If you haven’t been living under a rock, then you’ll know that one of the hottest cryptocurrencies in the world is Bitcoin. There’s only a finite amount of them; 21 million, to be exact. And as of August 2021, 18.77 million bitcoins have already been mined!
While there aren’t many bitcoins left, it can still be worth your time to become a miner.
Want to learn how to become a Bitcoin miner to earn some extra money? Then you’re in the right place! Keep reading to find out how to mine Bitcoin.
Get the Right Equipment
While you might be able to use any old computer to mine bitcoins, that may not be a good idea. Mining takes a lot of computing power, so you want to make sure you have a robust computer that can handle it.
In general, we recommend that you have a GPU in your computer. Also, you’ll need to have a high-speed internet connection of at least 50 kilobytes per second. You’ll typically need 200 GB for uploads and 20 GB for downloads every month.
Get a Bitcoin Wallet
When you mine bitcoins, you’ll be rewarded with money. To receive these rewards, you’ll need to get a Bitcoin wallet.
Sign up for one and link it to your Bitcoin mining setup to ensure you receive your side income.
Install the Appropriate Software
Once you’ve made sure your computer is machine enough and have also created a Bitcoin wallet, then you’ll want to get the appropriate software. The specific programs you download will depend on your specific setup, but again, if you Google it, you’ll be able to find the top used Bitcoin mining programs.
You can also get turnkey Bitcoin mining solutions from companies like QuoteColo.
Find a Mining Pool to Join
You can mine bitcoin on your own, but this isn’t the best way to make money. To consistently make some side cash, it’s best to join a mining pool. Just do a quick Google search and you’ll find plenty to choose from.
Start Mining Bitcoins
After setting up your hardware and software, it’s super easy to start mining bitcoin. Just start up your software and it’ll run in the background!
For maximum profits, we recommend you run your mining setup at least 6 hours a day. Because this is a power-hungry process (in terms of electricity and bandwidth), you’ll want to check your setup every once in a while. Make small tweaks to ensure everything’s running as efficiently as possible.
Know How to Become a Bitcoin Miner Successfully
Bitcoin mining can take a little bit of work to set up. But once you know how to become a Bitcoin miner, you’ll be on your way to starting a lucrative side hustle.
It’s predicted that the last bitcoin will be mined in early 2140, so you still have plenty of time to get in on the action!
Want to learn more about side hustles? Then check out our other blog posts for great ideas!