Bitcoin Mining For Newbies Comments Off on Bitcoin Mining For Newbies

Bitcoin Mining For Newbies

Posted by on May 7, 2016 in Bitcoin Newbies

In the era of full technological development, each revolutionary idea seems to overwhelm people across the globe. Among many other ideas, the bitcoin seems to stand out from the crowd. Basically a bitcoin is a virtual coin which whom you can make different transactions.

You can also perform the process of mining where you can earn more bitcoins and use them as you wish. If you are a beginner in mining bitcoins, here are some tips that may help you a little bit.

These tips are written by an experienced bitcoin miner. However, note that this is not a full tutorial or anything like that. This article is written for the educational purpose only and serves as a guide for rookies who developed interest in bitcoin mining.>/p>

Create a bitcoin wallet

First of all, in order to start mining and earn bitcoins, you need to create a bitcoin wallet. Basically the wallet is a storage place where you can put the bitcoins you earn. There are many websites where you can do this so is up to your choice how you create it. Be careful when creating a wallet to create a copy and save it in your computer. This will prevent you from losing the wallet which major consequence will be to lose all the bitcoins so to lose all your money.
Join a pool
Now that you have the wallet is time to earn money in order to put them there. The mining of the bitcoins will start when you will choose to join a pool. Basically a pool is a group which focuses to make more bitcoins by using their knowledge about computers. You will have to solve basic and simple algorithms and combine your work in order to create bigger algorithms. If you do not want to join a pool, remember that bitcoins are awarded in blocks and alone you do not have so many chances to earn that.

Search for a helpful program
There are different programs that may help you to earn the bitcoins if you are a beginner. That is how the program will allow you to learn quickly and easy how to earn the bitcoins. An example of program is called GUIminer, and you can simply download it on your computer. After you download it, you can use it freely. It is user-friendly so you will have no problems using it.

You may know now some of the basic ideas you need to know for mining bitcoins. If you are a beginner, for sure these steps will help you and in time you can become a real professional. You can advance and pass to the hardware mining and for sure you will earn more bitcoins. This virtual money can then transform into a real asset if you know well how to use them.

Even if this is the virtual world, you have to take all the financial precautions in order to be successful. Otherwise, you can lose everything in the blink of eye.

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