Bitcoin Cash Mining or how to mine BCH

Welcome to my new article Read.cash readers.

In today's article, I will give you a quick guide to mining the promising Bitcoin Cash cryptocurrency. So if you want to know how to mine Bitcoin Cash, you've come to the right place!

However, before I get started, let's test your knowledge:

Did you know that BCH (Bitcoin Cash) miners can confirm 8 times more transactions than Bitcoin miners? This is one of the main reasons Bitcoin Cash was created, as it allows people to pay less commission for transferring the same amount of money!!!!.

In any case, in this Bitcoin Cash mining guide, I will explain how the network and miners work, and then I will cover whether it is worth mining BCH cryptocurrency.

Once you understand the basics, we'll talk about what you'll need to mine BCH. I'll also tell you about the pros and cons of Bitcoin Cash mining pools (if you don't know about them, that's okay), because this might be the best option for you!

So what are you waiting for? Let's take a look at what Bitcoin Cash mining is all about!

What is Bitcoin Cash mining?

Like most other blockchain-based cryptocurrencies, Bitcoin Cash uses miners to verify and validate transactions. Anyone in the world can become a Bitcoin Cash miner if they buy the right equipment and download the software.

Like Bitcoin, a block of BCH transactions is validated by a community of miners every 10 minutes. Before the block is authenticated, miners in the network must solve a cryptographic puzzle. This puzzle is so complex that no single person can solve it, so powerful computing hardware is used.

All miners in the Bitcoin Cash network will try to be the first to solve the puzzle! The reason is that the first one to solve it gets a miner's reward. The reward for successful mining is currently 12.5 BCH and will not change until April 2022. After that, the reward will be halved to BCH 6.25.

In addition to the block reward, miners will also earn on the transaction fees paid by individual users for transferring money. The person or organisation with the strongest mining equipment is more likely to receive a miner reward.

In the case of Bitcoin Cash, mining with a powerful tool will always be profitable more often than with the same basic processor. However, we will discuss this later.

For now, we have an idea about Bitcoin Cash mining itself and its basic concept. Now it is time to tell you whether BCH cryptocurrency is currently profitable as a mining target.

How profitable is BCH mining?

As mentioned above, anyone in the world can try to make money by mining Bitcoin Cash. However, you need to put some effort and have the financial capacity to do so.

First of all, you need to invest in Bitcoin Cash mining equipment.

The success of the business mainly depends on the equipment. Therefore, you need to invest a decent amount of money in this business as you have no chance of beating other miners in the current environment.

You also need to consider how much electricity you will use in the mining process. Bitcoin Cash mining consumes a significant amount of electricity. The only way to solve the puzzle is to use huge computing power, which requires a lot of electricity!

You should know that on the blockchain network, all miners are trying to solve the same puzzle. This means that even if you don't win a prize, you will waste electricity trying to be first!

You should also consider where you live, as the price of electricity is different everywhere, and that too to consider.

Don't forget about a very important factor - Bitcoin Cash exchange rate. Since BCH cryptocurrency is used as a payment or reward for mining, the higher the exchange rate, the more profitable Bitcoin Cash mining will be. It all depends on your goals and belief in the future of the project.

Let's talk about the equipment that allows you to mine Bitcoin Cash

Bitcoin Cash mining equipment

Once you've determined your goals, you need to think about buying equipment. In the early days of cryptocurrency mining, you could even make good money on CPU or GPU equipment. They were cheaper and gave everyone a decent chance to win prizes.

Each device was capable of producing a certain amount of hash energy. Imagine a machine. Depending on the model, that car could produce a certain amount of speed. In most cases, the more expensive machines are more powerful and therefore faster!

This is important because miners have to try a billion different combinations to solve the puzzle. The more powerful the machine, the more combinations it can try per second!

Currently, the only device that can mine Bitcoin Cash is an ASIC (integrated circuit for special purposes). There are many such devices with different functions. But if you are interested in mining Bitcoin Cash, don't rely on anything but ASIC or you will have no chance!

So, now that you understand the importance of computing power, let's look at examples of such devices!

Here's an example:

Antminer S7

Antminer S7 was the best ASIC mining tool before the release of S9! It was also designed by Bitmain and has a maximum payload of 4.73 TH/S.

Even though it's much smaller than the S9, that price point still allows it to win pool prizes for mining. At the time of writing, the S7 was selling for less than $100. It's a reliable device that was once the standard throughout the industry.

There are two important things to consider before buying an Antminer S7. First, if you are interested in Bitcoin Cash mining, you better forget about it! It will not be able to compete with newer models. Secondly, S7 is a very noisy device, so be prepared for complaints from neighbors at night.

If you want to buy Antminer S7, you can buy it on Amazon.

I do not leave links, this is not an advertisement.

Bitcoin Cash mining software as with your computer or laptop, the software is just as important as the device itself. Once you purchase an ASIC, you will need to download the software for it. In most cases, however, the software comes with the device itself.

Once the software is installed, you will need to configure a few settings. First, you need to enter your BCH wallet address. This is very important since this is where your reward will be sent.

In addition, you need to specify in the application what type of energy you want to generate. Read your device manual carefully before changing your settings!!!!

Now let's get acquainted with the controllers that will help you mine Bitcoin Cash.

It's worth understanding that mining for a pool is controlled by someone. Sure, you share its hash power, but the pool has complete control over its terms and rules. This means that they can change the commission or reduce the reward at any time.

In addition, there are many scammers who never pay you your share. So you should choose your pool carefully and choose the most reliable one.

Here is an example Antpool

Antpool, like the organization with a similar name, was created by Bitmain. When you connect your device to the Antpool pool, you can immediately start mining without paying a fee.

But it's not so simple here, as the company withholds all transaction fees associated with the reward.

If you generate 10% of your total hashing power, you get a 10% reward!

You hope enjoyed this Bitcoin Cash mining guide. If you read it from start to finish, you will already have all the knowledge you need.

The days of using CPUs and GPUs to mine popular cryptocurrencies like Bitcoin and Bitcoin Cash are long gone. Back then, the system was really fair and honest. Today, however, the only way to successfully mine is to buy an ASIC device or join a pool.

Who knows, maybe at some point the bitcoin community will agree to ban ASIC devices. But until then, you'll need more mining farms to make real income.

So, what do you think about bitcoin cash mining? Will you buy expensive equipment or will you sign up for the pool after all? Share your opinion in the comments.

Note: This device is not a compulsory purchase. This article is not intended as financial advice, it is for guidance only. The choice is yours!

I thank God for his help in writing this article, and you, dear readers, praise him if your reading has been helpful to you.

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