Two new platforms for Passive Crypto Investors

Crypto behemoth Binance & Mining giant Bitmain are behind the initiatives

Binance has moved far beyond a crypto exchange into a complete ecosystem, adding a diverse line of offerings to its platform. 2019 alone has seen the crypto giant launch an open public blockchain Binance Chain, Binance DEX (a decentralized exchange), an IEO platform (Initial exchange offering), Project Venus (stable coin competitor for Libra) and a Crypto lending platform (for passive investors).

To add this long list of laurels, it just received the ISO 27001 certification by European regulatory bodies. The accreditation is a global benchmark for compliance with EU data protection laws like the NIS cybersecurity and EU GDPR regulations. This will not only assist Binance in its operations in Europe but also give it the credibility that is rare in the Crypto space.

Binance’s Staking Platform

Almost a week ago, Binance added another value-added service for its clients to its existing lineup. The Staking Platform will let the users make money by simply holding their digital balance on the platform, for which they will receive monthly rewards & distributions. In addition, users will not have to worry about setting up any nodes, time durations or other technical requirements.

Proof-of-Work (PoW) and Proof-of-Stake (PoS) system are the two most widely used algorithms in the blockchain world — where the former is used to actually mine the cryptocurrency, the latter is engaged in validating the blocks rather than mining them. Block validators in PoS are selected on the number of tokens a given node has deposited as collateral, in order to compete to add the next block to the chain.

Here is a list of supported coins on the platform & the details of earning staking rewards in each:

Staking holdings can earn you significant rewards passively, depending of course, on the size of your holdings. Great for ‘Hodlers’ who have a long term investment horizon and don’t want to trade actively. In addition to the Staking platform, Binance also continues to expand its Crypto lending services platform launched earlier.

Bitmain’s World Digital Mining Map (WDMM)

Crypto miners had a very rough 2018 with the extended downturn in Cryptos. While many of the smaller players folded, mining giants like Bitmain were able to survive the bearish market in Cryptos albeit with profits taking a huge hit & plans to scrap the much-touted IPO.

Bitmain is back in the limelight with the launch of a platform that will connect global crypto miners. Dubbed as World Digital Mining Map, WDMM will be officially launched during the World Digital Mining Summit (WDMS) in Frankfurt (Germany) between Oct. 8–10.

It will be the first of its kind platform connecting crypto mining hardware owners with the mining farms. The latter will provide all the logistic support for the former in exchange for a fee. This fee will cover all the power resources to host, assistance with mining farm design, operations, purchasing & construction support apart from providing connections to foreign clients to host.

To be listed on the WDMM platform, the crypto farm owners will need to provide data about their current mining operations & the capacity to host other miners. Bitmain also plans to announce the winners of the world’s top 10 mining farms during the WDMS event.

Bitmain continues to look for innovative ways to make crypto mining more sustainable and inclusive in the long term to support the Crypto industry. The company also recently launched the Application Specific Integrated Circuit (ASIC) miners, which are highly efficient & comply with higher cybersecurity standards to prevent malicious attacks.