Bitcoin is one of the leading digital currency. It is working on the peer to peer technology. It is decentralized, which means it doesn’t have control of the government or central bank. Bitcoin has its own network called blockchain network. It is one of the most secure networks in the world. Because of anonymity and security investors start taking interest in investing money in bitcoin. And making a huge profit from bitcoin trading and mining business. Bitcoin is released in 2009, but its capital market is like exist for a long time. The power of bitcoin is it is an open-source and anyone can participate in bitcoin trading and bitcoin mining business. Bitcoin is most popular because of the bitcoin mining business. Let see what is bitcoin mining? And how it works?
What is Bitcoin Mining?
Bitcoin mining is the process of confirming transactions over the bitcoin network or solving transaction block. It sounds simple right? But to solve the block of transaction you need to solve complex mathematical problems. Even you have to solve it before someone else. It’s not possible manually because it is based on a hash encryption algorithm. to solve the complex mathematical problems you need hash power or computational power to solve a block. If you solve block problems before someone else then you rewarded with newly generated bitcoin. The current rate of reward is 12.5 BTC and 1.5 is transaction fees.
What is Bitcoin Cloud Mining?
If you don’t have enough money to invest in expensive mining hardware? Here is the solution for you. Some companies provide cloud mining services for users who don’t want to invest money in bitcoin mining hardware. You simply purchase a mining contract from a cloud mining company and start mining your bitcoin on the cloud. But here you have to pay maintenance fees to mining companies.
How to Start Bitcoin Mining?
I suggest you join the cloud mining pool and purchase a mining contract. It is little investment as compared to investing huge money in mining hardware. You just need your bitcoin wallet where you can store your mined bitcoin. Everything is managed by cloud mining companies. Even they did regular hardware maintenance to provide high-speed mining solutions. You don’t need to worried about electricity cost, cooling fans, Noice and Air-condition rooms, etc. Your mining farm is already set up a remote location. This is the best way to mine bitcoins.
Where is Found Good Bitcoin Mining Cloud?
As bitcoin mining business has high risk, Before you jump into the mining business you need to do basic research. But don’t worry I will provide you list of the good mining companies so you can start mining immediately. I suggest you join Megamining free bitcoin mining company. Which allows you to mine bitcoin. It is one of the most secure and trusted mining company. It exists since 2017 and currently, it has more than 1 Lac active users.
Megamining is one of the leading free bitcoin mining clouds. You can double up your investment in a very short time. It exists since 2017. Megamining doing regular maintenance of their mining hardware to provide high-speed mining experience to all miners. It also provides free mining opportunity to all the miners. You can participate in their powerful affiliate mining program. Every free miner can get up to a 20 % referral bonus. If you want to earn more then upgrade your mining plans and get up to 100% bonus.