Today there are tens of thousands of crypto assets, but for users who haven't plunged headlong into the crypto industry yet, they all look almost the same. For those who would like to better understand it, there are a lot of materials on the web on how to figure out which tokens are better, which criteria to use for their evaluation and what to pay attention to first of all.
We have chosen three of the most respected resources, seeking to use them to examine ourselves from the outside and understand how attractive Minto’s BTCMT token is from an expert viewpoint.
So, Cointelegraph, Coindesk and Investopedia practically agree: in order to assess whether a token is good, you need to understand what problem it solves, what technologies it uses, what and who is behind the project, and how they interact with their users.
Let’s start at the beginning.
What problem is the Minto project trying to solve?
No matter how attractive Bitcoin mining is, today direct access to it is closed off for an ordinary person. Now it is the business of large mining companies, and it is almost impossible to compete with them, because they have obviously better conditions due to their turnover.
At first, this problem seemed to be solved through cloud mining, whose services actively offered contracts for the purchase of mining power. At first glance, the disadvantages of this approach were only the long contract terms and the need for their full prepayment.
However, practice has shown that, regardless of the contractual terms, most of these services are completely opaque, unprofitable and unable to exist in difficult market conditions, turning into a regular scam as the market falls.
Hashrate tokenization technology has emerged as an alternative to cloud mining. It allows services to offer users mining power in the form of hashrate tokens freely traded on the market. We described the advantages of tokenized hashrate over cloud mining in detail in the article How to Determine that a Mining Project Is Not a Scam?
However, many hashrate tokens have also failed the market test and turned out to be a scam. We have listed several unsuccessful tokenized hashrate projects that should be avoided if they come back to life, and used the same examples to show how to avoid trouble in the article Why Is Minto Feeling Good When Mining Tokens Are Dead?
In this sense, the Minto project remains one of the few who haven't lost the trust of users, pays mining rewards daily and continues to develop successfully regardless of market conditions.
So, as far as the private mining issue, today Minto offers one of the most reliable solutions with time-tested effectiveness confirmed by relevant statistics (more on this below).
How does the Minto project plan to solve the problem?
Minto not only plans, but also successfully solves the problem of access to the mining market for private users. As Coindesk and Investopedia advise, pay special attention to the project website and Whitepaper, since these resources reflect the whole Minto essence - information about the team, about the token, the roadmap, etc. The BTCMT hashrate token is traded on the Pancake Swap exchange, its liquidity is about $2 million (mid-June 2023), market cap ~ $4 mln, trading volume ~ $0.5 mln/week.
The BTCMT trading volume shows that the interest in the BTCMT token as a speculative asset is relatively small. This is quite fair, since the greatest income can be obtained not by trading BTCMT on the exchange, but from their staking. It is BTCMT staking that ensures the earning of daily mining rewards in Bitcoins, and it would be naive to believe that trading will allow you to earn more.
The exchange liquidity is designed to ensure decision-making freedom on hashrate management: you can buy or sell it at any time, and it’s much better than buying a cloud mining contract and not being able to cancel it even in case of obvious losses.
So, by buying BTCMT hashrate tokens and staking them, users earn daily mining income in Bitcoins without the need to invest in expensive mining hardware. This is the solution to the problem, thanks to which thousands of private users are already mining Bitcoin using Minto hashrate.
Who is behind the Minto project? Do they have the necessary experience and expertise to address the problem efficiently?
Minto is an international team of enthusiasts and professionals in their field, read more on them on the About page. After studying the project's website, you will see that Minto primarily comprises real mining infrastructure - data centers where Bitcoin mining does not stop for a second. Today it entails 120 MW of capacity with the prospect of growth to 220 MW. Minto builds data centers, puts mining hardware into operation, consistently tokenizes its hashrate and offers it to its users. All these aspects are described in detail in the project’s main document - its Whitepaper.
In Minto Stats everyone can see the current hashrate and energy efficiency parameters, profitability, daily payouts, etc. The Minto dashboard or the user's personal account is a convenient hashrate management interface where you can fully focus on Bitcoin mining, owning a certain amount of mining power.
The Minto team does not stop there, actively interacting with its users on social media. The Minto community participates in all important decisions made by the project by voting, proposed in the corresponding dashboard section. The results achieved by the project indicate that the Minto team is on the right track and has expert knowledge in the chosen field.
Is the technology behind the Minto project sound and secure?
Minto is based on several advanced technologies. First, it is hashrate tokenization, which allows you to transfer the management of mining power to the DeFi world. Smart contracts rule in this world. The success of any project depends on the quality and security of smart contracts. Minto smart contracts have been audited by the world's leading audit companies, as can be seen in the relevant reports.
Minto also uses the technology of 65% mining hardware uptime, which allows you to flexibly manage mining profitability and remain in the black even in fairly difficult market conditions, when many companies are forced to simply turn off their miners in order not to work in the red.
Thus, information about Minto's capacities is confirmed by an independent source, one of the top-3 mining pools, which has a huge trust level in the crypto community, and the security level is reflected in smart contract audits from leading audit companies.
List of resources where you can evaluate the Minto project:
Minto is an absolutely transparent project, so it is not difficult for us to publish the information recommended by Cointelegraph, Coindesk, Investopedia and many other portals to assess the quality of BTCMT tokens. Below is the entire list of resources required to evaluate Minto:
https://www.minto.finance/ - the official project website. Here you can get acquainted with the company, the team, the key aspects of the work, evaluate the convenience of the dashboard, calculate the return on investment, see the payout statistics, roadmap and much more
Dashboard - Minto dashboard for managing mining power in your personal account
Blog - Minto blog with news and articles about the project and the crypto industry
GitBook - collection of guides
Whitepaper - the main document of the project describing the so-called tokenomics, i.e., the goals, ideas and technologies implemented
Vote - list of key decisions on project development made by its community
BTCMT token smart contract - token page on the BSC network
Audit report of the staking smart contract by Hacken
Data center stream - online stream from the largest Minto data center, the longest in Europe
Minto Telegram - Minto's official channel in Telegram
Minto Chat - Minto Telegram chat
Minto Twitter - Minto's official Twitter feed