Pavel Veselik from Maximus Coin on the Bitcoin cloud mining industry, its challenges and opportunities in the Czech Republic.
Everyone can be an investor
Maximus Coin, a Bitcoin cloud mining company based in the Czech Republic, is quite a new industry player which focuses on developing New Age crypto-mining algorithms. The company aims to offer returns through their transparent, realistic and short-term investment plans.
With the introduction of cloud mining it became easier to mine Bitcoin and other cryptocurrencies in the comfort of your own home without having to invest in huge data centers and the maintenance of hardware.
Geeks who like building their own systems would certainly go for traditional mining, but users who want to get their hashrate immediately start with alternative cloud mining. It is often considered to be one of the most profitable ways of investing online. However, engaging in cloud mining is accompanied by certain risks.
Making money from nothing is questionable, but, as we know, nothing is impossible nowadays. So, how is it possible to multiply Bitcoins?
“If multiplying money was this easy, nobody would ever be poor. What is the secret of successful business people? They make the right decisions at the right time. The arrival of Bitcoin has opened a wide variety of opportunities to earn profits. We at Maximus Coin offer our users the possibility of becoming an investor. A person with a minimal budget can invest in the construction of mining plants and earn a good return on profits.”
A question of trust has been raised before and will remain one of the most widely discussed. Gaining users trust is important for Maximus Coin, which is why the company is focusing on ensuring transparency in all of its operations.
“As we are investing in cryptocurrency exchange services we are able to offer a higher profit than regular cloud mining companies. To be closer to our customers we are planning to release a mobile app, which is going to be the first one in the cloud mining business. This will allow customers to manage their funds more efficiently.”
Security is perhaps another important thing which worries people who wish to invest in Bitcoin. Recent attacks on the world’s leading Bitcoin exchanges do not make the situation better, but only add to the fear and uncertainty.
Cloud mining companies make a lot of effort to ensure the sustainability of their systems and to protect their users investments. Maximus Coin, for instance, is using strong SSL encryption, as well as licensed protection from some of the best third-party services, including Site Lock (a malware scanner), Code Guard (a daily website and database backup service), and DDOS-Guard for the protection against distributed denial of service attacks.
Paying for coffee and cake in Bitcoin
As we know, the legal status of Bitcoin and regulations in the industry vary substantially from country to country and are still largely undefined. Some countries explicitly allow its use and trade, and even run large research projects to unveil the benefits of its wider introduction, while others have banned or restricted it.
The Czech Republic is among one of the countries that tolerate Bitcoin. However, as Veselik told Cointelegraph, to this day no clear regulatory framework has been developed. Digital currency transactions are subject to anti-money-laundering laws and reporting requirements, and running a cryptocurrency business requires only a trading business license.
The interest in Bitcoin among community members is big and growing quite fast, although it does not necessarily mean it has wider acceptance.
“The Czech Republic is quite a conservative country so only few places accept BTC payments and that's why we are extending our business to the international market.”
The Czech Republic might not rush into absolute acceptance of Bitcoin, but even having few places where you can settle your bill in Bitcoin is already significant progress. For instance, here are just some of the pioneers enabling Bitcoin payments in the country.
Veselik believes that Bitcoin has a good chance of being widely adopted, and perhaps become the main currency for international trading. It is up to the community to popularize Bitcoin and contribute to its wider adoption. Maximus Coin is doing so by making their business more stable, reliable and trusted. The company is striving to develop and expand globally, while putting its main focus on strong and transparent relationship with investors.