How to Mine Cryptocurrency on Phone?With economies shifting to the virtual currencies, more people show interest in cryptocurrencies. They want to get involved as early as possible.
Well, people having enough spare money can directly buy the crypto like Bitcoin. But, those who have less can’t afford the risk. They look for alternative ways to hold crypto. Cryptocurrency Mining is one of the way!
Understanding Cryptocurrency Mining on Phone
Cryptocurrency mining is a complex and energy intensive process but rewarding. The process involves solving of complex problems for validating transactions on the blockchain network.
Thus mining requires powerful computers with high configurations and GPUs. The miners are in turn rewarded in the form of coins like Bitcoin or Ethereum.
Cryptocurrency Mining on Phone is the shift from the traditional mining. It just needs your smart phone to get started.
Mobile mining allow users to share their mobile phone’s computational power to the mining process. In return they receive rewards in the shape of cryptocurrencies directly into their phone.
How to mine cryptocurrency on Phone: A Guide
Lets explore the step by step guide on how to mine cryptocurrency on phone.
Step 1: Choose a cloud mining App
Select the mining app that pays in real. These include MinerGate, Crypto Miner and EasyMiner.
Step 2: Install the App
Install the mining app, you picked, from the Play Store.
Step 3: Sign Up & Log In
Register on the app and safely record your credentials. Then log in to the app with your credentials.
Step 4: Select your Crypto
Select the appropriate crypto you want to mine on phone. Popular ones include Bitcoin and Ethereum. You may choose other ones also like Litecoin.
Further, you can join the mining pools from the app. Mining pools allows to combine the computational power of its participants to get more returns.
Step 5: Start Mining
After choosing the cryptocurrency and/or mining pool, it time to start mining. The mining process will shown as running on the app.
Step 6: Monitor progress
Regularly keep checking the mining process as well as your mobile phones health. Look up for the hash rate and amount of rewards earned.
Step 7: Withdraw Rewards
When the earnings reach to the threshold limit, you can withdraw them.
Step 8: Store your earnings
Store your earned rewards, that may be in the form Bitcoin, in a secure and reliable custody. The well known crypto wallets are Metamask, Coinbase and Ledger. You go for hardware wallets as well which are more secure than cloud based wallets.
Which Mobile Mining Apps to consider?
There are many mobile mining Apps that mine cryptocurrencies on the phone. A few are:
Pi Network- The mobile Pi App is used to mine Pi coins on phone. You can enhance the rate of mining Pi by referring to other users.
Brave Browser– It is a crypto-browser that rewards BAT Tokens to its users. You just need to search through the Brave Browser and in turn you would be rewarded BAT Tokens. It is a Web3 type of browser, where the users of the web also get rewards.
MinerGate- Can mine Bitcoin, Ether and many other cryptocurrencies.
While choosing the mining app we have to consider following features;
- Security of the app like unauthorized access and potential malware.
- Simple User Interface for monitoring the mining process and which requires less technical expertise.
- Interoperability of the apps while switching from one software model to other like from Android to Apple.
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Impacts of mining using phone and its future
The process of mobile mining uses the computational power of the phone. As such it may lead to the less efficiency of mobile phone including less battery back up and heating up of phone.
In the long run it could lower the battery life and overall functionality of the phone. To overcome this we may need to optimize the setting of our phone. This includes reducing screen resolution and putting mobile of battery saving mode.
With the advancement of crypto-world new mobile based apps are coming for mobile mining. Even the new cryptocurrencies which are not listed on any exchange develop their phone based mining app at the first place.
Early miners get maximum benefit when the coin gets listed and the developers of the coin use it for their publicity and community building like Pi app.
FAQs-(How to Mine Cryptocurrency on Phone?)
Is it possible to mine crypto on a phone?
Technically, yes it possible to mine crypto on a phone. However, mining the top cap coins like BTC and ETH using phone may not be that rewarding. It is better to mine only those crypto which are at their launching phase yet fundamentally strong like Pi coins.
Which cryptocurrency is better to mine on mobile?
It is better to mine only those crypto which are at their launching phase yet fundamentally strong like Pi coins.
Can I mine BTC for free?
Mining bitcoin for free is a bit challenging but not impossible. we can go for Bitcoin faucets, Airdrops, staking and lending, joining cloud mining pools to mine Bitcoin.
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