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Analysis suggests that holders of XRP, XRPL’s native currency, are considering Bitcoin Minetrix (BTCMTX) in the ongoing presale. So far, the Bitcoin Minetrix presale has raised over $8.7 million. Moreover, more than 558 million BTCMTX staked via the platform’s stake-to-mine protocol.
Bitcoin Minetrix allows users to mine BTC via staking
Bitcoin Minetrix’s stake-to-mine protocol allows BTCMTX holders to earn cloud mining power simply by staking their tokens.
This cloud mining power can then be used to mine Bitcoin without requiring expensive computing hardware or technical knowledge.
For those unaware, cloud mining refers to the process of renting computing power from a remote data center to mine cryptocurrency.
It eliminates the need for individual users to purchase and maintain their own mining rigs, which are often noisy and heat-intensive.
Bitcoin Minetrix’s stake-to-mine protocol can help democratize access to Bitcoin mining and promotes a more sustainable approach.
This approach is particularly appealing as Bitcoin approaches its next halving event when mining rewards will decrease .
Besides the stake-to-mine model, staking BTCMTX offers a yield of 75% per year.
Combining these two features has seen the project now ranked second on CoinSniper.net.
BTCMTX presale in progress
No specific date has yet been set for Bitcoin Minetrix’s official launch, yet investors can still participate in the ongoing presale phase.
At this stage, participates can buy BTCMTX for $0.0129 using Ethereum (ETH), USDT, or credit card.
Bitcoin Minetrix’s team has opted to use a stage-based approach during the presale, meaning the offered BTCMTX price will increase every few days.
XRP holders exploring Bitcoin Minetrix
Considering Bitcoin Minetrix’s features, presale funding, and community, XRP holders are looking at BTCMTX.
Though XRP prices surged in 2017 and 2020, the upside momentum is fizzling.
Ripple, the blockchain company using XRP in its on-demand liquidity (ODL) solution, is also embroiled in a legal battle with the U.S. Securities and Exchange Commission (SEC).
This lingering regulatory uncertainty has put a cloud over XRP’s prospects in 2024 and beyond.
With novel features like stake-to-mine and the high-yield staking protocol, XRP holders can consider BTCMTX and diversify their portfolios.
Bitcoin Minetrix also allows XRP holders to diversify into the crypto mining space, which is expected to be reach over $4.7 billion by 2028.
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This article first appeared at crypto.news
