Software Lets Users Mine Cryptos on Laptops

Honeyminer, a New Jersey based cryptocurrency startup, launched its free beta software quietly in June this year, and has already gotten more than 10,000 downloads across the world so far.

Mining Crypto Using Laptops

So why had this new startup garnered so much attention? Because its software allows users to mine cryptocurrencies using nothing but their Windows laptops, just like in the old days before the super-powered industrial ASICs took over.

The founders of Honeyminer say that they were inspired to create this app because of the controversy that surrounds Bitcoin mining and the way a large number of users feel that ASIC maker Bitmain has gained an almost complete monopoly over mining hardware and how just a small group of companies control crypto mining at this stage.

According to Honeyminer, users of this app can participate in a dynamic mining pool when their computer’s GPUs (Graphic Processing Units) are not being used to watch videos or images.

This pool focuses on mining GPU friendly cryptocurrencies such as Ether, Ethereum Classic, Zcash, Monero, etc. At the end of the mining session, Honeyminer sends each of the participants their earnings. These earnings are converted into BTC and transferred directly to users’ wallets.

The beauty of this app is that it takes care of all the cumbersome math, settings and configurations. Users don’t even have to check the prices of the cryptocurrencies. The app automatically chooses the most profitable computation for the user and even switches between cryptos every 10 minutes if there is a sudden change in the mining profitability.

Advantages of Honeyminer

With this new app, people who want to acquire Bitcoin but don’t have the money to buy any can mine for their BTCs.

Over the years, the barriers to cryptocurrency mining have been increasing, with the range of people being able to participate narrowing. This is because the use of expensive and specialized mining hardware has given large operation the edge over individuals.

According to Honeyminer’s co-founder, Larry Kom, by pooling people together to mine cryptocurrencies, the app is able to find block rewards faster and also get a higher hashrate.

This may not be the fastest or the best way to earn BTC, but it definitely the easiest and cheapest. This software doesn’t target the serious miner. What it does offer is a way to earn small amounts of BTC without having to pay for it.

The company also stated that there is a specialized version of this app, called Honeyminer Pro in development.