Honeyminer Review 2021 - Is legit or a scam? Best Cryptocurrency Mining Program?

Running a mining business in today's world, while still being profitable under certain circumstances, requires better planning and execution to squeeze every potential gain in order to achieve the return on investment target. With this in mind, mining networks that serve as intermediates between miners and the blockchain being mined are becoming more and more popular.

Among the most popular features, we can find automatic coin switching (to increase profitability) to automatically convert earnings into popular coins, such as BTC. Therefore, services such as Honeyminer are very suitable for miners who want to maximize profits while saving time.

In this Honeyminer review, we will introduce some basics of its features and advantages, and compare its features with other established services such as Nicehash. In addition, we will review its main features and build a pros and cons chart to better see the differences.

What is a honeyminer?

Honeyminer is a software that miners install on their mining equipment. It connects to the Honeyminer network and routes all mining capabilities to different tokens based on its profitability. However, all payments to miners are paid in Bitcoin (BTC).

Sounds simple? This is true, but manual switching of these coins may prove to be an ordeal, especially if you own multiple mining equipment. Therefore, to put it more simply: Honeyminer is installed on a rig. It will mine the most profitable cryptocurrency and automatically switch to other cryptocurrencies when needed. All profits are converted to BTC and paid to the miners.

Headquartered in Hoboken, New Jersey, USA; Honeyminer aims to make casual and professional mining easier for everyone.

Is Honeyminer safe?

Malware is a real threat, and we must not forget about scams. Given that this is a software that must be installed locally on your PC, some problems may occur, but please rest assured that Honeyminer has resolved most of them in the FAQ section.

In terms of asset and network security, as of the date of this Honeyminer review, its security measures have reached today's standards.

In addition, considering the frequency of payment, if you don't notice it in time, it will be difficult to deprive your mining ability. Nevertheless, please always check your number, if it feels wrong, you can stop at any time and ask them to solve the problem or stop using the service altogether.

Being based in the United States also provides additional assurance, as crypto companies are currently under strict scrutiny in the United States.

How does Honeyminer work?

As we mentioned in the Honeyminer comment earlier, the process of starting mining is very simple and straightforward. The UI/UX of their website is very simple and friendly.

After installing and creating an account, this layout will appear. Please note that it will explain and guide you through the functions of Honeyminer.

Honeyminer will list your CPU and GPU and start mining immediately, you only need to modify it in the "Settings" menu in the upper right corner.

Don’t forget to set the payment address and check your settings in case you want to modify it.

As of this Honeyminer evaluation, only Windows and Mac are supported, but don't worry, a Linux version is under development. Sadly, there is no support for ASIC and no mention of support soon.

Pros and cons of automatic exchange payments

Many miners support HODL (long-term holding of assets) and believe that it is advisable to keep as many different tokens as possible. However, there are too many others, and only the most common coins (Bitcoin or Ethereum, etc.) are worth their time.

When you mine different kinds of coins, especially when using multiple rigs, you need to track expenditures, sometimes even different exchanges and addresses. This can eventually become messy, and sometimes you end up finding some forgotten coins in a long-unused wallet (you are lucky if the value increases).

Enter the automatic exchange expenditure. As the name suggests, Honeyminer will automatically switch tokens based on profitability, but will convert all income into Bitcoin (BTC). In short, all expenditures are processed in Bitcoin (BTC).

Pros

Honeyminer will always choose the most profitable coin to mine and process all bitcoin expenditures, which makes managing profits simpler and easier.

Management and profit calculations are easier and more organized.

Ordinary coins have more and better options to store them (cold wallets, third-party robust systems, etc.).

Cons

It is simply impossible to keep different coins.

Automated transactions sometimes end up at unfavorable exchange rates.

Accumulating all profits in a single coin purse may be a security responsibility.

Like almost everything in the crypto world, your needs are different, and deciding whether a feature is right for you depends entirely on your judgment. However, with this Honeyminer review, we hope to help resolve the issue.

Honeyminer vs Nicehash

Nicehash is a very well-known platform that miners use to concentrate their mining work on a simpler and more comprehensive platform. Just like Honeyminer, Nicehash acts as an intermediary, but some differences should be mentioned.

It is also worth mentioning that Nicehash operates differently. Honeyminer connects you directly to the blockchain of each token, and Nicechash always rents out your hash rate to other miners, thereby providing you with fluctuating rates based on the profitability and leasing rate of the tokens.

Although more does not always mean better, Nicehash does have many options currently unavailable to Honeyminer, but many miners prefer to stick to simple and more direct methods.

Honeyminer is a simple and powerful tool that can help organize and focus excavation work. Small, medium and even large enterprises can benefit from Honeyminer's direct mining method and automatically convert the proceeds into Bitcoin. Honeyminer's founding and technical team is headquartered in the United States, with extensive experience and an excellent team of consultants, helping to build confidence in its operations.

The inconvenience is that if you want to exchange your hard-earned Bitcoin (BTC), you have to transfer them to an exchange, because Honeyminer does not provide an option to do so. In addition, all payments are processed in Bitcoin (BTC) only, there is currently no other option.

Support for CPU and GPU (single or multiple on a single device) and the ability to connect multiple devices to the same account, with little hassle. Sadly, the only users who have no choice but to give up the opportunity are ASIC users. Honeyminer currently does not provide support for these users, and has not disclosed plans to do so in the foreseeable future.

Using Honeyminer is very simple, and although it hasn't introduced more features that are already available in other options (such as Nicehash), their UI/UX is reliable and promising. In addition, Honeyminer is slowing down, tending to feel like a community, which will reward its more dedicated users.

If you want to run simple and efficient mining operations or perform a large number of mining operations using only a PC, Honeyminer is an option to consider. It is very simple, its UI/UX is simple and beautifully made, its functions are simple and practical, and it tends to provide practical solutions for all levels of miners.

As always, your mileage may vary.