Frequently Asked Questions

FAQ

What exactly is crypto mining?

Imagine that traditional currencies, such as euros or dollars, consist of physical coins and banknotes controlled by banks and government agencies. However, cryptocurrency is completely digital and is managed in a decentralized manner, meaning there is no central authority such as a bank or government that controls it. Instead, cryptocurrencies like Bitcoin, Ethereum and others are created, stored and transferred via a technology called blockchain. A blockchain is a distributed ledger that tracks transactions and maintains their integrity through cryptographic techniques. This means that transactions are secure, transparent and immutable

How does cryptocurrency mining work?

Every cryptocurrency, let's say Bitcoin, requires a special kind of computing to create new coins and process transactions. This work is done by computers all over the world. When people talk about "mining," they mean running their computers to find new bitcoins. It's like solving a complicated math problem. Every time your computer fixes the problem, you earn some bitcoins as a reward.

Is cryptocurrency mining profitable?

Certainly! In fact, we are currently in one of the best phases in which you can generate nice profits with mining. This of course depends on a number of factors, the primary factor being electricity costs. Fortunately, at Cryptojuwelier we have the right electricity price so that you as a customer can generate profit.

Which coins can I mine?

At Crypto Juwelier we only support bitcoin and/or bitcoin cash. We make a short/long-term investment with you based on the bitcoin, or the bitcoin cash coin.

What is a mining pool?

A mining pool is like a group of friends who work together to find cryptocurrency using their computers. They share the rewards they find based on how much work their computers have done, giving even people with less powerful computers a chance to earn some cryptocurrency. This means that you give up a small percentage of the coins you find (2 to 4%).