Many people are wondering whether cryptocurrency mining is still profitable. It could be a risky endeavor if you are an individual miner who needs to devote a lot of money first to buy and set up specialized equipment and then cover the maintenance and electricity costs, while continually monitoring the price of a given cryptocurrency. However, the situation is quite different if the miners gather in the so-called pools or organize a sizable facility the contains powerful rigs and is maintained by a competent team.
That is precisely what Padoscoin is about: allowing the participant to derive a profit from the project’s ability to optimize the process of mining. The Indonesian startup wants to raise at least $1,5 million thought the ICO in order to be able to maintain and upgrade the mining equipment and stabilize the price of the ERC-20 compliant utility token with a ticker PADOS.
Padoscoin is a glaring example of an organization that aims to form a global community of participants who would benefit from investing in their mining assets. A nascent crypto project like that must have some defining characteristics that would set it apart from the competition and boost its investment appeal.
When it comes to Padoscoin, the team places specific emphasis on the fact that the enormous amounts of electricity, necessary for large-scale mining, is going to be obtained through renewable sources of energy that does absolutely no harm to the environment, compared to the conventional mining methods that use electricity drawn from fossil fuels.
Apart from being totally eco-friendly, the power used at Padoscoin’s facilities will be purchased at a very lucrative price since the government subsidizes the Indonesian industrial sector. This constitutes another project’s strong point as the Indonesian authorities keep an open mind towards blockchain/crypto initiatives
In addition to being able to acquire cheap electricity, Padoscoin has struck a partnership deal with Bitmain Technologies, one of the biggest producers of top-of-the-line mining hardware. According to this deal, Padoscoin will be afforded an opportunity to the trademark equipment at a discounted price and with a long-term service guarantee.
Initially, Padoscoin will devote all resources to mining Bitcoin, Bitcoin Cash, and Bitcoin SV, though this list should be broadened with time. Company’s profits from mining will be used in the following way: 75% of weekly income will be used to maintain the stable value of PAD token; 22% will be reinvested into the equipment; 3% is going to be allocated for research.
Padoscoin has put up 156 million tokens for sale out of the total supply of 260 million PADOS. Right now, the coins can be purchased at the pre-sale event that will last till January 31, 2020. The actual ICO will commence on March 1, 2020, with the closing date set on June 4. The tokens can be purchased with Kickcoin and ETH at a progressive discount - the price of 1 PADOS is $0.045. The minimum investment barrier is 1 ETH. Citizens of China, South Korea, and Singapore can’t participate in the token sale.
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|Start||March 1, 2020|
|End||June 4, 2020|
|Soft cap||$1 500 000|
|Hard cap||$7 020 000|
|Minimum investment||1 ETH|
|Tokens for sale||156000000|
I have never devoted too much attention to mining before, because it seemed too complicated and less profitable, as I am mainly involved in crypto trading. But lately, I began putting more and more effort into studying this activity, in search of ways to diversify my investment capabilities. So now, I pay close attention to mining startups that have a comprehensive business plan and sufficient marketing attractiveness. I reckon that Padoscoin fits that profile perfectly - they are my primary investment option.
Niki474 October 13, 2020 Reply
From a technological point of view, Padoscoin doesn’t bring anything new to the table, but instead, it offers a handsome business deal since they intend to mine on cheap electricity and the quality equipment bought at a reasonable price. I am not into mining myself, but I have a few friends who might be interested in Padoscoin. The only downside is that they are going to mine only three cryptocurrencies.
Adam December 18, 2019 Reply