While it’s easy to assume that cryptocurrency mining probably doesn’t do too much damage to the planet, you may be in for a surprise. Bitcoin, for example, depends on millions of systems across wide-ranging networks. That set-up in itself is always going to demand a lot of energy consumption. What’s more, there is never any guarantee that all the hardware that is crunching these transactions is running on eco-friendly power.
That, ultimately, is where eco-friendly cryptocurrency comes in. We’ve previously considered three of the biggest players in environmentally-responsible crypto mining. It’s a wave of sustainability that’s continuing to pick up interest. In a world where we are all more conscious of what we are doing to our planet, it makes sense that we should apply the same concern to how we’re making money online.
Why use EcoCoin?
EcoCoin is a cryptocurrency standard that’s been around for some time. Its name alone probably gives you a good idea of what to expect. But aside from market value and potential returns, what are the wider benefits of using EcoCoin? Beyond this, what are the further pros of using other sustainable crypto solutions?
It’s easy enough to use software such as the Bitcoin Billionaire app to start trading; however, it should be just as easy for you to embrace alternative, environmentally-friendly services.
Doing good for money
EcoCoin works on a fairly simple premise. By carrying out sustainable work and doing genuine ‘good’, you receive crypto. It’s wildly different from other cryptocurrencies such as bitcoin in the sense that it has a grounding in the natural world. Each EcoCoin represents a single tree, for example. Users and investors won’t be able to make money or receive coins until they perform sustainable tasks, or by buying coin outright.
One of the main ways to generate EcoCoin wealth is through donating trees. The system allows users to think carefully about what they are giving back to the planet, rather than what they are taking out in wealth.
Some currencies allow you to buy energy to sell to others, while some, such as EcoCoin, will allow you to invest your exclusive currency in sustainable products.
Switching power supplies
Another main focus of eco-friendly cryptocurrency appears to be that of shifting between how mining is physically powered. It is clear to many that bitcoin has an intensive demand on fossil fuel energy generation. That’s why there are several eco-friendly brands which actively run purely on sustainable resources. Hydrominer, as you may expect from the name, purely runs through hydroelectricity. It’s just one of several ways that alternative crypto is pushing to change the game.
Raising awareness and making impacts
There are huge benefits in switching from regular crypto to EcoCoin and its contemporaries. One example is how the currency is helping to show investors how much good they can do through very simple means. Not only are you able to make money through these resources, you are actively giving something back. Rather than taking away from the planet through endless bitcoin mining, you are actively planting trees, sharing energy and freeing up green resources.
It is a solid platform to generate and build awareness. Many newbie investors may not immediately understand how much of a negative impact their trading could have on the planet. Sustainability is proving itself to be more than just a fad or a buzzword, in the sense that we are already seeing huge waves of benefit from cutting back on inefficient resources.
Can EcoCoin sustain me?
As with all cryptocurrencies, environmentally-conscious money is going to fluctuate in value. Therefore, anyone looking to get into sustainable crypto just to make a quick bit of cash is likely to be disappointed. However, it’s worth keeping in mind that this is a market which is always growing.
The main investors in crypto are likely to be those in the target demographic for sustainable change. Millennials and Generation Z investors are likely to cross over into the same group that is trying to be more responsible in their everyday activities.
For many people, the concept of eco-friendly crypto is a win-win. It’s a way to make money, as well as to do genuine good for the world around them. With there being no sign of eco-crypto slowing down after two to three years in the headlines, these are very promising times indeed. Why sink your money into energy-sapping mining facilities when you can rebuild the planet one coin at a time?