Mining, followed by Faucet, and lastly Trading.
1: MINING:- mining is the first ever way to get bitcoin or any coin. BITCOIN came to existence through the process of mining. This mining is done by computer.
The said computer is setup with some application or program which will make the computer to solve some mathematical problem and get block of bitcoin as a reward for doing that. A block contains about 25btc.
Mining is done in three major ways;
A) Solo Mining: solo mining is a condition where you setup your private pc's to be mining for you by solving mathematical problems and get blocks of bitcoin as a reward. I will disappoint you at this junction that solo mining is not going to give a dine these days. Reasons been that people has mine, mine and mined. So the difficult rate in which mining takes this day doesn't make it easy for a solo miner to come out with something even with five years of consistent mining without interruption.
B) Pool Mining : pool mining is a condition where two or more users ( up to thousands) come together to dig for coin by solving mathematical problems together which your computer too will also take part and share the rewards base on the contribution of each user's when the mining is going on.
This is one of the reason why a solo miner will never get anything even in thousand of years. It's just like a single person competing with thousands of people in working/searching for just one thing. How do that sound ? Impossible? Thanks you said it, yourself. it is an impossible task. Though, in the early days of bitcoin it is easy to get but these days ? The digging has gone more than far far.
C) Cloud mining: Cloud mining comes as a result of advancement in technology. It is a condition where some companies setup there mining equipments and ask you to pay a certain amount in other for them to mine for you at a certain rate per seconds. Let me warn you here that there are a lot of scammer surrounding this form of mining.
There are thousands of case been reported on weekly and monthly basis about cloud mining website going down or disappear without any notice to their clients. As at the time am typing this post a very popular mining site known as hashocean.com went down. And the beautiful part of those site is that when they gone they gone till after forever.
If you will listen to me in this piece of advice "I will tell you mining is just a waste of precious time" yes, it is not profitable. It consumed your data, your electricity/battery, your time, you will even suffer psychologically.
Yea, I guess we should call it a day at this point in other not to make the story too long. Next time we will be discussing on Faucet and Trading. Till then, I bless God on behalf of you and I. Glory be to Him.
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