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Board Beginners & Help
Re: How to start mining of bitcoin?
by
Karanpq
on 14/10/2020, 11:00:10 UTC
I am new to bitcoin world. I want to learn about bitcoin and how we can mine or earn it.

Bitcoin is a collection of computers, or nodes, that all run Bitcoin's code and store its blockchain. A blockchain can be thought of as a collection of blocks. In each block is a collection of transactions. Because all these computers running the blockchain have the same list of blocks and transactions and can transparently see these new blocks being filled with new Bitcoin transactions, no one can cheat the system.

In case you have some disposable income and you really want to invest in bitcoin, then I’s suggest you to go for cloud mining. Companies like RRMines and Bitdeer offer such services and this investment is definitely worth it.

I’ve been using this method for the past 2 years now and hopefully saved myself from the wrath of the market destabilization and older mining techniques. I use RRMine for this. They’ve a variety of products, lock-in period of 30 days, 90 days, 180 days are also available. After the end of the lock-in period, users can freely trade or renew their computing power contracts. The contracts can be transferred to other users or repurchased by platforms then users can recoup their costs for buying contract.

You can also pay $13.99 for 7 days, the mining profit will cover your cost for purchasing the computing power

A fixed investment will get you a more stable income, and you can choose to sell mined BTCs when the price is right for you. Also you do not need to know how to set up, operate and maintain a crypto farm, these companies will take care of them all for you, it’s more of an investment instead of a technological challenge.

You can easily register on their websites and RRMine also has a mobile app, I don’t about other but I find this very handy.

Hope you found value in this answer.