Fantom Miner Review
After looking at BNBMiner, I started getting invites to other mining chains. All seem to be copies of one another. For example, while the image above is from Fantom Miner, this is Matic Miner:
Same website front-end, just a different chain. Swap the token name, and away you go.
If it is the same dev, then they are spreading their bets on the popularity of different chains. As explained to me, these “mines” require new funds to keep paying out the 3%. If funds start to get depleted, the 3% slowly decreases until it hardly pays out at all.
The key is to mine for a few months, then try to get your initial stake out. If you kept reinvesting in miners, then the longer the mine lasts the higher the payout. But, the longer the Mine lasts, the higher chance that you will run out of interested people, and the 3% drops to 2% then 1% — and lower.
In case you still want to explore this Fantom Mining crypto project, this is how:
Step 1: Get some Fantom.
Since I have some BNB being mined through BNBMiner, I thought I might as well use it for Fantom Mining. First, I’ll need to bridge the BNB from BSC chain to the Fantom Opera Chain. I use Spookyswap’s Bridge to transfer BNB from chain to chain:
To bridge, you would set your wallet to Binance Chain, bridge the funds to Fantom, then switch Metamask to the Fantom Opera Chain:
Swap the BNB to FTM. Make sure you have enough FTM to pay gas fees:
Now that you have FTM, you can start to mine!
Step 2: Hire Miners!
On the left side of the page is a field where you enter the amount of FTM you want to use to hire miners:
The more FTM you put in, the more miners you will have to dig.
Step 3: Compound or Withdraw
Return every day to either buy more miners/compound, or withdraw your ~3% to your wallet.
That’s basically it!
Weigh the risk/reward. If there’s not enough interest on the chain you select, and member number goes down, the amount in the contract will also diminish. If that happens, the contract will lower the percentage, as many times as necessary.
Short answer: You could lose everything.
If the Mine is popular, with more people coming in providing funds to the contract, well there’s where you see the magic of compounding at 3%:
- Go to the Fantom Miner site. Feel free to use my referral URL:
1. Connect your Fantom chain enabled Metamask to the site.
Enter the amount of FTM you want to use to hire miners:
4. Click the black “Hire_____ Miners” button below the BNB field.
5. Return once a day to either Hire more Miners (Recompound), or “Pocket Your Fantom” — withdraw:
Nothing in this article is intended to constitute investment advice. Neither the author nor the publication takes any responsibility or liability for any investments, profits or losses you may incur as a result of this information. Readers are encouraged to perform their own due diligence and research, or consult a licensed financial advisor or broker before making any and all investment decisions. This content is intended for general informational and educational purposes only. Though the author strives for accuracy, the data contained within the article cannot be relied upon. The author may own cryptocurrencies and tokens discussed in the article. The article may contain affiliate links.