What is Cloud Miner and how does it work?
Cloud Miner is YouHodler’s unique feature - a crypto mining simulator and reward system that awards users for completing simple tasks. In simple words, it’s a Mining simulator built around the idea of simplifying and gamifying the Bitcoin mining process, without using the user’s device CPU resources. Cloud Miner is a perfect tool for getting the additional benefits from using the YouHodler app in a simple game form. Let's see what this feature offers, since getting profit from YouHodler Cloud Mining is simple as 1-2-3.....
How to start using Miner?
To get into the Miner, just click the "Cloud Miner" button in the account menu.
How to start mining?
On the main screen of the Miner you can find available blocks for mining.
To start mining the block click on it. Activation of the block is possible only with a sufficient number of Sparks. The cost of activation is reflected on the block itself. Sparks are written off at the start of mining the block.
If the block activation is successful, the mining time is displayed on the block.
When the mining is completed, click on the corresponding block. After this action, your balance will be updated and funds will be credited to your account.
Once you mined all blocks, to unlock all of them again, click the "Unlock all blocks" button to start mining again.
What is Spark?
Spark is a special "fuel" for your YouHodler Cloud mining activity. Please note that the Spark token that you see in the YouHodler Cloud Mining service is not a blockchain-related token, but a special internal currency that can be used inside the YouHodler Cloud Mining service only.
How can you earn Spark?
Depending on your level in the YouHodler Cloud Mining service, the conditions for receiving sparks may vary. So to find out the ways to get the Spark, it is necessary to familiarize yourself with the conditions of your current level.
You can get sparks for MultiHODL product using. In that case, you'll get 1 spark for each 1k USD volume in your deal at the moment of opening and closing the MultiHODL as well.
Or keep a certain level and get sparks every few hours. Free-sparks generation is available for a limited period of time and
You can also get Sparks when you get a new level.
What does level affect?
Depending on your level, the conditions for using the Miner may vary. Detailed information about each level can be found by scrolling the Miner screen (or level tabs in the app).
Section description:
"Reward per block" - the amount of BTC that can be earned for mining one block;
"Mining speed" - time required to mine one block;
"Available blocks" - the number of blocks available for mining;
"Mining cost" - the cost of mining one block in sparks;
"Free spark every" - the frequency of crediting free sparks for staying at the current level.
By default, you can see your current level, and by scrolling this screen to the right or left, you can familiarize yourself with the other level conditions.
How can you change the level?
Depending on the conditions of the level, the upgrade conditions may vary. The conditions necessary for jumping to the next level can be tracked on the miner screen and can be divided into two types.
Complete a required task.
Support the trading volume at a certain level using the MultiHODL product.
The trading volume is the sum of the turnover of all closed MultiHodls (input amount * multiplier in USD) since the level was reached.
What happens when the level changes or it is confirmed?
The user's level can be changed for two reasons:
The level term expires
The new level conditions are met
The same level can be kept as well if you supply the required activity.
In the case of the level upgrade the Miner's conditions will be updated in accordance with the new level conditions:
The available number of blocks for mining can be increased or decreased;
All sparks spent for already activated but not mined blocks will be returned to your spark balance before the blocks are restored;
The reward for mined but not collected blocks will be paid to your BTC balance before the blocks are restored;
The free-sparks amount and generation time change according to the new level conditions;
The spark reward for MutliHODL updates according to the new level conditions.
How to benefit more?
With one MultiHODL deal, you can benefit from price changes, passive income from your balance, and mine BTC effortlessly.
You can set the perfect balance between risk and profit with the multiplier. A lower multiplier means lower risk, while a higher multiplier means higher potential profit.
Crypto/Stablecoin: Benefit from the ups and downs of BTC, ETH, LTC, and over 40 other cryptocurrencies.
Crypto/Crypto: Hedge with the ETH/BTC currency pair, focusing only on the ETH price relative to the BTC price.
Stablecoin/Stablecoin: Speculate on the market based on the price difference between fiat currencies.
Moreover, each 1k USD worth amount of funds used to Increase your position is equal to 1 spark.
Important info
YouHodler reserves the right to make changes to the service conditions at any time without prior notice. Please note that the free sparks may stop accruing after a few days of account inactivity for some earlier Loyalty levels. Additionally, due to the volatile nature of the blockchain network and BTC price, certain parameters such as miner rewards, mining cost, board reset cost, and others may be dynamically adjusted.
The company reserves the right to deduct rewards provided through the YouHodler Cloud Miner bonus service if the account does not pass KYC within 30 days after using the YouHodler Cloud Miner.