HOW TO MINE BITCOIN

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Alot of people have heard about bitcoin mining but we don't know how to, here I will be giving a few steps on how to mine for bitcoin.

Bitcoin mining is the process of verifying bitcoin transactions, which users are rewarded. Mining is used to keep the transaction secure and reliable. This is also the mechanic behind bitcoin economy.

STEPS

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• PURCHASE CUSTOM MINING HARDWARE

The first thing your surppose to do is purchase a custom mining hardware. custom hardware allows for much better processing.
This comes in form of cards that is then inserted into the system, they same way graphics cards are inserted.
Some Bitcoin-mining hardware brands include Bitcoin Ultra, Butterfly Labs, CoinTerra and more.

• GET YOURSELF A BITCOIN WALLET
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Bitcoins are stored in encrypted wallet to protect your money. This wallet are either online or locally. Most established bitcoin users recommend using a local wallet for security reasons.

When your wallet is online there is a possibility that your money won't be save, cause if anything happens on the end of those hosting your wallet, you would lose your money.

Known local wallets include BitcoinQT and Multibit. You can also get wallet apps for your mobile device. These do not require downloading the entire blockchain. Such apps include: Blockchain and CoinJar.
If you lose your wallet, you lose your money!

• SECURITY OF YOUR WALLET
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There is no ownership when it comes to wallets, so anyone who has access to your wallet can make use your coins. To Avoid this from happening, enable two-factor authentication and store the wallet on a computer that doesn't have access to the internet.

• decide Joining a pool or going alone
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When it comes to mining, you are faced with two options either you join a pool or you mine alone. A pool allows you to share resources and then split your rewards, it also helps in getting more rewards. It also allows you to get quicker rewards.
If you wanna ride solo you might stay up to a year without earning a single coin.

• Download a mining program

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Mining programs are mostly free. Mining programs varies depending of the type of hardware your running.
Popular mining programs include CGminer and BFGminer. EasyMiner runs with a graphical interface as opposed to a command line.

• run your miner
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Once you have your miner configured, you can start your mining operation. Run the batch file you've created if necessary and watch the miner connect and start mining.

• Keep an eye on temperatures

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Keep an eye on temperatures. Mining programs push hardware to their limits, especially if the hardware was not designed for mining in the first place. Use a program like SpeedFan to make sure that your temperatures. Graphics cards should usually never go above 80 °C.

• Check your profitability
  

After you've mined for a while, check your figures to make sure its worth it. How much did you make over the last few days. Compare that to how much money it cost you to start it up.

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