Key Points
- How much money you will earn if you start Cryptocurrency mining from today
- You can mine cryptocurrency only if you have PC or Laptop
- Benefits of crypto mining
- What is the future of cryptocurrency mining
Mining crypto has become more difficult, but there are still opportunities to use a desktop or laptop to mine a Cryptocurrency.
While mining bitcoin on an individual computer is no longer viable, there are other cryptocurrencies that you can still mine at home if you’re prepared to put in the effort.
UNDERSTANDING MINING
To put it into very simple terms, crypto mining is a process in which a machine performs certain tasks to obtain a bit of cryptocurrency. This is the biggest TL;DR possible, so let’s branch out a bit, shall we?
Imagine that you have a machine that mines crypto coins. For example’s, let’s just say that machine is your own, personal computer or laptop, and you’re trying to figure out how to mine a cryptocurrency.
Your PC would perform specific tasks that are required to be able to obtain even the slightest amounts of cryptocurrency. These tasks are called “Proof of Work”, and they are designed to create a fair playing field for all the different miners out there.
The tasks themselves are math equations. The more miners want to mine one, a specific mining pool—the tougher the equations become. This brings balance to the pool, but it also motivates bigger and stronger machinery usage.
Many more subtle factors come into play while the mining process is happening, but the general idea is that if your device contributes to the “mining”, you’ll get a share of the spoils.
That is a very short and simple way!
Types Of Crypto Mining
ASIC mining: Mining using an application-specific integrated circuit (ASIC). This type of device is made to mine a specific cryptocurrency. It’s expensive, but it also typically provides the highest hash rate, meaning it offers more mining power.
GPU mining: Mining using one or more advanced graphics processing units (GPUs), commonly known as graphics cards. These also provide considerable mining power but at a somewhat high up-front cost.
CPU mining: Mining using a computer’s central processing unit (CPU). Although this is the most accessible way to mine crypto, CPUs don’t have nearly as much mining power as ASICs and GPUs. For that reason, profits from CPU mining are minimal.
Mining pools: Groups of miners who work together to mine crypto and share block rewards. Miners pay a small percentage of those block rewards as a pool fee.
Solo mining: Mining on your own. It’s much harder to earn block rewards this way, so mining pools are often the better choice.
Cloud mining: Paying a company to mine crypto on your behalf with its own mining devices. Cloud mining requires a contract, and the terms almost always favor the company and not the miner.
What are the best cryptocurrency mining software?
| Software Name | Coin Mined |
| 1. UnMineable | All Crypto Coins |
| 2. Nicehash | Bitcoin |
| 3. Kryptex | Bitcoin |
| 4. CudoMiner | You Can Mine 9 Crypto Coins |
| 5. CryptoTab | Bitcoin |
There are much different software available in market to mine bitcoin and other crypto coins but mentioned above are the best software you can use in your laptop or pc to mine cryptocurrency.
How Much Money You Will Earn If You Start Cryptocurrency Mining From Today
So it is totally depend on the price of crypto coin you mine. I will explain to you how it could be. Suppose, You Mine 50 Dogecoin per day, current rate of Dogecoin is $0.05. So according to today’s rate your profit is 50 × 0.05 = $2.5 but after some days if you keep those Dogecoins in your crypto wallet, Rate of Dogecoin will increase to $0.5, so your current profit will be 50 × 0.5 = $25. By these calculations, we can predict your earnings.
Benefits Of Crypto Mining
If you’re a crypto-miner, then it can be a pretty good side gig. With little analysis, you can generate passive income based on your computing power without anything to do about it. Get–Set–Forget.
Next, you can be a vital part of the crypto movement, as miners are the primary contributors to making decentralized finance a reality.
Finally, you have veto power for any change in the network protocols.
