Crypto Glossary

Honeyminer

Honeyminer is a cryptocurrency mining app available for download on multiple devices.

What Is Honeyminer?

Honeyminer is a cryptocurrency mining app available for download on multiple devices. It uses GPU and CPU power to mine the most profitable currencies, as the app can automatically switch from one coin to another coin at ten minute intervals. 

Once the app has calculated which altcoins are most lucrative and have the lowest difficulty, Honeyminer can mine numerous coins. These various mined altcoins are then converted to Bitcoin. It’s important to note that Honeyminer is not an open-source platform, therefore all of its operations are not transparent to users. 

Another goal of the app is to enable users to mine cryptocurrencies using their own personal computers – even laptops. This is done through participation in a dynamic mining pool, with users running the app when their computer's GPU isn't in use. The pool focuses on mining altcoins that are GPU-friendly. At the end of the session, Honeyminer sends the participant their earnings in equivalent Bitcoin directly to their wallets. 

One of the main benefits of Honeyminer is its high level of security, as all of the rewards awaiting withdrawal are kept in safe cold storage. The app developers go even one step further and report suspicious log-ins to users. Users also have the opportunity to turn on two-factor verification (2FA) if they wish.

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