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Bitcoin mining and mining method

The more a person thinks that he has been able to understand the technology and reach the latest it has reached, the more technology surprises him with new innovations that he had never imagined. These lines introduce the concept of Bitcoin, and ways to mine and mine it.

What is bitcoin?

Bitcoin is the most famous digital currency at all and it has no absolute or fixed value, but each Bitcoin equals approximately $800 that can be increased or decreased. Restrictions imposed by physical banks on currencies and wire transfers, in order to facilitate the work environment on the Internet.

The most important question is where Bitcoin comes from and how it can be obtained, mined, and benefited from its profits, an important question that the following lines will answer.

What is bitcoin mining?

The use of term mining has been used metaphorically with Bitcoin, as mining is extracting minerals from the ground, and this term has been given to Bitcoin due to its precious value that reaches the value of minerals, and obtaining it is not an easy matter as explained in theory.

Bitcoin mining is the production of more of this digital currency and its introduction into the electronic currency market, using certain methods that we will explain later, and anyone can work on Bitcoin mining, but the process itself is difficult and complex and needs experts in this field.

The mining process is carried out by finding a block data package that does not exist on the blockchain network, and the blockchain is the main data package in which all bitcoins data circulating in the market are recorded in order to prevent fraud and fraud during dealing with this currency. He gets a prize of the same type of coin he mined, hence the profit process.

What is bitcoin mining?
Bitcoin mining and mining method

Bitcoin mining and mining methods

There are several ways to mine Bitcoin and get profits from it, and the most important of these methods is individual or solo mining, and the second method is cloud mining, and this is a detailed explanation of both methods.

Solo mining

Simply, individual mining, as indicated by its name, is mining that the individual does alone and without the help of anyone, but this type needs some understanding of the term Bitcoin and the whole issue of digital currencies, as well as experience in software and network development, and finally, it needs a computer It has high capabilities, and can work for hours and hours as the process of home or individual mining takes some time.

cloud mining

This type of mining does not require the person to do anything but finance the mining process, which is carried out by specialized companies, and all he has to do is finance the mining process by purchasing mining contracts and sharing profits in the end, as there are giant companies working to provide mining equipment worth thousands of dollars in order to carry out mining operations on a large scale, and there is no doubt that such companies achieve fantastic profits.

But you should be careful, as there are some modern companies that set up their nets to prey on newbies, and next, we present the most famous cloud mining companies.

The most famous cloud mining companies

genesis mining

Genesis Mining is the most famous cloud mining company in the world because of its credibility in this field. The company has proven its worth for the trust that the masses have given it, through years of work and struggle, where the masses shared the profits and users made sure of its credibility and did not prove cases of fraud by this company.

The company supports four languages, including Arabic, in order to expand and increase the number of customers and users, and all the investor has to do is determine the value of the payments - and he can pay their value through a credit visa, or prepaid cards - and the type of currencies he would like to mine for such as Bitcoin, Litecoin and others of digital currencies, and relaxes while waiting for his dues to enter his electronic wallet.

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