HOW TO MINE BITCOINS?

Bitcoin is by far the most widespread digital currency that never ceases to intrigue ordinary people. Given that the price of this cryptocurrency is growing rapidly, many people are wondering how to mine bitcoins in 2017 and whether it is worth doing it at all.

To understand this, it is worth analyzing several factors, namely:

• At what price will you be able to sell the mined bitcoins on the exchange, and is it possible to withdraw money from them?
• How complicated the withdrawal process is and what equipment is more efficient for bitcoin mining.

So, here is a bit of history about the value of bitcoin.

According to January 2014, the price of one bitcoin was about $800-900, which is a rather high value of a cryptocurrency unit. At the end of January of the same year, the market showed the value of 1 BTC to be over $1000. Today, bitcoin is hitting an all-time high, reaching 8 thousand USD for 1 BTC.

Here, at ru.investing.com/currencies/btc-usd, you can see the BTC to dollar chart from the very beginning.

How to start mining bitcoins? Let’s take a closer look:

1. Getting a wallet. For Windows, you can install MultiBit.
2. After registering a wallet, create an address in your account settings, for example, 16Address BitcoinCm. With its help, you will be able to receive a certain amount of bitcoins to your wallet.
3. Once you have received the minimum amount of bitcoins, you should participate in a pool. The most popular of them is Slush’s pool (BitcoinCz). It is quite enough to start mining.
4. If you plan to launch miners from different computers, you need to create several work accounts with names like [yourlogin].[workername] and passwords.
5. Install the miner program on your computer. For mining on Windows, the best solution is GUIMiner for GPU/CPU mining.

After creating a wallet working in the pool, the miner is launched, and after 2 hours of the program’s operation, we get the solution. If the hardware processor has low capabilities, the success of the pool may be low, which will not allow you to compete with other participants, so you need powerful hardware for this.

Cloud-based bitcoin mining is the most optimal solution for a user who wants not only to preserve but also to increase the Bitcoin currency. In other words, it is a simplified mining that saves electricity costs, eliminates the need for round-the-clock monitoring, special software, and other related costs. It is carried out with the help of ASIC miners – mining equipment.

How to withdraw earned bitcoins?

• Bank transfer (verification is required beforehand, i.e. the provision of identity documents (passport and residence permit);
• To the account of electronic payment systems (webmoney, qiwi wallet, yandex money, etc.);
• With the help of exchangers, you can choose on bestchange.ru (the most risky option).