What is Bitcoin Mining?
If fiat currency is minted by the government, Bitcoin and other crypto-assets are different. Regardless of authority and power, cryptocurrencies allow anyone who has the right tools and skills for mining to create new coins and get rewards from the activity. Nowadays, there are various mining websites and tools that allow us to mine BTC for free.
Briefly explained, Bitcoin mining is the process of adding new Bitcoins to circulation by solving puzzles. This process is used in some blockchains for confirming recent transactions and is essential for the maintenance and development of the Bitcoin blockchain ledger.
In Bitcoin, miners who add new blocks to the network will be rewarded for their efforts with Bitcoin.
However, Bitcoin mining is some sort of competition. With a Proof-of-Work (PoW), only the first miner who can solve the puzzle can win Bitcoin. Therefore, even if miners validate a transaction block completely, they may not earn a reward in some cases.
Why is it necessary to mine Bitcoin?
This approach may seem outdated when contrasted to some of the more current crypto asset blockchains. Now, you might still wonder why Bitcoin requires a miner and why mining Bitcoin is important at this point.
Since Bitcoin is a digital asset with high risks of copying and hacking, these miners perform as auditors who verify and validate the legitimacy of Bitcoin transactions.
Also, the means of mining can sustainably keep Bitcoin users honest. The method was first conceived by the founder of Bitcoin, Satoshi Nakamoto.
This mining procedure is advantageous to both the miners and Bitcoin itself. Miners can assist Bitcoin to avoid double-spending transactions by verifying transactions.
Double-spending happens when there’re irresistible parties illegally spending Bitcoins twice or more.
How Much Income Do Crypto Miners Earn?
Every four years, the Bitcoin miners’ rewards are halved. Halving Day refers to the point in time when mining rewards begin to decline.
Access BTC Mining Provider Website
The following is a list of BTC mining websites for free. Try one of the following websites to see whether free or paid Bitcoin mining is more suitable for you.
As a cryptocurrency investing platform, Ecos offers a wide range of BTC mining-related services. Here, you can create mining contracts from 75 USD to 50000 USD, which are valid for 15 months to 50 months. This platform accepts card payments and some crypto assets, such as BTC, ETH, XRP, and LTC.
Interestingly, you can purchase Bitmain Antminer through Ecos. They are great mining facilities to help you can mine Bitcoin more efficiently.
After that, the products will be sent to your desired address. If you are crypto-assets savvy, this platform is very suitable.
Slushpool is the go-to mining rig which is the most widely used. It is an excellent website for anyone looking to mine BTC pools.
This mining platform is one of the veterans in the Bitcoin mining world, occupying around 3.5% of the Bitcoins.
There is a 2% charge to mine BTC on the Slushpool website. Also, there are options of no-fee mining for ASIC miners in the platform.
Apart from the website, Slushpool is available for iOS and Android. The application can be used as an account monitoring tool. Indeed, you can’t mine Bitcoin in SlushPool if you don’t have the mobile app.
Regarding all BTC mining websites, StormGain is the most user-friendly and most suited for newcomers. This platform has a one-click mining process that uses no local resources and is free.
It is possible to do anything here: buy, sell, trade, and mine! Only Bitcoin can be mined on StormGain servers. Hence no other currencies can be mined at this time.
Here’s how to use StormGain to mine Bitcoin for free.
First, create an account at Stormgain.com to start mining BTC. After you have successfully registered, go to the dedicated Bitcoin Miner page. Press the big green button that says ‘Activate’ to get your first mining reward after 4 hours. Easy peasy?
StormGain has its native apps on Android and iOS and is also available on the website.
Other BTC Mining Websites or Platforms
Easy BTC Mining