Asic Jungle Launches Beta Version Of “The First-Ever Mining Hardware Marketplace” For Crypto Mining Hardware
Asic Jungle Launches Beta Version Of “The First-Ever Mining Hardware Marketplace” For Crypto Mining Hardware
October 14, 2020
Asic Jungle Launches Beta Version Of “The First-Ever Mining Hardware Marketplace” For Crypto Mining Hardware
Asic Jungle Launches Beta Version Of “The First-Ever Mining Hardware Marketplace” For Crypto Mining Hardware
October 14, 2020

Asic Jungle has launched a beta version of “the first-ever mining hardware marketplace” for cryptocurrency mining hardware. 

Artem Bespaloff, the CEO of Asic, said that he has created a trusted platform for second-hand mining equipment that operates without any middlemen.

He added:

“[It’s] the first and only online marketplace where buyers can interact directly with sellers through the platform and not have to use any brokerage services or Telegram channels (I call them ‘sketchy’ Telegram channels) because all sorts of things go on there. And we decided to create this ecosystem where buyers and sellers deal together between themselves.”

It has been reported that the company’s solution to these problems is a two-sided marketplace that connects ASIC buyers and sellers in a secure and transparent environment.

According to Bespaloff, ASIC brokers currently charge high premiums that are taking advantage of the market’s lack of price discovery mechanisms, as he believes that these brokers create information asymmetry by withholding pertinent information.

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However, Bespaloff said that Asic Jungle upholds a number of security features to ensure that transactions happen in a trusted environment, including an emphasis on AML compliance. As the Canada-based company will be serving customers from all over the world, they intend to comply with both local laws and regulations and the compliance laws of the United States.

Thus, Bespaloff assured that there is plenty of demand for second-hand equipment in places with very cheap or free energy sources, as some areas in Canada and Venezuela, although mining equipment becomes progressively less efficient with the passage of time.

Source: Cointelegraph


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Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.
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