How to mine Bitcoin? Clear your main doubts and earn more with cryptocurrency

Bitcoin is the main currency in the market and it is possible to mine this cryptocurrency on your own, but for that you have to pay attention to some points (Credit: Pexels )
Gilmara Santos

A survey carried out by the São Paulo School of Economics (FGV EESP) with Hashdex showed that cryptoactives are already the third favorite investment of Brazilians, being the choice for 27% of those who invest in platforms.

Digital assets are only behind stocks (72.05%) and fixed income securities (40.45%). Bitcoin, which is ahead in the survey, was the best investment asset in the first half, with an appreciation of 15.78%.

“The cryptocurrency market has been drawing the attention of investors both for its potential, as well as its security and freedom. The sector has also become attractive to younger people due to the fact that it is a new technology inserted in the internet, which is already part of the reality of this profile, and because of its easy access”, says Lucas Xisto, Head of Asset Management at Transfero, a company international financial solutions based on Blockchain technology.

Bitcoin is the main currency in the market and it is possible to mine this cryptocurrency on your own, but for that you have to pay attention to some points. Recently, for example, China announced a ban on Bitcoin in its territory, illegal transactions involving Bitcoin and derivatives.

How to mine Bitcoin? Clear your main doubts and earn more with cryptocurrency

But calm down, this rule applies only to Chinese territory. In Brazil and in most countries, cryptocurrencies are in full swing and, to help you better understand what mining Bitcoin is and how it works, Ricardo Hiraki, financial consultant and director of Plano Investimentos, answered the main questions. See below for the answers to the query:

– What is Bitcoin mining?

It is putting the computer processing to do the data decryption and thus manage to keep the process traffic. Bitcoin works between transmitting encryption between two ends. And mining is putting the computer or cell phone to do the decryption.

– How to mine Bitcoin?

You must have an internet access point, have suitable browsers or software installed, and a processing system. It can be a simple computer or cell phone, but the processing is very low. Many invest in high-throughput hardware and can speed up data encryption and decryption

– What equipment do I need to mine?

Have access to the internet, the platform access software and any equipment that is able to do data processing.

– How to mine Bitcoin by mobile?

It is possible to mine Bitcoin via mobile, but the efficiency is very low. cell phone life may not be long enough to make it profitable. And that is why it is normal for people to invest in more suitable equipment, they are not technical, but it can cost between US$ 2,000 and US$ 4,000

How to mine Bitcoin? Clear your main doubts and earn more with cryptocurrency

– Can anyone mine Bitcoin?

Yes, anyone with this equipment, software, internet, electricity and time can operate. The main characteristic of cryptocurrencies is that they are decentralized (no government behind them).

– How much does a Bitcoin miner earn?

This relationship is much more complex. There are several calculation formats. It depends on how much data his equipment can handle. It depends on efficiency. Places with cheaper energy and cooler tend to increase earnings.

– How do I know if my PC is mining Bitcoin?

There are several platforms that do this and automatically when you do all this processing part it is possible to transfer it to the currency portfolio. It has some tutorials that show you how to install software, for example.

– Is it worth mining on your own?

In theory, yes, it was already worth it, today there is more competition. Even with equipment with low processing capacity, the result tends to be positive. As energy goes up, equipment costs increase and the currency has not appreciated, it tightens the profit margin a little more. But on average it’s profitable and worth doing on your own.

– Is mining Bitcoin a crime?

Depending on the law of each country, China has just announced that mining Bitcoin there is a crime. But most other countries have not banned it, each country is looking to regulate this market.

How to mine Bitcoin? Clear your main doubts and earn more with cryptocurrency

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