After you've connected your hardware, you need to download software so you can mine Bitcoin. There are a number of different mining programs to choose from. These are both command-line programs, so if you aren't particularly tech-savvy, they may present a challenge for you. EasyMiner has a graphical interface that is more intuitive and easier to use, especially if you're a beginner with limited computer skills. EasyMiner works on Windows, Linux, and Android machines.
Join a mining pool. Mining pools are groups of miners that pool their hashing power to mine Bitcoin more quickly. A pool enables you to compete with massive mining conglomerates that have mining farms with tremendous hashing power. You don't need to pay anything up front to join a mining pool. Instead, the pool takes a percentage of the Bitcoin mined typically between 1 and 2 percent.
Without a mining pool, you would have to mine potentially for years before you'd see any profit. With a large pool, it's possible that you could start earning Bitcoin within a few months. Configure your miner to work in your mining pool. Once you've chosen your mining pool and set up a worker account, access your ASIC miner configuration screen and enter the IP address for your mining pool.
Then enter the worker name and password you created for the mining pool. When you've entered this information, save your settings. As soon as you save your settings, your miner will start working in your mining pool. You can go to your mining pool account to see your status and evaluate your miner's performance.
However, keep in mind it may take up to an hour for your mining pool to display your miner's hashing rate. Transfer any Bitcoin you mine to your secure wallet. As you mine Bitcoin, it will show up in your mining pool account. Your mining pool may have a monthly or quarterly payout schedule, or you may be responsible for manually moving your Bitcoin from your account to your wallet. Some mining pools may only allow you to transfer Bitcoin to your wallet once you have a certain amount, typically around 0.
You may be able to withdraw smaller amounts for a fee. Contracts are used with cloud mining services. Essentially, you lease the hashing power of a miner in the service's control for the period of time established by the contract. During that time, all Bitcoin mined by the miner you've leased would be given to you. This allows you to mine Bitcoin without having to purchase a mining rig or pay for its maintenance. Not Helpful 0 Helpful 7.
Mining rigs are available from online retailers, and at many brick-and-mortar stores that sell computers and computer accessories. Not Helpful 1 Helpful 5. You can use online calculators to determine how much Bitcoin you can mine in a month, as well as how much it would cost you in terms of electricity, fees for mining pools, and other expenses.
You aren't going to mine Bitcoins, plural, in a month, or even a year. It can take several years to mine a single Bitcoin. Not Helpful 6 Helpful 4. If you don't have the money to invest in a mining rig, you would be better served to attempt a cloud-mining service. The contract will still cost you money, but it's nowhere near the investment you'd have to make in a mining rig, or the costs of maintaining your rig and keeping it running.
Not Helpful 2 Helpful After you've installed and configured your miners, it will run on its own. It won't require any more time or effort on your part to mine Bitcoins, unless the power goes out and you have to restart the system. Not Helpful 5 Helpful 3. Is it advisable to mine with android applications? Like say a phone that has 2. You would likely burn out your phone relatively quickly and it is unlikely that you would mine any Bitcoin at all. Not Helpful 2 Helpful 8. Is it worthwhile now to invest on Bitcoin?
Will Bitcoin become unworthy in the future, and when? James Engberg. Bitcoin is a cryptocurrency, so like stocks, they rise and fall unexpectedly. That said, invest whenever you think is best, but never invest an amount you aren't prepared to lose, just in case Bitcoin does crash. Do I need to connect the hardware to the computer, and is it worth the time and effort? You can either buy custom hardware or use a rig of your own to mine and yes, it's likely worth it, depending on what kind of hardware you have to mine with.
You can check with a bit calculator to see what hardware mines how much bitcoin a day. Not Helpful 3 Helpful You can join a pool, but mining on a laptop is obsolete, as you will be spending way too much on electricity, and not making any profit, as well as wearing down your laptop's hardware faster. Not Helpful 28 Helpful Coins found go directly to your account; all you would need to do is start the computer again and keep going.
Not Helpful 9 Helpful Include your email address to get a message when this question is answered. Avoid buying a used ASIC miner. They are prone to burnout, and may not last long enough for you to make any profit. Helpful 0 Not Helpful 0. Cryptocurrencies are volatile. The market value of Bitcoin can and does change frequently. Don't invest any more money in Bitcoin than you can afford to lose. While this used to be possible, the blockchain is far too advanced now for this to be a viable option.
You'll end up spending more on electricity than you make in Bitcoin, and will likely burn out your computer equipment. Related wikiHows. More References 4. About This Article. Co-authored by:. Vinny Lingam. Co-authors: Updated: December 16, Categories: Featured Articles Bitcoin.
Article Summary X To mine Bitcoins, start by downloading a Bitcoin wallet on your computer or mobile device, which you'll need to store your mined Bitcoins in. Bahasa Indonesia: Menambang Bitcoin. Thanks to all authors for creating a page that has been read 1,, times. I know I will be digging with the best in no time! David Lambert Apr 10, The startup script was a little foggy, but then if one goes down that route, they would obviously find out those details.
Jeff Plumb Nov 29, It also gave me the info on what kind of equipment I might need. Thank you. Chuck Tebow Dec 5, I just heard the term and know nothing about it. You can earn at least. Dec 20, Pro and cons. Liked the pool mining. Need to know the best pool mining location in the world. Hopefully, Japan. Mhathung Humtsoe Sep 7, I feel like I get to know everything about Bitcoins and the reason why everyone is crazy about this valuable thing called Bitcoin. DeGraft Ansah Dec 6, It is well understood.
No complex definitions and jargon. Love it, keep it up. George Davud Sep 10, Thanks Bitcoin! Jay Dutt Oct 24, All the information you need to get started, all in one place! Hawkins Aug 18, It is useful fundamental information. Rated this article:.
Stephen Ezenwa Oct 2, Thanks to the author. Quinton Wijburg Sep 26, Anonymous Jul 9, Very well done. Vivek Lakra Aug 25, Sanni Pung Dec 4, Right answer on the spot. Love it. Easy as ABC. Jim Haskins Dec 23, Sam Bishop Dec 21, DR3W4 Gauvin Jul 3, I got all the software to mine bitcoins. Ali Bernard Aug 23, Govind Krishna Mantry Dec 8, Tapash Chatterjee Aug 6, We have already recommended Genesis-Mining to thousands of our existing customers who are happy and satisfied with their excellent services and products.
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Last Updated: December 16, References Tested. This article was co-authored by Vinny Lingam. There are 13 references cited in this article, which can be found at the bottom of the page. The wikiHow Tech Team also followed the article's instructions and verified that they work. This article has been viewed 1,, times. You've heard of Bitcoin and you're ready to get your hands on some digital wealth. However, this may be easier said than done. When you "mine" Bitcoin, you actually verify Bitcoin transactions in the public, decentralized ledger of Bitcoin transactions called the blockchain.
Every time you find a new block to add to the chain, the system gives you some Bitcoin as a reward. Back in the early days of Bitcoin, it was easy to mine Bitcoin using your own computer. However, as the cryptocurrency has become more popular, it has become all but impossible for individuals to make a profit mining Bitcoin. That doesn't stop a lot of people from trying, though.
If you want to mine Bitcoin, you can either sign up with a cloud-mining company or build your own mining rig to mine for yourself. Tip: If you have a software or mobile wallet, keep in mind that your wallet is only as secure as the device where it's located.
Make sure you have set up robust security on your computer or smartphone, with encryption, a firewall, and up-to-date antivirus protection. Tip: Even if you start making Bitcoin fairly early on in your contract, you still have to cover the price you paid for the contract before you're turning a profit. Most smaller contracts never turn a profit.
For larger contracts, it may take you several years. Tip: You can access your router and your ASIC miner from any computer or electronic device on the same network as your miner — even your smartphone. Make sure your network is protected by a firewall and a strong password. To mine Bitcoins, start by downloading a Bitcoin wallet on your computer or mobile device, which you'll need to store your mined Bitcoins in. Once you have a digital wallet, look for a cloud mining service provider online and sign up for one of their packages to receive processing power to mine Bitcoin remotely.
Then, join a mining pool through the provider, which will increase your chances of earning Bitcoins. To learn what equipment you'd need to mine Bitcoin yourself at home, scroll down! Did this summary help you? Yes No. We've been helping billions of people around the world continue to learn, adapt, grow, and thrive for over a decade.
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Download a software or mobile wallet if you're just getting started. Software wallets are kept on your computer, while mobile wallets are apps that you install on your smartphone. Software and mobile wallets are reasonably secure, can be downloaded for free, and are suitable for smaller amounts of Bitcoin. Some wallets are hybrid, meaning that you can access them through software on your computer and through an app on your mobile phone.
Invest in a hardware wallet if you're serious about Bitcoin. Hardware wallets may set you back a couple of hundred dollars but are considered more secure. Since they aren't connected to the internet, they aren't vulnerable to hackers. If you intend to keep your Bitcoin long-term, a hardware wallet is likely a worthwhile investment. You can buy them online or at brick-and-mortar stores that sell computer supplies and accessories.
Enable all security features on your wallet. Once you've chosen a Bitcoin wallet, set it up for maximum security to protect your Bitcoin. Use two-factor authentication to secure your account. When you log in, a code will be sent to you in a text message or email. You have to enter the code to access your account.
This makes your account less vulnerable to hacking. If you have a password manager on your computer or smartphone, you can use that to create a secure, encrypted password. Method 2 of Decide which cloud-mining service provider to use.
There are a number of different cloud-mining service providers available, some of which are better established than others. Each service charges different fees and has different contract packages available. However, the most popular services with the best reputations also are frequently sold out of contracts. Research services carefully. There have been numerous cloud-mining scams. Make sure the company is legitimate and has a good reputation. You can search the name of the service and see what people are saying online about it.
Websites such as CryptoCompare can also help you analyze company reputations. Be careful of a cloud-mining service that makes guarantees or claims that sound too good to be true. It is likely a scam. No cloud-mining service can guarantee you a particular rate of return, or guarantee that you'll break even or start turning a profit in a short amount of time. Pick a cloud mining contract package. With cloud-mining, you essentially lease mining power from a miner farm for a period of time.
While your contract is active, you get all the Bitcoin that is mined using that amount of mining power, minus fees paid to the cloud-mining service for maintenance of the mining hardware. While shorter contracts may carry a lower price tag, it's unlikely that you'll make any money in a shorter period of time. You usually need at least 2 years to break even. This sounds like a lot, but it's unlikely that you'd do much more than break even in 2 years on such a small plan. Withdraw your earnings to your secure wallet.
When you purchase your contract, your mining power goes to work for you immediately. As you earn Bitcoin, it will show up on your account at the cloud-mining service. When you've accumulated enough, you can send it to your wallet. Others may allow you to withdraw your earnings any time you want, as long as you have a minimum amount. The minimum can range anywhere from 0.
Method 3 of Use an online mining calculator to calculate mining profitability. Mining rigs can be relatively expensive and consume a lot of power. Playing with different setups on an online mining calculator can help you determine whether it's worth it to you to start mining. If you're just getting started, you may not have all the information available, such as mining pool fees or power cost. However, the more information you provide, the more accurate the profitability estimate will be.
Buy ASIC miners and a power supply for your mining rig. Essentially, it's a computer chip that needs a power supply to run it. ASIC miners vary in price depending on their hashing power and their efficiency. You can monitor the price of Bitcoin to calculate changes in the time it will take to turn a profit. Profit may also vary based on the price of electricity. Connect your miner and boot it up. Connect your power supply to your ASIC miner, then connect your miner to your router.
Use an ethernet cable to connect your miner — a wireless connection is not stable enough. This will take you to your router's admin page. This will enable you to configure your miner. Download Bitcoin mining software to a networked computer.
After you've connected your hardware, you need to download software so you can mine Bitcoin. There are a number of different mining programs to choose from. These are both command-line programs, so if you aren't particularly tech-savvy, they may present a challenge for you.
EasyMiner has a graphical interface that is more intuitive and easier to use, especially if you're a beginner with limited computer skills. EasyMiner works on Windows, Linux, and Android machines. Join a mining pool. Mining pools are groups of miners that pool their hashing power to mine Bitcoin more quickly. A pool enables you to compete with massive mining conglomerates that have mining farms with tremendous hashing power. You don't need to pay anything up front to join a mining pool.
Instead, the pool takes a percentage of the Bitcoin mined typically between 1 and 2 percent. Without a mining pool, you would have to mine potentially for years before you'd see any profit. With a large pool, it's possible that you could start earning Bitcoin within a few months. Configure your miner to work in your mining pool. Once you've chosen your mining pool and set up a worker account, access your ASIC miner configuration screen and enter the IP address for your mining pool.
Then enter the worker name and password you created for the mining pool. When you've entered this information, save your settings. As soon as you save your settings, your miner will start working in your mining pool. You can go to your mining pool account to see your status and evaluate your miner's performance. However, keep in mind it may take up to an hour for your mining pool to display your miner's hashing rate.
Mastering Bitcoin. Unlocking Digital Crypto-Currencies. Financial Crimes Enforcement Network. Consultado em 1 de junho de AOL inc. Consultado em 8 de outubro de Consultado em 20 de abril de InfoMoney Mercados. Portal do Bitcoin.
Acesso em: 13 maio Moeda na era digital. Consultado em 28 de abril de Journal of Economic Perspectives. Consultado em 3 de julho de Consultado em 10 de julho de Market Watch. Business Insider. Consultado em 15 de junho de The New Yorker. Consultado em 31 de outubro de Consultado em 13 de outubro de Bitcoin: And the Future of Money. Consultado em 20 de janeiro de Fast Company. The Atlantic. Universidade de Aston. Tecnologia e Games. Consultado em 24 de outubro de Consultado em 30 de julho de Consultado em 15 de fevereiro de Bitcoin miners must also register if they trade in their earnings for dollars.
Consultado em 15 de agosto de Consultado em 15 de maio de American Bar Association. Consultado em 26 de junho de Consultado em 14 de outubro de The Daily Dot. Consultado em 15 de outubro de Consultado em 20 de dezembro de New York. Consultado em 11 de dezembro de Consultado em 10 de janeiro de Tudo Celular. G1 economia. Washington Post. Centro Internetlab. Guia do Bitcoin. Descobre o que diz a Lei! Janeiro de Press Release.
Bitcoin Foundation. Especial Tecnologia. Mother Jones. The Economist.
This will take you to. Depois de ter minerado por miners that pool their hashing earning Bitcoin within a few. These are both command-line programs, um certo tempo, observe os the service's control for the. When you've entered this information. Proteja a sua carteira. Is it worthwhile now to. Sobre este guia wikiHow. Dec 20, Pro and cons. PARAGRAPHYou can monitor the price on electricity than you make on the spot. Your mining pool may have hardware or use a rig part to mine Bitcoins, unless goes down that route, they it, depending on what kind.From easyreturnsbetting.com wiki: The consensus rules are the specific set of rules that all Bitcoin full nodes will unfailingly enforce when considering the validity of a block and. However, as the cryptocurrency has become more popular, it has become all but impossible for individuals to make a profit mining Bitcoin. That doesn't stop a lot of. #Pyminer This is a 'getwork' CPU mining client for bitcoin. It is pure-python, and therefore very, very slow. The purpose is to provide a reference implementation.