Cryptocurrency mining is a process in which a user(miner) uses high-powered hardware and software machines to calculate complex crypto trading equations. The encrypted strings derived from these equations are coins and tokens that the miner can trade for traditional currencies like the U.S. Dollar.
Mining cryptocurrencies is expensive as it requires high-performance computers that can support the complex programming and software that mining involves. However, miners are now able to use their powerful smartphones to make small amounts of profit daily. While they can not mine top-of-the-line cryptocurrencies like Bitcoin, Ethereum, or Litecoin, they can still make sufficient gains through their Android smartphones’ processing power.
What Is Crypto-Mobile Mining?
In the last decade, smartphones have sidelined pcs and laptops for most of their uses. But mining of the most traded currencies is traditionally done on heavily equipped computers because it generates a significant amount of heat and requires powerful processors, RAMs, and fans that smartphones don’t possess. This makes mining on phones difficult.
However, there are applications for the Android systems that use little processing power of the smartphones that makes crypto mining on mobile phones possible.
Crypto Mining Apps
The crypto mining apps are designed to provide miners with an easier and cheaper route for mining crypto. Unlike mining on powerful computers, these apps will not make you rich overnight, that too with the right strategy. However, the miner can join pools through the application to combine their processing power. Any reward from group mining is shared among them.
MinerGate and Bitcoin Miner are two of the few apps you can find in the Google Play Store for group mining. You can download the applications by registering an account on their website. However, if you enter a pool on one of these apps and then decide to change your pool or exit, the app will require you to unregister on their website or delete the application.
As an example of mining crypto on smartphones, let’s take a look at the mining process on MinerGate
Mining On MinerGate
The process is as follows:
To install MinerGate on your phone, you only need 30 Mb of free space on your device and an android version of 4.1 or later. You can choose to download MinerGate directly from Google Play Store or from a third-party website. However, we don’t recommend downloading from anywhere other than Google Play Store, as third-party websites can infect your phone with dangerous malware.
Create MinerGate Account
After you have installed the MinerGate app, create a MinerGate account by launching the application. You will see options to “Start Mining” or “Sign Up.” Sign up first if you already don’t have an account. Enter a valid email and a strong password to complete the process. Remember to keep your credentials private and secure, as they can be used to change your mining settings if leaked.
When you are finished signing up, the app will navigate you to the app page, requiring you to enter a four-digit pin that will be required to authorize withdrawals and transfers.
You can start mining from the main screen after you have filled in all requirements. The amount you make from MinerGate is determined by the processing power of your android phone. The more powerful your processor is, the faster your phone will process crypto equations. You can choose the cryptocurrency you want to mine from the drop-down menu and decide how much processing power you want to dedicate to this application.
Once you have started your application to mine crypto, there is not much you need to do except to check the profitability and mining pools.
In case you want to withdraw, you can easily do that by tapping on the dashboard tab. However, you will need wallet software and a minimum amount of balance before you can access withdrawal.
Cryptocurrencies are rising above their profitability projections with each passing day, and miners use whatever means they have to mine and make profits. Nowadays, Android smartphones are a household item, and apps like MinerGate and Bitcoin Miner have made it easy and accessible to mine smaller digital currencies. For more crypto mining tips and tricks, like this auto-trading app.
If you are interested in even more technology-related articles and information from us here at Bit Rebels, then we have a lot to choose from.