I don't know about you guys, but the greatest thing that made me interested about cryptocurrency was the dreamy chance to earn lots and lots of money "doing nothing", of course the idea itself was extraordinary, and it was hell to get to know even the smallest process about it. Yes, I was one the people that had the chance to invest in 2008 and wanst just that much interested, due to many things, I lost so much money thinking now... I had the money to invest, but no the time.
But whatever, everyday is a good day to earn! And I suppose most of you in the begginers forum is looking for some juicy bounty, opportunity and interesting information, well I got one right here.
How to mine BTC
Effectively, of course.
Step 1: Save your money!
The hardest part.
Stop immediatly buying those candies, sodas, useless clothes or anything you buy out of luxury. You gonna need all the money you can to make the best of your investments, pay your bills and try to save as much as possible for the next step.
Step 2: Buy a miner
The second hardest part.
They can be kinda expensive depending on where you from, but you need to choose your miner, CPU and GPU are no longer so good to mine for a lot of reaons, they are almost obsolete these days. And miners are simply too good, they are machines working 100% to mine and use all their power to make you earn. Some famous miners are Antminer , Pandaminer , Avalon and many others, research very well before buying it! Some are build especially for one sort of coin like ETH or XMR.
Step 3: Download BTC core
Let's say you bought a nice miner and have it at your home set-up and plugged with your computer.
Read the manual! The process to install the rig might differ from branch, honestly I'm not certain, but I wouldn't be surprised. Now that you went through this small and boring step, go to
bitcoin.org/download and download the core, it might take a while depending on your speed connection! Follow the guidelines on the website and proceed to the next step.
Step 4: Download a miner software
If your rig already don't have one of their preference, there are several mining programs of very skilled programmers on their knees imploring you to use them. For BTC the most famous (and some that I used myself) are: Bitcoin Miner, BTC miner (very criative names), EasyMiner, NiceHash and others. It really depends on your Operational System, look carefully!
Step 5: Set up your wallet
This is harder than you think.
Okay, this is a hot topic so I will just show you the most famous online wallets. Keep in mind, that are several sort of wallets, normally you can start with an online wallet without a care, but if you're really worried about security you can look for a hardware wallet, which is in fact safer and better in general. But everything is up to you! All I can tell you is that I went to
Coin.space or
BitGo.
Step 6: Choose your mining pool
That's up to you
Bitcoin mining pools are a way for Bitcoin miners to pool their resources together and share their hashing power while splitting the reward equally according to the amount of shares they contributed to solving a block. It's not necessary and it might take a while to solve your first block, but I strongly suggest you do that for a start. I can't say much about it as the topic is kinda complicated but if you ever try it out choose
AntPool, F2Pool or BW.com!
Step 7: Commence mining
Hold your coins in your wallet, there are many services with small fees out there that you can use to cash out. But be careful, you can be losing a lot of money doing that, keep an eye on the market and watch BTC current price and trends, a good website for that is
CryptoCompare, with charts and everything you need for BTC and all altcoins.
If that ever helped you one day, please let me know!
