In Indonesia, interest in digital currency transactions using Bitcoin is increasing. Based on data from the Ministry of Trade, crypto asset transactions reached IDR 370 trillion in May 2021. Basically, there are several ways to mine Bitcoin that can be done. However, you still have to be careful of all the risks that could occur.
The term mining or how to mine Bitcoin is basically the same as how to get one of these Crypto assets. So, what exactly is Bitcoin mining and how do you mine Bitcoin for beginners? Check out the explanation in the following article:
What is Bitcoin Mining?
Bitcoin is one of the most popular and widely used crypto assets. Different from the definition of mining gold or other natural resources that require heavy equipment, how to mine Bitcoin can be done practically through a set of applications and computers.
The term Bitcoin mining actually refers to the process of getting this Crypto asset where the procedure is in the form of: complex math problems. This makes the process of obtaining Bitcoin considered as difficult as when mining gold.
Basically, each Bitcoin chip is a computer file stored in a digital wallet application on a computer or smartphone. Users can make transactions by exchanging assets through the digital wallet. The number of Bitcoins itself is actually limited, namely as many as 21 million Bitcoins and to date there have been 18.84 million Bitcoins sold.
So, what does this have to do with solving math problems? This process is considered as an attempt to add new blocks in the entire Bitcoin transaction system which is analogous to a ledger or blockchain.
Actually, there are several ways to get Bitcoin, namely buying it with money, selling goods for payment in Bitcoin, and mining Bitcoin. Until now, the process of exchanging goods with Bitcoin still cannot be done in Indonesia because of selling tools the only valid currency recognized is Rupiah.
How to Mining Bitcoin
In the process, Bitcoin runs on the coordination of software and network technology consisting of many machines to make Bitcoin software function normally. This combination of devices serves to store transaction information and verify each transaction. This is to ensure that there is no second transaction for the same Bitcoin.
There are 4 methods that can be used as a way to mine Bitcoin. Here’s the explanation:
The first way to mine Bitcoin is to use the pool mining method. According to the definition of the word ‘pool’ which means a pool, this method of mining Bitcoin refers to a group of people who will also mine Bitcoin. So you will join them in a mining pool.
You can get Bitcoin profits in return for the results that have been obtained. If If you are interested in using this method of mining Bitcoin, be sure to choose a trusted mining pool. So, the initial process to use a mining pool is to register to join. There are several mining pools that you can try, such as KanoPool, BTV.com, and F2Pool.
The cloud mining method is a way to mine Bitcoin that you can also try. This technique does not require sophisticated computing which means you can use cloud mining services, such as hashing24, hashflare, and genesis mining.
The use of these services makes cloud mining a way to mine Bitcoin that does not require special knowledge related to mining hardware. However, you still have to be careful in choosing a cloud mining service because this method is classified as having a high risk.
One alternative way to mine Bitcoin is solo mining. As the name suggests, you need to build your own device for mining, it can be ensured that all income does not need to be shared with others.
Therefore, you need sophisticated computer equipment, ranging from a hard drive, motherboard, RAM, and adequate electrical power. Next, you have to solve complex mathematical algorithms to earn Bitcoins.
No wonder this method is only done by those who are experts and experienced. Regarding software requirements, you need ASIC (Application Specific Circuit Chips) to support mining activities, BTC miner, easy miner, Bitcoin miner, CGminer, and BFGminer.
The last way to mine Bitcoin is a trading method where you use a number of trading platforms that provide Bitcoin transaction services. This technique is one way of mining Bitcoin on Android because you can download applications, such as Droid Miner, Crypto Miner, Bitzfree, Eobot, MinerGate, and others.
Be sure to choose a platform that fits your needs and abilities understand every feature in it.
How to mine Bitcoin with a laptop
How to mine Bitcoin can also be done on a laptop or PC with the help of a number of devices. This technique is considered more effective and the process is faster. Simply put, the more sophisticated the tools used, the faster the mining process and the greater the profits.
Therefore, the computer equipment used must have high specifications. There are 8 main tools to prepare for Bitcoin mining with a laptop, namely:
The motherboard used must have a higher performance than the PCI-E slot.
The hard drive must have a minimum storage capacity of 250 GB which functions as a data storage medium and blockchain.
Processor with a minimum specification of Core i5 for optimal computer performance.
The RAM used has a minimum specification of 4 GB.
Provides two graphics cards, such as NVIDIA and have a power supply with a minimum power of 700 W.
Cooling fan to maintain the temperature on the computer device during the Bitcoin mining process.
Mining software as a medium that allows you to mine Bitcoin.
How to mine Bitcoin on Android
In addition to mining Bitcoin on a laptop, you can also do it in a more practical way on Android. A number of application services allow Android users to mine Bitcoin. However, please note that mining on Android is considered less effective.
This is due to the Android performance which is certainly lower when compared to laptops during the mining process. However, this technique is becoming the most popular as a way of mining Bitcoin for beginners. Basically, you only need to use a few apps, such as Storm Play, Bitcoin Miner, and BTC Safari.
Storm Play presents an easy mining concept. In it is actually used to earn cryptocurrency rewards, such as storm and also Ethereum. You can use it to earn bitcoin rewards. So this Storm Play application can be used as a means to generate bitcoin.
Bitcoin Miner is one of the most popular and easy-to-operate applications. So you can use Bitcoin miner on your smartphone to do mining easily. This application also supports a lot of altcoins.
BTC Safari is also a means of mining bitcoins that can be run on Android. To be able to use this application, your smartphone is equipped with Android 4.0 or above. Through this BTC Safari you can earn satoshi (the smallest unit of bitcoin).
That’s a complete description of how to mine Bitcoin and some things that need to be prepared. In essence, how to mine Bitcoin is not as easy as Transaction. There are several different devices and platforms that can be used to mine Bitcoin. So, are you interested in getting started?