Why You Shouldn’t Mine Cryptocurrency on Your Smartphone

There are mobile applications that allow you to mine digital assets. However, some of them were created by scammers, while others do not bring substantial income.

Some users are sure that it is still possible to mine bitcoin on a home computer or laptop, and to mine altcoins, a smartphone on the Android operating system will be enough. If you type “Mining” in the Google Play app store, in addition to games on this topic, you will definitely see several options that promise easy money.

Money Miner

For example, an app called “Money Miner — new bitcoin mining app” has been downloaded over 500,000 times and has a 4.2 stars rating. In the application description, the developers speak several times about making money on the Internet without investments. Still, they do not specify that the program is just a simulator and has nothing to do with actual crypto mining.

Many users write in the comments that they have not yet withdrawn their funds but are waiting for this moment. Others answer that there is no way to withdraw funds, and the first time the application is launched, a warning appears that “there is no conversion of internal units into cash.”

Almost all reviews that have a 5-star rating do not touch on the withdrawal topic. Instead, users write that “they haven’t tried to withdraw cryptocurrency yet, but for now, they like everything.”

Electroneum project

A more realistic way to mine digital money, but not bitcoin, exists in a wallet from the Electroneum project. It has been downloaded more than 1 million times and judging by the feedback from users, it is realistic to withdraw digital money, but you still won’t be able to make real money on it. Even if you use this application for two months, you will not even be able to buy a cup of coffee for the amount you earned.

BTC Miner

Also, among the games on Google Play, you can find the “BTC Miner” application. The description, full of grammatical errors, says that this is a new cloud mining project for bitcoin. The developers claim that the application will allow you to mine a certain amount of coins for free. The program has been downloaded over 10 thousand times, and its rating is 4.1 stars. However, in the comments, users write that when they try to withdraw funds, the account is reset to zero, and the project team explains this by a crypto scam and other fraudulent actions.

LATOKEN has already written more than once that the field of cryptocurrencies is full of scammers; they come up with new ways to deceive users. For example, you can find out more about crypto scams on mobile devices in our article — Most Common Crypto Scams on Mobile Devices.

If you want to get into LATOKEN mining, then doing it on your smartphone is not the best idea. It is unlikely that this will bring at least some profit, but the device can quickly fail due to constant overloads — in this case, you will take serious financial hits. But the best idea is to download the LATOKEN app from Google Play or App Store!

For more hot news on blockchain technology, LATOKEN mining and cryptocurrencies, follow LATOKEN on Medium, on LATOKEN Blog, or LATOKEN VCTV channels.

About LATOKEN

LATOKEN, an international cryptocurrency exchange and IEO platform with over 1500 000 users across the world.

LATOKEN, a leading crypto exchange, makes investing and payments easy and safe worldwide. LATOKEN brings trading and banking to blockchain technology to automate transaction processing and save billions of work hours per year. A single year after its initial launch, LATOKEN got over 750k downloads on Google Play and over 1 000 000 followers on socials. Entrepreneurs looking for funding can consider the LATOKEN IEO Launchpad. There are 240+ digital assets available for traders with the option to connect using RESTful or WebSocket APIs on the LATOKEN platform. In addition, LATOKEN is planning to launch its own NFT Marketplace.

LATOKEN does not provide investment, tax, legal, or accounting advice. This article is written for informational purposes only. Like many other assets, cryptocurrencies are subject to high market risk. Please trade with caution.

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