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Details of How to Mine Bitcoins

· December 30, 2014 · 12:20 pm
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Details of How to Mine Bitcoins

Mining Bitcoins requires lot of information and a common problem faced by everyone is that when they start looking for information regarding how to mine Bitcoin for investment and profit, most of the sites are not catering to the novices they usually target the advanced users.

Not being a professional coder, and no experience with Ubuntu, Linux and minimal experience with Mac are also a hindrance. So, this article is for the individuals or group who want to know How to Mine Bitcoins and get started the easy way.

First thing you need to do is get a “Bitcoin Wallet” because Bitcoin is an internet based currency, you need a place to keep your Bitcoins. For this one you will have to download the Bitcoin client for your Operating System and Install it the client and then download the blockchain. As downloading of blockchain can take a long time it is better to get a copy of the blockchain on DVD.

As soon the client is ready to start, press the “New” button to get your wallet address consisting of a long sequence of letters and numbers. As this is stored in the system and is subject to loss in case of theft of PC or when it crashes it is advisable to make a copy of the wallet.dat file on a thumb drive and print a copy out and keep it in a safe location.

When you have a wallet and the client, you ready to start mining and for this you have to solve algorithms. But as a starter it is always better to join a pool because here there is a pool or a group that combines their computing power to make more Bitcoins. Hope this article helped you in understanding the bitcoin mining process. For more subscribe to our posts.

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