What's a cryptocredit?
Cryptocredit is a metric showing the amount of work done by a PC.
Kryptex app earns cryptocredits. Credits are automatically and continually converted into real currency — bitcoins.
Cryptocredits are not stored on your account. Rather, they work as an intermediate currency.
Cryptocredits convert in 3 steps
1. Unconfirmed cryptocredits
Upon mining your PC submits shares for which you are rewarded with cryptocredits. Those await for a confirmation at the pool, which usually takes 1-3 hours. In rare cases, confirmation may delay up to several days.
Credits awaiting confirmation for more than 5-7 days are probably a part of the discarded "orphan block." As the payout for that block is not received, none of the rewards can be distributed between users.
Orphaned blocks are a direct result of the blockchain nature of cryptocurrencies. They happen randomly, and there is no way to affect their probability. We clear such "orphaned" credits every month.
2. Confirmed cryptocredits
Confirmed cryptocredits are ones ready to be converted to bitcoins. Usually, conversion occurs as soon as credit's value reaches 0.00002 BTC.
If cryptomarket goes unstable (i.e. bid–ask spread gets too large, or rates drop dramatically), Kryptex might pause conversion to try to maximize your profit. Thus, credits procession may be delayed a bit. Usually, delays last no longer than a day.
3. BTC available for withdrawal
You can request a payout in bitcoins, dollars, rubles or in the form of the Amazon USA gift-cards. We've covered payout options in the "Withdrawing money from Kryptex" article.
What is the value of a cryptocredit?
Every cryptocredit may cost differently as Kryptex has several algorithms, each with their own rules.
I.e., a GPU could earn 1000 credits with a total value of 0.001BTC. Yet, the same GPU could get the same 0.001BTC for only 10 credits. The first case used algorithm A, while the second — algorithm B. They are different; thus, the credit earnings are mixed. We suggest tracking earnings in BTC.
Earnings history graph may appear confusing since even the same PC could get a different amount of credits on various algorithms. Switch the credits graph to bitcoins to show real earnings. Simply click on "Satoshi" at the top-right corner of the graph.
Why credits are being converted by portions?
Part of the credits is generated by your GPU, the other part by a CPU. Those parts get confirmed independently of one another — one could be already confirmed while another is still being verified.
How to track earnings in $/€/other?
We understand that cryptocredits system may appear puzzling and confusing. We develop a new clear, and transparent interface to substitute the current one. So stay tuned for the updates!
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