Mining Bitcoin

 In addition to buying, digital money can be obtained through mining. However, every year this process becomes more complex and energy-intensive. For mining, the user will need special equipment-computers with a powerful video card. In the early stages of the new cryptocurrency, mining is possible on small PCs, but as it develops, more and more power is required.

The process of mining digital currencies is to create a number of cryptocurrencies by a special algorithm that involves solving mathematical problems. As a result of these decisions, new blocks of information are released, and as a result, a certain number of new coins are registered in the blockchain. At the same time, transactions with existing coins are processed. After the last transactions are verified for authenticity by the computing devices of the network participants, they are compiled into blocks.

The reward for creating a block is given to the participant who is the first to complete this task. By 2019, classic mining has become almost impossible, as it requires more and more computing power. At the moment, the mining of coins in the "cloud"has become more relevant.

Cloud mining

This method of obtaining cryptocurrency does not require large investments. Mining equipment can be rented from large service pools. In the future, everything will depend on the miner and the computing power of the leased pool. The invested amount on average pays off in six months, then the net profit will go. The most acceptable option for mining in 2019 is to rent equipment (hashrate) for a period of 1 to 3 years.

Among the advantages of cloud mining can be noted: 

no need to purchase expensive equipment; 

a variety of tariff plans; 

fairly quick payback. 

The disadvantages include: 

high commissions; 

the risk of a hacker attack.

When choosing a service, in order not to become the prey of scammers, it is important to give preference to well-known, proven sites.