• Binance, the world’s largest cryptocurrency exchange by daily trading volume, has launched a subscription-based cloud mining service for Bitcoin.
• The service is currently active for six months and users can purchase 1 Terahash per second (Th/s) at $10.7280.
• Binance is facing regulatory pressure in the United States from the Securities and Exchange Commission (SEC).
Binance Introduces Bitcoin Mining Cloud Services
Binance, the world’s largest cryptocurrency exchange by daily trading volume, has launched new Bitcoin subscription-based cloud mining products. Starting today, June 15, Binance users interested in Bitcoin mining but who don’t have the hardware can subscribe to the cryptocurrency exchange’s cloud mining services and purchase hashrates. At the moment, the cryptocurrency exchange is selling 1 Terahash per second (Th/s) at $10.7280. As a user purchases more hashrate, they stand a chance to earn 0.0004338 BTC during the 180-day period.
Regulatory Pressure
The new service comes despite Binance currently facing regulatory pressure in the United States from the Securities and Exchange Commission (SEC). Earlier this month, SEC sued Binance for allegedly breaking securities laws and filed for a temporary restraining order to freeze Binance US assets. As part of its legal team to defend itself against these allegations, Binance US has hired former SEC enforcement co-director George Canellos. Last week it also announced suspension of USD deposits on its platform as it transitions into an all-crypto exchange. Additionally, Coinbase was also sued by SEC for failing to register as a broker or national securities exchange or clearing agency.
Subscription Benefits
The subscription benefits include access to 24/7 customer support with full control over payout address selection as well as no hidden fees or costs associated with maintenance fees or electricity bills like most other crypto cloud mining services provide. Additionally there are options such as reinvestment plans which allow users to automatically reinvest their mined coins back into additional hashpower instead of collecting them directly in their wallet so that they can increase their earning potential even further over time without any extra input from them required after purchasing their initial hashrate package initially on Binance’s website upon signup..
Additional Features
Apart from subscription benefits there are additional features such as real time monitoring of your account balance and profit status via an online dashboard page where you can always check your income progress in real time anytime you’d like throughout your entire duration of subscription term with complete control over payout address selection so that you never miss out on any payments due to incorrect address entries either before or during your subscription term which might’ve otherwise been lost forever if not done correctly originally upon signup process..
Conclusion
In conclusion, customers interested in bitcoin mining can now subscribe to Binance’s cloud mining services starting today providing them with access to 24/7 customer support along with additional features such as real time monitoring of their account balance and profit status through an online dashboard page plus complete control over payout address selection ensuring all payments are received successfully throughout their entire duration of subscription term without any hidden fees or costs associated with maintenance fees or electricity bills like most other crypto cloud mining services provide making it easy for anyone interested in bitcoin mining without having any prior experience necessary whatsoever..