Cryptocurrency mining has become a natural partner in today’s supply chain. In crypto mining, ASIC chips play a pivotal role in the process. The mining industry is huge, with people worldwide seeking to extract profit from it. To join the bandwagon, we will tell you how you can make use of your computer as a crypto mining machine.
Through mining, you can earn cryptocurrency without having to pour down your hard-earned money for it. To your interest, mining the most popular currency Bitcoin can get you bitcoin rewards after completing the mining process successfully. This means, you can capitalize via crypto mining, and to top it up with more benefits, you can even trade bitcoins to earn big money.
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Coming back to the basics, when we talk about crypto mining, it started with ASIC mining solely reserved for those with engineering degrees. Nowadays, with advances in technology and hardware processing power that are only growing exponentially, almost anyone can get involved with cryptocurrency mining.
Cryptocurrency mining is a virtual process requiring specialized hardware and software to mine a cryptocurrency.Â
The mining process involves using algorithms that reward individuals or organizations with coins when specific requirements are met. Cryptocurrency mining depends on how much users can use computing power to solve cryptographic problems, producing more currency.
Cryptocurrency miners continuously monitor each other’s work and compete against each other to enhance their earnings. There is a massive misconception in the cryptocurrency mining ecosystem that you must invest in a dedicated ASIC or GPU mining rig to mine a cryptocurrency. However, you can even turn your idle computer into a mining machine. Let’s discuss how you can turn your idle computer into a mining machine.
Also Read: What do you Require to start Crypto Mining?
Download Bitcoin Mining Software on your Computer:
To monitor and control your equipment’s crypto mining, you must need bitcoin mining software. Bitcoin mining software is a piece of software that can, in effect, control your computer’s processing power. The bitcoin mining software is used to mine new cryptocurrency while also adding blocks to an existing blockchain. The newly mined cryptocurrency is then taken by the mining entity after validation, as a reward for adding blocks to the blockchain.Â
Mining software, specifically bitcoin mining software, is designed to allow your computer to work on a task you have set for it. After downloading the correct mining software for your computer, all you need to do is open the program and follow the instructions on how to start mining bitcoin.
The best bitcoin mining software is as follows:
- CG miner: CGminer is a great bitcoin mining software for ASIC miners. Eclipse- people can use the open-source platform built on CGminer for Bitcoin mining on Windows, Linux, and Mac operating systems.
- BFG Miner: BFGminer is an ASIC and FPGA mining application. It is a mining software in the Linux kernel and has been designed especially for Bitcoin mining. It is the most reliable application to mine bitcoin on Linux, including support for graphics cards.
- Kryptex Miner: Kryptex keeps track of the hash rate and profitability of GPUs that are accessible to the market. It runs in the background and can handle complex distributed cryptocurrency computations quite easily.
- Cudo Miner: Cudo miner is a GPU and CPU miner that supports several algorithms. In addition, it provides advanced tracking capabilities and remote control that allow miners to allow/disable mines and display hash rates. At the same time, it monitors revenues and hardware health stats such as wattage, temperature, transactions, etc.Â
- ECOS: ECOS is the best cloud mining provider and a full-fledged investment platform. It doesn’t only provide cloud mining but also, wallet, investment portfolios, exchange, and savings.
To find out more about bitcoin mining software and other programs, head on over to the Best Bitcoin Mining Software website, or take a look at this video tutorial that shows you how to mine with CG Miner:
How to use different Bitcoin Mining Software Programs:
Step 1– boot up your laptop or computer and open your bitcoin mining software program. If using Windows, click ‘Start -> Control Panel -> Programs -> Accessibility’. If using Mac OS X, click ‘Apple menu -> System Preferences -> Security & Privacy.
Step 2- once your bitcoin mining software application is open, click ‘Properties’ and select the ‘Advanced’ tab.
Step 3- In the advanced settings tab, check the box that says ‘Start Bitcoin mining program after the system starts. The mining software will now run when you turn your computer on.
Step 4- Once you have finished downloading the bitcoin mining software to your laptop or computer, close any open windows or programs and save any open files.
Step 5 – To ensure that your computer has enough power to mine bitcoin, reboot it and wait five minutes to confirm it is working correctly. Once you have confirmed this, restart your computer again.
Also Read: East African Bitcoin Miner Gridless backed by Jack Dorsey’s Block
Join a Cryptocurrency Mining Pool:
Mining pools are groups of miners who combine their computing power to increase the amount of cryptocurrency that can be earned when solving cryptographic problems. The objective is to improve profitability, reduce variability, and increase the speed at which coins are mined.
The first step will be for you to create your account on the mining pool and register yourself as a cryptocurrency miner. After that, it will allow people in different parts of the world to connect and use their combined computing power to earn more cryptocurrency.
Use GPU of your Computer:
GPUs are mainly used in gaming, video editing, and 3-D rendering applications. In addition, GPUs can also be utilized by Bitcoin miners to mine bitcoins. In this process, the computer works out the math problems needed to mine new coins and verify transactions on the network.Â
The process of mining relies on cryptography for verification purposes. You can also install software allowing your machine’s GPU to mine for you when it is not used for other activities on your computer systems.
Go for CPU and GPU mineable Cryptocurrencies:
Altcoins are usually mined using ASICs (Application-Specific Integrated Circuit), built simply for mining. They are considered very effective, but the high energy costs and risk of failure make them not worth the investment. Especially for those who want to mine for cryptocurrency.Â
Furthermore, cryptocurrencies like Ether and bitcoin cannot be mined by people from a CPU having a single GPU; in short, you will have to opt for cryptocurrency minable from a CPU or a single GPU.
