Is CryptoTab Worth It?
Originally published at https://branditechture.com on September 13, 2021.
CryptoTab is a modified version of the popular Chrome Browser. The browser is also powered by Chromium — which is the same engine that Google Chrome Browsers run on. The Browser looks and feels almost identical to the famous Chrome Browser. In fact, the same Chrome extensions can be installed on the CryptoTab Browser.
As of the time of this writing, The software (i.e. CryptoTab Browser) is available for Windows and macOS. It is also available for iOS and Android devices.
Click HERE to Visit CryptoTab’s Download Page.
Why was CryptoTab Developed?
Ever since the invention of Blockchain Technology, and the creation of the first Cryptocurrency (Bitcoin), a special set of people known as miners has remained crucial for the authentication and addition of new blocks to the blockchains. And the key motivator of these miners has always been fat rewards (given in form of cryptocurrencies) whenever they successfully mine a block first. However, mining blocks for a blockchain is no small task.
Due to the cryptographic nature of blockchains — which requires machines to perform very complicated and difficult computations — it required very powerful machines. But as the number of miners in the networks increased, the probability of being the first to validate a block became increasingly difficult, which meant individual miners began to find it next to impossible to mine blocks — especially those who do not have powerful machines. But then CryptoTab creators came up with an ingenious idea.
By integrating a special Proof of Work algorithm called CryptoNight into the CryptoTab Browser, they were able to aggregate the resources (i.e. Processing Power) of several machines (Smart Phones, Personal Computers, Tablets, etc.) which had the Browser installed to mine Monero Privacy Coins and reward each individual who agreed to contribute to the success by installing the CryptoTab Browser. Though the Monero Privacy Coins are first converted to Bitcoins before being paid to the miners (i.e. Users of CryptoTab Browser).
It was essentially a way to enable anyone, with any device to mine Cryptocurrencies — cheaply…at least, that was the message that was pushed by the creators of CrytpoTab.
The CryptoTab browsers are supposed to enable less powerful machines to mine Cryptocurrencies without slowing down their operation or performance. Though, the Miner also has the option to increase the mining speed, by increasing the number of resources allocated to the Browser (although doing this could slowdown devices, and drain batteries quickly).
Is CryptoTab Browser Safe?
CryptoTab comes in two variants; The free (ordinary) browser and the paid (Pro) version (which costs about $2.50 as of the time of this writing). Being available in the Google PlayStore, and Apple Store, the App is most likely free from viruses and isn’t particularly harmful to devices. Though, you should exercise caution when downloading the software from any third-party website, in order not to download an infected software
Also Read: Is NiceHash Worth It?
Normally, users of the CryptoTab browser don’t have to do anything out of the ordinary. They would simply have to install the browser, and earn Bitcoins for using the browser (to surf the internet, stream videos, or just let it run in the background…).
Plus, users can decide to leverage the Affiliate program CryptoTab provides to multiply their earnings. In this case, all a user has to do is invite other people to use the CryptoTab browser. From then, a certain percent of the coins mined by their referrals (up to 10 steps deep) would also be paid to them — providing a sort of passive income for the person.
Hence, on paper, the perks of using the CryptoTab browser includes
- Easy, and comfortable user interface: Since the User Interface is similar to that of the Chrome browser, users (who already enjoy using Chrome) would not find it difficult to switch to the new browser.
- It provides cheap mining opportunities. This is because users do not have to pay for powerful machines or set up mining Rigs in other to mine cryptocurrencies.
- The mining process doesn’t slow down the devices either: According to the creators, the browser only makes use of “unused” resources in the device.
- It is also easy to set up: The heavy lifting — like, the mining algorithms, setup, etc. — has already been taken care of. All a user needs to do is register an account, and activate the mining. Once they generate sufficient funds (which is at least 0.00001 BTC), they can easily transfer them to their wallet.
- A Large Community: The official website of CryptoTab states that there are more than 25 million users around the globe. And considering the browser has been around for a while, you can easily find answers to a lot of your questions easily on the internet.
- Use Of Bitcoins For Payment: CryptoTab pays in a popular cryptocurrency — i.e. Bitcoin — making it easy for users to withdraw the coins into their wallets and easily make use of it without needing to convert it first
- Referral/Affiliate Program: The referral program provides users the possibility of earning passively. The referral program is also legal, and well structured.
However, it is not only great reviews with this App.
One notorious complaint is that the earning potentials are too small, and takes way too long. In essence, although it provides easy, stress-free earrings, it won’t necessarily make you rich. To counter this limitation, there are options to buy Cloud Boosts packs, which then increase the mining speeds. And some others take to installing the CryptoTab across multiple devices at once in order to multiply their earnings.
From the reviews online, and the few people I’ve come in contact with, CryptoTab really does payout; however, the people crushing it on the platform are those who are great at recruiting new users. In fact, this very option is pushed so much so that you are promised bonuses such as a free 2X boost (in mining speed) if you refer 2 users.
Does CryptoTab Really Mine Bitcoin?
When I took a deeper look into the browser, I realized that it didn’t really seem to use the device resources for the mining process.
I figured this out by juxtaposing two distinct smartphones. When I did this, I noticed that both smartphones with very different specs (i.e. one with very high specs, and another with very low specs) all mined at relatively the same speed.
Furthermore, even when you turn off the internet connection, the mining just continues — as though the whole animation and counting was just a smokescreen, misleading us into believing something is really happening.
I also noticed that the mining speed seems to increase when you start referring more and more people.
Hence, from observation, I realized that;
- It was those who were actively recruiting others — and earning commissions in the process — that was making the most money from CryptoTab (not those with powerful devices)
- CryptoTab also makes a lot of money selling Cloud boosts, to those who wish to mine Bitcoin, but are not great at recruiting. So if you’re asking, “how does CryptoTab make money?” there is your answer. Though, the probability of breaking even (i.e. making back your money) from using the Cloud Boosts alone might be precarious.
- The browser tries to get as much User Information as possible — demanding that they sign up with their Google account, and requests more and more permission from the user’s Google account, which they’d have to agree to, or forfeit using the service. And, in case you don’t know…
- Your personal data (after being collected) could be used or sold — this is how those annoying Ads manage to follow you around the internet. Though I’m not saying they sell your information, you should know that they do collect it, and businesses seldom collect what they don’t use.
With all these observations, one cannot say that CryptoTab is a scam, a Ponzi Scheme, or a Pyramid scheme; but it really does adopt an MLM structure. And whilst most MLM (i.e. Multi-Level Marketing) is not illegal, one should always proceed with caution — because they often hide more work than they present upfront.
That said, you can start earning Bitcoins from CryptoTab, but you should be ready to do more than just downloading and installing the CryptoTab browser.