Earn Bitcoins Guide
BITCOIN MINING
- Bitcoin Mining is the use of computer hardware to earn Bitcoins.
- Bitcoin Mining is accomplished by running SHA256 double round hash verification processes in order to validate Bitcoin transactions and provide the requisite security for the public ledger of the Bitcoin network
- Hashes per second is the speed at which you mine Bitcoins is measured
Here's a video that may give you more details about Bitcoin Mining
Here's How you typically Start Bitcoin Mining
1. Buy a Bitcoin Mining Hardware
Based on prices per hash and Electrical efficiency, here are some of the commonly used Bitcoin Mining Hardwares:
As you can see from above, purchasing a Bitcoin Mining Hardware can be costly.
2. Download a Bitcoin Mining Software
Once you have a Bitcoin Mining Hardware, download the software for you to use it
Some of the commonly used programs are:
a. CGMiner
b. BFGMiner
c. EasyMiner
You can know more about softwares and programs that you can use here.
3. Join a Bitcoin Mining Pool
These are groups of Bitcoin miners working together to solve a block and share in its rewards.
Without a Bitcoin Mining Pool, you may never mine Bitcoins for more than a year.
Here are commonly used Bitcoin Mining Pools
4. Set up a Bitcoin Wallet
Bitcoins are sent to your Bitcoin wallet by using a unique address that only belongs to you
You can check out how to create a Bitcoin Wallet here.
Happy Mining! :)
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