WHAT IS CRYPTOCURRENCY?
Cryptocurrency is a digital currency in which transactions are verified and records maintained by a decentralized system using cryptography, rather than by a centralized authority.
There are currently two ways to obtain cryptocurrency; 1) Buy it with fiat currency (USD) or 2) Mine it with a special machine. These specially designed machines will generate a certain amount of ETH a day simply by keeping the machine on and verifying transactions.
It's a money machine!
IS IT SAFE?
Your mined bitcoin is stored in a digital wallet that requires a two-factor authentication.
These wallets are likely sufficient for most people however for added security, you can invest in a ‘cold storage’ wallet that resides within an offline USB flash drive.
This means that it would be impossible to access unless it was physically present and requires a password most people write on paper.
Be warned, this would mean that if you lose this password not even you could access the bitcoin!
IS IT HARD TO SETUP?
Not at all! Prior to shipping, each mining rig is thoroughly tested and benchmarked for 48 hours to ensure proper stability and optimized performance.
All clients are emailed a handy QuickStart guide sent in PDF format with instructions on how to set up your crypto wallet, the mining software, and even some tips on safe overclocking to yield the highest stable hashrates.
Lastly, each mining rig has Remote Desktop pre-installed to allow you to manage the rig remotely via iPad, laptop, or a desktop PC so you can set it and forget it in your garage or shed within WiFi range since it'd only require a connected power source!
WHAT DO THE MINING RIGS MINE?
Ether (ETH), which was designed as means of smart-contract negotiation using a decentralized network of computers such as the machine you own. As a reward for validating the transactions as a 3rd party intermediary, you are rewarded by creating a ETH token which you are paid a small fee for in BTC.
Think of it similarly to how Visa / Discover / American Express all act as intermediaries to validate USD transactions between people and entities.
In short, your machine is processing and validating transactions of ETH between parties among a vast network of other ‘miners’ and you are thus rewarded for your computing power to make the financial network function properly and securely.