We are happy to present you the first exchange that allows the trading of bitcoin mining facilities or GHS (GigaHash per second) Trading.
Let’s see how it works and why you definitely must purchase a GHS on our exchange.
Let’s imagine, that you have purchased a finished Bitcoin miner and now the delivered box is in your room. You take the rig out of the package and try to connect it to the power source, but there is no power cord in the box, or maybe no power unit or maybe your home network is unable to provide the capacity needed.
Of course eventually you will be able to solve all these issues and get your facility working, but that is valuable time wasted!
From the very beginning you will be facing power supply issues, network connection failures, maintenance problems and you will need time to solve them. You will most definitely face annoying downtimes, despite the fact that you were unaware of that risk when you purchased the miner.
CEX.IO and its partners have found an effective solution for people who want to join the Bitcoin mining community with their own mining - GHS, and be protected against those issues. We can guarantee a stable and profitable 24/7 uptime and output that you purchased on our exchange. But how do we do it? It’s easy - our partners authorized us to sell their facilities for their market price at our exchange. You might ask why don’t we and our partners start mining bitcoins ourselves? The answer is simple and is partly explained in the definition of the Commodity Exchange term: “Commodity Exchange - permanent wholesale market of perfect competition, which according to certain rules, transactions of purchase and sale of a qualitatively homogeneous and easily interchangeable products” and hedge has been one of the most important functions of the exchange for the last 100 years.
And now let’s see the way that we trade GHS. As we mentioned before GHS is a 1,000,000 of the measuring units of the processing power of Bitcoin network. The more GHS you have, the higher your chances to get rewards from the Bitcoin network. Mining Pools, collective mining have been used in the Bitcoin network for a very long time now. A collective chance of getting a reward gets bigger proportionally to the overall pool capacity - the sum of all the pool participant’s facilities, and the reward is shared among all the participants based on the pool’s rules. We work with a private pool GHash.io. GHash.io supplies our exchange with GHS from our authorized partners, who secure a constant supply of GHS. When you purchase a certain amount of GHS at our exchange, your account gets the reward according to the PPLNS reward distribution scheme of GHash.io. In addition to this supporting the constant output of your GHS in the pool will also require certain maintenance cost for each facility (like electricity, space and upkeep). These costs will be charged from your account . All the pricing will be available in your personal profile. If your balance has insufficient funds to pay for the maintenance cost for your GHS, we will be forced to sell a number of your GHS to cover the expenses.
So, let’s sum it up: trading GHS is as easy as trading currency pairs and in addition to this, while you have your GHS on your balance or even in the “for sale” status, they will still be producing bitcoins.
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