Mining Bitcoin is a great way to earn blockchain-based passive income. However, some people still think that BTC mining is hard, complicated, and only accessible to computer experts and people with a lot of crypto experience. Fortunately, it doesn’t have to be this way – reading through these 10 tips about Bitcoin mining will let you start mining BTC effortlessly!
Bitcoin (BTC) is a payment network on which payments can be made without needing a middleman. Peer-to-peer payments are made digitally in a way that can be compared to making a payment with physical cash; it cannot be reversed just like you cannot take back a €5 bill after you have paid for something. An important part of this process are the bitcoin miners. When you read about miners, you most likely also read about this thing called “hash rate.” In this blog article, we will explain what the hash rate is and why it is so important for Bitcoin.
The fact that bitcoin (BTC) needs electricity shouldn’t be a surprise. This energy is required to perform complicated calculations, which make the Bitcoin network one of the most secure payment networks on earth. While the discussion around climate change is developing, many have complained about the amount of energy that bitcoin mining needs. However, the electricity that the majority of bitcoin miners use apparently comes from clean sources.