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Binance pool launches cloud mining


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Renowned cryptocurrency mining platform of Binance, identified as Binance pool has launched its cloud mining services. The exchange confirmed the development in its Tuesday blog post. As announced, the newly launched cloud mining allows users who do not have access to mining equipment to earn mining rewards from the pool.

Occasioned by this development, users can now complete their Cloud Mining product subscriptions. Worth noting that this subscription allows them to purchase hashrates and mine BTC on cloud. According to Binance, the cloud mining is expected to become effective from 22nd of November, 2022 at 04:00 (UTC).

To celebrate the launch, Binance said every user who subscribe to the cloud mining products during the activity period will be eligible to enjoy zero management fees. This zero management fees will be available on their mining pool rewards for one month.

Notably, standard mining pool rewards includes a 2.5% mining pool fee and a 1.5% management fee. As revealed, users must complete their account subscription to qualify Cloud Mining products. Also, users are only eligible to qualify for zero management fees during the activity period.

Binance soaring despite prevailing bear market

However, despite the ongoing market crisis, Binance and its subsidiaries have remained unrelenting in expanding and improving its offering. Barely a week ago, the exchange Fan token inaugurated its “football Fever 2022 project”. As revealed, the project materialized in order to commemorate the ongoing World Cup in Qatar. Notably, the new challenge allows users to win up to $1 million worth of rewards online. To win, users need to register, and predict the outcomes of the matches unfolding in the tournament.

In addition, the Binance integrated OpenSea NFTs into its marketplace. As revealed, the exchange revealed that the integration came as part of the first phase upgrade on its marketplace. According to Binance, its integration of Opensea NFTs enables users to explore non-fungible tokens from multiple blockchains and marketplaces. In addition, the exchange also announced that its upgraded marketplace will also include the majority of OpenSea’s top 200 NFT collections. As revealed, the collections will be collated using the ERC-721 standard. According to Binance, the integration remains an exciting milestone for its marketplace. The exchange further revealed that it aims to become the go-to platform for NFTs.

Last Friday, Binance exchange also launched Cristiano Ronaldo NFT collections. According to the exchange, the exclusive NFT collection designed to feature the football star man is exclusively available on its marketplace.

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Dare Ibitoye
Dare Ibitoye
Over the years, Dare has been a committed reporter in the field of cryptocurrencies. He is also interested in researching about the innovative projects within the blockchain space. During his spare time, Dare loves to listen to music and read about technological trends in the contemporary world

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