How to start Bitcoin mining?

How to start Bitcoin mining?

Bitcoin mining is the process of acquiring the Bitcoins without spending any money. To do
so, making some serious effort will be required. The coins that you acquire can be used to make payments or they may be sold to the people who are willing to buy them. In order to start Bitcoin mining, you need to know how you can get it done. In this article, we’ll shortly guide you through the whole process.

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Choose a wallet

First of all, you will need a place to store your altcoins, so choose a Bitcoin wallet and sign up for it. You can either choose a big wallet or you may go for a small account. It is up to you.

Picking the pool

There are multiple pools available to start Bitcoin mining. Pick one up from the Bitcoin wiki and sign up for it. You may not like the idea of mining solo, especially if I tell you that you will need a powerful hardware and software to start mining.

Funding account

Tell the pool about your wallet. Ask them to send you your mining reward there.

The threshold

The threshold is the frequency on which you receive your money. It can be as low as 0.05 BTC but cannot be lower than this. Usually, the default threshold is 0.1 BTC so if you do not understand how is it working, leave it as default.

Pick the software and set up mining

There are a lot of mining software available to you. Grab one of them and set up your mining. Use your pool as a server and your registration username as your worker. Enter the authorization password to keep it secure.

Checking progress and optimizing

There will be stats available to allow you to check on your progress. And you should keep on checking on it frequently. Also, optimize it to get better results. It gets a bit technical here. Search for the mining hardware comparison and find your graphics card there. Change the settings and switch it accordingly to get the best out of it.

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