Binance Pool has announced increased earnings from its users

The last few months have seen the almost weekly launch of new Binance products. These products complement the already wide range of products and services offered by the exchange. Among the new options offered by the platform, the Binance Pool service stands out. This service has announced an increase in the earnings of its users during the week of June 25 to July 1.

What is Binance’s long-term strategy?

The importance of Binance Pool
It is no secret that mining is of enormous importance for the maintenance of the crypto world. For it is through the mining of crypto-currencies that the users of the Blockchain can lend their processing power to the execution and verification of transactions made on the network.

Avoiding the need for a centralized entity to carry out this work. Because it is the community itself that is responsible for maintaining the network of the blockchain.

However, as time goes by, mining in chains like Bitcoin’s has become more and more complex. Specialized mining teams known as ASICs are needed to participate in BTC mining.

This in fact avoids the participation of all those users who do not have the financial resources to acquire one of these equipments. As well as those who do not have the time or willingness to perform the necessary maintenance, so that they can work normally.

Concentrating therefore the decisions on the Bitcoin Era Blockchain, in a small number of large farms with thousands of ASICs working day and night.

For this reason, mining pools like Binance’s arise. Large groups where people interested in participating in Bitcoin mining or some other cryptomonics, can invest their money. Leaving mining tasks in the hands of the organization that manages the pool. The profits from the mining are distributed among the investors, leaving the organization with a commission for its services.

Bitcoin Mining News of the Week

Binance users see their profits grow
In this sense, and thanks to the size of the ecosystem that the company has built, Binance Pool is one of the most important mining pools in the crypto market. It brings together hundreds of users from all over the world, who have invested in the exchange service to participate in the mining of Bitcoin and other currencies, without having to buy and maintain ASICs themselves.

This strategy seems to be paying off for the company’s users. Well, Binance Pool has announced an increase in the profits of its investors through its Twitter account. In fact, just during the week between June 25 and July 1, 2020, its users have experienced an increase of 2.24% in their returns within the pool. This is equivalent to a daily increase of 0.32%.