Cryptocurrencies are mediums of exchange, created and stored electronically on the blockchain.
What is mining?
Cryptocurrencies use a distributed network to allow for a p2p (peer-to-peer) transaction system without the need for a centralised server. In order to keep this secure, cryptocurrencies utilize mathematical algorithms and a public ledger.
In order to ensure every transaction is legitimate, complex mathematical equations are used to link each account with the amount of virtual currency the account holder would like to spend. Users, commonly referred to as miners, dedicate their computing resources to solving these equations and are generally rewarded with a small amount of cryptocurrency. This process is referred to as mining.
We will configure your rigs to mine cryptocurrencies with algorithm that is most efficient for the GPU type in your rig.
Can I mine other coins?
It depends on which algorithm the coin is using. Technically you can use the AMD Vega to mine any coins. However AMD GPU architecture makes it excel in mining Ethhash(Ethereum) and Cryptonight(XMR) algorithms.
You can sell the cryptocurrencies mined by your rigs for cash on online exchanges.
As prices of cryptocurrencies fluctuates from minute to minute, there is potential for the cryptocurrencies you mine to go up in price and you get higher returns.
Please refer to the illustration that will give you an idea of the profitability of mining.
We will recommend some websites and applications for you to monitor the prices.
You have full control over the cryptocurrencies you mine and can choose when you wish to sell them and the selling price.
How do I sell the cryptocurrencies mined?
We will guide you in setting up a wallet to keep the cryptocurrencies mined and to set up a trading account with a local exchange.
You can then send the cryptocurrencies to the exchange to be sold for SGD or USD. You can transfer the sales proceeds from the cryptocurrencies to your bank account.
There are many exchanges globally. One popular exchange to use in Singapore is Coinhako.
Yes you certainly can !
We configure all our rigs to be plug & play so all you need is internet connection by ethernet and electricity to run the rigs.
It is normal for the rigs to produce some noise and heat when mining.
We also provide fully hosted solutions if you wish to place your rigs with us.
Do I need a monitor and keyboard for the rig?
The short answer is no.
All our rigs are configured to be plug & play. Just connect the rig by ethernet and plug in the power supply and the mining program will start.
In addition, we will provide you with teamviewer access to your rig for monitoring purposes.
All the components come with local (Singapore) distributor warranty ranging from 3 to 5 years depending on component.
Yes. Future expansion is possible. Due to space constraint of ATX casing for enclosed rig models, we can upgrade your rigs to open rig model to house more GPU for greater computing/mining power.
Can I use Nvidia cards for my rig?
Yes. Just drop us a note and we can provide the pricing for Nvidia rig models.
We will also recommend which cryptocurrencies are more suited for Nvidia cards for eg. Equihash (Zcash and BitCoin Gold)
DISCLIAMER. Every individual is responsible to do their own due diligence before any decision is made. We reserve the right to change any information at any time without further notice. Whilst we make every effort to provide you the most accurate information, we are not responsible for any typographical, photographic, or technical errors or information received from our counter partie. We shall have the right to refuse or cancel any enquiries.
The above provided information does not constitute personalized tax, investment, legal or other business and professional advice. Before taking any action, you should always seek the assistance of a professional who knows your particular situation on your taxes, your investments, the applicable law or any other business and professional matters that affect you and/or your business.