Bitcoin mining

What is Bitcoin mining?

Mining cryptocurrency is like mining gold or silver at a mountain. When you start digging into a mountain it's relatively easy but over time you will need more advanced equipment as the process gets dangerous and difficult. Mining cryptocurrency is basically solving mathematical problems and these problems get difficult with time. As the difficulty increases the miner would need fast and reliable technology.

Bitcoins can be mined using of the following methods:

Build a mining rig
Join a mining cloud
To build a Bitcoin mining rig, you need a specialized hardware named ASIC (Application-specific integrated circuit). These miners are faster and consume less power. You will find all Bitcoin mining hardware here Learn about Bitcoin mining hardware If you want to mine altcoins, then you need a GPU. Mining profitability is affected by several factors:

Hardware Cost
Hardware Maintenance
Electricity Cost (the cheaper, the better)
Mining Difficulty (increases every two weeks)
Weather (cold climate is preferable. Mining hardware needs constant cooling for optimum performance)
Joining mining clouds will save you a lot of effort. You don’t have to worry about electricity and maintenance. All you have to do is sign up a contract with hash power that you want. These are the top websites:

http://genesis-mining.com (offers life-time Bitcoin mining contracts)
http://hashflare.io (offers 1 year Bitcoin mining contract)
Maximum Efficiency (offers 3 years Bitcoin mining contract)
Hope this helps
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