Cryptocurrency exchange BiKi.com is pleased to announce the BiKi Mining Pool has officially launched, adding mining pool and wealth management operations to its platform. A hot trend amongst exchanges, 2019 has seen Proof of Stake (PoS) mining pools rolled out on cryptocurrency exchanges such as Coinbase, Binance, amongst others.
The BiKi Mining Pool mainly includes a number of pan-asset management operations such as PoS mining pool and wealth management for mainstream, platform and popular currencies, thereby responding to a diverse range of consumer financial needs. For the first phase, the mainstream currencies such as BTC, ETH, EOS, USDT and the BIKI platform currency have been included. Popular project VDS has also been selected. When compared to other exchanges, BiKi’s annualized returns of 20% from its mining pool is actually unprecedented, with the next highest at only 12.7%. The launch of the BiKi Mining Pool will be another step in BiKi’s transition from a single growth model to a diversified growth model.
The essence of a traditional PoS mining pool is to obtain financial incentives or income through pledging assets such as BTC, ETH and EOS to PoS projects. However, traditional PoS mining pool has its pain points: Firstly, there are certain thresholds for participating in PoS mining pool; secondly, there is a lock-in period before users can be released from the pledge; lastly, the operation itself could be complicated as the mechanisms are unique to the various projects. Hence when users have multiple PoS certificates, managing them all could prove to be challenging.
BiKi is choosing to enter the market at this time for good reason. As competition amongst PoS mining pools is still shaping up, opportunities in this area are still up for grabs. However, even more importantly, is the fact that new tech solutions on the scene means that BiKi can now implement solutions to counter traditional PoS mining pool pain points.
Compared to traditional PoS mining, BiKi’s staking operation is relatively simple, users just need to hold digital currency such as BTC, ETH and EOS in the BiKi account. If a user chooses to lock its position, he or she just needs to select the “lock staking” option on the BiKi Mining Pool page. The license system in the account can be directly used as the PoS basic resource through the authorization platform. If the user selects the “HODL staking” option, not only will the service not lock the user’s digital certificate, the digital certificate can also be traded or replenished at any time. Simplicity and service are at the core of the user interface. On top of that, while other platforms may charge a fee for the user’s pledge, the BiKi platform does not charge any fees and is thus completely profitable for users.
As the BiKi Mining Pool is still in its initial stages of operation, only some mainstream and popular coins are listed. However, in the future, BiKi will certainly be including more high quality currencies to participate in the mining pool. Always forward thinking, BiKi.com will be working on more innovative gameplay around the construction of BiKi’s ecology so users can certainly look forward to more relevant news coming from these quarters. As the saying goes, better late than never – BiKi’s entry into the arena of mining pools comes at a time when innovative solutions can tackle traditional pain points, a most opportune time.