Mobile Cryptocurrency Mining With Phoneum Crypto Beginner’s Guide
Cryptocurrency is a vast world of digital exploration that is constantly growing with new ideas, currencies, and projects being developed every second. Being able to trade digital currency for services and goods has open the door to a technologically advanced form of the old system.
Outside of buying and selling cryptocurrencies, there is still the original methods of earning digital currencies such as mining. Outside of the many ups and downs that are often associated with any exchange people are still hesitant to dive into cryptocurrency for a variety of reasons.
Some people don’t have the time, some cryptocurrency users don’t have the required high-grade specs to handle the mining for cryptocurrency, and other potential investors are fairly new to the altcoin concept as a whole. Mining for cryptocurrency can be a very taxing operation with all the hardware requirements, time, and even energy required to sustain such mass mining attempts.
Not all mining attempts are profitable and many miners barely make enough to cover the energy bills that accumulate from such ventures. This has left many users and even major cryptocurrencies to find other alternatives for earning cryptocurrency outside of mining. Some users with computer hardware experience can make their own high-powered supercomputers that handle mining.
But not everyone has the know how to run their own mining farm or build a computer capable of solving problems within seconds. As cryptocurrency technology progresses so too do the methods used to attain these coveted digital currencies. On top of the usual proof of stake and major mining options, there is a portable mining option cryptocurrency miners can use.
So how can people bypass the expensive electricity bill, overpriced computer parts, and still manage to reap at least some benefits from a proof of work cryptocurrency? Well, first all you need is a smartphone!
Phoneum: Mining Crypto All in the Palm of Your Hands Without the Need for Super Computers
Most users are familiar by now with the idea of mining and how the concept works for earning digital coins. While most experienced miners are using a souped-up computer to handle all of their mining and other cryptocurrency hoarding needs, not everyone has the same technological capacity.
For the ordinary miner or beginner who wants to earn crypto without all of the associated expenses, it can be rather hard to break even or even understand the intricacies of many ways to mine for altcoins. Over time a solution was developed and that solution came in the form of an app. The developers behind Phoneum intended for it to be easier than ever to mine for an altcoin.
Phoneum is unique in the sense that it is the pioneer for smartphone mining. This means mining no longer has to be synonymous with high-tech computer mining and mass mining centers anymore. Now even the average cryptocurrency investor can even get a few coins here and there thanks to the mobile app.
But what makes Phoneum tick exactly? How does it really manage to help novice miners achieve the same advantages as their more experienced counterparts? Is it really as simple as downloading an app and letting your phone do all of the heavy lifting for altcoins?
How Does Phoneum Work?
Phoneum on the surface is a simple to use app that can be downloaded for free onto your smartphone. It uses custom blockchain technology in a similar fashion to any other altcoin. All a potential miner has to do is download the app from either the Google Play app store or the Apple store. The app is built to be user-friendly where you will only need to make an account and then just mine for Phoneum coins.
Phoneum also offers a simple peer to peer network that allows you to send and receive Phoneum coins between users. This, in essence, gives all users a sense of transparency and equality when it comes to the proof of work method. This simple mining app uses another proof method called proof of time.
- Phoneum coins
Phoneum coins are the main altcoins you mine using the app. These coins do have a conversion rate of 1 PHM = $0.01 USD.
What are the Benefits of Using Phoneum?
Being one of the easiest to use mobile mining app on your smartphone would seem like the only major and most beneficial perk of using Phoneum. But there is definitely more to this little mining app than meets the eye.
There are a few other perks you can enjoy such as:
- Users can utilize the integrated QR reader/scanner on the phone app
- Doesn’t require the same level of electricity or processing power as computer mining
- The app can be used anywhere thanks to its mobile base and no reliance on any computers
- The accounts are easy to set up and mining is already configured
- Is great for those looking to enter the cryptocurrency world without all of the risks associated with it
- The app is a decentralized algorithm
- The developers intend to keep with their original idea of equality as they develop and create new standards for the app
What are the Drawbacks of Using Phoneum?
Phoneum is an app of convenience when it comes to mining for all. But not everything is perfect and every system has its internal flaws. Phoneum has a few drawbacks and may or may not have more as the app progresses with its development path.
- There isn’t any computer alternative for storing cryptocurrency which may leave some users feeling reluctant to mine in the first place
- There is no way to mine using a computer since the app is specifically designed for mobile only mining
- The amount earned through the mobile mining app isn’t much compared to computer mining
- There are limited options for converting the Phoneum coins into other cryptocurrencies and the conversion rate into either dollars or euros is small
Final Thoughts on Phoneum
All in all, the Phoneum app, cryptocurrency, mining method, and developer team all seem to be very reliable and honest. This would be a great app for anyone wanting to try their hand at mining cryptocurrency or want a relatively risk-free option compared to computer mining.