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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, Punit Chaturvedi Mar 18, Madhi Varman Sep 23, Lindelani Mnisi Aug 15, Kolamathy Dec 24, Lionel K. Jul 26, Stanley Kavwam Nov 8, Shk Skj Sep 11, Jenn Cardarelli Jun 30, More reader stories Hide reader stories.
Follow Us. Get all the best how-tos! X Help us do more We've been helping billions of people around the world continue to learn, adapt, grow, and thrive for over a decade. Today, you can purchase most hardware on Amazon. You also may want to check the bitcoin charts. How To Start Bitcoin Mining To begin mining bitcoins , you'll need to acquire bitcoin mining hardware.
In the early days of bitcoin, it was possible to mine with your computer CPU or high speed video processor card. Today that's no longer possible. Custom Bitcoin ASIC chips offer performance up to x the capability of older systems have come to dominate the Bitcoin mining industry.
Bitcoin mining with anything less will consume more in electricity than you are likely to earn. It's essential to mine bitcoins with the best bitcoin mining hardware built specifically for that purpose. Several companies such as Avalon offer excellent systems built specifically for bitcoin mining. This greatly simplifies the process but increases risk because you do not control the actual physical hardware.
Being listed in this section is NOT an endorsement of these services. There have been a tremendous amount of Bitcoin cloud mining scams. Genesis Mining offers three Bitcoin cloud mining plans that are reasonably priced. Zcash mining contracts are also available. Hashing 24 Review : Hashing24 has been involved with Bitcoin mining since They have facilities in Iceland and Georgia.
Minex Review : Minex is an innovative aggregator of blockchain projects presented in an economic simulation game format. Users purchase Cloudpacks which can then be used to build an index from pre-picked sets of cloud mining farms, lotteries, casinos, real-world markets and much more.
Minergate Review: Offers both pool and merged mining and cloud mining services for Bitcoin. Hashnest Review : Hashnest is operated by Bitmain, the producer of the Antminer line of Bitcoin miners. HashNest currently has over Antminer S7s for rent. You can view the most up-to-date pricing and availability on Hashnest's website.
NiceHash Review: NiceHash is unique in that it uses an orderbook to match mining contract buyers and sellers. Check its website for up-to-date prices. Eobot claims customers can break even in 14 months. Some miners available for rent include AntMiner S4s and S5s. Currently, based on 1 price per hash and 2 electrical efficiency the best Bitcoin miner options are:. Once you've received your bitcoin mining hardware, you'll need to download a special program used for Bitcoin mining.
There are many programs out there that can be used for Bitcoin mining, but the two most popular are CGminer and BFGminer which are command line programs. You may want to learn more detailed information on the best bitcoin mining software. Step 3 - Join a Bitcoin Mining Pool Once you're ready to mine bitcoins then we recommend joining a Bitcoin mining pool.
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