XBIT | What is a miningpackage?

XBIT Switzerland
Apr 19, 2018 · 4 min read
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XBIT GmbH | The cryptospecialist with strong swiss roots

Cryptocurrencies are becoming more and more popular, with all media
outlets covering the topic on an almost daily basis.
With the rise and adoption of cryptos, more and more people are also
interested in the process of mining cryptocurrencies.

But what makes crypto mining profitable and what are the difficulties?

Some people think that crypto mining is easy and plug & play, and try it at home. Usually quite quickly, they realize how many hurdles must be taken and get confronted with the huge amount of initial and ongoing work it needs.

Crypto mining is a dynamic process. You always need to do research about the latest hardware, and in parallel do your own extrapolation and forecast about the mining difficulty in order to calculate which hardware will be profitable in the future.

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In addition, you need to know what’s the most profitable coin to mine, and which cryptocurrencies might have potential for the future. When you finally purchased the hardware, you need a room equipped with high current fuses, and access to cheap electricity. What most people underestimate and struggle with, is a good cooling system.

This is often underestimated and requires a good know-how. Some basic knowledge in physics about airflow is often not enough to master the challenges of how to get rid of the hot air in a sufficient way. This then calls for specialized technicians, who know how to install the hardware and are available on short notice for maintenance.

As you can see, it needs a lot of manpower and know-how to make do-it-yourself crypto mining a profitable endeavor.

This is exactly where mining hosting is stepping in, filling all the possible gaps which might be in the way of a mining enthusiast.

X-Bit wants to make it an easy and smooth experience for you to own your own hardware, but without headaches.

The miningpackages which are available, based on current hardware market prices includes the hardware plus free maintenance and power for a period of usually 6 months hosting. It includes as well other items as security, rent, cooling, installation and support for switching the hardware to mine another coin. Furthermore you’ll get given advice on market developments, difficulty adjustments, upcoming forks etc. Based on this info, you can then decide to switch you hash power of parts or all your hardware to to another coin at any time.

After the end of the free hosting period, X-Bit either ships you your mining hardware to your place (you might want to sell it), or you can extend the hosting contract with one of the available hosting packages (Prices depending on the tenor of hosting, and the power consumption of your hardware).

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In order to provide the latest news and in-depth analysis of all sorts of crypt topics, we offer access to a telegram chat (“x-discussion”). Free access is included in every hosting or hardware package. Our blockchain experts (working full-time in crypto in different functions) share daily information about the hottest topics, ranging from crypto market winners and losers, ico’s, hardware developments, chart analysis and much more. The information is eutral and not biased, hence not investment advice.

The goal is to enable you to base your decisions on facts and reliable background information. This makes it possible to build up a profitable cryptocurrency portfolio and keep your mining operations up and running.

Our vision is to make it possible for everyone to be a part of the system.

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