FREQUENTLY ASKED QUESTIONS
HOW DOES MINING CRYPTOCURRENCIES WORK?
A miner provides computing-power to the blockchain system of a cryptocurrency.
Basically, the miner ensures that every transaction made in the network is entered in
a distributed ledger. Every cryptocurrency has its own distributed ledger.
This means no user can fake transactions, since the information in the ledger can’t be changed afterwards. The information inside the ledger is public and can be viewed by everyone.
For this service, a miner receives a block reward in the respective cryptocurrency.
WHAT IS THE “BLOCKCHAIN”?
As the name implies the blockchain describes a chain of blocks.
Each block represents a record of all transactions made in the network of the currency. Depending on the cryptocurrency, all blocks have a constant fixed timeframe or the block timeframe varies dynamically.
This means, that the blockchain will continue to grow, as long as there are transactions being made with the corresponding cryptocurrency.
WHAT IS AN “ASIC-MINER”?
The acronym “ASIC” stands for “Application Specific Integrated Circuit”
ASIC Miners are highly specialized computers designed only for mining cryptocurrencies.
In most cases, an ASIC consists of multiple hashboards which house the ASIC-chips, passive heatsinks, and a control-board that collects data from the hashboards and connects the device to the internet.
Special high power fans are needed to ensure sufficient cooling, because the hashboards have a high power consumption and therefore a lot of heat builds up inside the case.
HOW CAN I START MINING CRYPTOCURRENCIES?
All you need is a miner, a sufficient electrical infrastructure and an stable internet connection via Ethernet cable.
ASIC-Miners are designed only for the mining process, so setting them up is also possible for inexperienced users.
WHAT IS THE ESTIMATED DELIVERY TIME ?
After receipt of payment, we will do our best to ensure a quick delivery.
For customers living in Germany, a delivery time of 3-6 working days is to be expected. For customers residing within the EU, a delivery time of 8-10 working days is our target.
All customers outside the EU are shipped directly from China, in this case the shipping time is 8-12 working days, depending on the destination.
If you have questions regarding shipment, delivery times or problems with your order – please write an e-mail to email@example.com . Our aftersales department is always happy to help.
WILL I RECEIVE A OFFICAL INVOICE?
Yes, an official invoice will be sent from us to your email address within 48 hours.
Payment details will appear immediately after you place your order – we ask for immediate payment to avoid any problems with the fluctuating prices for devices in China.
HOW LONG IS THE LIFE-CYCLE OF AN ASIC-MINER?
A precise answer cannot be given here. There are ASIC miners that have been actively used on the market for several years. A well-known example of this is the Bitmain Antminer S9 which released early 2017 and is still in use today. Also the operational conditions, maintenance and cleaning play a big role in keeping your miner healthy.
We highly suggest you to check the environment in which you plan to operate the device. A stable power connection with the correct frequency is mandatory. The hot air created by the miner needs to be dispersed, and the cool air needs to have a very low humidity.
CAN YOU ASSIST ME WITH SETTING UP MY DEVICE?
We see you not only as a costumer, but also as a partner. That means that we will try to assist you with any question regarding the operation of your ASIC-Miner after your purchase.
Just contact our ASIC-mining specialists at firstname.lastname@example.org via mail.
WHAT IS A MINING POOL?
In a mining-pool, many miners join together to increase their chance of hitting a block reward. That is because if a block of the blockchain gets completed, the first miner with the correct hash-value gets the full block reward.
With combining your hashpower with others through a mining pool, you increase the probability to hit the correct-hash-value of the completed block and therefore allows a more constant cash-flow. The reward gets split between the participants of the mining-pool based on the hashrate they have provided to the mining pool.
Any more questions? Feel free to contact us.
IS MY ORDER COVERED BY WARRANTY?
Yes, according to German law we offer our customers a full warranty for the following timeframes. Malfunctions caused by neglet of operational instructions or misuse are not covered by this warranty.
As a private customer:
– 24 months warranty on new devices
– 12 months warranty on used devices
As a business customer:
– 12 months warranty on new units
– 0 months warranty on used units
ARE THERE ANY OTHER COSTS?
All costs which are to be borne by you are displayed in the official invoice document.
Additionally there can be costs for Import of the goods in your respective country.
For EU customers Crypto Supply GmbH takes care of the import and customs.
For orders with destination outside of the EU, the import- and customs fee must be borne by the costumer.