How to mine Bitcoin?

By SmartestComputing Editor January 3, 2022 How to 0 Comments

Bitcoin is like a source of improvement in the economy of the country. To understand this, you can take it as a stock exchange market, where you buy shares at low prices, and when it reaches their peak, you sell them out. Likewise, you can invest your paper money into bitcoin by purchasing it and when its prices rise, sell them to earn your profit. This article will be a game-changer in your life. Just be in touch with us till the end. This article will tell you how to mine a bitcoin or say how to be the biggest investor in today’s world. In the following article, we get to know about How to mine Bitcoin? So please don’t skip the article from anywhere and read it carefully because it will be very useful for all of you guys.

Table of Contents

What is mining?

Here it means to obtain, which exactly means accepting a bitcoin. To get bitcoin, we have 3 ways.

Buy a bitcoin

Obtain as a result of goods or services

By mining

Types of mining:

There are two types of mining. One is solo mining, and the other one is pool mining.

Solo mining means you have many computers, and these all are highly powerful with the best graphic cards and all other equipment that make a laptop powerful. In this situation, you can mine alone, which means Solo mining.

Pool mining is a network of computers in different areas, cities, or countries of the world. When other computers are connected through a network, they make a pool. These additional computers make transactions, work together, and do mining together, which we call pool mining.

How to mine:

Now here we will learn how to mine your bitcoin. First, look at the things or equipment you need to unearth.

Wallet
A computer system with good and powerful graphic cards and a powerful network.
Pool address through which you connect with the network or pool to mine.
Mining Software through which you start mining.

You first have to make your wallet and wallet address to start mining. The procedure is given below.

Use the wallet of your choice. I prefer electrum.
To use electrum, download it first by clicking on the download. After downloading, install it and open it on your system. After installing, fill in the useful information and remember your wallet address.
Now open the software where you want to do mining. I prefer Slush Pool. Could you open it and create your account?
After that, configure your wallet address into the pool to receive your earnings. To configure, click on setting, then bitcoin, and then payouts. Now enter your wallet address in the given space.
Now you have to create workers or say your identification name in the pool. To do so, click on new workers, type any name you want, and click on create. Refresh it, and you will see your name.

Now configure it in your pool to start mining.
To start mining, you need to download the software. I prefer guiminer.
To configure, click on a new file, click on a new miner, and open Cl miner. Give it any name.
Then click on the mining test tab, you will see a dialogue box.
Fill the options by changing one server to another. Add your location according to your city. Add from the list. Pick only sg to .com. The add username. Username will be your slush pool’s username (.) your worker name. After that, choose your graphic card. Then type 3333 in port information. Then type any password.
Now your mining has started, and you can see your mining from the software dashboard.