Asic Jungle has rolled out a beta variant of what it claims to be “the first-ever mining hardware marketplace” for crypto mining equipment. In this regard, the company’s CEO Artem Bespaloff stated that he has developed a trustworthy platform for used mining hardware that runs without any intermediate:
“[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.”
The company’s way out to these issues is an online market place connecting ASIC buyers and sellers in a safe and open ecosystem.
As per Bespaloff, ASIC brokers presently charge top premiums that are gaining benefits of the market’s dearth of price discovery system.
He trusts that these brokers develop data asymmetry by retaining relevant data.
Bespaloff stated that ASIC Jungle provides several security features to guarantee that dealings take place in a trustworthy ecosystem, including a stress on AML conformity.
As the Canada headquartered enterprise will serve clients across the globe, they aim to fulfill with both domestic rules and regulations and the compliance rules of the US.
Even though mining hardware is slowly transforming less capable with the advent of time, Bespaloff guaranteed that there is a huge demand for second hand hardware in regions with extremely cost effective or free energy sources such as some regions in Venezuela and Canada, although the citizens of the last one may be barred from taking part in order to conform with the US sanctions.
Of late, both Bitcoin and Ethereum (ETH) has experienced historical high increase in hashrate, implying there will be no dearth of interest in mining hardware in the short-term future.
