People chose to make earnings from participating in the crypto market in different ways. Some could hodl and rely on long-term price movements, while others could constantly engage with the crypto market in what is termed crypto trading. That said, there is a percentage of participants who are not scared to try crypto mining, which could fetch them great profits. Owing to the technicalities involved in mining cryptocurrency, there are various mining tools available to make the process easier and more profitable.
One of such tools is CoinWarz. While the name could pass for a sick crypto game, it is, however, a tool to help track the mining landscape and get an insight into the cost of mining a cryptocurrency relative to the projected earnings. In this review, we will explore all the details of CoinWarz’s website as well as the pros and cons of using it.
What is CoinWarz?
CoinWarz puts together several features to help users understand the business aspect of crypto mining. The creators of this website are aware that mining a cryptocurrency entails that users grasp the economy of the coin in question. You don’t just pick a coin and start mining. It’s a business, hence, the right thing to do is to ensure that whatever you earn from mining would transcend what it cost you to facilitate the mining process. Here, you ought to review the energy factor, as it is certain that your hardware would consume electricity. And depending on the rate in your country, mining a particular coin might not be as profitable as advertised.
As such, CoinWarz offers users a means to calculate mining profits based on the difficulty of the blockchains consensus model and the amount of electricity that the process might consume. Most importantly, CoinWarz provides the right tools to compare the profitability of bitcoin mining with other altcoin mining activities.
What are the features of CoinWarz?
It has a mining calculator
CoinWarz mining calculator allows users to enter details relating to their mining activities and calculate their expected profits. This feature helps miners to avoid unprofitable cryptocurrencies. It also avails a means for them to do proper accounting as regards the amount spent on electricity and their eventual earnings.
It avails several charts for mining analysis
Apart from the calculator algorithm, CoinWarz has three types of charts that users can analyze before embarking on mining a particular coin. The first is the cryptocurrency difficulty chart, which gives users a visual representation of how complex it is to find a new block in a blockchain network. Then, there is the hashrate chart that shows the present and historical data on the total network hashrate of a chosen cryptocurrency. More impressively, you can filter the chart to focus on a particular timeline. Lastly, CoinWarz offers price charts for all of its supported coins. This feature gives users an idea of the current prices of cryptocurrencies, which, in turn, provides a means to estimate their expected earnings whenever they get rewarded for finding new blocks.
With all these charts, users can put together a comprehensive analysis to choose the best cryptocurrency to mine and the best time to mine it.
It provides a platform for people to advertise their crypto project or product
According to coinwarz.com, its website is the right platform for bitcoin and crypto service providers to advertise their brands to the budding crypto community. CoinWarz claims that its website had recorded over 115 million views and 10.5 million unique visitors since it first launched in 2013. Furthermore, data on the site reveal that CoinWarz hosts 500,000 unique visitors and 4,000,000 page views per month. And so, it encourages service providers to capitalize on the popularity of its site to reach a larger audience.
At the time of this review, CoinWarz had 7 advertisement packages. However, to assess the price of each plan, interested subscribers must fill out a form and submit an inquiry.
Having explored the features of CoinWarz, the next session details the pros and cons of using this platform.
What are the pros of using the CoinWarz platform?
It provides an effective way to go about analyzing crypto mining
Mining cryptocurrency is not an easy feat, especially for individuals who go against all odds to compete with cryptocurrency mining farms. And so, it has become important to get all the help one can get to stay in the game. Hence, CoinWarz is a plus to crypto miners, as it gives them a chance of getting all facts checked before dabbling into the crypto mining terrain. Users can do this by exploring charts, calculating profits, and comparing data of two or more mineable cryptocurrencies.
It utilizes an easy to navigate design
CoinWarz adopts a website layout that makes it easier for users to access features and contents. The mining calculator sits nicely at the top of the homepage, closely followed by a table that lists some cryptocurrencies and their respective hashrates, prices, and difficulty charts. Also, users can sort the information on this table to reflect an arrangement based on the projected profits of each coin.
It is free to use
CoinWarz is a free-to-use platform, as users can access all of the features and tools on the platform anytime and anywhere. As expected, the CoinWarz team has looked for another way to make money to maintain the website. To do this, CoinWarz opts for an advertisement services business. Owing to the quality of services that CoinWarz avail, it is amazing that they have looked for a way to maintain free services.
What are the cons of using CoinWarz?
Beginners might find the website a bit difficult to use
It might be unfair to judge CoinWarz based on the beginner-friendly criterion, as it tackles a rather complex topic. New crypto miners could find it hard to interpret the charts, data, and functions available on the platform. Also, CoinWarz’s decision not to include any blog post or article to explain its features, in details, does not help either.
CoinWarz’s team are anonymous
For a platform that has existed for so long, it’s a bit unsettling that there is little or no information about the individual or teams responsible for the smooth running of CoinWarz. Besides, there is an issue with the non-transparent pricing system of its advertisement packages.
CoinWarz does everything right to offer users the tools to get their crypto mining business in order. Its chart, data, and calculator speak volumes of the work put into creating this platform.