As the world’s first and most well-known cryptocurrency, Bitcoin has taken the lead in introducing blockchain technology to the masses. Its popularity has led to the development of numerous other cryptocurrencies, known as altcoins, with each one offering its own unique take on the underlying blockchain technology.
While most cryptocurrencies can only be mined using purpose-built mining rigs, Bitcoin can also be mined using mobile devices.
In this article, we will discuss whether it is still possible to mine Bitcoin on mobile devices and, if so, whether it is worth doing so.
What is Bitcoin mining?
In order to understand whether it is still possible to mine Bitcoin on mobile devices, it is first necessary to have a basic understanding of what Bitcoin mining is and how it works.
Bitcoin mining is the process by which new Bitcoins are created. Miners achieve this by solving a complex mathematical problem that is used to verify transactions on the Bitcoin network.
For their efforts, miners are rewarded with a certain number of Bitcoins. The difficulty of the mathematical problem that needs to be solved increases as more miners join the network, making it harder to earn rewards.
Can you mine Bitcoin on mobile?
The short answer to this question is yes – it is still possible to mine Bitcoin on mobile devices. However, whether or not it is worth doing so is another matter entirely.
Due to the increasing difficulty of the mathematical problems that need to be solved in order to earn rewards, as well as the increasing competition from other miners, it has become increasingly difficult to mine Bitcoin profitably using anything other than purpose-built mining rigs. This is especially true if you are trying to mine Bitcoin using a mobile device such as a smartphone or tablet.
However, there are still some people who are willing to give it a try – even if they are not likely to turn a profit. If you fall into this category, there are a few things you need to know before you start mining Bitcoin on your mobile device.
First of all, you need to make sure that your device meets the minimum system requirements for mining Bitcoin. While most modern smartphones and tablets should be powerful enough for mining purposes, older or lower-end devices may struggle with the demands of mining software.
Make sure that your device has enough storage space for the blockchain (which currently stands at around 200GB) and that its battery life is good enough to last for several hours at a time (as mining can be quite power-intensive).
Secondly, you will need to choose a suitable mining app. There are a few different options available, but some of the most popular include Bitminter and EasyMiner.
Once you have installed your chosen app, you will need to create a wallet in order to store any Bitcoins that you mine. Again, there are several different options available here but one of the most popular is Blockchain Wallet.
Last but not least, you will need to join a mining pool in order to boost your chances of earning rewards. Mining pools are groUPS of miners who work together in order to increase their chances of finding blocks and earning rewards.
One of the most popular pools for mobile miners is Slushpool.
Conclusion: Can We Mine Bitcoin on Mobile? Yes we can mine bitcoin on our mobile phones by downloading an app that will allow us too but due too bitcoin’s high market value it probably isn’t worth doing so unless your phone happens too be really good at mining.