One way to earn Money with Bitcoins is by mining Bitcoins. No worries, this isn’t as hard as it sounds you don’t have to mine them on your own, therefore we have many Bitcoin Mining Tools that will do the hard work for you.
What is Bitcoin mining?
I won’t go too deep in this matter here, but Bitcoin mining is a process used to verify Bitcoin transactions between two users. The mining Process itself is a complicated calculation done by Computers.
How to earn Money through mining BTC?
This is pretty simple, the concept of mining is, that you got paid for the work the miners do, so for every completed “block”(number of solved calculations), the miners get paid fraction of a Bitcoin, the more “mining Power” you have, the faster your Computer can solve the calculations and the more money you get paid.
Can I mine Bitcoins with my PC?
In the beginnings of Bitcoin, it was pretty easy to mine Coins with every PC. Some people mined thousands of coins back in 2010, but due to sad circumstances, lost their hard drive and also lost their coins with it.
But the calculations you have to make are getting more and more complicated, so you need better hardware to even recover your electricity cost.
There are other options and coins you can still “mine” with your normal PC or even your mobile phone.
There is a whole industry nowadays that are producing the best and biggest CPU/GPU just for that purpose. Buying and using them can become pretty expensive. So how can you make money with mining Bitcoins?
Bitcoin Mining Pools
As you only get paid per solved block and solving a block is getting more and more complicated, as the calculations are harder after each block. Mining Pools were created. Within these Pools, many miners working on the same block, sharing the mining Power (hashrate) they use and also the reward for solved Blocks.
Of course things have changed during the last years, things are getting harder for the individuals, but due to this fact new possibilities came.
Cloud Mining is something profitable and due to the fact, that there are now over 1,600 Crypto Currencies instead of one, ten years ago, there are way more possibilities currently.
Such as Mining other Cryptocurrencies, ICOs, “pseudo”-mining, …
That mining plays still an important role in the Ways of earning Money with Bitcoins