Press Release

MinerGate mining pool has become the first in the world to secure an off-chain partnership with a crypto wallet. Through this collaboration the pool is essentially outsourcing their withdrawal and storage infrastructure, a step which allows them to focus entirely on their core business – mining – and improve MinerGate's position within the global top 10 multi-cryptocurrency mining pools.

In adopting off-chain microtransaction technology, MinerGate is joining a few giant players of the crypto world, such as Coinbase and Liquidity Network. Off-chain microtransactions mean that smaller transactions (usually under 25 USD) will be conducted off the blockchain. Because this alleviates stress on the blockchain, it is being embraced as a solution to permissionless networks' worst problems: high transaction fees, network congestion, and scalability issues.

Ultimately, this means the partnership will be entirely beneficial for MinerGate's users in terms of expenses and security. The crypto wallet company chosen for the partnership is Freewallet; a mobile-first, easy-use family of wallets, each specifically tailored for one of 25 cryptocurrencies. Freewallet will introduce a more advanced withdrawal and storage service, as well as safe, free, and instant transactions from the pool to the wallet, and between Freewallet users. This makes the service similar to what a bank does with your salary – you don't keep your earnings at your workplace, but rather in a separate place that specializes in storing large amounts of money with the necessary infrastructure and security.

“We believe any service is better when conducted by experts", says the team, adding, "MinerGate specializes in mining, so we feel we are doing right by our customers in relaying the external tasks of storage and withdrawal over to a company that specializes in the field. Freewallet is a reliable service with high potential for sustainable development. Our partnership ensures that our users get the quality and efficiency they deserve.”

With this new partnership, MinerGate’s 3,498,960 users will continue enjoying the same high quality merged-mining service, with 99.97% uptime, withdrawal amounts starting from 0.01 coin, and convenient smart mining feature.

This is a paid press release Cointelegraph does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any actions related to the company. Cointelegraph is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Related News

Building Empires: Biggest Crypto Exchanges Push for Global Presence

Gareth Jenkinson

How to be a better hodler, explained

Chris Jones

Company Lays Out the Benefits of Crypto Wallets for Specific Coins

Connor Blenkinsop

StormX Announces Integration of StormShop For Their Mobile Users

Felipe Erazo

Bitfinex to Delist 87 Crypto Trading Pairs Aiming to Improve Liquidity

Felipe Erazo

Crypto Wallet’s New Tech ‘Speeds Up Transfers and Boosts Anonymity’

Connor Blenkinsop

Follow us on Facebook