Earn Money online mining Bitcoin

Bitcoin is a digital currency and payment network which uses open-source and peer-to-peer technology to operate with no central authority or banks. Management of the transactions and the issuing of bitcoins is carried out collectively by the network. With it being open-source, its design is public and everyone can take part. Through many of it’s unique properties, Bitcoin allows exciting uses that could not be achieved by any previous payment system.

And most interestingly, you can use your computer to “mine” them that can be converted into real cash at any time.

To start mining bitcoin each participant have to open his/her account to start mining using their software, after opening their software they have to choose their wallet, a wallet is just like any ordinary account but that is always secured with military grade cryptographic code.

Bitcoin wallets keep a secret piece of data called a private key or seed, which is used to sign transactions, providing a mathematical proof that they have come from the owner of the wallet.

It’s something considered as more valuable than gold, you are required to solve a mathematical 64-digit numbers. By having your computer repeatedly solve puzzles, you’re competing with other miners to generate the number that the Bitcoin network is looking for. If your computer generates it, you receive 25 Bitcoins.

At the time of this writing one Bitcoin is worth 29189.91 Indian Rupee, so with correct computations currently a pop there’s plenty of motivation to start crunching numbers.

value of bitcoin in INR

Where is the Hack

Here’s the difficulty, however – the behind-the-scenes math is set up to make Bitcoins increasingly difficult to produce. Once there are 21 million in existence, there can’t be any more.

Since it can take quite a while to successfully solve one of these puzzles by yourself and earn your thousand bucks, a number of Bitcoin “mining pools” have sprung up in which people distribute their computing power to find these magic combinations of 64 digits collaboratively.

Once solved, the miners divide their winnings based on the amount of computing power each contributed to the calculation.

Since you’re one of a large number of people in this scenario, the payouts are quite small. The real money is in doing the work yourself, but it’s much more fun to see a steadier (yet less significant) trickle of Bitcoins flow into your wallet.728_90

Watch the video and get an swers to all the questions regarding this currency of future. Find out how to earn even more Bitcoins with http://cex.io Bitcoin Crypto Exchange and leading Cloud Mining service.


10 Brilliant Comments - Join Discussion Now!

  1. Hi Rakesh,

    You have provided the information about an interface between many people.

    It will be helpful to use Bitcoin.

    Thanks for the share.:)


    • rakesh says:

      Hi Ravi Basically CEX.Io can help all those who are involved in bitcoin mining a lot and that is the beauty of this site. ;)

  2. This post is very helpful,Thank you very much for posting this article..

  3. Mi Muba says:

    Hi Rakesh

    The most amazing part of this post is your highlight the minuses also to make your readers take a decision to either subscribe this service or not by their own.

    Online money transaction especially in least developed and developing countries is not easy as there are so many requirement which these countries can’t meet and eventually bloggers have to rely on a few specific services.

    This is a direct interfact and will set the trend of relying on third party minimum with the passage of time.

    Thanks for sharing such an informative post.

  4. Anurag kumar says:

    Heard about bitcoins at lot but don’t know how the heck they work. Thanks for explaining things in simple manner although I didn’t get the whole thing. It will take time for me and other people to understand what is this all thing about and how to convert real money rupee in bitcoin.

  5. Gaurav says:

    Hi Rakesh,
    Thanks for sharing the article is about to Earn Money online mining Bitcoin. Very interesting article. I liked it. I hope it will help me. You are doing a great job rakesh. Plz maintaining you blog.

  6. Sohail says:

    I have tried many think making money in Asia via bitcoin is more difficult then earning via adsense.

  7. While you can still mine Bitcoin on a computer, nowadays it is really only worth it with a dedicated ASIC unit such as an Antminer. I am using an Antminer S7 and the rewards are barely covering electricity costs.

  8. Aaron says:

    There will only be 21 million Bitcoins, so it is interesting that Bitcoin mining will only be an option for the next couple years – current estimates are that all Bitcoins will be mined around 2021. Also, a very interesting comment by Jeffrey – I’m sure few people consider their cost of electricity while mining.

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