Bitcoin Hashing Power Trading Platform Kryptologika Launches GH/s Backed With Physical Silver
“Increased competition in cloud mining should be welcomed by bitcoin enthusiasts, silver bugs and miners,”
according to the creators of kryptologika.com—a Polish-Irish-Swedish Bitcoin trading platform that was launched early August 2014.Differentiating from competitors Kryptologika offers a unique system of backing shares against thegradual drop in profitability of mining, utilizing physical silver. It is a well-known fact that during Bitcoin price stagnation, rising difficulty makes mining less and less productive over time and eventually, the costs of electricity can make the entire process unprofitable. The benefit of silver is ability to ensure that the price of GH/s offered by the platform would never fall to zero, as it is backed by the price of an equivalent amount of physical silver per share. Thus, buying shares is not only an investment in hashing power, but also in silver. This solution, combined with much lower maintenance costs for hosting in China, would result in a very competitive offer. Moreover, the shares can be traded among the users on the platform and in the near future, they will be available not only for Bitcoin, but also in fixed prices for fiat currencies.
“We want to optimize the mining process to make it as cost-effective as possible for the benefit of our customers. At the same time, since we are devoted miners and silver bugs, we created a product that combines the two: low-cost hashing power and an investment in physical silver.”
said Project Manager of kryptologika Antoni Lesinski.
“At this stage we are still in the beta phase but we will be offering cheap hashing power for Dollars, Euros, British pounds and Polish zloty in a few weeks, bringing the whole undertaking to new levels.”
At the start, the maintenance fees have been as low at $0.11 per GH/s (denominated in Polish zloty) per month. The good news is that this is also changing for the benefit of the users, starting in September. A 2% reduction of fees was offered to Kryptologika users due to an increasing client base and availability of better pricing in China.
“We will be reviewing our maintenance fees at least every quarter. This small reduction in fees demonstrates our commitment to deliver to our customers the best solutions possible, and build long term relationships, which are both very challenging, especially when Bitcoin prices are at lower levels.”
Trading shares on the platform is free of charge and hashing power goes live almost immediately
after the purchase making it even more attractive for traders. Kryptologika recently teamed up with UK based onestopminingshop.com— a mining hardware retailer with a view to build a system of distribution of hashing power, for fiat currencies.