Splitt, a cloud-based mining service is the talk of the Crypto town these days. Launched in August this year, the platform already boasts of a hundred thousand user base and more than ten thousand investors. It has attracted an upward of $5 million in investments from different investors.
Splitt can attribute its success for thinking out of the box. Generally, crypto mining is a tough task and require great computational powers. Miners used GPU/CPU based systems to mine the crypto and get a subsequent reward. However, these mining machines are power chomping monsters in their own right, and miners have to burn money on not just the device but the power consumption charges as well
How Is Cloud-Based Mining better than traditional Ways?
Splitt has created a cloud-based service where your PC does not need to draw any juice from your CPU or GPU. The Splitt has a centralized Power system and uses ASIC integrated chip to provide enough power to its users. The ASIC chip is hailed as the next best thing in Crypto mining world. These chips use very less power when compared to the traditional ones. It does not require any specific hardware moderation to make your computer into a mining machine. They draw their power from shared data centers
The company has a well-structured plan for expansion and they have opened a fully-functional office in Thailand. The head of the Thailand branch is a proclaimed Crypto scholar Mr. Taradon Kriwichet. In future, they are planning to open a Splitt cafe by 2019 in Thailand itself.
A senior spokesperson of Splitt was quoted,
“We are happy to let you know that we have received an investment of more than $5 Million to grow our business. We have been unstoppable in recent months, with more than 95k users and 10k investors. Now, we also have a fully operational office in Thailand and much more is expected in the near future.”
What Advantages Does cloud-based Mining services hold over the Traditional Ones?
We talked to different users and experts and asked them what advantages does the cloud-based mining hold against the traditional ones. Some major advantages that we came across are:
- First, it eliminates the hefty cost of buying a good mining machine which can cost around $1500 dollars.
- Since the processing power is centralized, you won’t face any power related issue and of course the noise.
- It rounds off to a way better trade as it saves you a ton of money.
- There are no issues with system crashing or software failing.
- The Splitt has promised a very authentic and transparent system, whereas a customer you can easily contact them in case any issue arises.