Cryptocurrency mining firm Argo Blockchain PLC is the first crypto mining company to be listed on a major exchange. Argo has reportedly raised $32 million after the listing of their IPO on the London Stock Exchange on August 3, 2018.

Cryptocurrency mining is a process in which transactions for various forms of cryptocurrency are verified and added to the blockchain digital ledger. All cryptocurrencies that use proof-of-work (PoW) system, including Ethereum, Bitcoin, XRP, ZCash and Monero, can be mined. When a cryptocurrency is mined the miner will receive pay in the mined cryptocurrency and pay will be equivalent to the amount of mining/work done.

How does Argo Blockchain mining platform work?

Argo is an online platform that enable users to mine cryptocurrencies like Ethereum from their regular computer and mobile device.

“Our service provides immediate access to Argo’s cutting-edge mining rigs, which seamlessly perform the complex crypto-mining operations for our users and then directly deposit all coins mined into users’ digital wallets.”

Here are the steps to follow to get started with Argo:

  1. Sign up to Argo – Search for the Argo website using Google or your favourite search engine and sign up by submitting some basic personal information.
  2. Select your coin – Using the dropdown menu, select the coin and corresponding algorithm you want to mine.
  3. Choose your package – Select your choice out of three packages, each offering a different hash rate. All packages are billed monthly on your month to month contract.
  4. Enter your wallet detail – Add your cryptocurrency wallet details so they can send your mined coins directly there.
  5. Choose a mining pool – They offer a variety of mining pools for you to choose from, no pool account needed.
  6. Pay for your chosen package – Enter your payment details and start earning.
  7. You are now mining – Visit your dashboard to view your earnings for each coin, stay up to date with your activity feed and make any changes to your account.

Who can mine cryptocurrency?

The cryptocurrency that is most popular for mining is undoubtably Bitcoin, as it the first and most popular cryptocurrency to use the proof-of-work concept. Many miners have grouped together to form mining pools in order to increase their success rate at Bitcoin mining. Some of the mining pools mining Bitcoin today are BTC.com, Antpool, ViaBTC, Slush, F2pool, BTC.top, Bitclub.Network, BTCC, Bitfury and BW Pool. China has by far dominated in the mining of Bitcoin with 81% of all mining pools located in the country. Mining concentration of Bitcoin in china has always been one of Bitcoin’s biggest problem as this makes the cryptocurrency more centralized than decentralized.

Mining usually requires a lot of expensive computer hardware and uses an extraordinary amount of power to run which makes it an activity dominated by those who can afford to do it. However, mining platforms like Argo Blockchain PLC are making it much easier for the average person to participate in the mining of various cryptocurrencies by making each computer device a part of a bigger mining pool via the internet. CCN has reported that

“Argo exists to remove all operational stress and difficulty away from ordinary people who wish to get into the crypto mining market, enabling them to participate financially in what some have described as the fifth industrial revolution.”

Argon Blockchain PLC is based in Quebec, Canada and currently has four cryptocurrencies listed on their online platform: Bitcoin Gold, Ethereum (ETH), Ethereum Classic (ETC) and ZCash. It is also being rumoured that other cryptocurrency mining companies such as Bitmain are considering going public also,  so for more on that just keep locked to Cryptoprridge.com.

Are you currently a miner or considering to start mining crypto? let us know in the comment section below.

Source of picture is Pexel. 

Thanks for reading! you can find more posts from me at Cryptoporridge.com.

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