How to mine Bitcoin without purchasing your own equipment.

[Jubilee58]

Mining Bitcoin can be quite expensive, especially when you want to purchase your own mining equipment. However there are other methods which people who are interested in bitcoin mining can use to mine their bitcoin which is less expensive compared to purchase a whole Bitcoin mining equipment.

Here are some of the methods you can use to mine your bitcoin.

The use of mining pools: If you are interested in bitcoin mining, engaging in mining pool can be of great help, you can use hash flare to do this, using either your phone or laptop and you will earn reward based on your payment or contribution.

The use of mobile mining apps: As a Bitcoin miner, without purchasing your own equipment, there are applications you can actually use to mine your bitcoin, such as miner gate, this application enables you to mine Bitcoin using the processing power of your phone.

Cloud mining method: This method involves renting mining equipment from cloud mining company. The company will take care of the mining equipment and maintenance while you receive the reward. Some of the platforms that renders cloud mining services are binance and vitamin.

While trying to mine Bitcoin without your own personal equipment, it is necessary to do your own research and ensure you understand the terms and conditions, fees and the potential rewards before involving your time and money.

What is your take on this.

[Charles-Tim]

This is full of wrong information, you can not mine bitcoin without purchasing your own mining equipments.

You can join a mining pool but you will join the pool with your own mining equipments like ASICs.

You can not use mobile apps to mine bitcoin. In short, you can not mine bitcoin on your phone, neither can you mine bitcoin on computer.

Cloud mining is the commonest means to scam people, it is better you avoid cloud mining.

[Agbamoni]

Where did you get all this wrong information from? Why not try it first, then share your screenshots here?

You can't earn Bitcoin from any app, not in this day and age. Bitcoin faucets are no longer a fascinating way to earn free Bitcoin because they no longer exist.

Cloud mining is much more expensive than regular mining. It is more cost-effective for you to set up your own equipment.

[Itz-prisigold]

See I understand where you're coming from, especially since buying ASIC miners is not that cheap at all. So looking for cheaper alternatives is reasonable, so this part of the discussion makes sense.

On a different note, it is worth discussing the use of the word mining. At the very least,  actual Bitcoin mining today still requires ASIC hardware.  Even though mining pools are considered the most viable option for those who don’t want to purchase mining equipment, it doesn’t solve the “no equipment” issue, Pooled mining is simply a way for miner operators to combine their hash power and split the reward, Bitcoin mining is essentially impossible using a phone or a laptop, so joining a mining pool using either device is pointless.

The same goes to mining apps, from what I know Bitcoin is simply impossible to be mined on a phone because of mining difficulty and the requirements of SHA-256, Even if an app uses the word ‘mine,’  it’s probably just a reward system and not actual mining.

Considering everything that’s been said, cloud mining is probably the most reasonable option, With that being said, it’s still a risky option that I wouldn’t recommend to beginners, Cloud mining comes with many fees,  shady contract terms, and a significant risk of scams. It’s something people need to research heavily.

I think the idea behind this topic is good,  but however, it would be clearer to say that the only way to do Bitcoin mining effectively is in using ASICs. Everything else, as you have said,  is renting hash power,  or earning Bitcoin in some way that is not mining.

[Donneski]

Op what you said used to be closer to reality many years ago but not anymore. Today, Bitcoin mining without ASICs and cheap power is basically impossible to do profitably. Phone apps, laptops and most cloud mining services either don’t mine BTC at all or end up costing more than they pay out.


If you want Bitcoin now, the most realistic option is to earn or buy it not mine it without hardware.

[Mia Chloe]

~snip

Just like Charles mentioned your post is full of wrong information. 99.9% of cloud mining offers you see on the internet are just scams. Before you made this post you should have at least visited the mining board here and read through a couple mining math and see why they are scams.

The only fair alternative are ASIC mining sticks that you can just plug in and use for a quick setup but the problem still is they generate very little hashrate unlike other wares.

[DubemIfedigbo001]

The use of mining pools: If you are interested in bitcoin mining, engaging in mining pool can be of great help, you can use hash flare to do this, using either your phone or laptop and you will earn reward based on your payment or contribution.

You phone or laptop have hardware limitations and cannot mine bitcoin effectively, it is even a better option that you sell that phone or laptop you intended using to mine bitcoin and use the proceeds to buy and hold bitcoin than even trying to mine bitcoin with them

The use of mobile mining apps: As a Bitcoin miner, without purchasing your own equipment, there are applications you can actually use to mine your bitcoin, such as miner gate, this application enables you to mine Bitcoin using the processing power of your phone.


Cloud mining method: This method involves renting mining equipment from cloud mining company. The company will take care of the mining equipment and maintenance while you receive the reward. Some of the platforms that renders cloud mining services are binance and vitamin.

Stop deceiving yourself, all these are impracticable, to mine bitcoin you must buy and install your own hardware before thinking of joining mining pools to participate in profitable mining.
Beware too that the source of this your information might be a scammer waiting to leverage on poorly informed people like you, be sure not to patronize them.

What is your take on this.

That you do not know anything about the topic you are writing on

Cloud mining is much more expensive than regular mining. It is more cost-effective for you to set up your own equipment.

Cloud mining is a scam bro, it's better he avoids it totally, most people offering that bullshit are just bunch of scammers

[Rgram]

This is full of wrong information, you can not mine bitcoin without purchasing your own mining equipments.

You can join a mining pool but you will join the pool with your own mining equipments like ASICs.

You can not use mobile apps to mine bitcoin. In short, you can not mine bitcoin on your phone, neither can you mine bitcoin on computer.

The OP no make enough research or the research materials way e use na the ones way don Dey too out dated else, I no see why e go Dey talk about mining with phone and cloud mining at this time. The era way these things being Dey work effectively don pass and there was never a time way people Dey mine Bitcoin with phone, that na very wrong info.

The idea of mining without any resource is of the past. Either the individual go bring money way them go use buy the mining rigs of e go bring en own ASICs machines to use mine, both ways, you still contribute mining equipments.

[ColdLava40]

While trying to mine Bitcoin without your own personal equipment, it is necessary to do your own research and ensure you understand the terms and conditions, fees and the potential rewards before involving your time and money.

What is your take on this.

I'll assume you did your own research to come up with these false information? Like others already said they are totally incorrect and will lead some newbie astray.

You can no longer mine bitcoin using your phone like it was back in the early days. You need powerful mining machines to be able to mine and compete with other miners on the Network. You pc can't do that.

Don't buy the false idea of internet scammers claiming to help you mine bitcoin, then when it's time to withdraw you will be required to deposit some fee to certain addresses.

A solo miner can join a mining pool and add his mining power as well and they all share the rewards after blocks are mined. But he still needs to own his equipments before he will be able to do this..