When purchasing ASIC miners online, it is crucial to be vigilant and perform proper due diligence to avoid being scammed. It is important to be aware of the price you are paying for the miner and the website or online store you are purchasing from. Additionally, you must ensure that the payment methods accepted are secure and legitimate and that you are not dealing with a fraudulent seller.
We highly recommend purchasing from a company that is registered in the United States. This is because if a business from the US scams you, you can take legal action against them. However, if you purchase from any other country, you will not have this luxury, and you will have NO chance of receiving a refund.
By following these steps, you can minimize the risk of falling victim to an online ASIC mining scam.
Mining is the process used by Bitcoin and other cryptocurrencies to create new coins and validate recent transactions. This process involves decentralized networks of computers around the world that maintain and secure blockchains, which are virtual ledgers that document cryptocurrency transactions.
In exchange for contributing their processing power, computers on the network are rewarded with new coins. It is a self-sustaining cycle where miners maintain and secure the blockchain, the blockchain awards coins, and the coins incentivize miners to continue maintaining the blockchain.