What is Bitcoin Mining and How it works? How you can mine it Easy & Fast Way!

What is Bitcoin Mining?

If you are not well aware of bitcoin and what bitcoin mining is then you are at right place. In this age people prefer investment and easy profitable methods. Bitcoin mining is the right choice where you can also buy coins and sale with some profit or you do mining to earn bitcoin. Let’s talk about bitcoin mining.

In order to understand bitcoin mining, let me give you an example. As we all know that bitcoins has grown so fast in the recent time that is has become a complete business. People buy and sale bitcoin and make money. Now question arises that from where these bitcoin come from? Who make these?

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Normal currencies are made and published by the respective government but who make the bitcoin and publish them. Now we need to understand that there is no such government which runs bitcoin business or make them. These are made by solving difficult problems given to interested person.

What are these problems?

In big business world a lot of money transactions are made and all that complex data are stored in public ledger. Now that complex data is the puzzle or problem which interested persons solve and in reward of that a bitcoin is produced. One puzzle solved, one bitcoin introduced.

This is how bitcoins are produced and that’s why they are costly as well.

How bitcoin mining works? 

A bit coin is used as an alternative to avoid the dependency on the banks. These bitcoins are high value tokens which are rewarded to the miner when he solves a puzzle produced by a lot of verified online transactions.

How these puzzles are produced? 

Bitcoin network has no centralized community. The network is spread on thousands of computers around the world. In every ten minute these bitcoin computers receive few hundreds of bitcoins transactions and they turn these transactions into difficult mathematical problems which are called puzzles.

How mining works? 

There is a network of miners. When a miner solves a puzzle, he sends message to the other miners, then they check if the solution is correct? Then if majority of miners approve the solution then that puzzle block is cryptographically added to the ledger and the miner moves to the next puzzle and in reward, he is awarded with 25 bitcoins. Which incited the miner to work more and try to solve more puzzles.

Bitcoin is Secure The bitcoin miners try to keep the bitcoin network secure by approving the transactions. By mining fairness is ensured in the network and network stay safe, stable and secure. Bitcoin ensure the user full security but a you also have to follow some steps to keep it safer

1.Be careful with online services:  You should be very careful in online services. Not every online service is as secure as bank so it is your responsibility to make sure to store your money at safe place.

2.Small amount of use every day:  Keep using your online wallet everyday a little bit.

3.Backup your wallet:  Keeping a backup is good practice. Do keep a backup of your wallet in case of any computer failure.

How to start Bitcoin mining

In order to start bitcoin mining, first you need to learn what bitcoin mining is? That is explained above.  If you want to start then you need to buy a hardware for mining first. In start of the bitcoin the mining could be perform on simple PC but now since bitcoin has become so influential, it also has become more secure so you cannot do mining from your simple computer. Bitcoin mining computer can be found from different companies.

I can represent you some hardware

* AntRouter R1 ·

*Antminer s9  ·

*BPMC Red Fury USB

If you want to start bitcoin mining then buy a faster Cloud mining Services because it allows you to make more tries per second.

Best Bitcoin Cloud mining Services: 

Bitcoin clouding services is the best because you do not have to buy mining hardware, electricity or other offline issues. You purchase mining CPU power from dedicated data centers who use their own equipment on your behalf. In this you have a lot of advantages, you don’t have to feel worry about sale of mining hardware, or over heating problem, ventilation problem and other electricity issues.

There are some best cloud service providers:

Fintech mining

Fintech mining has made a lot of profit in recent times by selling and buying cryptocurrency. Now from the 2017, they are sharing their success with general public and expanding its capacity more by doing two steps

1.They are offering their members with solid investment instruments with huge profit potential

2.They are providing live personal support for the new customers and for experiences one who want to maximize their profitability.

3. So now if you are well aware of what bitcoin mining is and are interested to do mining then above are some cloud services which can help you start mining. Definitely better option that buying mining hardware. Go ahead and do cloud mining. Full review here

Minehive Cloud Mining

Minehive is a share profit bitcoin mining platform which provide customers with the best equipment available in the market and best price for hashing power. Minehive is continuously doing experiments to bring new solution to their problems to provide more easy and reliable platform.

Minehive mining provide you  ·

*Five minutes lap between you and bitcoin  ·

*Secure and easy mining 24/7  ·

*Industries best available equipment and best mining pools  ·

*Best customer support  ·

*Zero withdrawal and maintenance fee visit: MinehiveCloudMining.com

 

 IQ mining

IQ mining was founded by the team of experts by the end of 2016. The problem with other mining marketplaces is that those are not legit, if legit, then not profitable. The people in this industry are well aware of these affairs.

IQ mining sales itself by circumnavigating this fundamental problem. They use Bitcoin mining 2.0 approach which use new technology to increase the yield of an activity. The operation mines the profitable altcoins which later traded with bitcoin. Read Review

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Mining Services Ratings
  • Fintech Mining
  • Minehive Mining
  • IQ Mining
4.9