How to start Bitcoin Mining

Introduction to Bitcoin Mining

Why Bitcoin is mined?

Bitcoin mining is the backbone of the Bitcoin network. Miners provide security and confirm Bitcoin transactions. Without Bitcoin miners, the network would be attacked and dysfunctional. Bitcoin mining is done by specialized computers. The role of miners is to secure the network and to process every Bitcoin transaction. Miners achieve this by solving a computational problem which allows them to chain together blocks of transactions (hence Bitcoin's famous “blockchain”). For this service, miners are rewarded with newly-created Bitcoins and transaction fees.

Big changes in Bitcoin mining

However, Bitcoin mining has evolved significantly over the past decade. What started in 2009 as a competitive hobby for tech-savvy enthusiasts has now become a sophisticated, industrial-scale venture that requires specialized equipment and significant electrical power which has, in turn, given rise to a new industry - cloud mining.

Rise of Bitcoin cloud mining

This transformation is a response to the increasing difficulty and resource requirements of Bitcoin mining. Cloud mining offers a unique solution by allowing individuals to participate in cryptocurrency mining without the need for large upfront investments in hardware or technical expertise. As part of this emerging sector, our platform provides access to shared mining infrastructure in remote data centers, enabling users to purchase or lease mining capacity and earn a share of the rewards.

This approach not only democratizes the mining process but also significantly reduces the barriers to entry, making Bitcoin mining accessible to a broader audience. The rise of cloud mining is a testament to the ever-evolving nature of the Bitcoin ecosystem, adapting to the needs and limitations of miners and investors alike.

Types of Bitcoin mining

Understanding Traditional Bitcoin Mining

Traditional Bitcoin mining involves setting up physical hardware, managing electricity costs, and dealing with heat and noise generated by the machines. While it offers direct control over mining operations, it comes with substantial challenges:

• High upfront cost for purchasing equipment.
• Ongoing electricity and maintenance expenses.
• Technical knowledge required for setup and maintenance.
• Space and infrastructure to house mining rigs.

The Advantage of Cloud Mining

Cloud mining, on the other hand, offers a more convenient and efficient way to mine Bitcoin:

• No need for expensive hardware purchases.
• Elimination of electricity and maintenance costs.
• User-friendly platforms with minimal technical requirements.
• Flexible plans to suit different budgets and investment strategies.

By choosing cloud mining, you leverage the expertise and resources of established mining operations, freeing you from the complexities and costs associated with traditional mining.

Getting Started with Cloud Mining

Creating a Bitcoin Cloud mining account

To get started with Cloud Mining, you first need to create an Bitcoin Cloud mining account in order to keep the Bitcoins you mine safe.

Open the Bitcoin Cloud Mining Platform by downloading the app from Google Play or App Store, or if you are on desktop, go directly to the web platform.

When the app is downloaded or the web platform is open, you will be presented with sign in screen. We support the most popular sign in methods, such as Google Sign-in and Signing in with Apple Id. Choose your preferred authentication method and you will be sent directly inside our platform.

Getting to know Bitcoin Cloud Mining and Bitcoin Mining contract

On the main screen of the platform you will be presented with all available Mining contracts, including our free offerings.

Mining contract represents ownership of Mining power. Each Mining Contract has associated mining power, which is usually represented as GH/s (Gigahash per second) or TH/s (Terahash per second). The higher mining power you have, the more Bitcoin you will mine as your mining rewards are determined by your share mining power in the whole Bitcoin network.

Bitcoin block is mined approximately every 10 minutes, and mining each block rewards the miner 6.25 Bitcoin. However there's so many miners and so vast Mining power on the network that the chance of you mining a Bitcoin block on your own is very low, thus all the cloud mining miners are connected on a pool, where they combine their power and share the rewards.

When Bitcoin block is mined in the pool, the pool will check how much work each miner contributed, and based on that split the reward amongst everyone in the pool. That is exactly the reason why the more mining power (or hashrate) you have, the more you will be earning.

Claiming your first Bitcoin mining contract

Now that you understand the basics of Bitcoin mining, to get taste of mining, I suggest you to claim the free contracts simply by clicking it, and you will be taken to the mining contracts page.

In the contracts page you can see how much Bitcoin each of your Mining contract has earned. The balances will be updated on real time, and the mining will start immediately.

Now click on the lower left corner to open the main Mining page again where you can see all the contracts.

When using the platform on mobile, you have option to watch ads to earn more free Bitcoin mining contracts, when they are available.

Now that you have got taste of the free mining, you want to get some of our more powerful paid mining contracts.

In the page there's a slider you can use to decide the mining power you want to purchase. Just move the slider to the right and the mining power increases, however this of course comes with a price, thus its important to find the amount you are willing to invest into Cloud mining.

When you have chosen the plan you want to get, just tap subscribe on the lower right corner of the platform and follow the payment steps and the more powerful paid contract will appear on your contracts page. You can purchase as many contracts as you want.

Now that you have the mining power you want, you can sit back and relax. The mining will start immediately and Bitcoin amount will start growing on your wallet.

You can come back to the platform every now and then to see your Bitcoin grow, but we will handle everything, and after purchasing the contract, and there's no other fees besides when you want to withdraw there's a very small network transfer of 0.00000020 btc on Bitcoin Lightning network.

When you have mined enough Bitcoin, and you are ready to withdraw, its super easy. Just open the wallet screen by tapping the bitcoin amount on upper right corner, or choose wallet from lower right corner. There you can tap the 'Withdraw' button and you will be presented with withdraw options. The best option is definitely Bitcoin Lightning network, as it has the lowest fees.

You can withdraw your Bitcoin to centralized exchanges such as Coinbase, Binance or any other which support Bitcoin deposits, or your own personal wallet.

Now you just need your Lightning address, which you can get from Binance for example, by on their site choosing Deposit → Bitcoin → Lightning network, and you will be presented with your personal Lightning address.

Now just copy the address, and paste it in the withdraw screen, choose the amount you want to withdraw, and tap confirm. Within seconds your Bitcoin will arrive on your Bitcoin wallet.

Earning even more

Invite your friends to earn referral bonus

In earn more screen in lower right corner you have your special referral link. Use it to invite all your friends to the platform, so you will earn 10% of everything they mine through the platform.

Any questions? Our support is dedicated to answer all your questions, so just send us email at [email protected]