Cryptocurrencies have often been associated with nerds all this while as per the general perception. For example, when you speak of mining Bitcoin or Ether, all those technical jargons like ASICS and GPU units fly thick and fast around your head. For a common individual who would like to explore the infinite sea of possibilities that cryptocurrencies offer, they need to first understand ASICS and GPUs to mine BTC and ETH.
That’s too much technicality for common folks, right. What if there’s a much simpler alternative available which allows you to mine crypto with no fuss. That’s what the Bee Network promises to the crypto fraternity. Without any further ado, let’s deep dive and understand the Bee network so that you can easily mine or invest in this token with ease.
What is the Bee Network?
Bee Network heralds a new concept in blockchain where mining shouldn’t be taken as a capital-intensive technique. The purpose of the Bee ecosystem is to welcome as many miners on its network as possible through a simplified mining process. Unlike mining BTC and ETH, to mine Bee token all you need is just a phone.
Install the Bee application which lets you log into the mining pool. Once you are done with that, the mining process will be set on an auto-run mode for 24*&7 and 365 days. It is more or less like a daily chore. The cost-effective nature of the mining has so far brought as high as 8 million miners to its mining pools.
How To Mine Bee Crypto On Phone?
To mine the Bee crypto, you need to first download the application from the official application store. If you are using Apple devices, visit the App store; whereas, if you have an Android phone, you can go to the Google Play Store.
Connect the app you have just downloaded with a phone number for further processes. You do have the option to even open via the Facebook account.
There’s SMS verification as well and a code will be sent on the registered mobile number. Input the code in the code section to initiate the process.
If you have a referral code, you can enter that and proceed with benefits.
Once all the above processes are complete, you can now see the balance, team member and mining rates as shown in the image below.
Is Bee Network a Scam?
Technically speaking, Bee Network completely mirrors the Pi Network; however, there’s just one difference, it is completely anonymous. For the Pi Network, you can very well see their team members who are pretty active on LinkedIn. Whereas, when it comes to Bee Network, there’s just abstract information available on the public domain where they claim that the team comprises top-tier experts with hands-on experience on Internet, blockchain technology, and cryptography.
That perhaps is too abstract to believe in any project. On top of this, it has been alleged that Bee Network has been secretly stealing users’ data. On some of the phones, especially, the Android version, it is necessary to allow access to locations, contacts, calls, and applications. All of these aspects take the ecosystem far away from the ethos of decentralization and blockchain.
How Much Will Be Bee Crypto Worth? Price Prediction and Analysis
Bee Network Token like other cryptos has witnessed a period of parabolic explosion followed by nose-diving price action. Having said that, here’s what the charts suggest for the Bee Token;
7-day price action shows a further downward trend taking the prices below the 0.001 support level.
Whereas, when we look at 30-day price prediction, support would build around the 0.001 level and prices could rise to 0.0013280
Bee Crypto: A Scam or A revolution in Mining