Bitcoin mining in 2018 is a process with which there is a lot of discussion in the cryptocurrency community. With the rise in the price of BTC, network users have become confident that the extraction of virtual currency is profitable, and the purchased equipment pays off in a short time. But is it?
Mining efficiency is a multifaceted parameter that takes into account not only the cost of the instrument, but also other factors - trends in the field, the attitude of government agencies towards cryptocurrency, and so on. Only with a comprehensive assessment can one say whether BTC mining will be a profitable undertaking, or it is better to refuse it. Below we will consider how cryptocurrency is mined, what are the features of this process, and what equipment is better to use.
Bitcoin mining prospects in 2018 - a brief analysis
In 2017, the value of Bitcoin increased by more than 20 times, which prompted many investors to buy cryptocurrency, and miners to find and buy suitable equipment. This is not surprising, because in December 2017, the BTC exchange rate reached $20,000, which significantly exceeded the expectations of the crypto community. Despite the recession that occurred at the beginning of 2018, interest in cryptocurrency is not declining.
Until the beginning of April 2018, the Bitcoin exchange rate was falling and even reached the mark of 6.5 thousand dollars, but after that a bullish trend began, and the price steadily went up. As of April 24, 2018, the price of Bitcoin is already $9226 per coin. This means that in just 20 days the price has increased by 50%. This growth has caused another wave of excitement among investors and people aimed at personally extracting virtual money.
Bitcoin exchange rate online chart:
Bitcoin mining in 2018 has the following features:
- The block reward is 12.5 coins. Another reduction in the premium occurred in 2016. Network members have two more years until the next halving of the premium to 6.25 Bitcoins.
- The complexity of mining is growing all the time. If at the beginning of 2017 it was 317 GigaHash per second, at the beginning of 2018 this figure reached 1.88 Terahash per second. Despite the depreciation, the difficulty continues to rise. As of April 24, 2018, this parameter is 3.84 Terahashes per second. In just 4 months of 2018, the difficulty doubled. This means that the requirements for cryptocurrency mining equipment have also increased. The result is obvious - the equipment relevant in 2017 today does not give the expected result and payback. For example, farms on video cards (even modern ones) do not provide the proper profit. The only way out is the use of ASIC miners, which we will discuss below.
- The cost of mining equipment against the backdrop of growing demand has increased significantly. New video cards and ASICs are sold out immediately after release or ordered in advance. For example, to create, you will need at least 10 video cards, each of which costs from 300 to 1000 dollars. As for ASIC miners, one device costs 2-5 thousand dollars. One can imagine what expenses a member of the network incurs in order to assemble a profitable farm.
- Electricity costs. Electricity prices are rising every year. At the same time, the payback of mining depends on the region where the equipment is installed and operates. For example, in the Kamchatka Territory, 1 kWh will cost 8.174 rubles. While in the Rostov region the tariff is much lower - 3.6 rubles. Each region has individual electricity prices, which is worth considering when starting Bitcoin mining.
- Additional expenses. When buying equipment, the miner makes calculations for the current time (taking into account the current price, complexity and other parameters). For example, on April 24, 2018, the average ASIC miner shows a payback period of 6–10 months. Already in 1-2 months this parameter will be adjusted in the direction of decrease or increase, because the complexity of production will change, as well as the price. The miner will have two options - to put up with a new payback period or buy additional equipment, and these are new expenses. Therefore, the cost recovery point may move away or approach (depending on the situation in the cryptocurrency market). Experienced network members assure that the received return on investment must be multiplied by at least 1.5 times.
Bitcoin mining - what is it in simple words
The theoretical part is considered the basis of any earnings. The mining of virtual coins is no exception. Before you start mining Bitcoins, it is important to understand the essence of the process and its features. BTC mining is a mathematical operation that is performed by special equipment to select the hash of the next block in the blockchain chain. The more power the mining technique has, the faster the options are sorted out, and the higher the probability of finding the required number.
In other words, Bitcoin is a chain of blocks, each of which contains a cryptographic signature created on the basis of the previous blockchain element. During the mining process, the chain is divided into several branches, but the branch on which more miners work is recognized as valid.
To summarize - what is the essence of Bitcoin mining, and what is it in simple words. We noted above that each block of the chain contains a cryptographic signature - this is what miners need to find. The network member who solves the problem is rewarded. In 2018 and the next two years, the premium will be equal to 12.5 coins. In 2020, this figure will be halved.
The calculation of the next block depends on the complexity of the network, which changes every 2016 blocks. On average, it takes about 10 minutes to create one element, and the difficulty increases every 2 weeks. The difficulty parameter depends on the speed with which blocks were mined in the past period of time. What does it mean? If a powerful ASIC miner with a higher hash rate appears in the hands of users, the complexity of the system increases. This is a defensive reaction of the network, thanks to which the average block time remains unchanged.
In other words, Bitcoin mining is the creation of blocks (chain elements) or new coins. Such work is necessary for the cryptocurrency network, because thanks to it, transaction confirmation is ensured, the Bitcoin chain is protected from attacks, and decentralization is also supported. A transaction carried out between two participants is reflected in the block after confirmation of validity. If the miner accepted the transaction and added it to the next element of the chain, the coins become available. As a rule, full validity is recognized after six received blocks (sometimes two).
It is impossible to hack the system, because for this you will have to make a change in the entire blockchain chain, which has been formed since 2009 and is in the form of copies on tens of millions of computers in the world. This is a huge job that requires an infusion of large funds and does not make economic sense.
How to mine Bitcoin - step by step instructions and methods
Knowing the risks of cryptocurrency mining and realizing the nuances of Bitcoin mining, you can get to work.
Deciding on the mining option
The first step is preparatory. It is important to decide on the method of mining cryptocurrency:
- Solo mining- mining of coins outside the pool, using their own capacities. Even 3-4 years ago, this way of earning gave results, but today there is practically no point in it. The reason is the growing difficulty of mining virtual coins and high competition from large pools. The probability that one miner will find the required hash is extremely small. Even with the purchase of powerful equipment, the payback reaches 2-3 years (at best).
- Pool work. A wiser solution is to connect to one of the servers, where thousands or even tens of thousands of participants unite. For the cryptocurrency network, the pool is perceived as one miner, which increases the chances of creating the next block and making a profit. Earned coins are divided among the participants, taking into account the payment scheme used in . We will talk in more detail about choosing a service for BTC mining below.
- cloud mining. This is an alternative option for people who do not have 3-5 thousand dollars to buy equipment, but dream of making a profit on the extraction of virtual coins. Cloud services - sites representing Bitcoin mining companies and other cryptocurrencies. Employees of such organizations buy equipment, set it up, pay money for electricity and solve other related tasks. Clients simply buy power and use it to mine virtual coins.
The cost of services depends on the company. For example, more than a million people participate in genesis-mining.ru. The cost of services is from $179 per 1 Terahash per second. You can consider other options, for example, hashflare.io. Here, the cost of 10 gigahashes per second will cost 60 cents. If you take 1 Terahash per second, the cost will be $600. The advantages of such a solution are the possibility of remote mining (without spending money on equipment), low initial capital requirements and the ability to earn without special knowledge. The danger is that when working through cloud mining, you can get scammed. If you choose proven services, they are almost always sold out. Another disadvantage is the commissions that are charged by the company to cover expenses.
Choosing equipment
Before mining Bitcoin, it is important to decide on the equipment for work. This is relevant if the first two options are selected (solo mining or pool mining). Broadly speaking, a network participant has four paths:
- HDD. In 2009-2011, network members mined Bitcoins on computer HDDs. The use of this method made it possible to save costs and speed up equipment setup. With the growth of complexity, HDD mining has lost its relevance, and the costs have ceased to pay off.
- Processors. In the same period (until 2011), many miners used the CPU to mine cryptocurrency. As in the case of the HDD, this way of earning quickly became useless and has not been used for 6–7 years.
- Video cards. Until 2012-2013, a powerful graphics processor installed in a PC was enough to mine BTC. With the advent of ASICs in 2014, this approach ceased to be profitable. The miners chose a different path - they began to collect farms on the GPU. At first, up to 4–6 video cards were used, and in 2016–2017 their number increased to 10–16 units. This mining method suffered the same fate as the previous methods. In 2018, it is still possible to mine BTC using GPU farms, but the amount of profit received is incommensurable with the costs of purchasing and configuring equipment. Even with modern graphics cards such as GIGABYTE GeForce GTX 1080 Ti or mining efficiency will be low. In addition, the situation is not limited to the purchase of video cards - you will need a full-fledged PC, the purchase and arrangement of racks, organization of cooling and other expenses. The total costs reach 5-7 thousand dollars (sometimes more), which forces network participants to look for other options.
- ASIC miners. The best way to earn Bitcoins in 2018 is to give preference to asics, which are characterized by high performance, lower energy consumption and reliable operation. This is a compact device designed specifically for mining virtual coins. With the growth in demand for such equipment, the number of offers on the market is also growing. For example, on April 24, 2018, it costs $1,288. Its power reaches 14 TX / sec. If you calculate the profit on the specified date, it will be $ 210 per month. This means that the ASIC payback will come in 7 months. Even with increasing complexity, an ASIC miner will pay for itself within a year. In addition to the mentioned ASIC miner, you can consider other options - Canaan AvalonMiner 821 (12.1 TH/sec) or Ebang Ebit E 10.1 Miner (18 TH/sec).
Starting a wallet
The next step that you need to go through is to select and create a wallet for storing the earned cryptocurrency. Here it is important to take into account the ultimate goals of cryptocurrency mining. If the task is to accumulate and store BTC coins for a long time, paper or hardware storage will do. If the received Bitcoins will be spent or exchanged for other virtual money, an online, mobile or local wallet is more suitable. From the standpoint of reliability and convenience, the best options are Electrum () and Bitcoin Core ().
Choose a pool
Pool interface pool.viabtc.com
To achieve the best effect, it is important to choose the right pool for mining virtual coins. When looking for a pool, you should focus on the reliability of the site, reviews, total hashrate and the way the reward is paid. For April, 2018 it is possible to carry to the most demanded platforms:
- pool.btc.com
- antpool.com;
- pool.viabtc.com.
Registration in the pool
Fields to fill in when registering at pool.viabtc.com
Before mining Bitcoins, you need to register in the selected . On each site, the approaches are individual, but the general meaning is reduced to specifying a mailbox and password, followed by confirmation through a letter that comes to e-mail. After activation, the user receives login data and can start earning cryptocurrency.
Entering payment information
Bitcoin wallet address example
The next step is to specify the information where the money should be transferred. For example, after registering at slushpool.com, you need to go to the settings section and add a Bitcoin wallet (specify the key for making payments). In many pools, it is required to set a parameter, at what number of accumulated coins to make payments. Here you should not set a large amount - it is better to withdraw money immediately, not trusting online services. On the other hand, you need to take into account the commission that is charged for the transaction.
We provide security
Mining pools are most often attacked by intruders. In order not to be left without money, it is important to make sure that the pool you use has SSL encryption. The easiest way is to look at the icon in the browser's address bar. The inscription "https" in front of the main domain indicates the presence of such a protocol. In addition, many pools offer 2-factor authentication. If it is provided, it is important to activate it. In this case, it will be more difficult to hack the miner's account.
Choosing a program for mining Bitcoin
CGMiner program in working mode
The next step is choosing a mining program. This is a special software, "sharpened" specifically for the extraction of virtual money. When mining with ASICs, additional software may not be required (if it is included). Another thing is when a farm on video cards is used to earn Bitcoin. Here you can use the following options - CGMiner, BFGMiner, MultiMiner and others. The advantages of these programs are the ability to mine on ASICs and video cards, ease of setup and the possibility of using different strategies for mining virtual coins.
Last steps
The preparation work is almost done. It remains to take the last steps:
- We set up the pool, specify the username and password, and then select the equipment used (if required).
- We keep the mining process under control, evaluate the hashrate, look for connection problems.
- We optimize the process. Some asics and video cards have the ability to overclock. If you have the necessary knowledge, do this work.
- Evaluate mining efficiency. The first conclusions can be made approximately in 20-30 days. If necessary, you can change the pool or increase the capacity of the equipment used.
- Monitor the heating of the equipment. The mining process involves round-the-clock operation of ASICs or video cards. To avoid overheating and failure of expensive equipment, it is necessary to control the temperature and provide additional cooling if required.
The topic of mining is currently particularly covered on the network. People are interested in the incredible growth of bitcoin and the mining process of the super popular . To become a miner, you need to thoroughly approach the issue and carefully prepare. This material from Threshbox is just aimed at this. In the latest article, you will learn what mining is, how to start mining bitcoins and other cryptocurrencies, whether to mine collectively or alone, and what kind of hardware is best for this business.
What is mining
Mining (from the English "mining" - mining) is a decentralized computing process that serves two main purposes:
- Confirms transactions in a trusted way, using the computing power of the miner to process data.
- Creates (releases) new bitcoins in each block.
Notable Information: what is the proof of work (proof of work). In the bitcoin system, there is a piece of data that requires certain resources (computing power). Proof of work is one of the consensus algorithms (general agreement) that provides confirmation of the complex and lengthy work described above. In most cases, it occurs randomly and does not require any action on the part of the user.
Software and Wallets
The whole point of bitcoin mining is to earn them. But what software should be used for this? Moreover, as soon as a certain amount of bitcoins is earned - where to store them safe and sound? The answers to these questions are provided by the Threshbox edition with recommendations for the best and safest mining software.
Among the mining software, there are several good and feature rich options. Most of the presented programs are available for the leading desktop operating systems: Windows, macOS and Linux.
- MinePeon. A simple open source miner that may require an additional WinDisk32Imager utility to burn disk images to USB SD/CF cards.
- EasyMiner. Cross-platform (available on Windows, Linux and Android) miner with a convenient graphical shell. Automatically configures work for bitcoin and provides activity schedules for its production.
- BFGMiner. Modular miner. Supports operation on gate arrays (FPGA), application-specific integrated circuits (ASIC), graphic graphics cards (GPU) and central processing units (CPU). Available for Windows, macOS and Linux.
- CGMiner. Powerful miner with support for multi-threaded multi-pool GPU, FPGA and ASIC. In addition, it offers monitoring of ATI (AMD) video cards, overclocking and computer fan speed settings for bitcoin and cryptocurrency derivatives.
- NiceHash Miner. A multi-user miner based on CGMiner. It supports more than 20 algorithms and uses cloud mining technology, thanks to which you do not need to look for pools.
And now about wallet programs. For bitcoin, we strongly recommend that you only use wallets where you can store and use your own (private) keys. For example, the most suitable, simple and safe options are, first of all, official Blockchain wallet, as well as third-party solutions Breadwallet, Copay And Armory. We do not recommend using various hosted (server) wallets (for example, Coinbase or Circle), since they store the entire database on the provider's servers. The provider in this case can have full control not only over public, but also over private keys.
All mined bitcoins become a real currency that can be bought, used for transactions, or even put up for auction on the Bitcoin trading platform.
Which pool to choose
Mining pools are cooperative groups of miners who agree to distribute rewards for closing new blocks in proportion to the hash power provided. Simply put, pools are made for collaborative mining. The miner can use any pool where it is convenient for him.
If you do not plan to mine solo (alone), then mining pools are recommended for use. The list below shows the largest mining pools for bitcoin and more.
- AntPool. Chinese mining pool supported by BitMain. Production relative to all new blocks is 15%.
- DiscusFish/F2Pool. A mining pool called DiscusFish, also known as F2Pool, is also based in China. Over the past six months, the production of this pool has become equal to 12%.
- Bit Fury Pool. BitFury is one of the largest manufacturers of Bitcoin hardware and chips. Currently, this private mining pool mines about 12% of all bitcoins in three processing centers across Georgia.
- BTCC. The third largest Bitcoin mining pool in China. Today he owns about 7% of all bitcoins.
- ViaBTC. This mining pool was created in 2014 and is also based in China. ViaBTC mining is 8% of all new blocks.
- BTC Top. One of the newest mining pools. It doesn't have its own website, so it may be a private pool.
- Slush Pool. Slush is officially the first bitcoin mining pool. Based in the Czech Republic. At the moment, it mines about 6% of all bitcoins. Considered one of the best and most popular mining pools in the world.
- Bitclub.Network. A huge mining pool for mining various cryptocurrencies.
- GBminers. Competitive mining pool from India with a share of 5%.
The best hardware for mining
As you know, the earnings of bitcoin and other crypto-currencies are directly proportional to the computing power that the miner provides for the network. The more powerful your computer, the faster and more you can earn. Therefore, we have also compiled a review of the best hardware available on the market today.
At first, miners used central processing units (CPUs), but as the cryptocurrency network strengthened, they stopped mining and became insufficiently productive. Then there was a rapid transition to graphics processing units (GPUs) in the form of computer graphics cards, as they were able to speed up the hashing process by 50-100 times and consume much less power. Shortly thereafter, field-programmable gate arrays (FPGAs) and application-specific integrated circuits (ASICs) began to be used for mining. To this day, most of the listed equipment is suitable for mining.
AntMiner S9
Best ASIC miners:
- AntMiner S7, price: $480.
- AntMiner S9, price: $2,280.
- Avalon6, price: $500.
- CoinTerra TerraMiner IV, price: $1,500.
ASIC Miner BE Tube
Best Bitcoin ASIC Miners:
- AntMiner S5, price: from $150.
- AntMiner U3, price: $90.
- ASIC Miner BE Tube, price: $320.
- ASIC Miner BE Prisma, price: from $600.
- Avalon 2/3, price: $3,075.
- BTC Garden AM-V1, price: $350.
- VMC Platinum 6 Module, price: $9040.
BPMC Red Fury USB
There are also USB bitcoin miners. Thanks to USB miners, you can save a lot of money. Among them, the most popular offers are:
- AntMiner U2, price: $50.
- BPMC Red Fury USB, price: $45.
- GekkoScience, price: $50.
- Avalon Nano 3, price: $55.
MSI GeForce GTX 1080
The best video cards for mining various cryptocurrencies:
- Gigabyte Radeon RX 560 (4 GB), price: 23,500 rubles.
- ASUS Radeon RX 580 (4/8 GB), price: from 35,000 rubles.
- Gigabyte Radeon RX 570 (4 GB), price: 38,000 rubles.
- ASUS Radeon RX 570 (4 GB), price: 41,990 rubles.
- Gigabyte GeForce GTX 1070 (8 GB), price: from 49,500 rubles.
- ASUS GeForce GTX 1070 (8 GB), price: 54 990 rubles.
- Gigabyte GeForce GTX 1080 (8 GB), price: from 56,280 rubles.
- MSI GeForce GTX 1080 (8 GB), price: 67,190 rubles.
- GeForce GTX 1080 Ti (8GB to 11GB)- not available for sale.
Outcome
In conclusion of this article, I will answer the main question as clearly as possible, which is probably of interest to all miners - which is better: to mine or buy bitcoins?
If you look at mining as a long-term investment, then in the future you can actually earn a certain amount of bitcoins or other cryptocurrencies. However, this has its share of risk. First of all, miners can simply break down - accidents happen. Also, you cannot know for sure how much virtual money you will earn - regardless of mining activity. The numbers can change significantly. A more profitable and promising choice in this case would be the purchase of bitcoins. Especially considering that now its price is at the level of $3 thousand and, with minor changes, basically continues to grow.
You can find out how profitable it is to mine a particular cryptocurrency at the moment on the What to Mine website. This service analyzes the dynamics of exchange rates and, based on the data obtained, predicts the profitability of mining.
Write in the comments which pool you want to use and which iron you prefer to take for mining. Of course, if you still decide for yourself that you will definitely do it.
The standard paper currency is gradually losing its relevance. In 2017, the time has come for cryptocurrencies - bitcoins. For those who are not familiar with this concept, let us explain that a cryptocurrency is a currency in the virtual space, the most popular representatives of which are bitcoin. Perhaps, only those who did not get out of the bunker, did not watch TV and did not use the Internet did not hear about bitcoins. It seems that we have a new currency of the future, which captures the virtual space.
Everyone is trying to make money on it, and the main topic is bitcoin mining. Not surprising, because the rate is impressive and constantly growing. Knowing how to work with these fluctuations, you can put together a fortune. In the meantime, until you know this, we will try to consider this topic in as much detail as possible. Perhaps something in this article will give a future financial genius an idea on how to get the maximum profit using bitcoins.
What is bitcoin
Perhaps it’s worth starting with the simplest - indicate,. It is a decentralized electronic currency. It was developed by a Japanese programmer named Satoshi Nakamoto back in 2009, but became popular in relatively wide circles not so long ago. In principle, the wave of its popularity is just beginning to rise, so we have every chance to be surprised how popular this type of virtual funds will become.
The name bitcoin can be translated into Russian by dividing into its constituent words “biti”, that is, a bit (a unit of information) and “coin”, that is, a coin. It turns out that we have money that exists exclusively in the virtual space and is universal for almost all the money in the world. This makes it incredibly easy to transfer funds from one subscriber to another, especially internationally.
In addition, this name applies not only to the currency itself, but also to the wallet where it is stored and to the network in which it is created. But quite often on the Internet you can find the abbreviated name of the currencies in question, which in the English version looks like “BTC”, and in the Russian version “BTK”.
But before proceeding to find out how the type of currency in question is mined, it is advisable to clarify what its features are and how it differs from the money we are used to:
How to mine
If you decide to start mining, mining bitcoins will not be cheap. Of course, this is a profitable business, but the competition here is high. Moreover, the competitors are not some beginners, but experienced specialists who, in this case, have eaten more than one dog. Without proper training, it makes no sense to compete with them - it will be ineffective. But the instructions that are posted on most sites, to put it mildly, bear little resemblance to accessible and understandable instructions for a beginner. They are for advanced users, programmers and other people who are already literally fused with the computer.
We tried to create a guide that will look at the process of mining currencies from the very beginning, showing how to get more bitcoins, but without getting confused by the instructions.
- The first step is to purchase special equipment.
Previously, it was possible to use an ordinary computer, as in principle now, only if then there was at least some sense from this, now the chances of earning bitcoins are almost zero. This is due to the high competition in this industry. Therefore, equipment designed specifically for currency mining — ASIC miners — went on sale. All this will cost no less than two thousand dollars, and this is only for minimal calculations.
- The second step is to create a wallet for bitcoins.
If a person gets money, albeit virtual, they need to be stored somewhere. Therefore, you will need to create a virtual bitcoin wallet. When the process of creating it is completed, do not forget to save the address. It is important that there is an open, public address.
What is especially important, you can create a wallet both online, using special services, and by downloading and installing an offline wallet on your computer. In the latter case, there is one feature so that your bitcoins do not sink into oblivion if the computer breaks down, it is important to copy the wallet.dat file. Then you need to print it and hide it in the safest possible place, because this piece of paper opens access to your wallet, which helps to restore information and earned money.
- The third step is to join the joint generation pool.
Of course, you can try to work alone, but the bottom line is that it is almost impossible to achieve high results. But in the pools it is much more convenient and efficient to search, and the participants share the remuneration among themselves. It's very simple - some pools even require pre-registration. But registration provides a lot of advantages, such as the ability to track statistics, choose convenient options for withdrawing bitcoins, etc.
But before you stop at any option, pay attention to:
- The fourth step is to install a special program on the computer.
Many professional computers already have such a program, but if not, then it must be installed. But be careful, because different programs are suitable for different software. The most popular of the programs is Bitminer. But if you prefer to work on Mac software, then you can use MacMiner. If you are a PC client, then BFGMiner or 50Miner will probably suit you. After the programs are loaded, you can start working.
How to earn Bitcoin? Earning Bitcoins is now more relevant than ever. This section contains step-by-step instructions on how to earn Bitcoin from scratch. Bitcoin is the most profitable way to invest money today. It's no joke, in 2017, the Bitcoin exchange rate increased more than sixteen times, from $970 in January to $16,600 in December. Many crypto enthusiasts simply do not know how to start earning on Bitcoin from scratch, and they also believe that it is too late to enter this market. But these are fundamentally wrong assumptions! Bitcoin is developed on the basis of the innovative Blockchain technology, which is in great demand in the world. Investors believe in Bitcoin and are ready to invest and invest fortunes in the first cryptocurrency. Bitcoin is able to replace the financial system known to us in the future, sooner or later every progressive person will start using this coin. In the article you will find answers to the following questions: “What is Bitcoin”, “How to start earning Bitcoins on the Internet”, “How to make money on the difference in Bitcoin rates”, “What are the reviews about earning Bitcoins”, “How can I earn Bitcoins at home”, “Where earn Bitcoins”, “How to earn on Bitcoins with investments” and “How to buy, trade on the stock exchange and withdraw Bitcoins”. You can buy Bitcoin as quickly and simply as possible on the reliable Binance cryptocurrency exchange: 
The biggest income from the growth of the Bitcoin exchange rate can be learned by trading on the stock exchange. The binary options broker Binomo offers an excellent trading platform for making money on Bitcoin. To earn, you do not need to have special skills or learn exchange trading tools. You just need to predict whether the Bitcoin rate will fall or rise for the selected time interval. Binary options are much easier than Forex trading and much more profitable. For one transaction, you can get up to 80% profit. For all new traders, the broker credits 10 thousand dollars to a demo account, which will help you learn how to trade binary options for free. In my opinion, Binomo is the best trading platform for earning Bitcoins today. See a detailed review of the broker. Click on the banner below to register on Binomo and start earning with Bitcoin:
How to start earning on Bitcoins from scratch. Many beginners in the crypto industry do not know where to start making money on Bitcoin. The first step is to study Bitcoin itself and understand what prospects lie in this coin. This section contains a lot of useful information, at the beginning of the article there are links to useful articles that analyze in detail the mechanism of Bitcoin and everything connected with it. Be sure to study all these articles, so you will have a clear understanding of how to make money on Bitcoins from scratch. After studying the background information, of course, we need to buy Bitcoin. Without the coin itself, you won’t be able to earn. This is the first point from which earnings on Bitcoin begin. 
How to buy Bitcoin. The procedure for buying Bitcoin is quite simple. But for beginners, it can be difficult. Especially for beginners, we wrote a detailed manual "". There are two ways to buy BTC at a favorable rate: through the BestChange service or on the Binance exchange. Buying BTC on the exchange is more profitable. It is possible to transfer rubles, dollars or euros to the exchange from a bank card and popular payment systems (Payeer, WebMoney, Perfect Money, Advanced Cash, QIWI). Then this money is instantly exchanged for Bitcoins within the exchange itself. The exchange is the most convenient, fastest and easiest way to buy Bitcoin profitably. After an investor has bought Bitcoin on an exchange, he either starts trading on it, or transfers Bitcoin to his wallet if he plans to simply store it. 
Investment in Bitcoin
To make money on investments in Bitcoins, you need to choose a reliable crypto exchange and master the basic rules of trading on it. As I said earlier, Binance is the best exchange for Bitcoin trading, I recommend everyone to invest in Bitcoin through this trading platform. After buying Bitcoin, you have two options: store it for months or even years, multiplying your money by constantly increasing the value of the coin, or trade Bitcoin on the exchange.
The choice is up to the investor. If you have chosen to multiply money in the long run, we have already sorted out reliable ways to store Bitcoin. If you want to trade Bitcoin, which I recommend you do, then study the article "". Here you will find detailed information on how to make money on the Bitcoin exchange rate, learn profitable Bitcoin trading strategies, understand how to use tools for technical and fundamental analysis of the crypto market, and much more.
The audience of this blog is Russian-speaking, so I am constantly asked how to earn a lot of bitcoins in Russia, Ukraine, Belarus, Kazakhstan and other CIS countries. In principle, it does not matter in which country you live and what language you speak. Bitcoin can be used anywhere in the world, all you need is an internet connection. The process of earning Bitcoin is the same in all countries, and this process is described in detail in this section.
The only thing I would like to clarify regarding this topic is the choice of a Bitcoin exchange for trading. The exchange should be focused on Russian-speaking traders. There are many popular American, European or Chinese exchanges with high trading volume and good reputation. But all of them do not support the Russian language, which complicates the trading process, they are required to undergo a complex verification procedure, documents for which are very difficult to obtain in the CIS countries, technical support does not answer questions, and indeed there are many cases of unreasonable blocking of accounts. That is why I recommend trading on Binance, it is an ideal exchange for Russian speaking traders. 
Ways to make money with bitcoin
1) Investment in Bitcoin. How to make money on Bitcoins with investments, we have already discussed above in this article, I see no reason to repeat myself.
2) How to earn on Bitcoins without investments. Many novice crypto enthusiasts want to earn Bitcoin simply and for free. Such a possibility exists. You can earn free Bitcoins using a computer through various services. Basically, these are the so-called faucets and Bitcoin boxes. The essence of earning is simple: you enter a captcha and view ads on these services, and receive a reward in the form of BTC. You won’t earn much in this way, but given that Bitcoin always rises in price, if you don’t spend wages, the amount of earnings will increase over time.
How to make money on Bitcoin faucets and bucks without investments, read.
Just below you can find a table with all reliable cranes. I recommend collecting Satoshi from all faucets, so you will earn the maximum. Explanation to the table: project – crane name; distribution - the name of the cryptocurrency that is distributed on a particular faucet; interval - the time after which you can collect cryptocurrency; satoshi - earnings in satoshi; payouts – which wallet the faucet pays to. Faucets are sorted by profitability, the very first faucet in the list is the most profitable. Most of the faucets distribute cryptocurrency for free once every five minutes, that is, you can earn cryptocurrency without interruption. Bookmark this page, come here as soon as you have free time and earn cryptocurrency on all the faucets presented in the table (also, under the table there is a detailed video tutorial explaining how to earn Bitcoin without investments):
| Project | Distribution | Interval | Satoshi | Payouts | |||
| free bitcoin | bitcoin | 60 minutes | 22 — 2158664 | Binance | |||
| FreeDogecoin | dogecoin | 60 minutes | 0.15-26000 | Exmo | |||
| BonusBitcoin | bitcoin | 15 minutes | 18-5000 | ||||
| bitfun | bitcoin | 5 minutes | 10-5000 | ||||
| MoonBitcoin | bitcoin | 5 minutes | 10-40 | ||||
| MoonBitcoinCash | bitcoin cash | 5 minutes | 50 | ||||
| MoonDogecoin | dogecoin | 5 minutes | 0.35-4 | ||||
| Moon Litecoin | Litecoin | 5 minutes | 600 | ||||
| MoonDashcoin | dashcoin | 5 minutes | 120 | ||||
| adBTC (bux) | bitcoin | box | ~2000+/day | Binance | |||
| BTCClicks (books) | bitcoin | box | ~600+/day | Binance | |||
| FreeBitcoinIO | bitcoin | 60 minutes | 8-4617864 | Binance | |||
| CoinFaucet | Ripple | 60 minutes | 0.0003-350 | bitcoin | 60 minutes | 10-1000 | Binance |
Today, you won’t surprise anyone with mining, a lot of material of various quality has been written about it. There are a huge number of forums and sites for discussion and even creating groups of people with the aim of effectively mining cryptocurrency at home. But let's look at everything in turn. After reading this article, you can find out the answer to many questions related to the now popular bitcoin.
Content:
- What is bitcoin, how to mine it and where to spend it
- Mining - the classic way
- Mining Profitability
- How to mine bitcoins on your computer using cloud mining
- How to mine bitcoin for free
- Mining with bots
- Results
What is bitcoin, how to mine it and where to spend it
Back in late 2008, a certain person under the pseudonym Satoshi Nakamoto claimed that he had created a revolution in the field of electronic money, the cryptocurrency was called Bitcoin. Already in 2009, Internet users could feel like virtual miners extracting resources using computer technology. Here are the main differences between bitcoin and classical money:
- There is no centralized governing body;
- Absolute anonymity of each account. You do not need to provide personal data, a randomly generated set of characters will be used to identify you as the owner of the wallet;
- Due to the frequent change of the data code, it is not possible to track the withdrawal of funds.
From the beginning, bitcoin mining has been a very simple task. Almost everyone received a lot of cryptocurrency using a medium-sized personal computer. However, at that time, the Bitcoin exchange rate was very low, and therefore the profit was not large, but those who did not exchange their resources then, but carried out the transaction at the present time, became a very wealthy person. Why is that? And all because of the rapidly growing exchange rate, at the time of writing, one bitcoin is equal to 2,500 US dollars.
After seeing the rates, you must have wondered, “How do I mine bitcoins on my computer?” Well, this is quite a difficult task. At the moment, most users are actively turning to the easy earning of a cryptocurrency called Satoshi. In one hour, you can get up to 1,000 Satoshi. But here's the catch, when transferring to real money, these are mere pennies. Let's get back to the question of how to mine bitcoin at home.
Mining - the classic way
Initially, there was only the above way to mine this cryptocurrency. Its principle is very simple, you just need to turn on your computer and enter the process of solving mathematical problems. The results may vary depending on the power of your PC, since with the help of them the computer solves special blocks and for this you get a cryptocurrency.
For one solved problem, you get 12.5 bitcoins. Sounds promising, but it's not that simple. Due to the huge demand, getting the coveted hash using even powerful gaming computers is an almost impossible task. Some miners go more advanced and buy state of the art hardware, but it can cost up to $10,000. At the same time, it should be borne in mind that several people can solve the same task, and it is not a fact that it is you who will receive the reward for the successful completion of the procedure, and not the luckier “partner”.
Mining Profitability
If you still think that you can provide yourself with a carefree life by purchasing an advanced processor and graphics card, then you are mistaken. The complexity of the mathematical problems provided is growing every day, and in addition to many competitors of the same level, there are special farms that are many times more powerful than your computer.
At the moment, special equipment is being sold called ASIC, it allows you to generate about 2.5 GigaHash per second. Power consumption does not exceed 2.5 watts. If you decide to use the latest video cards, then using 200 watts of power, the card will give out about 1.5 GigaHash. If you use the latter option, you will be an outsider and will not be able to compete with your opponents, and the costs will be disappointing.
Even when using ASICs, you will not become a mining mastodon, since this niche has long been firmly occupied by farms. Their computational ability overshadows all of the above methods of mining cryptocurrency. For a beginner virtual miner, it is better to pay attention to bitcoin cloud mining services.
How to mine bitcoins on your computer using cloud mining
This method has a significant advantage for the average user, since he does not need to purchase special equipment. In this case, you need to pay for the power on the service itself. Here's how it goes:
- Choose the right cloud mining platform for you.
- Fund your account after registration.
- Acquire the required amount of resources, it is advisable to take the maximum possible.
In this case, you mine bitcoins in parallel with other users. However, there is a rule according to which all participants in the solved block will receive a reward, its amount will directly depend on the capacities acquired earlier. This method, at first glance, will not provide as much profit as the classic version. However, the chances of success in the above method are many times higher. It is worth noting that services that provide paid mining opportunities are most often financial pyramid schemes, so you need to be extremely careful when choosing them.
If you just want to try, but are not ready for real spending, then here are a few services that will allow you to start mining bitcoins for free:
- BitcoinCloudOnline - will provide fifty GigaHash as a gift;
- BilyOceans - will give the user a thousand KiloHash;
How to mine bitcoin for free
You can earn Bitcoin without investments using special sites, they offer you to complete certain tasks for rewards. For example, you need to select certain images or enter a set of characters in a special line. For these actions, you can get more than 1,000 Satoshi per hour. Here are the most interesting options:
- FreeBitcoin. It ranks first in popularity, but does not have a Russian language. Despite this, even an ordinary user does not have any difficulties using the resource. After completing a simple registration process and starting to complete tasks, after an hour you have the opportunity to withdraw the earned funds. In addition, there is a lottery feature where you can try your luck;
- MoonBitcoin. The service is noticeably different from its competitors, it has an interesting referral function, and crediting cryptocurrency even when computing equipment is turned off will please any miner. True, there were some drawbacks, a very strange withdrawal system, you need to withdraw the earned funds every hour, otherwise every five minutes their number will approach zero. In this case, a special program for collecting Satoshi will help;
- Claimbtc . Here you can increase the volume of your e-wallet by selecting images. In twenty minutes you can get 150 Satoshi.
English-language services represent a more reliable platform for mining. Here, the declared amounts are almost always paid. At the same time, Russian-language projects are also gradually starting to appear on the market with interesting offers.
Mining with bots
Would you like to mine for free with faucets? This is a good idea, but it is impossible to fully implement it on your own. With one service that pays 1000 satoshi per hour and has a good bonus system, you will not earn more than five dollars. And this is not enough even for basic human needs.
You can create accounts in a large number of services. True, switching to each of them and withdrawing cryptocurrency will take you a huge amount of time. At least every hour you need to visit about thirty sites.
In order not to finally get stuck in the abyss of free cryptocurrency mining on their computer, programmers developed a special bot called BTC Free Bot. He is independently able to select pictures, enter captchas and collect Satoshi in your wallet. Most services are quite okay with this kind of innovation. For example, the previously mentioned FreeBitcoin does not block the bot. But other services, if a special program is detected, will block your account forever. The hardest part of this method is setting up your software. Downloaded, installed, and then you need to configure, however, beginners should not be afraid, all instructions can be found using Google, or ask on the forum, since mining guards always help beginners.
Results
Before you start mining bitcoins on your computer, you need to take into account all the nuances of this or that method. If you do not have a solid budget to buy huge computing power, then classic mining is not for you. But by investing in the cloud option, you will get a better chance of success, even if it is not so significant. In the case of unwillingness or inability to spend real money, try faucets. You may have to deal with setting up a special script, but in the future this may bring its advantages.
