Are you looking to mine Cryptocurrency? Know below the three best software to do it.
Cryptocurrencies have revolutionized the economy of the 21st century and more and more people are interested in this type of virtual currency. Now, given the complexity of accessing them and their high price, mining them becomes an option that many consider with special interest despite the complexity that this represents. How hard is it to mine a cryptocurrency? What softwares exist today to make the work easier? Is my computer capable of mining cryptocurrencies? In the following note we discuss everything you need to know to save a good amount of time and, at the same time, optimize your results.
Today we can say that there are almost no people who do not know, at least remotely, cryptocurrency. Since their emergence in the first decade of the 21st century, these virtual currencies have revolutionized modern economic thought while at the same time they forced the different countries of the world to update their legislation. However, what exactly is a cryptocurrency? How can I access them? What does it mean to undermine a cryptocurrency? In the following article we will explain in a simple way these and other concepts that you must have clear before introducing yourself in this young sector of the world economy.
What is a cryptocurrency?
Like everything in life, it is always best to start from the beginning to avoid making mistakes later. It is worth mentioning that the term “cryptocurrency” comes from the English crytocurrency and refers neither more nor less to a digital medium of exchange. It is very common to find it in the media as “cryptocurrencies” or “virtual currencies” and the first one that broke into the market is the one that today is the best known of all. Of course, we are talking about the famous Bitcoin cryptocurrency, which was born nine years ago back in 2009.
As you should know, then other cryptocurrencies have emerged, some more similar in their characteristics and security protocols, while others show some extra variants, although in essence all derive in some way or other from Bitcoin. It is no coincidence, then, that this cryptocurrency is the one that works best in the international market, showing a great difference with others such as Ethereum, Litecoin, Ripple, Nem and Dash, among others. Today, the difference in value between Bitcoin and the others is, at least, four times the value, reaching a price close to 9000 dollars.
How does a cryptocurrency work?
For many people, the operation of these virtual currencies is a great mystery and seems to represent an enormous difficulty, However, as we will see below, it is not something so complex to understand. The mode of action of a cryptocurrency is based largely on the blockchain technology also known as blockchain. This method creates a kind of digital books that register the different transactions of a cryptocurrency between two parties. These exchanges are forming a series of groupings. better known as “blocks”, which are encoded with a secret code that is linked between the different parts.
This information that is generated by the exchange between two parties and which in turn is registered in the aforementioned block chains, will then be stored in millions of computers, which means that it is “open” for everyone, instead of be stored in a unique place, as happens with traditional money. As its creators and users maintain, this methodology generates a much more transparent and secure process, since arbitrary modifications can not be made. This, in turn, produces the lack of weak or vulnerable points, since any type of human or computer error is reduced to a minimum. It is usual to speak of a democratic currency, since any change that one wants to make is not possible without the consensus of the majority.
How do I access a cryptocurrency?
This type of virtual money is obtained through what is commonly called “mining”. Thus, the “miners” of cryptocurrencies have the function of validating the transactions that are generated between the different users. This is not something as simple as blowing and making bottles, since for this it is necessary to be able to master certain algorithms that have some difficulty, as well as having a computer that supports a continuous and demanding work.
In principle, we can say that the most common way to access and exchange Bitcoins or other digital currencies in the international market is through the so-called “exchange houses”. What are they? Neither more nor less than exclusively digital platforms, like the currencies with which he works, which act analogously to the exchange offices that you visit before making a trip abroad. However, there is also a way to access them through mining and using specialized mining software.
How can I mine cryptocurrencies?
This question is one of the most googled at present, since if a fine and dedicated work is done, you can access a cryptocurrency without putting money in exchange. Now, as we have been telling you throughout this article, this is not a simple task at all. To begin with, we can mention that, just as the traditional international monetary system can print more money as this is necessary, in the universe of cryptocurrencies it does not work that way. Cryptocurrency, to be exact, is not “created”, it is “discovered” by mining.
What computer do I need to mine cryptocurrencies?
In order for mining to obtain the desired result, miners must use, as mentioned above, computers that have very powerful processors, which are necessary to solve the different algorithms that make up the security system. Such computers can not be portable computers under any circumstances, because for more power they have, they will end up breaking in the medium term, which is always a headache. Neither will you be able to mine with a CPU processor, since they do not work for them. The necessary equipment is a desktop computer that has a dedicated graphics card. We recommend you check the corresponding updates in different forums to keep you always informed.
Once the algorithms are solved, you can continue with the next block of transactions that will be included in the blockchain chain and obtain, in that way, the reward in the cryptocurrency that you are trying to undermine. In this way, security and transparency are maintained. Bitcoin, in its beginnings, gave 50 cryptocurrency to those who collaborated. Currently, given the popularity of the network, that reward has decreased significantly.
What are the best software to mine cryptocurrencies?
After understanding how this system works, you’re probably wondering what are the best software that can make the task easier for you. One of them is IQMining, which does the hard work for you and allows the withdrawal of money in a single hour. One of the most beneficial features is that it calculates the cost that the mining work will have for you, either in time or in resources used: internet and electric light, at least. While IQMining operates for powerful computers, other software manages to supply the lack of advanced technology.
That is the case of MinerGate, which allows mining in computers with CPU and even from your mobile phone, as well as from the cloud. Although the results will not be the same as with a first level computer, it is a good alternative to start until you can get one. In that direction, another program that is highly recommended to obtain excellent results, is Hashflare, which allows you to mine the most popular cryptocurrency, at the same time you can withdraw the money immediately. It should be noted that the three software mentioned here are free and recommended by the most trustworthy websites and forums, which undoubtedly provides a more than important confidence boost.
Disclaimer: InfoCoin is not affiliated with any of the companies mentioned in this article and is not responsible for their products and / or services. This press release is for informational purposes information does not constitute investment advice or an offer to invest.