Did you know that there are ways to earn income from cryptocurrency that don’t involve holding or trading?
Well, there are plenty of ways to earn income from your cryptocurrency. This article will cover one of our favorite methods:
Virtual mining on YoBit.net.
That’s right, virtual mining. Think of it as regular cryptocurrency mining, but without the headache and cost of having to maintain a mining rig.
It’s a very convenient way to earn money with your cryptocurrency. And YoBit.net is one of the best places for virtual mining for a variety of reasons.
YoBit.net Virtual Mining – Review
The first thing you’ll notice on the YoBit virtual mining page is how simple it is to use. A table lists the different virtual miners available for purchase, the expected daily payout (in multiple currencies), and the price to purchase the miner in Bitcoin.
Six different types of miner are available for purchase. The ROI is the same on the different miners with the only difference being the scale.
As you may have noticed, a Micro virtual miner will pay for itself after about 2 months. The cost to purchase one is .01BTC (~$300 USD) and the monthly earnings are typically around .0065BTC.
Everything after the break-even point is pure profit, which means you can earn a very nice ROI with a YoBit virtual miner.
One of our favorite features of YoBit’s virtual mining program is that it pays out MINEX tokens on a daily basis. You can see the different amounts of MINEX tokens paid out per day in the above image. It ranges from 9 MINEX tokens to 7500 MINEX tokens depending on the virtual miner you purchase.
Now, that feature alone makes virtual mining on YoBit a great deal. Other virtual mining programs have weekly or even monthly payouts, which is not ideal.
YoBit is also a trustworthy exchange – it has existed since 2014 without any major problems. The exchange has a trading volume of about $60 million as well, which makes it one of the larger cryptocurrency exchanges.
One last feature we like is that there is no management required. What does this mean?
You don’t have to determine what cryptocurrency to mine or allocate system resources to different cryptocurrencies.
YoBit manages the cryptocurrencies the miner will mine.
The only expense with a virtual miner is the initial investment. This makes it a great source of passive income.
How much can I earn with virtual mining on YoBit?
Well, the exact amount depends on a few factors that include the efficiency of the virtual miner and the exchange rate of MINEX. However, monthly profits for the 0.01BTC virtual miner are typically in the $70-80 range.
How to start virtual mining on YoBit?
Getting started with virtual mining on YoBit is easy. This section will cover the exact steps to get started.
- Create an Account on YoBit
First, visit the YoBit homepage. You will see a registration tab in the right hand corner. Clicking that will open a form on the page.
- Verify Your Email
YoBit will send an email to the email address you entered for verification purposes. All you have to do is click the link in your email.
- Deposit Fiat or Bitcoin on YoBit
YoBit accepts US dollars via Payeer, OkPay, Capitalist, and PerfectMoney. They also accept a variety of cryptocurrencies that include Bitcoin and Ethereum.
- Purchase a Virtual Miner
Visit the virtual mining page on YoBit to purchase a virtual mine. As mentioned previously, you have six different options to choose from that range in price from 0.01BTC to 4.99BTC.
- Begin Collecting MINEX
Finally, you will receive an amount of MINEX tokens that correlate to the virtual miner. Deposits are done every 24 hours.
5 Advantages of YoBit for Virtual Mining
Here are five advantages of using YoBit for your virtual mining.
The biggest advantage of YoBit, in our opinion, is that it pays out daily. This isn’t that common for virtual miners.
More importantly, it allows you to start seeing a return on your investment immediately.
This feature alone makes YoBit the best platform for virtual mining.
Easy to Use
We really like that YoBit is easy to use. There is no need to select what cryptocurrencies to mine, manage contracts, or anything else.
The YoBit algorithm takes care of all that. You simply sit back and collect MINEX tokens every single day.
YoBit has existed since 2014, which is a good indicator that they are a legitimate company. On top of that, they’re a full cryptocurrency exchange with over $60 million in coin market cap.
This isn’t some fly by night operation going on here. It’s a legitimate company with a legitimate product that can make you a good return on investment.
Fast Return on Investment (ROI)
Finally, YoBit virtual mining has a fast return on investment. You can expect to break even after 1-2 months.
And once you break even, there aren’t any other expenses that occur. It’s straight profit from there on out.
Low Cost to Entry
The cost to purchase a virtual miner is not that much. You can get started for about $300.
Again, most virtual miners have an initial investment much greater than that.
We really like the different tiered pricing because it allows investors with different budgets and risk tolerances to earn money with virtual mining.
YoBit User Reviews
We aren’t the only cryptocurrency fanatics that find YoBit virtual mining a great deal. Here are some other reviewers that have had success with virtual mining on YoBit:
That covers it for our review of virtual mining on YoBit. In our opinion, we believe that YoBit offers the best deal for virtual mining of cryptocurrency on the market at the moment. The daily returns combined with the low initial cost make it a great option for beginners.
Additionally, it’s easy to use and very passive.