Mining crypto is a lot like mining in real life. Just like any other raw material the more you mine the rarer it gets and the deeper you have to mine. This works the same for cryptocurrencies. The more a certain coin is getting mined he harder it is to mine the coin. Take bitcoin for instance, there are 21 million bitcoins available and all of them have to be mined. The more bitcoins mined the longer it takes to mine another one. Because bitcoins aren’t found underground but mined using a computer everybody is able to mine them. When mining a bitcoin the computer is solving difficult mathematic puzzles and gets rewarded in bitcoin.
Now that you know what mining is it is time to decide how you are going to mine. There are a couple different ways you can mine cryptocurrency. You can choose to join a mining pool, start cloud mining or start your own mine the choice is yours.
Want to start mining but don’t have the capital or experience to set up your own crypto mine? Don’t worry you are not the alone there are lots of people who want to try out crypto mining but don’t want to invest a lot of money. For this reason, they invented mining pools. A mining pool exists of a group of people who all want to mine crypto and for that reason buy some space and equipment to start mining. Most of these mining pools are stationed in China. Mining pools are very popular with starting mining but once people decide to continue with mining they usually buy their ow equipment. Because most miners think that it is a big disadvantage that they are not in charge of your own equipment.
There are a lot of different mining pools around the world but some stand out above all. Here is a selection of the world’s most popular mining pools.
A whole different way of mining you can even question if you can call it mining because cloud mining isn’t solving math problems and it doesn’t take an expansive mining computer because everybody can participate in cloud mining. Cloud mining isn’t mining for cryptocurrencies but instead keeping track of previous transactions. You can buy cloud mining contracts that you can use on your laptop or computer and let it do all the work. In return for keeping track and monitor the transactions you get rewarded in crypto.
Cloud mining has become big business but just like the upcoming mining pools some just stand out. These businesses sold the most cloud mining contracts.
Setting up your own mine.
Another option is to set up your own mine. This isn’t the most popular option with beginning traders because it takes a lot of experience and money. In case you do decide to start your own crypto mine, it is a smart idea to take a look at Bitmain. Bitmain has a large number of different miners to choose from this way you will get a good impression at the price of the mining computers.
When you think of mining, most people think of mining Bitcoins but is this always the most profitable to mine? The answer is no, there are almost always better coins that you can mine which are more profitable but these coins often change place the question is which coin is the most at the top? A coin that most of the time stands above the bitcoin and very stable is Ethereum. Ethereum has after bitcoin the largest share in the entire crypto market and is a stable currency for that reason it is also often used by traders. Ethereum has a great team behind it which makes sure that the price of Ethereum is stable and will remain stable. So if you have interests in mining cryptocurrency it is perhaps a good plan to start with Bitcoin and grow from there.
Create your own crypto mine with the Crypto2day mining guide. Join a mining pool, buy a cloud mining contract or start your own mine from scratch. The choice is yours become a miner of the future, start today.