Bitcoin is a cryptocurrency or a virtual money, and you probably heard about bitcoin mining. Basically Mining is the process to generate or introduce new bitcoins into the system and it also allows Bitcoin nodes to reach a secure, tamper-resistant consensus. Miners are paid a percentage of the BTC transaction as well as a “subsidy” of newly created cryptocurrency.
In recent days the value of bitcoin is increasing daily, though now there’s a sudden crash into the bitcoin market. By Mining Bitcoin you can earn free bitcoins without investing any kind of money. Computers designed for mining, or ‘rigs’ as they’re commonly known, require large amounts of electricity, which will increase running costs. The complexity of mining also rises over time. So you might want to grab some free bitcoins for yourself, then there’s a good news for you, now you can mine bitcoin by using your very own computer. It will use your CPU & GPU processing power to generate new bitcoins, it is called CPU/GPU mining. Here, today i’ll tell you the best method to mine bitcoin in your computer / pc.
But keep in mind that the profit will depend on a number of factors like hash rate – the processing power of your computer, the cost of the electricity as mining consumes a lot of power. More over if you’re planning to mine bitcoin using your computer then you would need a cooling system as bitcoin mining generates a large amount of heat, which can damage your computer. You just need a good graphics card for this, like GTX 1050 or GTX 1060 would be better choice, and any average kind of processor like Intel i3 or i5 should be fine. We would like to tell you, if you’re a MAC user please don’t event think of mining, Macs aren’t event powerful enough to mine bitcoin. So if you’ve the following things, you may start right now.
Learn to Mine Bitcoin in Your Laptop or Computer using CPU/GPU –
Before starting mining, first you’ll need to select your preferred btc mining software. I would prefer you to use Nicehash to mine bitcoin in your PC. Nicehash is a desktop software which combines different algorithms for mining crypto-currencies and allowing transactions between them. Depending upon your hardware, the software auto-selects the most profitable algorithm and maximizes your earnings. Next you’ll need to have a bitcoin wallet, your payments will be sent into that. You can use any BTC wallet, our choice is the coinbase. Coinbase gives you a bitcoin wallet where you can deposit your crypto coins. Just follow the steps below to start now. You can also watch the youtube video embedded below for a quick visual tutorial.
Steps to mine BTC in your PC –
Creating a BTC wallet –
Simply go to coinbase and sign up with your email id to create an account. Now sign into coinbase providing your credentials and you’ll be on the dashboard. Now click on Accounts and From the BTC wallet click on Receive and it’ll show up your Bitcoin wallet address.
It’ll show up a QR code which you can scan to receive bitcoins, in our case you’ll need to copy the numeric code from below.
Setting Up Bitcoin Coin Miner – Nicehash
First of all download Nicehash, the download is available for AMD and Nvidia, so download depending on your PC hardware. After downloading you’ll need to accept the terms and conditions and just install it.
After installing it would look like this, while the legacy version of nicehash looks little different but has same functionality. Now just click on wallet and paste the coinbase bitcoin wallet address that you copied before.
Enter you wallet address and just save it. Now basically you don’t need to do anything with settings. While you can go to bench mark and select whether to use your CPU or graphics card or use both. Selecting both options will give you the maximum profit.
Now just start mining Bitcoins on your computer, Click on start and that’s it. Nicehash will start to mine bitcoins on your computer device. And your payments will be sent to your coinbase bitcoin wallet.
You can also change your bitcoin address if you want. And this is the most efficient method to mine bitcoin on your computer. Keep in mid that bitcoin mining might damage your graphics card or even your computer, No one from Gadgetcubes will be responsible if anything goes wrong. Proceed and follow the method at own own risk.
If you’ve any questions or queries simply put them down in the replies. Others may have the same problem, so they can use the reply for trouble shooting.