There are a few steps to start Bitcoin mining and make profit. You must have both hardware,software and bitcoin wallet to start mining Bitcoin.
Bitcoin is becoming a phenomena because of the current price for 1XBT is USD2664. You can liquefy the Bitcoin into real money if you afraid it is a scam.
The hardware needed to mine Bitcoin is a Graphic card. At least not a built in Graphic card because most of the built in is not as powerful as GPU that use PCIE. You can assign CPU as miner/worker also but not as powerful as GPU miner.
The most important thing needed is Bitcoin wallet. You must have wallet so the income from mining can be inserted directly to your wallet.
The are many service provider that provide Bitcoin wallet. One of them is Luno. For this tutorial, we use Luno.
You have to register the account with Luno first. Once your account activated, just go to wallet. Click ‘Add address’ and auto generated address will be created. This is you Bitcoin wallet address. This is the address you use to mine a Bitcoin.
After you ready with Graphic card and Bitcoin wallet, the next thing needed is a software to mine Bitcoin. We use NiceHash Miner to mine Bitcoin. You can download the software here : https://www.nicehash.com/index.jsp?p=nhmintro
Just put the nearest server from your current location and put your Bitcoin address and give the worker a name. The first run it will run the benchmark automatically. After the benchmark it should start mining.
You can check the status by clicking the link ‘Check my stats online!’
It will redirect you to another page in browser to see how many you can get from mining. Sample projected payout from 2 worker. The 2 worker is from Intel Core i5 2500K and Nvidia GTX 660Ti.
This is just a small picture on how to mine Bitcoin.
Things to consider;
- Is the income sufficient to cover the Graphic Card cost and electricity
- How if the Graphic Card broken because of running 24/7
- How about the power supply
- How about if the cyrpto currency suddenly goes down
- How if suddenly government put a gateway to mine Bitcoin