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What are the types of it?
These are the most common types of cryptocurrency mining software, used by many people from 2009 to our days:
- The central processor of any computer, but this was relevant earlier, since now there is very little such power in order to make really good money on it;
- Video cards, the main peak of which was in the early 2010s - with up to 6-8 GPUs installed on each computer or "farm" (but again, there is not enough power to generate a bitcoin block);
- FPGA - special devices for hash calculation used several years ago, characterized by low power consumption and high price;
- ASIC miners are equipment for industrial mining, the principle of which is to optimize calculations using a special algorithm (SHA256 for bitcoin, Script for Litecoin, etc.).
The purpose of existence of pool mining software
A mining pool today means a special server that is used to distribute tasks for mining bitcoins or other types of digital coins between the pool members. Obviously, the greater their number, the higher the efficiency of the tasks being solved and, as a consequence, the chance to get good earnings.
To work effectively as part of a pool, it is necessary to correctly configure the computer, allowing it to perform mining with maximum performance. To do this, it is enough to follow the instructions for setting up the equipment, which are sure to come to any participant after joining the pool.
How you can start to mine bitcoin by yourself
First of all, first of all, you need to think about what software you will work with, because today there are really many convenient and profitable projects for making money on mining. Some of the most popular and recognized choices have even won awards. Before downloading such programs, you should check the various tops and lists on review sites.
The full list can be found on the official Coin Trade & Mine website: https://coin-tradeandmine.com/.
Can you earn a lot of money from mining?
The best option with a lot of nuances, but a high probability of earning is the Bitcoin pool. You should care about these things before you’ll choose your way:
- Different commissions and fees;
- How you can withdraw your money;
- different interfaces.
Beginners should not take on new cryptocurrencies, but it is quite possible to try their hand at a standard set of Bitcoin mining software.
What you should know to start your solo mining processes
System Requirements
Only little-known and new cryptocurrencies can be mined on a medium-sized home PC. Bitcoins require a minimum of 4GB of RAM and 2GB of video card memory.
Traffic of your internet
Mining traffic is connected with the number of connected devices, their performance and the complexity of solving different actions. If the equipment is correctly configured and the pool is selected, 10 kb / s Internet speed is sufficient with a standard Dial-Up connection. It must be wired, without failures and breaks.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.