There are lots of ways to earn crypto, but if you want to own a sizeable amount, you either have to buy them or mine them. The problem is that both of the options are costly. Especially mining, as the technology needed for it is very expensive. There are other ways, of course. For example, you can get cryptos by earning them with some apps. But that means that your savings will grow at a snail’s pace.
The fact is that wealthy and influential people own the largest amounts of the existing cryptos, while only minor amounts are distributed among the average citizens. However, some investors want to change that balance and shift it on the majority’s side. HTC’s Exodus blockchain smartphones are the result of such attempts.
Midas Labs developed the DeMiner app, which is scheduled to launch in the second quarter of 2020. The smartphones will use that app to mine Monero cryptocurrency while plugged in and idle.
How much could you earn with the DeMiner app?
One of HTC’s Exodus 1S smartphones would be able to mine approximately $0.0038 of Monero during the day, according to Jri Lee, from Midas Labs. At this rate, the owners could earn somewhere over a dollar during a year. Additionally, you should not forget the electricity costs.
However, an Exodus smartphone isn’t really an investment; it’s a usual phone with an additional function to mine a little crypto while it’s charging. The smartphone’s price is €219, close to $237, which means that the customers could accumulate Exodus 1S’s cost in around 170 years. While the owners won’t get significant profit from it, Midas Labs’ idea is important nonetheless.
HTC’s Phil Chen stated that the cryptocurrency world is under threat of the giant mining pools’ domination. He thinks that the most effective way to curb this problem is to make mining accessible for the masses, and a mobile platform is a good way to achieve it.
