USDT Pool Mining _ a community working on Defi projects currently advertises up to one million (1000000) ETH as part of mining returns. If it falls through, it will be the first time that any miner can provide liquidity for a tether coin.
Crypto enthusiasts will also find this bit funny. Who wants to float a minted and tethered token, usually pegged to 1 US Dollar on DE? USDT Pool Mining is set on this mark, with zero ironies.
So, anyone reading this would naturally wonder if the mining is possible or another huge joke.
People generally go on a limb probing new opportunities in cryptocurrencies, from utilities to staking. However, no one has broached the matter of mining a tether coin. Yet, USDT Pool Mining not only wants to mine USDT but reward ETH equivalents.
Here is the picture _
Either USDT Pool Mining operators have managed to tweak blockchain tech to run ETH as staking tools (they offer full staking options too),
Or it is another dry joke targeting gullible traders.
In any case, the single-page website only shows template features, which isn’t much information. See a clip below.
Some sources driving traffic and running PRs for the platform prefer Telegram Channels to publicly-accessible media, where non-membership doesn’t deter engagements.
Also, the page is new and records low impressions. Still, the offer is out there _ Join the USDT Pool Mining community and earn up to 1 million USDT. Is it legit?
We try to highlight some points about the site in this article. Read on below for details.
USDT Pool Mining: Can You Mine USDT?
The short answer to this question is NO.
It is impossible to mine a tether coin or any token sidling alongside it as a bunch. Tether is a peg, unyielding to market pressure. So, you can’t even brute-force the technical bit since USDT is minted, unlike Litecoin and other crypto coins you could earn through faucets.
Get the facts straight:
Proof of Work and Proof of Stake does not work in this case;
Regardless of the hashrate, you can’t use conventional blockchain or otherwise to mine USDT;
And USDT liquidity is against the concept of tethers.
The entire idea is a sham, unless USDT Pool Mining has other projects to unlock via their Defi moniker. Why? Because you cannot provide profitable liquidity for a stable coin. Here is a clip from learn.bybit (The Pros of Providing Liquidity) explaining the essence of liquidity.
“The primary benefit of liquidity pools is that you’re making exchanges, not trades.”
We’re counting on USDT Pool Mining not jostling with the Smart Contract for control, in which case any profit that comes out of the pool wouldn’t sustain the 1 million ETH.
So, what’s the fuss about in the first place? Only the backend operators and community leaders might give a clue as to the object of a USDT pool. The matter of earning hundreds of ETH from this blueprint is a dead horse, anyway.
Can You Earn 1 Million ETH on the Site?
Again, the answer is NO.
The prospect is hilarious _ two percent (2%) per day from mining USDT! Only a naïve newbie will throw in with this plan.
If you want a long-term high ROI from holding USDT in a pool, except only a few tens in annual returns if the year is good for crypto (a rare feat, of course). A USDT miner can never accumulate 2% per day for you.
Options for Miners:
Investors will have to consider alternative income streams in the long run.
- Affiliate reward cycles using referral downlines
- USDT Pool Mining phasing out to a new hastily-created website
- USDT Pool Mining operators announcing withdrawals would only be possible through an in-platform crypto token.
The options above are merely worst-case scenarios. USDT Pool Mining may well have other functional and sustainable projects or not. The plan to mine USDT doesn’t cut it, regardless.
Reward cycles wind up being an all-out Ponzi, making the first option inviable.
The second and third options are convenient ways to layoff at least eighty-percent (80%) of the USDT Pool Mining community. A new coin translates to former investments in the pool being terminated. Those investing in the platform are doing so by a long sight ultimately.
Conclusion: Is It Legit?
Based on the highlights so far, USDT Pool Mining is not a straightforward platform for traders. And that is saying the bare minimum.
You can consult other sites and community pool platforms to compare the technicalities and prospects of mining tether to USDT Pool Mining. None of the reliable plugs encourages such an offer (up to 1 million ETH) of 2% ROI daily.