Asic Jungle has launched a trial version of what it calls the “first mining market” for cryptocurrency mining. The company’s CEO, Artem Bespalov, told Cointelegraph that he has created a reliable platform for used mining equipment that works without intermediaries:

“[This] is the first and only online marketplace where buyers can interact directly with sellers through the platform and they don’t have to use any brokerage or Telegram channels (I call them” Telegram “channels) because everything is going on there. And we decided to create this ecosystem where Buyers and sellers trade together.

Registry test. Source: Asic Jungle.
The company’s solution to these problems is a two-way market that connects ASIC buyers and sellers in a safe and transparent environment. Bespaloff said ASIC brokers are currently asking for high premiums, which are taking advantage of the market’s lack of pricing mechanisms. He believes that these intermediaries create information asymmetry by masking relevant information.

Bespalov said Asic Jungle supports a number of security features to ensure transactions are conducted in a secure environment, including a focus on anti-money laundering compliance. Since the Canadian company will serve clients from all over the world, it intends to comply with both local and United States laws and regulations.

Although mining equipment is gradually becoming less efficient over time, Bisbalov emphasized that there is strong demand for equipment used in places with very cheap or free energy sources, for example, in parts of Canada and Venezuela, although it may be Excluding residents of the latter from participating in the attempt to comply with the US sanctions.

Both Bitcoin and Ethereum (ETH) have recently seen record increases in speed, indicating that there will be no shortage of interest in mining hardware in the near future.

Source: CoinTelegraph