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What risks should be paid attention to when buying and selling miners?

At present, various miners such as Bitcoin miners and ETH miners are already in short supply. As a result, the demand for virtual currency miners and transactions is scorching, but the problems and disputes are also constant.

So during the legal transaction of this miner, what risks should pay attention to?

The trading of miners is legal and effective

The court clearly stated that the miner sales contract is legal and valid, so the legality and validity of the miner sales have been confirmed by the court’s practical judgment.

Of course, the miner here refers to the miner that can be widely recognized, such as Antminer, Innosilicon, Whatsminer, etc., not all miners trading is legal and practical.

Of course, when buying a miner, the brand, hash rate, power consumption, factory serial number, etc. of the miner must be clear. It is closely related to whether there is protection, how much it costs, how many mines can be mined, and how much can be earned.

Try to use written contracts for miner purchases

The current currency price market is scorching, and the miners are in short supply. Many of them are futures.

However, the buyers and sellers must sign the contract in written form as much as possible to make detailed agreements to prevent failure to receive the miner equipment after payment or the failure to receive the payment after delivery miners, failing rights protection.

Use legal currency as far as possible for the payment of both parties

Many friends in the mining circle use virtual currency to pay for the miner, but this method has certain risks. Once a dispute occurs, it is difficult to file a lawsuit in court. After all, it is easier to file a case with legal tender as a means of payment.

Filing a case is the first step in protecting rights. If none of the cases can be filed, there is no possibility of winning the lawsuit later.

The payee of the miner needs to identify the identity of the payer

When the payment for the miner is delivered, the payee should understand and be familiar with the legality of the source of funds of the payer, and conduct a review to prevent the receipt of black money.

At the same time, make a detailed agreement in the contract to prevent the other party from receiving the payment—issues such as account freezing and preventing disputes and loss of money.

Agree on the liability for breach of contract

In late delivery or late payment, an explicit agreement should be made on the liability for breach of contract. The court may not support the use of IOUs or receipts in place of compensation for breach of contract.

The problem is ever-changing, and the actual risks are more. In short, the more the market is hot, the more you must pay attention to preventing risks when the price of miners soars because a significant risk may cause your hard-earned profits to be lost.