Bitcoin mining is a highly lucrative endeavor.
It’s one of the main pathways to acquiring the popular cryptocurrency. The way it works is as follows. Miners lend the power of their computers to the network.
In doing so, they contribute to the process of confirming transactions. And the beauty of it is they barely have to lift a finger, as technology does all the heavy lifting.
When we say technology, do we just mean computers or other devices? Can you mine Bitcoin on a phone or not?
The short answer is yes. What’s left to explain is how to go about this venture and whether it’s worth considering at all. Let’s get down to business.
Digital Gold Rush Is On
Bitcoin mining revolves around adding transaction records to the Blockchain public ledger.
The purpose of this record database is to verify each and every transaction. It’s the mainstay of Bitcoin’s founding principles: transparency, security, and accessibility.
As you can see, miners are essentially record-keepers. They just have to do one thing: put processing power of their computers at the disposal of the Blockchain network. The network is then able to solve complex mathematical problems and confirm/cancel the transactions.
The advantage of using desktop and laptop computers for mining is clear. They have a lot of processing power under the hood and bring more rewards. Moreover, they’re just more durable machines that can work serious overtime.
That said, performing mobile Bitcoin mining is certainly possible. Not only that but it’s rather convenient. You need a smartphone and dedicate app in your arsenal and that’s it.
Prospecting on the go is within grasp.
Words of Caution
Mobile mining works in the same way as traditional mining.
But, your choice when it comes to hardware and software is a bit narrowed. Android is the only mining-friendly system. So, your newest iPhone is pretty much useless.
An additional obstacle is finding a legitimate app for Android. Google has banned all mining apps from its Play Store. The official reason the companies cited was that these apps can be harmful to devices.
Other sections of the market are flooded with mining apps. Alas, they come from less-than-reputable providers and some are straight out scams. You should be extra vigilant.
We would recommend checking out MinerGate Mobile Miner and Bitcoin Miner. They are some of the most popular solutions, enjoy fairly good reviews, and are proven to work. Interfaces are user-friendly and intuitive.
Another great thing is they are compatible with most devices and operating systems.
Power Games
A defining trait of mobile mining is that it operates at a far lower scale.
And that brings us to the next point, major problems mobile mining is associated with. It’s quite unclear, for instance, if you’ll earn enough profit to make mining a worthwhile undertaking.
Here’s the deal.
Mining is actually best carried out as an industrial activity, not casual and pastime project. There are many professional miners around and you’re facing an uphill battle.
Furthermore, there is a chance you’ll cause damage to your smartphone. These devices weren’t designed to withstand the strain of prolonged mining. They don’t have powerful processors and GPUs.
In this regard, smartphones don’t even come close to their bulkier counterparts. Seasoned miners are well aware of this and they know how to deepen the gap further. They invest in tailor-made mining hardware and software solutions.
We’ve also had many innovations over the years, such as ASIC and pool mining. They improve the process of harnessing computing power, taking the ability to earn hefty rewards to new heights.
Not Everything That Shines Is Gold
So, what does this all mean for mobile mining?
Well, the situation isn’t great. When the network distributes rewards, it’s likely to favor miners that offered the most power. Your contributions from the smartphone pale in comparison, to say the least.
You should also note mining devours a considerable amount of energy. It can deplete your smartphone battery quickly and spoil the party. Other known issues are overheating and lower performance.
In case you’re not worried about these problems, we won’t judge you. Just make sure to always have your charger and/or power bank around. Don’t just download the first app you stumble upon.
Finally, avoid mining Bitcoin on your main, expensive smartphone. Any damage would decimate the earnings and poke a hole in your pocket too.
Alternative Courses of Action
If you don’t want to risk compromising hardware or wasting effort, fret not.
You can explore other, more rewarding avenues.
First off, you may simply let your laptop or desktop double as a mining machine. This tactic brings a higher return on investment (ROI), which we alluded to earlier.
Secondly, you can trade Bitcoin for goods and services, including other cryptocurrencies. There’s no shortage of users willing to barter in the crypto ecosystem. Blockchain technology eliminates the need for trust between parties to exist.
The third option is to head to regulated and trustworthy exchanges. You set up an account and pick Bitcoin as a cryptocurrency of choice. Then, you can do web, features, and option chain Bitcoin trading with just a few clicks.
The bottom line is to always do your homework and get clear on what your goals are. Start with smaller sums and gradually adjust them based on the results. If you play it right, you can accumulate wealth and diversify your portfolio.
Can You Mine Bitcoin on a Phone? Now You Know!
Earning Bitcoins without breaking a sweat is a very enticing proposition.
But, it’s not a question of “can you mine Bitcoin on a phone”. The real dilemma is whether you really want to do it. We’ve pointed out that mobile mining is straightforward.
Basic requirements and barriers to entry are as low as they get.
However, there are also many drawbacks and pitfalls that plague this kind of mining. You’re probably better off sticking to bigger tools that dwarf what a smartphone can do. They give more rewards and spare you most of the risks mobile mining involves.
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