Coinmine Launches to Make Crypto Easy, Backed by Industry Titans
With investors from Coinbase and notable cryptocurrency advocates, the company debuts its first plug-in device, mobile app and operating system to make it easy for anyone to power the crypto revolution
LOS ANGELES, Nov. 14, 2018 /PRNewswire/ --Today, Coinmine launches to simplify and automate the complex process of making and maintaining crypto hardware and wallets. With a sleek crypto device and mobile app, Coinmine makes it easy for anyone to power the crypto revolution and earn cryptocurrency for doing it. The company is backed by Coinbase Ventures, Social Leverage, Wonder VC, Arrington Capital and angel investors including Balaji Srinivasan, Brian Norgard, Anthony Pompliano, Ryan Hoover, Josh Jones, Penelope Linge and Tom McInerney.
"Crypto is not just about buying and selling magical internet coins," says Farb Nivi, co-founder and CEO of Coinmine. "It's about people combining computation to decentralize the world's money and information from the hands of a few and into the hands of the many. We made this easy enough for anyone to do."
Many people want to be a part of the crypto revolution, but crypto hardware, software and wallets are too hard and time consuming to set up, and more importantly, to update. So most people will miss out on powering new up and coming cryptos like they missed out on powering Bitcoin in the early days.
Coinmine built a device and mobile app so users don't miss out on the next big cryptocurrency. Coinmine replaces the need for several different DIY hardware and wallet solutions with a single plug-in crypto device and mobile app, powered by a proprietary operating system. The simple setup provides a new level of accessibility into an otherwise confusing activity, and makes crypto easy for everyone.
"Throughout my entire career, I've worked to make complicated ideas simple, fun and useful," said Brian Norgard. "At Tinder, we removed the pain associated with setting up a dating profile so people could get to the action. When Farb initially came to me with the basis for Coinmine, I knew it was a radically novel solution to a messy problem- it was as they say, a perfect match. The limiting factor to scale in crypto continues to be complexity for the end user. Farb and the entire Coinmine team are one of the first companies attacking this problem head-on through a blend of hardware and software."
Coinmine's debut device, Coinmine One, combines several hardware solutions into one personal device. To get started, users plug in the device, open the app and choose the crypto network they want to power. From there, the Coinmine mobile app controls and keeps track of Coinmine One's activity from anywhere. Users can see how much crypto they have earned, change to another crypto or add additional Coinmine devices to their account from an easy-to-read, centralized dashboard.
Coinmine's operating system, MineOS, makes it possible to run different types of networks on one device, including Ethereum, Ethereum Classic, Monero and Zcash. With automatic updates, MineOS will also give access to new crypto networks like Bitcoin Lightning, Grin, Dfinity and Filecoin. This feature ensures users do not miss out on powering the next important crypto network.
About Coinmine Based in Los Angeles, Coinmine simplifies and automates the complex process of making and maintaining your own crypto hardware and wallets. Founded by Farb Nivi and Justin Lambert, the company will launch in November 2018 with its flagship device, Coinmine One.