Bitcoin mining and mining for other cryptocurrencies are cost-intensive businesses. There is regular maintenance of hardware and machinery, necessary upgrades, complex cooling solutions, and of course, the cost of energy — which is rapidly rising worldwide. If only there were a way to transfer crypto to fiat quickly.
The fast-paced business requires a constant influx of capital to sustain. As we know now, Bitcoin’s value fluctuates over time. In the past, this often posed more problems than it seemed worth. Today, solutions allow Bitcoin and other crypto miners to convert digital assets seamlessly to fiat currencies without all the risk and inconvenience.
Here is how Swapin solutions are revolutionizing how miners access cash from generated revenues faster and easier than ever before.
Bitcoin Miners, Read This
In a normal situation, Bitcoin miners are regularly faced with rapidly rising energy costs, restrictive regulatory policies, and more — not to mention the problems due to the price per BTC falling and rising like a yo-yo.
There is a huge price tag to generate each BTC at startup due to the hardware costs. Ongoing expenses such as electricity or salaries must be addressed with fiat because few utility companies are willing to accept cryptocurrencies directly.
BTC miners and miners of other crypto assets would have to send a portion of holdings to a cryptocurrency exchange, transfer crypto to fiat, and then utilize a fiat off-ramp to send cash to a bank account. By the time the funds arrived, the value could be drastically different than when it was first mined.
Why An Early Crypto Miner Created A Bridge
Swapin CEO Evald-Hannes Kree, an early crypto enthusiast, experienced this frustrating situation firsthand and sought to make a change that eventually became a revolution for the industry.
The company he created offers seamless crypto-to-fiat solutions that bridge the gap between digital and traditional finance. Cryptocurrencies and banks are connected through each Swapin tool, making paying for everyday goods and services fast and convenient.
Swapin is a trusted, EU-regulated crypto payment provider with a wide variety of innovative B2B and B2C products.
How BTC And Other Miners Can Benefit From Swapin
Crypto miners can use InstaPay to transfer crypto to fiat and make one-off payments to hardware suppliers or recurring payments to energy providers and to pay employee salaries.
InstaFill connects a special Swapin crypto wallet to a bank account so that each time crypto assets arrive, they are immediately converted to GBP or EUR and sent to a connected bank account.
Swapin solutions lock the exchange rate during each transaction, eliminating the risk of volatility related to crypto assets. Because the recipient gets fiat currencies, there are fewer accounting headaches to consider.
Summary: Why You Need Swapin Solutions
Swapin makes accessing profits from cryptocurrency mining an effortless task rather than an inconvenient chore filled with hurdle after hurdle. By connecting cryptocurrencies directly to banks, the world of finance can function more fluidly.
If you are a Bitcoin miner or mine another cryptocurrency and are sick of all the challenges and risks along the way each time, you try to convert coins to cash, check out Swapin’s instant crypto-to-fiat solutions.