If you have ever tried trading online, you should have heard about crypto mining too. Recently, mining has captured almost everyone’s attention, as it is a modern way for pretty solid passive income.
There are several mining methods. You can get a mining rig or use the software on your personal computer. You can also join a pool for mining or do it on your known, called solo mining.
However, not everyone can afford the mining rig for the beginning or does not have the proper PC. Thus, lots of beginner miners try to mine with their smartphones.
In this article, we will provide a little information on whether smartphone mining is worth trying or not, how easy-to-use system it is, etc.
Is it possible to mine crypto with your smartphone?
Yes, you can mine crypto with your mobile phone. However, there still are a few reasons why you might avoid it. The reason is simple, mining on your smartphone is not even comparable to traditional mining hardware or software.
Mining on your Android or iPhone might not be that profitable and worthy of your time and effort.
The reason for it is not that today’s smartphones are not powerful enough for crypto mining. The point is that the tools other miners use for mining are much more powerful, meaning that they have a better chance of winning high rewards.
Cryptocurrency mining means verifying transactions on the blockchain by solving complex mathematical problems. This process uses your computer’s processor or GPU power and consumes a lot of energy.
Mobile cryptocurrency mining is almost the same, but the scale is infinitely small. No one will prevent you from using your smartphone to join a mining pool or mobile mining farm.
However, your ability to share with the network is actually insignificant compared to other miners. Therefore, when rewards are shared across the web, you will only receive a percentage related to your computing power.
How can you mine crypto on Android?
Thus, if you still want to try mobile mining, why not. Let’s discuss the opportunities you will face for pool and solo mining.
Android solo mining
It is not so easy to mine cryptocurrency on Android. Bitcoin’s popularity continues to grow exponentially and is now very attractive to crypto miners.
However, you should note that each bitcoin has a 64-bit address generated by encryption and a private and public key generated by miners. Besides, the currency unit limit of Bitcoin is hard-coded 21 million, taking several months for Android phones to generate a little bit of Bitcoin.
Frankly speaking, Bitcoin mining is a bit problematic in every mining method. Even if you have the most advanced mining rig or personal computer, you might still receive a tiny reward, as the Bitcoin miners’ community unites thousands of miners, and the process of getting profit became very slow.
Cryptocurrency mining pool
What are mining pools? Well, these are miners’ communities, mining groups hosted by servers, and everyone contributes computing resources for cracking transactions. If a mining pool successfully decrypts an encrypted transmission, each member will get their share based on the computing power.
There are crypto mining applications created for Android that require you to join a mining pool. You are unlikely to find the best swimming pool. However, before joining the pool, you should consider its size.
This will determine the payment rules, the fees paid, and the reward method. Most PPS (pay per share) mining pools have a fixed amount when submitting encrypted block shares. On the other hand, a score-based pool pays only a portion of its weight when offering shares.
Most popular mobile apps for crypto mining
Anyway, if you still want to enter cryptocurrency mobile mining, you need a mining application and a nearby battery charger. Below, we will introduce you to several of the most popular apps for crypto mining.
MinerGate Mobile Miner is an application that allows you to mine various altcoins other than Bitcoin.
These include Monero, Dash, DigitalNote, MonetaVerde and QuazarCoin. Plus, you can also find a built-in wallet where you will store your hard-earned coins in the MinerGate Mobile Miner app.
Bitcoin Miner is currently one of the most popular applications and can be used on most devices. It has a user-friendly interface, and its performance is often praised. Despite the name, the application supports multiple altcoins.
Bottom line
To conclude, mobile cryptocurrency mining is not complicated at all. You only need a decent smartphone and a mining application. The application runs in the background when you use your phone, and you will be rewarded for it.
Though, the disadvantage is that all mining applications will interfere with the performance of your smartphone and will usually end up damaging your device. The seemingly simple way to earn extra cash may only lead to more expenses in the long run.
Thus, consider that If you plan to use a smartphone worth $1,000 for mobile cryptocurrency mining, your final income may not be enough to make up for the loss.
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