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Naturally, a lot of people that are looking for ways to mine cryptocurrency would gravitate towards the “ free” options, but it does have its drawbacks (very slow mining speeds, extra conditions, etc.). There are two options of cloud mining - free and paid.
HOW TO MINE BITCOIN HOW TO
The people (companies) that offer these cloud mining services usually have huge mining facilities with multiple farms (tens or hundreds of rigs stacked and operating together) at their disposal and know perfectly well how to mine cryptocurrency.Ĭloud mining has become so popular mainly because it offers the possibility to participate in the world of cryptocurrencies for people who might not have enough money to buy their rigs or who perhaps simply aren’t interested in owning a rig. This rent lasts for an agreed-upon period, through which all of the earnings that the rig makes (minus the electricity and maintenance costs) are transferred to your cryptocurrency wallet. If you’re looking for crypto mining ways, cloud mining is probably the most popular way to mine cryptocurrencies without having to lift a finger.Ĭloud mining is a process where you pay someone ( most often it’s a big corporation) a specific amount of money and “rent out” their mining machine called a “rig”, and the process of mining itself. I’ll cover the main ones here, and start from the easiest one - cloud mining. There are a few ways you could go about cryptocurrency mining. Now let’s move on to what you came here to see - how to mine cryptocurrency. That is a very short and simple way of defining what is cryptocurrency mining. Many more subtle factors come into play while the mining process is happening, but the general idea is that if your device contributes to the “mining”, you’ll get a share of the spoils. This brings balance to the pool, but it also motivates bigger and stronger machinery usage.
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The more miners want to mine one, a specific mining pool - the tougher the equations become. These tasks are called “ Proof of Work”, and they are designed to create a fair playing field for all the different miners out there.
HOW TO MINE BITCOIN PC
Your PC would perform specific tasks that are required to be able to obtain even the slightest amounts of cryptocurrency. We’ll talk about the specific types of machines later on in the tutorial, but for example’s sake, let’s just say that it’s your own, personal computer and you’re trying to figure out how to mine cryptocurrency. Imagine that you have a machine that mines crypto coins.