Bitcoin Mining
we love bitcoinMining bitcoins can be quite complex and is usually not recommended for beginners. The process entails the use of sophisticated machines that are expensive and consume quite a lot of electricity to solve mathematical algorithms in exchange for bitcoins. Bitcoin miners enable bitcoin transactions by sharing their processing power. In exchange for enabling the bitcoin network to function, they are rewarding with new bitcoins. This is what “mining” refers to.
Having said that, it is no longer considered lucrative for individuals to mine at home using mining equipment and the shift is being made towards more large-scale operations.
If you do want to engage in bitcoin mining and are willing to invest in expensive mining hardware, it is strongly advisable to join a mining pool. In a mining pool, miners pool their resources together and share their hashing power with the aim of solving a block and dividing the reward equally, depending on the number of shares contributed by each person. It is an effective way to motivate small-scale miners to continue their involvement in mining activities. Some popular mining pools are:
•Antpool
•BTCC
•SlushPool
Bitcoin Cloud Mining
Alternatively, you could engage in bitcoin cloud mining. Bitcoin cloud mining is the process of mining bitcoins using a remote datacenter with shared processing power. Cloud mining is beneficial to individuals as it allows them to carry out their mining activities without having to manage the mining hardware.
It enables you to earn bitcoins without mining software, mining hardware, bandwidth, electricity or other offline issues. However, there is a cost associated with cloud mining as a service and this will have an effect on your bottom line.
The most reputable cloud mining company is Genesis Mining. I personally have a small bitcoin mining contract running with them. Having said that, the time it will take you to break even on bitcoin cloud mining can easily take well over a year and that is assuming the price of bitcoin doesn’t drop. If you want to play your part in the bitcoin network and want to mine at a low cost, then cloud mining is a good option. If you are looking for a lucrative investment, however, you are much better off just buying the cryptocurrency itself or engaging in peer-to-peer bitcoin lending.
Bitcoin Faucets
Bitcoin FaucetIf you who enjoy playing games or simply don’t mind looking at a few ads, you can visit bitcoin faucet websites. These websites generate revenue from ads placed on their pages and pay out a small amount of the ad revenue to its users. All you need to do is sign up with your bitcoin address and start earning a few cents worth of bitcoin every day.
While it is a very slow way to earn bitcoins, these sites allow anyone new to bitcoin to get obtain bits of the crypto-currency for free.
Some of the most reputable and large faucets that have consistently made their payouts over a long time period include Moon Bitcoin, Bitcoin Aliens, and BTCclicks
