Where to Mine Cryptocurrency? Bitcoin mining software is used to keep the decentralized digital cryptocurrency secure. Miners are rewarded with Bitcoin for tracking and securing transactions known as blockchains.
The mining process involves using dedicated hardware (e.g., ASICs, FPGAs) that use processing power, as well as software applications, to manage these rigs. If you’ve decided to get into cryptocurrency mining, here is some of the best Bitcoin mining software to start with.
Although being invisible, intangible and electronically stored virtual/digital currency, Bitcoin is one of the top and widely used form of cryptocurrencies. This digital currency operates without the control of a Central Bank or requirement of intermediaries.
But, how do you earn Bitcoin?
Bitcoin can either be bought by the user or you could “mine” through a software platform. Furthermore, the user could either join a mining pool or mine solo with the assistance of up-to-date mining tools. Mining software is a vital key to facilitate your mining operation. The different software alternatives differ by the miner types they support like GPU/ASIC/FPGA or supported operating systems like Windows, Linux, etc., and many other requisites.
Is Bitcoin mining safe?
The more computers and computing power used, the more secure the network is from attacks and cyber theft. The way a transaction works is, if a sender wants to transfer to a recipient, The Miner application acts as a verification tool that the transaction was legitimate and is added to a blockchain, a simple bitcoin ledger. These automated applications also analyze and report your earnings, hence eliminating the need for technical skills.
So, here’s a list of widely used mining applications
Different cryptocurrencies have different command line mining tools, and this makes managing them a chore. This is where Easyminer comes into the picture, making things easier.
Easyminer is a graphical, open-source mining software that lets you mine Bitcoin, Litecoin, and other cryptocurrencies. It supports minerd, cudaminer, ccminer, cgminer, and ASIC mining for Bitcoin. Easyminer comes with a dedicated “Moneymaker” mode, which is dedicated to the mining of LTC on its own stratum pool. There’s also a “Solo” mode, which allows users to choose a pool of their own, as well as a custom hash algorithm corresponding to the coin they want to mine. Easyminer uses the NHIL (Network Hardware ID Layer) protocol to provide an extra layer of security for the pool stratum and wallet architecture.
It’s worth mentioning that Easyminer only works on Windows.
Kryptex is a user-friendly, mining software that helps the user to either mine cryptocurrency and earn payouts as bitcoins or real-world money. One of the best-featured tools of the application is the lite mode function which mode allows the user to utilize his computer at a lower percentage while mining cryptocurrencies. Another bonus of this platform is that it pays in Ruble, Bitcoin, and Amazon Gift Cards.
Unfortunately, they only support Windows at the moment.
Awesome Miner is a Windows software, utilized to control and monitor the mining of multiple cryptocurrencies. In this software, it is plausible to handle diverse pools, algorithms, and mining engine to achieve maximum profit and minimize downtime. It is consistent with upgrades, to adhere to changes in the market place or address new technical issues. One feature tool can show GPU properties like clock speed, fan speed, temperature, etc. It supports all ASIC machines.
Through NiceHash a buyer chooses a form of cryptocurrency they would like to mine and a pool sets a price for purchase and places the order. Once the order is attained by other miners who are running NiceHash Miner on their devices, the buyer gets his crypto-currency from the pool. This eliminated requirements to run complex mining operations with little or no capital investment in mining hardware required. An additional feature also provides a profitability calculator. With this software, you can manage your profile and activities with easy.
MultiMiner software uses a graphical user interface (GUI) and provides an intuitive platform, which gives notification alerts when it is profitable to consider mining. It was created to tailor to the needs of novice miners and powerful players in the game, hence it also supports multiple cryptocurrencies. Services through this platform are easily integrated online. There’s even the option to have the device instinctively opt for the most profitable coin at any given time or to target those which offer the lowest strain. It is mainly used on Windows, but can also be used on Linux and macOS through additional software.
CGMiner is an ASIC, FPGA, and GPU miner. Written in C, it is open-source which supports multiple platforms including macOS, Linux, Windows, Binaries for RPi, and others. It is praised for its debugging algorithm information, allowing the user to spontaneously disable complex operations. They provide stable performance with moderate hash rates.
How We Chose the Best Bitcoin Mining Software?
We chose the four best Bitcoin mining software options by first reviewing and researching multiple Bitcoin mining software options and then selecting the top contenders. We made these Bitcoin mining software options our top choices based on how easy they were to use, the features and tools they offer, how customizable they are, if you can mine other cryptocurrencies, and more.
A Bitcoin mining tool acts as an interface between cryptocurrency, hardware and the user but it is not the only tool required to start mining. Apart from these the user must have Bitcoin Wallets Software and participate in a Bitcoin Trading Platform. Some basic criteria, which should be looked at by the users are as follows.
- While choosing software to begin mining the user should consider his budget. Often setting up a mine is cost-intensive. The hardware and maintenance of the same could cost more than what the user has set out to gain through mining.
- The user must also consider the ease and customization that the platform offers.
- Compatibility of the Hardware and preferred Software.
- Study the hashrate of the cryptocurrency.
- Additional tools like calculators or estimators are always a plus point.
Bill Gates, co-founder of Microsoft, investor, and philanthropist once said “Bitcoin is exciting because it shows how cheap it can be. Bitcoin is better than currency in that you don’t have to be physically in the same place and, of course, for large transactions, currency can get pretty inconvenient.”
[Source: Bloomberg]. Cryptocurrency continues to alter remains as a promising financial system with many prospects for the future.