One could define the MiningFriendly project as crypto mining for the masses. Dr. Jürg Richards explains that MiningFriendlyis a way to give mining accessible to everyone, without any prior technical knowledge or expertise on either blockchain technology, cryptocurrencies, or the mining process itself.
Headquartered in Norway, MiningFriendly’sbusiness model is built upon the purchase of shares of mining capacity, also referred to as “mining rights”. The customer acquires a smaller or larger share or mining rights, according to a series of financial plans and receives small or large crypto yields (payouts).
How Does MiningFriendly Actually Work?
For many people out there, crypto mining is a term as arcane and unfathomable as ancient alchemy. The mining process is often misunderstood, so the driving forces behind this project are to remove all technical complexity for the customer and focus on productivity and yield through a diverse set of currencies.
The basic premise of MiningFriendly is customers investing in machine capacity used to either produce cryptocurrency or offer services on the blockchain through a system that involves Masternodes (MN), Proof of Work (POW) and Proof of Stake (POS). Additionally, a continuous evaluation is performed to ensure the best cryptocurrencies are selected and mined, while also evaluating the crypto market, to guarantee the highest profits.
The company exchanges the cryptocurrency profits into the fiat currency that the customer’s account specifies. Therefore, a customer’s mining capacity is not exposed to cryptocurrency fluctuation. Returns are generated from mining and services provided for cryptocurrencies.
The mechanics of MiningFriendly revolve around five-set plans: Plan A, Plan B, Plan C, Plan D, and Plan E. Each of these plans have their own set of features, payout levels, and duration.
- Plan A – Flexible-payout:A one-time repayment of mining capacity purchase amount plus payment of mining profits at the end of the holding period chosen, usually one year. The advantage of this plan is that you can choose to buy additional mining capacity or terminate at any time.
- Plan B – Monthly-payout: A monthly payment of mining profits and a separate repayment of the mining capacity purchase amount at the end of one year. The advantage of this plan is that you receive monthly payouts.
- Plan C – Amortized-payout: A monthly repayment of the amortized portion of the mining capacity purchased plus monthly mining profits over twelve months. The advantage of this plan is that you receive back a monthly portion of your purchase amount plus monthly mining profits.
- Plan D – Daily-payout: A daily repayment of amortized mining capacity purchased plus daily mining profits over 365 days. The advantage of this plan is receiving a daily amortized amount of your mining capacity purchase (1/365th) plus daily mining profits to your Bitcoin wallet.
- Plan E – Compound-payout: A reinvestment of monthly mining profits over 36 months. Repayment of the mining capacity purchased plus payout of compounded monthly profits at the end of 3 years. The advantage of this plan is the power of monthly compounding.
The company does not specify a limit to the volume of mining rights that a customer can purchase but in the case of large investments (“large” meaning several million dollars), MiningFriendly will structure a specific investment plan.
While plans run for 12 months to 36 months, the customer has the option to cancel their mining share in some of the plans and can specify the currency that the profits are returned in through settings on the site. The customer can choose if and when to reinvest, by purchasing additional rights, for example.
Plan A, for instance, can be canceled at any time and automatically expires after one year with payout. This is the only Plan that allows a customer to terminate early and receive their money back including accumulated returns. Plans B, C, and D run for exactly 12 months from the purchase date and cannot be terminated early as monthly or even daily payments are made. Plan E runs for three years with no early termination but offers to compound interest.
It is possible to keep the mining rights after the 12- or 36-month period has expired. Plan E is designed to facilitate that option. Being a customer already enables a seamless transition to extend.
It is also possible to ‘top up’ the capacity share within your plan. Any new mining rights added run for 12 months.
The technical setup means that it is not possible to keep different plans in one account. Each plan is tied to a single username. A second plan will require a second username. The same rule applies if a customer wishes to purchase mining rights in different currencies.
Performance and Referrals
MiningFriendly is set up in such a way that a customer can see their investment in real time. Information, such as mining rights, the mining profits, daily growth and month end numbers can be seen at a glance in their account.
The company offers a referral program, whereby you can enter a friend’s email address in the online shop or post their personalized link on social media. Should your friend, colleague, or family member (person A), purchase any plan using your personalized referral link, the new account of person A is automatically linked to you where you receive 10% of any new business generated from person A.
The referral program works for a total of three connections down the line. If a friend of person A brings a new client (person B), you receive 5% of person B’s mining rights. And if they, in turn, bring a friend (person C), 2.5% of the purchased mining rights will be passed on to you.