To be honest, I’m surprised more projects like Lumerin haven’t shown up. Coming from the “good old days” of purchasing hashpower contracts via Genesis Mining, I’m very familiar with the concept and execution of this product type. Naturally, this caused Lumerin and the hashpower marketplace it’s building to pique my interest. As a product designed around unlocking new opportunities for mining Bitcoin, Lumerin has a high bar to reach. How does it stack up against the originators of this concept? Is it profitable for Lumerin, and more importantly, its users? All this and more in today's Wealth Mastery Altcoin Review.
Lumerin launched its token back in early 2022. But, it wasn’t until last year that everything got up and running for the protocol. For almost 18 months, the project lay dormant.
We’ll get into more specific reasons for that a bit later. But, with all the cloud mining scams we could potentially fall victim to, (covered in my Free “What are Common Crypto Scams” article) the community's hesitancy to participate in such a project is completely warranted.
If all you want to know is if Lumerin’s a Scam. Having used the product, I don’t think it is.
What is Lumerin?
Lumerin wants to allow anyone to mine Bitcoin, despite their location or access to mining gear. This enables a simple way for miners and customers to benefit from a mutually advantageous system, while eventually turning mining power into a real-world asset that can be traded in the open market.