GUIDES

Bitcoin Mining Pools – MyBitcoin User, Investor & Trader Knowledge Base

Bitcoin Mining Pools – MyBitcoin User, Investor & Trader Knowledge Base

Chapter 5.2 In the last chapter, we talked about crypto mining pools and how they work. We talked about how thousands of miners worldwide pool their resources together to increase profitability and raise the chances of winning a block reward. Now, we’re going to talk...

What are Mining Pools? MyBitcoin User, Investor & Trader Knowledge Base

What are Mining Pools? MyBitcoin User, Investor & Trader Knowledge Base

Mining pools play a crucial role in the cryptocurrency industry. We’ve talked about mining pools several times throughout the first four chapters of this guide. In this chapter, however, we’re going to explain mining pools in greater depth. Mining pools, essentially,...

Bitcoin Cloud Mining – MyBitcoin User, Investor & Trader Knowledge Base

Bitcoin Cloud Mining – MyBitcoin User, Investor & Trader Knowledge Base

Chapter 4.11 Over the last 10 chapters, we’ve explained how to buy your own cryptocurrency mining hardware and begin mining different cryptocurrencies. We’ve explained how to choose the best mining hardware, how to download the right software, and how to make sure...

How to Mine ZCash? MyBitcoin User, Investor & Trader Knowledge Base

How to Mine ZCash? MyBitcoin User, Investor & Trader Knowledge Base

Chapter 4.7 Zcash is one of the world’s most popular cryptocurrencies to mine. Listed under the acronym ZEC, Zcash was originally based on the same code as bitcoin, but with added anonymity features. Today, Zcash has a similar reputation to Monero: it’s a...

How to Mine Siacoin? MyBitcoin User, Investor & Trader Knowledge Base

How to Mine Siacoin? MyBitcoin User, Investor & Trader Knowledge Base

Chapter 4.6 SiaCoin is the cryptocurrency that powers Sia, a decentralized cloud storage-style system. Today, SiaCoin is a popular cryptocurrency to mine. Its difficulty is low compared to larger cryptocurrencies. Sia is also one of the most promising cryptocurrency...

How to Mine Litecoin? MyBitcoin User, Investor & Trader Knowledge Base

How to Mine Litecoin? MyBitcoin User, Investor & Trader Knowledge Base

Chapter 4.5 Litecoin was one of the first major altcoins to challenge the dominance of bitcoin. Unlike Dogecoin, Litecoin was built as a serious competitor to bitcoin when it launched in 2011. Litecoin was actually built on the original bitcoin code. The developers...

How to Mine Monero? MyBitcoin User, Investor & Trader Knowledge Base

How to Mine Monero? MyBitcoin User, Investor & Trader Knowledge Base

Chapter 4.4 Monero is one of the world’s largest and best-known altcoins. Today, many people – including hobby miners and big mining farms – mine Monero to generate a consistent profit. Do you want to mine Monero (XMR)? Whether you’ve got a high-powered PC at home or...

How to Mine Ethereum? MyBitcoin User, Investor & Trader Knowledge Base

How to Mine Ethereum? MyBitcoin User, Investor & Trader Knowledge Base

Chapter 4.3 In the previous chapter, we explained how bitcoin mining works. We explained that bitcoin miners buy ultra-powerful, specialized computers. They run bitcoin mining software on their computers, leave their computers running, then generate a small amount of...

How to Mine Bitcoins? MyBitcoin User, Investor & Trader Knowledge Base

How to Mine Bitcoins? MyBitcoin User, Investor & Trader Knowledge Base

What Do You Need to Mine Bitcoins? If you want to mine bitcoins, then you only need four basic tools: Bitcoin mining hardware (like a high-end gaming PC or ASIC) Bitcoin mining software (like BTCMiner or BFGMiner) A bitcoin pool A bitcoin wallet Next, we’ll take a...

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