Bitcoin mining went from just a hobby to a whole industry that required you to have a cooled warehouse that’s filled with specialized rigs within just months. ASIC miner, the Chinese company, designed a circuit meant for nothing but bitcoin mining and turned mining into a specialist task. Several other companies followed with their own hardware versions as the price of bitcoins began climbing and progressively more people became interested in mining them. Bitcoins are now truly lucrative, but can beginners join in the action? The answer is yes and the solution is cloud mining. A complete novice can begin mining within hours without the need to buy a specialized hardware. Here are steps for mining bitcoins using cloud computing.
Get a Wallet
There are many web-based free wallets that enable you to buy some bitcoins by using your credit card or linking to your traditional bank account. This enables you to bypass the complete process of going through an exchange. Registering an account with such wallets is easy. This is the very step for mining bitcoins with cloud computing.
Purchase Some Bitcoins
You need this to begin mining bitcoins in the cloud. Theoretically, you can start off mining as small as you are comfortable with, but it’s suggested that you buy a minimum of 0.1 BTC. This means an initial investment of about $150 at current BTC rates. This is a very nice low entry point for bitcoin investments. But it could take some days for your payment to be verified and the Bitcoins deposited into your wallet.
Register For Cloud Mining
This is where you go to reliable mining services like USI-Tech. UTI is a reliable service that mines bitcoins and even offer 1% return to users. You will be required to use a valid email address, choose a username and a strong password to register. For maximum security, please select a combination of password and username you don’t currently use anywhere else. USI is the best service if you desire to easily and quickly mine bitcoins. It offers mining at its possible best for all beginners.
Credit Your Bitcoins to Online Mining Account
Immediately your coins land in your wallet, you should send them to your USI-Tech account or the account of any cloud mining platform you are using. You bitcoin address, which resembles a random string of letters that are medium length, is then displayed in the appropriate space when you sign into your account. Highlight and copy this address and store it somewhere safe and secure. It’s the address you will use to receive, store and pay when performing transactions.
Purchase Cloud Mining Power
This is where you go to the cloud mining platform’s trade section to follow instructions concerning how to buy cloud mining power using your bitcoins. Hashing power which is dominated in GH/s can be bought in various ways in the trading section which, is designed like any regular digital trading floor. If you think it’s currently too costly, you can place a lower priced-order and wait for it to be filled.
The hashing power you purchase instantly goes to work to begin mining Bitcoins for you. You just need to keep watching the screen waiting for something to happen, especially if you joined USI which does all the mathematical calculations on your behalf.