JT Foxx, the World’s #1 Wealth & Business Coach

Frequently Asked Questions

For JT Foxx's views on Cryptocurrency Click Here

1) What is Mining CryptoCurrency and how does it work and make money?

Mining cryptocurrency involves the use of specialized computer hardware designed to solve complex mathematical algorithms which when solved add to the blockchain. Miners are rewarded with a coin when they solve the algorithms which in turn have value in the market place. The computers are designed and engineered to mine specific types of currency and are not interchangeable between different currency types. These computers are housed in large data centers with other mining units and cannot be operated more efficiently than at home or in a business location due to the high power consumption these units draw.

2) What is the difference between mining bitcoin and buying the bitcoin coin it self?

With bitcoin mining, you actually create the coin by solving the blockchain algorithms associated with each currency type. These coins are typically created at a fraction of the market value of the coin which creates a spread or earnings for the miner. Buying coins is an investment strategy where the purchaser either trades or holds the coin for appreciation. This strategy is viewed as more risky than mining.

3) Is there risk in mining?

Crypto Currency is a great opportunity and becoming more mainstream, but it is still a very risky vehicle for any anyone getting involved in all aspects for Crypto from mining to trading.CryptoCurrency is not a get a rich quick scheme and should be looked at as a long term value proposition. Under no circumstances should you ever put more than 10% of your net worth, into Crypto Currency or any investments for that matter of fact.

4) How do I get paid from my mining and where does it go too?

The daily financial results from operating a miner are credited to a miners unique account by the host that operates the data center. Ultimately, the coins created by the mining activity can be transferred from the account managed by the host to the miners crypto currency wallet.

5) Once I buy mines, can I buy more?

The purchase of a mine is a hardware purchase. Miners can purchase multiple hardware units which gives them the opportunity to earn more income from these mining activities.
We have ability for mines now, but we give no guarantee there will be more available, but if there is more, you will be able to buy direct from a website.
As more data centers are built and additional mining hardware is purchased, existing customers will have the first opportunity to buy additional mines. These mining units will be available for purchase in multiple quantities from the website.