Bitcoin mining can be done in the cloud, no mining rig required. Those who perform the mining process are referred to as Bitcoin miners and they’re rewarded for their assistance with a percentage of the transaction fee charged to the Bitcoin user. Mining Bitcoin can be an effective way to earn extra money and many individuals have now become full-time Bitcoin miners. Here are the monero mining rig bitcoin main ways to mine Bitcoin and start earning money.
Once the Bitcoin Miner app is downloaded, users simply need to enter their Bitcoin wallet’s address in the Payout Address settings screen and then press the prominent Start button. That’s all there is to it. The more powerful your device is, the more Bitcoin transactions it will be able to process. Cloud mining contracts usually last for a minimum of a year or so though some can continue indefinitely. The cryptocurrency that’s mined almost always covers the cost of the initial payment.
Genesis Mining is one of the more trustworthy cloud mining companies around. Their founder and CEO has even given a TED Talk about its creation and the early days of Bitcoin mining. ASIC miners are generally quite expensive and sell for several thousand dollars. Running such a device also consumes a lot of electricity so it can take a while, often over a year of continuous mining, to begin earning a profit. The most-popular brand of ASIC miners is Bitmain with their Antminer miners.