Bitcoin cash mining is one of the many most reasonable ways of earning a huge quantity of Bitcoin Cash.Once the right software and hardware is put into proper use in executing the task.However,huge Profitability can not be realized without proper knowledge of all that will be discussed below.
How Profitable Is Bitcoin Cash Mining.
Currently the average reward available for we miners stand at 12.5BCH per block and this is just at the minimum level and with the increasingly rising worth of BCH a fortune can be realized from Bitcoin Cash Mining. BCH will reach $181 at the end of 2020,at the beginning of 2021,BCH will worth about $200 and by the end of 2021 the price of BCH will be $306. In January 2022 BCH will worth about $318 and by the end of 2022 it will be $405,with this estimate it can be deduced that the future of BCH is really bright and with the mining of this crypto currency (BCH) huge Profitability Will be the ultimate reward for investing mining BCH.
Essential Facts To Be Aware Of Before Going Into The Mining Of BCH.
Essentially Bitcoin Cash Mining involves the simple process of solving mathematical Puzzles,miners are the most important and indispensable part of every crypto currency community including Bitcoin Cash. As miners we don't only mark transactions as legitimate,we are also responsible for realising new tokens into circulation. Miners receive a quite substantial reward for successfully Mining a block of transaction or transactions. In the Bitcoin Cash network,the reward currently available for we miners stand at 12.5BCH per block+all the transaction fees within the said block.
The Profitability Calculator And What It Does.
The Profitability Calculator is used to find out roughly how much your profit will add up to when you might have invested some money into specialized mining equipments,this bid was made in 2018 in order to help we miners make a significant amount of profit on Bitcoin Cash Mining,to use this Calculator you will need to find out your hash rate,which is the speed with which your computer and the equipments you are planning to invest in can compute the ouput of a hash function (measure of a miner's computional power). The bigger it is the more the chances you will automatically have to successfully mining a block, Also all miners should ensure they find a calculator that will take the hardware they choose to use as well as their local electricity cost into consideration.
List Of Hardwares For Bitcoin Cash Mining.
1. Bitmain-antiminer S9i.
2. Bitmain-antimainer T9.
3. Antiminers S5.
4. Avalon 6.
5. Antiminers R4.
6. Avalon 7.
7. Antiminers S7.
8. Antrouter R1.
How To Start Mining Bitcoin Cash.
The first thing to acquire before starting Bitcoin Cash Mining is a Bitcoin Cash wallet which I believe anyone reading this article probably have. A Bitcoin cash wallet is needed in order to receive future mining rewards. As a safety measure it is advisable that you choose a wallet that would store your private key on the device it is installed on,in order to prevent the loss of the private key which is an important entity in Bitcon Cash mining,also make sure you back up your wallet properly and also link it to a separate device, or print a copy out and keep in a secure location in case your computer crashes or gets stolen you would still be able to retrieve your funds with the separate file.
For the mining process,miners can decide to join a mining pool which is a group of Bitcoin cash miners that combine computing power of their various miners in order to increase their chances of solving a puzzle thereby giving them a higher risk of making more profit. In a mining pool your mining rig will receive smaller and easier algorithm to solve and all your combined work will increase the pools chances of solving bigger algorithm and receiving the reward when rewards are received it is then shared among participants based on how much computing power prospective miners contributed.
Examples of Bitcoin Cash mining pools include:
1:BTC.com.
2:F2 pool.
3:via BTC.
4:Ant pool.
5:Bit club.
6:BTC.top.
On the other hand,you can decide to mine on your own and if you are able to mine a block of transaction successfully you will receive the full reward of about 12.5BCH all to yourself. The problem however,is unless you have an extremely powerful mining rig, which requires a gigantic amount of power (electricity) to operate,you don't stand the slightest chance of sealling off a block. But if you are mining on your own mining rig, you will have to get a running software to run on your computer. The right software will depend on your operating system and the actual mining rig you have.
Important Thoughts To Put Into Consideration When Choosing A Mining Rig.
1: Make sure you consider how big the mining pool is.
2:Consider how often the mining pool finds a block.
3:What the payout structure of the mining pool looks like.
4:What fees the mining pool charge and what kind of stats they provide.
How To Join A Mining Pool.
1:To join a mining pool you need to sign up on any mining pool website of your choice from the various mining pools already stated above.
2:Add a worker ID,for every miner that you have running,you will need to use your worker ID,so that your contribution would be tracked easily.
3:Connect your mining hardware to a power outlet then plug it into your computer and run it.
4:Most pools have their own software. Some are being shipped with everything pre-configured, including a wallet address atimes,since the issue of software is settled just plugging it into an outlet is all that is needed.
5:Enter your username, password and the pool's address into the software. Once this is configured you will start mining coins. If you mine solo in a mining pool your part of the reward would be calculated automatically and added to your account,Just enter your wallet address in the required field when signing up on the pool and the Bitcoin cash would be sent to your personal wallet.
Here Are The List Of Best BitCoin Cash Mining Software For 2020.
1:CG Miner.
2:BFG Miner.
3:Bit minter.
4:Easy miner.
5:BTC Miner.
6:Diable miner.
7: Multi miner.
8: Awesome miner.
Generally in the crypto community CG Miner is considered to be the best Bitcon mining software on the market due to its great versatility CG Miner is open source, runs on MAC, Windows and LINUX, it is also compatible with three types of mining Hardwares which are,GPU,FPGA and ASIC.
Cloud mining.
In case you want to invest in Bitcon Cash mining and avoid the struggle of managing your own hardware, cloud mining is an alternative for you. In simple terms cloud mining entails using shared computing power run from remote data centers. It greatly simplifies the process,as you don't need to buy noisy and energy consuming mining hardware.