Here is How to mine Bitcoin for free and without any investment. There are some best Free Cloud mining sites from where you can start mining bitcoin for free.
What is Bitcoin?
- Bitcoin the most prominent word almost known by all of us but do you know what exactly it is?
- Bitcoin is a cryptocurrency or a form of electronic cash.
- It is a decentralized digital currency which does not have any center or any manager.
- It is a peer to peer network which allows us to transfer bitcoin and make the transaction by the users easily without a need of any conciliator.
- Transactions are verified by network nodes through cryptography and are recorded in a record called a blockchain.
- However, Bitcoin was invented by a mysterious person or a group of persons using the name Satoshi Nakamoto.
- It was released as an open source system in 2009.
- Bitcoins are created as a reward for a process known as mining.
- They can be exchanged for other currencies, products, and services.
- However, Bitcoin is a kind of reward processing unit which is very common nowadays we will also discuss some of the ways to earn free bitcoins so stay tuned.
What is Bitcoin Mining?
- Bitcoin Mining is the process of addition of transactions or records to the public ledger or blockchain.
- However, the purpose of mining is to provide security to the Bitcoin nodes.
- Bitcoin Miners are rewarded for providing the computational power which it the part of transaction fees.
- The process of mining depends on the hash rate or the computational power of the device.
- Furthermore, Bitcoin mining network difficulty increases as competition increases.
- However, you can mine Free Bitcoin .
What is Bitcoin Cloud Mining?
- Bitcoin Cloud mining is enabling users to purchase the computational power of the hardware.
- Furthermore, It is the process of mining Bitcoins without any need for managing hardware, software, electricity, and other things.
Pros and Cons of Bitcoin Cloud Mining
1. Pros of Bitcoin cloud mining
- No heat to deal with.
- Silence as you don’t have to deal with humming mechanical sounds.
- Also, No Electricity cost to pay.
- As mining becomes no more profitable no tension to sell this mining equipment.
- Lastly, No problem with purchasing more mining hardware.
2. Cons of Bitcoin Cloud Mining
- More fraudulent practices.
- Also, Fewer profits as cloud mining are more expensive
- Also, The satisfying curiosity of Bitcoin mining is not possible.
- Lastly, No more fun with bitcoin mining it’s just like an investment in the stock market.
All you need to do cloud mining is a computer or graphics card and internet connection. The software for cloud mining can be downloaded and installed on your computer and start mining bitcoin for free. Furthermore, There are some free services which offer cloud mining services for everyone.
Bitcoin Cloud mining sites
- Nicehash: It is a Slovenian based company dealing in cryptocurrencies. There act as a broker between miners and sellers of hashing power required to mine Bitcoin. Furthermore, They use the sharing economy approach to connect buyers and sellers. However, To start mining Bitcoin for free with Nicehash all you need to do is download software for selling hashing power. Furthermore, The software will automatically detect the mining efficiency of your Computer and will provide earning depending on the mining power.
- Minergate: It is similar to Nicehash where users are provided software to give their hashing power to mine Cryptocurrencies. You can use your Normal computers to get started with Minergate and Collect 1 bitcoin. All you need to do is grab the software in your PC and provide your hashing power to them. The rewards will be automatically provided in your Minergate’s account. Also, You can also use your smartphone to mine Bitcoin with Minergate. However, mining with Minergate will be very fun and if it’s profitable you can also purchase efficient hardware. Lastly, to start mining bitcoin for free and without any investment, you can install Minergate application in your friends and family’s phone.
Is it possible to mine Bitcoin for free?
- Sites to mine bitcoin for free are the ones which provide free Cloud mining service to the users.
- Also, If you are looking to mine bitcoin for free so you have to do a lot of research as there are many scammers out there.
- Lastly, Discussion forum sites such as Bitcointalk.org may be very beneficial to collect information about a particular site.
How to mine Bitcoin for Free
- MinerFarm – Miner Farm gives free 100Gh/s for mining Bitcoins to its users. The process of registering and withdrawing BTC is quick and easy.
- Multimining – It is similar to the first one where a new user is provided with free computational power. After registering on this website you will receive 30GH/s to mine Bitcoins for free.
- Bitcointoolmining – With this site you can start mining BTC & ETH daily to earn money without any mining hardware.
- BTCMines – It is not a kind of CPU Miner which uses your computational power to mine Bitcoins. Furthermore, BTCmines is a kind of miner which asks users to feed little miners and they will earn rewards for you. Also, There are no restrictions and no limits to earn on this site.
- StartMiner – It aims to provide the easiest possible way to make money online. Lastly, To earn more Bitcoins you can upgrade the plan.
- 99Mining.Cloud – 99Mining provides the easiest way to mine Bitcoins and you can also make some extra money out of affiliate program.
- FSTmine – They provide 0.2MH/s for signing up and provide payments as less as 0.003BTC.
- Hash-Line – Hash line provides cloud mining services for mining BTC, LTC, DOGE. They also provide 130GH/s for free on sign up.
Read also –
- 6 Trusted Free Cloud Mining Sites 2019 without investment
- Ethereum Private Key hack which may be possible