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Binance introduces merged mining for Fractal Bitcoin, allowing users to mine Bitcoin and earn FB rewards with specific conditions.
Key Notes
Binance introduces merged mining for Fractal Bitcoin, allowing users to earn FB rewards while mining Bitcoin.Rewards are based on the PPLNS payout model, with a minimum payout of 0.1 FB.Users must link an external wallet and set up a valid FB address to receive rewards.Binance has added a new feature on Binance Pool that supports merged mining for Fractal Bitcoin. This allows its users to mine Bitcoin BTC $90 495 24h volatility: 0.1% Market cap: $1.79 T Vol. 24h: $66.07 B and earn rewards in Fractal Bitcoin (FB), a system that further boosts the earning potential of Binance users.
The exchange announced in a blog post that starting today, November 18, users with verified Binance accounts can access this service by registering for a Binance Pool account. Afterward, participants can link an external Fractal Bitcoin wallet to their Binance Pool account to receive FB rewards. The team provides detailed guides to simplify the setup process, covering everything from mining Bitcoin to configuring wallet addresses.
Although Fractal Bitcoin is not tradable on Binance.com, the platform emphasizes that the new mining feature does not guarantee a future listing. Binance further explained that Fractal Bitcoin operates on the PPLNS (Pay Per Last N Shares) payout model with a minimum payout of 0.1 FB, meaning miners are rewarded based on the number of shares they have contributed. Binance stated:
“Fractal Bitcoin (FB) is not currently listed (tradable) on Binance.com. The launch of Fractal Bitcoin (FB) mining service on Binance Pool does not guarantee a token listing on Binance.com. Fractal Bitcoin (FB) uses a PPLNS payout model with a minimum payout of 0.1 Fractal Bitcoin (FB).”
The exchange emphasized that users must set up a valid FB address to receive their earnings, as rewards cannot be credited without a properly configured payout address. Additionally, Binance cautioned that if a user’s Fractal Bitcoin balance falls below the minimum threshold of 0.1 FB, the earnings will remain in their account until the threshold is met.
Terms and Conditions for Participants and VIP Opportunities
Furthermore, the Binance team has put in place some terms and conditions users need to adhere to, and one of them is that participants must provide a third-party address in their Binance Pool account to receive Fractal Bitcoin rewards. The exchange further warned that it has the authority to disqualify any participants found tampering with Binance program code or using other software to interfere with how Binance’s system operates. The team said:
“Users must provide a valid third-party address in their Binance Pool account to receive Fractal Bitcoin (FB) rewards. Binance reserves the right to disqualify any participants who tamper with Binance program code, or interfere with the operation of Binance program code with other software.”
For high-performing miners, Binance offers VIP status, which unlocks exclusive benefits. These rewards are available to users who meet the required hashrate thresholds, and interested parties can apply via email to Binance Pool’s support team.
This reward system is a good step forward for miners aiming to optimize their efforts. It combines Bitcoin’s stability with the speculative potential of Fractal Bitcoin.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
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Temitope is a writer with more than four years of experience writing across various niches. He has a special interest in the fintech and blockchain spaces and enjoy writing articles in those areas. He holds bachelor's and master's degrees in linguistics. When not writing, he trades forex and plays video games.
