Almost two months ago, Binance released its Binance Pool mining group. Now, they have decided to expand and improve their current projects and have announced the launch of Binance Smart Pool, which could be positive for the miners.
Binance’s goal in launching Binance Smart Pool is to strengthen the miners‘ operations. According to their official statement, they want to make mining sustainable and profitable.
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What is Binance Smart Pool?
Binance Smart Pool is a service that allows all Binance Pool miners to increase their mining revenues by automatically extracting the most profitable cryptomoney. Smart Pool allows miners to automatically change their hash rate to extract different cryptomonies with the same algorithm.
Currently, Binance Smart Pool supports the SHA256 algorithm and allows miners to use its computing power to extract BTC, BCH and BSV. And despite the fact that it is extracting different cryptomontages, Binance pays the final settlement for extraction at BTC.
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What are the advantages of using it?
For those who like to get BTC, this is an ideal option. What happens is that at Binance Smart Pool no matter what crypt money you decide to withdraw, they always pay your BTC settlements to your BTC wallet.
You also have a guaranteed minimum income at BTC. What happens is that at Binance Smart Pool you have real-time coverage, and therefore they can assure you that your final income will never be lower than the general income of Crypto Cash models.
In case your final income reaches levels lower than the general income of the FPPS, Binance pays the difference.
On the other hand, with a Binance account you have access to a kind of „all-in-one“. That is, you have direct access to a wide range of Binance services with one account. Financial services, commerce and wallet.
The idea of the main exchange in the crypto world, is to ensure that the user can have everything at his disposal to enjoy the benefits of the crypto world.
Finally, all miners can verify and sell, store or exchange their mining funds through the Binance application.