Mining equipment is available to buy from consumer to professional level, and each of these technologies brings a significant energy cost. In Iceland, the volume of energy used for Bitcoin mining will soon likely exceed the volume used to power its houses, Cointelegraph recently reported. Cointed, the world’s largest provider of Bitcoin ATMs, aims to lead the way in more sustainable coin generating methods.
Bridging the gap between crypto and the real world
By harnessing hydro and wind power, Cointed has pioneered ‘green mining’ with their machines in Austria and Sweden. These mining machines are custom-made and specifically designed for optimum cooling, in order to minimize maintenance (the fans typically found in GPUs have been replaced with heat sinks). The customer then fully owns the hardware. According to the company, by proving it is possible to run these machines solely on renewable energy without losing performance, Cointed have set a precedent for the rest of the crypto world that will hopefully see others follow suit.
This company does not solely provide ATMs (70 machines across four European countries) and mining equipment, however. Cointed claim to be ‘bridging the gap between crypto and the real world,’ making it much easier for traders to exchange their crypto for flat cash. Users can utilize the Cointed site to buy and exchange multiple crypto, at significantly lower prices and with significantly higher levels of security than other providers. The Cointed white paper also states that they provide payment solutions that can be ‘integrated into online shops’ are creating specialized crypto bank cards that will soon be accepted as readily as typical Visa debit cards, and that Cointed is ‘in the final stages of acquiring a banking license.’
Reports emerged about an anonymous $400 Million USD Bitcoin purchase. Allegedly, the buyer purchased Bitcoin for that amount, when it was at around $8,400 USD per coin, between February 9th and February 12th. Reports point to an address – 3Cbq7aT1tY8kMxWLbitaG7yT6bPbKChq64 – showing that in effect, large quantities of Bitcoin moved into it around those dates.
Openness and transparency
Detailed information on the workings of Cointed and their roadmap are publicly available in their transparency report. Customers can find all they need to know about Cointed’s business model and team, and how operations are split between multiple countries (Hong Kong, Switzerland, Austria, Turkey, Sweden and more all play a role). The above report is personally introduced by the main team behind Cointed: Wolfgang Thaler, Christopher Rieder, Charlie Aho and Daniil Orlov. Between them, they have decades of IT and crypto expertise, that should ensure smooth running and exciting developments for Cointed going forward.
The Cointed token (CTD) ICO is running for a further two weeks (closes end of February 2017). Aches Wong and Jerry Ng Chien run CTD; another team with extensive crypto experience and knowledge, who can help steer the value of these tokens in the right direction.
Following the ICO, along with the installation of several more ATMs, Cointed plan to successfully apply to become part of the Mastercard and Visa membership.
Cointed already has 15,000 active users of their currency exchange system. It is specifically designed to be user-friendly for even the most inexperienced traders, allowing for a customizable interface depending on the client’s preferences.
Another appealing feature of Cointed is the ability granted to its users to vote on their business decisions. Any CTD token holders (no matter how small the value of their stake) with a verified account will be eligible to vote (on issues such as which cryptocurrency we will next be available on the platform), improving the democracy and transparency of the organization overall.’
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