In the past few weeks, there has been an inflow of over $50 million in Bitcoin investments. And market experts believe that Bitcoin will be worth thousands of dollars as time passes by. So, how can you invest in Bitcoin if it’s now worth thousands of dollars?
The answer is Bitcoin mining. But, how can you mine Bitcoin, and is it free? In today’s post, we’ll help you answer these two questions and more. So, strap on your mining gear as we start descending to the Bitcoin mine shaft.
In order to get free Bitcoin by mining, we first must understand how it works.
Bitcoin Mining Explained
So, how does Bitcoin mining work? As you can already imagine, Bitcoin mining doesn’t require a pickaxe or mining gear, but instead, a mix of complex software and hardware is used to mine the Bitcoin. The software used to mine Bitcoin uses a sophisticated mathematical process that finds and “mines” the Bitcoin.
But why do you need to mine the Bitcoin?
Anytime someone makes a transaction with Bitcoin, that coin returns to the blockchain network. And this blockchain network is highly secure and complex, which is why cryptocurrencies are near impossible to hack. So, the software locates the Bitcoin and “mines,” so it enters circulation again.
The first computer that can solve this equation and “mine” the Bitcoin will receive a small amount of it. The better hardware you have, the faster the software will work.
How to Mine Bitcoin for Free
Yes, anyone can mine Bitcoin for free, but you’ll need to upgrade your PC, which means investing some money in better hardware. Here are some of the things you’ll need to upgrade:
- GPU (Graphics processing unit) or ASIC (Application-specific integrated circuit)
- Motherboard (Asus B250 or similar)
- Power Supply (Anything above 1600W)
Of course, you can get by with less power, but if you really want to mine Bitcoin, you’ll want all the power you can get. If you would rather rent a Bitcoin mining setup, feel free to check out www.QuoteColo.com.
So, now that you have your PC set up for mining, what is the next step? The next step would be creating a Bitcoin wallet, which is where you’ll receive the Bitcoin you earn. There are plenty of wallets out there, so just be sure to pick one with minimal transaction fees.
Finally, you’ll need to choose a free Bitcoin mining software. Here are some of the best ones to use:
- BTCMiner – Offers fully automated operations
- MinePeon – Known for its stability and performance
- CGMiner – Works on several operating systems
- 50Miner – Easy account set up
As you can see, there is plenty of mining software to choose from, so take your time and see which one best suits your needs.
Start to Mine Bitcoin Today!
As you can see, learning how to mine Bitcoin is quite straightforward. Of course, you’ll need to have the right hardware to do it efficiently, but the final payoff exceeds what you’ll spend on setting up your PC. So, don’t waste any more time, and start mining today!
Are you a Bitcoin miner? If so, let us know about your experience in the comment section below! And you’re a crypto enthusiast, be sure to check out our other crypto-related articles!
