What is Cryptocurrency Mining
Today we will explain about Cryptocurrency mining . What is its use and what it is and its necessity to use in the Cryptocurrency world .
And also we will tell you that how it has advantage and disadvantage both.
![](https://truebitcoiner.com/wp-content/uploads/2021/03/MINING-edited.jpg.webp)
Bitcoin or Crypto Mining
This is very common term in those places where work of mining of coal , gold , diamond , minerals metals happen .
Here in the field of Cryptocurrency , mining is same thing but here we mine Cryptocurrency online instead to go in practical life.
Need Of crypto or Bitcoin Mining
Sometimes a question arise in our mind that we really need to mine the Cryptocurrency so that network & algorithm can works with more ease during transaction of crypto coins .
This is true . Actually the technology of Blockchain algorithm is based on the support by the multiple people by the help of mining .
In the mining system every person can give support to the network of Cryptocurrency by giving his computer , mining hardware power online .
In simple words , to solve the problems of transaction algorithm of Blockchain we need to give power of our hardware system but unfortunately a single person can’t give very high power because a single Person can’t effords highly costive hardware to give support the network , so people helps the Blockchain network by online hardware power sharing.
Can we make money from mining?
No , This is our opinion that you can’t make profit from mining support .
Usually when we support the Network by giving our hardware power then we get reward but that reward amount remain very small .
Actually the cost of hardware and electricity rate consumption is more than what we get from mining .
So people usually avoid to go with mining the coins , but people in China remains always ready to make earning with mining because In china cost of electricity is very less , so mining is a profitable business for them.
Crypto Mining with mobile
No, it is not possible !
There are numerous of apps available at play store that claims that we can mine bitcoin from our mobile easily but actually those apps are fake .
Actually those apps are making us fool , they are only using us to visit at Their platform and they make earnings and in return they gives few SATOSHI or any coin which are totally useless for us . So don’t waste your time with such things.
In Very Short :
Summary :
Bitcoin mining or Cryptocurrency mining is not profitable option for us in present time because the main reason if electricity prices . But if you can get electricity at very low price or cheap price then you can go with Mining job .
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