams. Read our guide on the newest mining apps to know who is who.
CudoMiner is available on Windows, Mac, and Linux laptops. Its most attractive selling pointa are as follows. First of all, the app automatically chooses the most profitable coins and mines them for you. You are able to get up and running within minutes even if you know nothing about coding and mining. CudoMiner supports CPU and GPU mining. Also, you can manually configure the settings even if you’re not just a beginner but own an entire farm.
Of course, such all-in-one app doesn’t come for free. They have fees that deduct from your mining profit. At the time of writing, fees on this app are 1.5%-6.5% with the lowest rates available to professional miners. The feedback for this app varies. Some say that it brings less profit than competitors, while professional users say that manual configuration of settings increases the returns.
Honey Miner is available on Windows and Mac. Linux version is said to be coming soon. It also allows one-click mining and easy start with automatic mining of the best coins. The app will mine on various networks, yet the mining rewards pay in bitcoin. The fee structure is a bit simpler than the previous one – the 2.5% rate applies to rigs with multiple GPU and 8% applies to single-GPU rigs. Honeyminer is only. The linux version is in the works.
NiceHash is a whole system of services dedicated to mining and beyond. Regarding mining, there are two versions available. The NiceHash QuickMiner only supports NVIDIA GPU while NiceHash Miner supports a few tbrands of those. Both of these services have higher payouts than the competition, according to users’ reviews. However, the app is only available on Windows, so Mac fans are feeling left out here. Also, NiceHash doesn’t hide that they use some 3d party plugins and mining software. The website shows a warning that such a platform configuration makes for a certain amount of risk involved. If your hardware isn’t set up for mining tasks, NiceHash also offers a market for buying and selling hash power, that’s why it can be used for cloud mining.
Mobile apps aren’t built like laptop apps. Despite the rapid progress, smartphones are nearly not as powerful as other types of computers to perform those complex mathematical equations required to mine cryptocurrencies. Honestly, most mining apps for mobile phones don’t perform any mining process whatsoever. Apps like these are mostly falling somewhere at the intersection of scams, referral programs, and cloud mining.
Let’s sort out some scam-looking apps so you are aware of them and proceed with caution. An app called Multimine used to be popping up frequently in search engines in queries about mobile mining. Yet, this app doesn’t look like a real miner at all. Users on the review platforms claim that their coins often disappear for no reason, their requests to cash out their crypto get stuck, and they don’t get any response from the support team.
The infamous Pi Network was mentioned by many crypto bloggers. The platform is basically a referral program that gives rewards in Pi Network’s native tokens for completing certain tasks.
The users get rewards for interacting with content, inviting their friends, and contacting other users. The red flag popped up when users realized that Pi tokens are not present on crypto exchanges like CEX.IO and are not supported by crypto wallets at all. Also, the network doesn’t have an open-source code suggesting that there could be no blockchain at all. If it’s true, then their tokens are just another scam coins. Be careful when researching mining apps and try to stay away from obviously illegitimate companies.
Electroneum, conversely, earned some likes from the users and looks like a legit platform. By the way, Electroneum has their own token called ETN that has been used specifically for mobile devices and strives to come out as a highly accessible and efficient payment network. This token has been around for years and it is trading on major exchanges which proves the legitimacy of the network and shop with bitcoin on ebay.
Right now, their app is essentially a reward system but it did do mining before. Users are able to earn rewards in ETN tokens for various engagement levels. Unlike other apps that mostly give rewards for bringing friends, the Electroneum app offers some tangible jobs.
StormGain is an app that encompasses crypto trading, reward program, and mining. Their mining part is built like a simple one-click miner that works in 4-hour iterations and mines USDT. Another advantage is that they don’t charge fees for mining at all. Yet, if a user is trading a certain amount of a trading volume, the mining rewards become bigger. The app automatically calculates the probable return for a day, a week, and a month, which encourages the regular use of this functionality. To boot, StormGain doesn’t use the phone’s processing power because the mining performs on a cloud.
Among potential downsides are the following facts. The app asks for the user’s personal data, including fingerprints. Also, customers can use the mined USDT only for trading inside the StormGain app and only withdraw gains made on trading. Finally, the potential return numbers are not accurate since eventually the app mines fewer coins than it predicted.
Sometimes you never know whether the app really mines real crypto unless you try it. However, you should check every app carefully before committing your time, data, and money to it.