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Why I Switched From Binance To Cronos Miners
a month ago
3 min read

Why I Switched From Binance To Cronos Miners

It seems like the glorious era of BNB Miners or general miners on the Binance Smart Chain is over. Here’s why I’m done with Binance miners and the reason why I switched to Cronos.

I have been using crypto miners for more than 12 months now. And I’m really thankful for the return many of the miners generated. Especially the investments I made in BNB Miner and Baked Beans paid back tenfold and more. Actually, these are the only two miners I’m still using on the Binance Smart Chain.

Moreover, I promised myself never to invest in any Binance miner again. The reason is apparent: The number of scams has grown exponentially over the last months.

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Many projects have pulled the rug after a couple of weeks or have been changing the contract constantly. Baked Cats is undoubtedly the most prominent rug pull of the last weeks. However, StableBNB, BNBSeed, or Bored Ape Fun Club are examples of previous week’s rug pulls.

At the same time, the amount of new miners on the Binance Smart Chain is growing exponentially. However, when looking at the project, it’s evident that the vast majority isn’t designed to operate in the long run.

Therefore, I’m pretty sure we will see many additional rugs pulls soon: BUSDSeed and USDTSeed are just two examples with a very high probability.

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Are Cronos Miners an Alternative?

Frankly speaking, I wasn’t the biggest fan of the Cronos network. However, I have to admit that the entire network is moving at a fast pace and is creating many exciting projects.

Of course, there are also mining projects available on the CRONOS network. However, I have the impression that the amount of scams is much lower (at least at the moment).

Only a few miners are available
When searching for mining projects on CRONOS, you will find several projects. Moreover, when you exclude the projects with less than $1,000 TVL, you end up with four to five projects. However,

I like that fact. It reminds me of the early Binance days when only Baked Beans and BNB Miner were available. Personally, I have the feeling that the amount of scam is growing with the success of the early projects.

Long-running miners
Especially the bigger miners are running for 70 days and more. It doesn’t sound very much, but this looks super sustainable compared to rug pulls after ten days —as seen on the Binance network.

The value of most miners is growing
When looking at the contract of the different miners, one can see that most of the (reasonable) miners are constantly growing—although slow, they are growing.

Cronos reminds me of the early Binance days

For me, it looks like that CRONOS miners are currently growing and getting more traction. As mentioned, personally, I have the feeling that the scam potential of most of the reasonable miners is low (at the moment).

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What I’m doing

As initially mentioned, I will stop trying and investing in Binance miners. Of course, I will continue using BNB Miner and Baked Beans. However, besides that, I will shift my focus to CRONOS — and particularly on these three projects:

Check them out!