CryptoMining.Tools Is Building the Bitcoin Mining Community
This is a sponsored article provided by CryptoMining.Tools.
At CryptoMining.Tools, aspiring and established bitcoin miners can easily and securely find all of the help they need to not only start their own operations, but to improve efficiency and grow as well.
The firm serves several primary functions to help achieve this level of support for its users: On a fundamental level, it provides a marketplace to connect buyers and sellers of all sorts of ASIC mining equipment, allowing users to find a whole catalog of relevant materials. Additionally, it has a variety of resources designed to connect these new miners to colocation companies, essentially allowing these miners to take advantage of some of the world’s cheapest electricity for their operations.
As an added feature, it also includes a sophisticated profitability calculator to help users determine exactly where and when their mining endeavors will make a return on their investments.
“It has been less than a year since the birth of the CryptoMining.Tools online bitcoin profitability calculator and interactive ASIC hardware comparison chart,” Scott Offord, the project’s creator, said. “I've had a desire to provide realistic profit projections to my clients who buy ASIC miners for a couple of years now. With my background in internet marketing and web development, it was a no brainer for me to use my skills to help fellow mining professionals and enthusiasts make better forecasts and business decisions.”
Offord’s road in building CryptoMining.Tools has been a challenging and exciting one, especially since he’s been building the company from the ground up.
“It started out with just me doing miner brokering, project management and marketing,” he explained. “I had to wear many hats, but then an opportunity to work with Ethan Zurka presented itself and he's been vital in moving the project forward. Now, Ethan leads a team of developers who are continuing to build out new features in our online ASIC hardware marketplace that acts as a matchmaking service for buyers and sellers of mining equipment, allowing them to conduct business in a secure environment with other active and trusted members of the CryptoMining.Tools community.”
For Offord, however, bootstrapping a functioning part of the crypto community with very limited support is more than just a matter of personal pride. He explained how the flux of ICO launches in 2017 proved not just an irritation to him but also a detriment to a healthy bitcoin economy.
“It wasn't long ago that it seemed as though almost every project out there was trying to do an ICO,” stated Offord. “Companies would publish a white paper and launch a new coin in an effort to raise funds for further development of their project. I'm actually very happy to see that governments around the world are starting to crack down on this to ensure innocent investors aren't getting scammed out of their money.”
He added that the CryptoMining.Tools team “chose not to go the route of doing an ICO because we knew we could get to a point where we could build critical mass by ourselves.”
A small portion of the company was sold to two new partners who are now equity shareholders, allowing CryptoMining.Tools to continue development of the marketplace, strategically align with others in the blockchain mining industry and add more tools without taking on debt.
Offord also spoke about some of the core values behind CryptoMining.Tools that guide the project today. Primarily, this means ensuring credibility for the information it provides and the products it brokers.
“On our site, sellers are verified with their passport or driver's license and brokers have passed strict background checks to ensure they are legitimate and reputable sellers who we know will do what it takes if a deal goes sideways and will compensate the buyer if they don't end up getting what they expected out of a sale,” Offord said.
It’s clear that CryptoMining.Tools is only planning to expand in the future. In addition to purchasing TheMinerBay.com, a miner hosting directory which will be added to the company’s array of tools available to customers, the company is also producing a podcast.
“For us,” Offord said, “we really just aim to continue refining our existing tools and making them more useful to the mining community.”
Being a meaningful participant in the community has always been important to Offord and that’s why his company has “been focusing hard to foster community in the mining industry in our various Telegram groups, such as the CryptoMining.Tools Telegram group. We have been working with other Telegram group owners and moderators to build a database as well as some bots to help us sort the scammers from valid users in our online communities.”
In the future, Offord hopes that CryptoMining.Tools will become a major staple of the mining economy, helping newcomers feel truly comfortable in this often chaotic, profitable space.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.