DownloadTechNewsTechTalks

What is BitCoin Mining and How to Mine BitCoin

I recently made an article explaining What is BitCoin. If you want to make BitCoin you can make it by Doing BitCoin Mining. So read this article until the end to know What is BitCoin Mining and How to Mine BitCoin and BitCoin Mine Software. Mining BitCoins at home is super easy with none of the complex BS you normally have to deal with. NiceHash is the program I used for mining decided to check the calendar and realize it was almost 2018. So maybe they should update their user interface. It looks beautiful.

BitCoin Mining Complete Guide

So let’s go ahead and recap everything I talked about there and how to start mining today on your computer using NiceHash 2.0 software.

Let’s quickly go over mining and what it is? To understand BitCoin Mining. First, you need to understand what BitCoin is?
I’ll make an article right here.

Making BitCoins is extremely simple is when you sell your computer’s processing power in order to process BitCoin transactions around the world.
It is much more complex than this. But I’m gonna keep everything easy to understand in this article.

When you’re mining is to solve some type of complex problem or issues. But these problems can take months or years to solve alone. So this is where a mining pool like NiceHash comes into play. NiceHash is gonna put together tons of different people’s computers in order to solve these problems quickly.

Then they will distribute payment in BitCoins based on the amount of contribution each person gave.

Choose Right Graphics Card for BitCoin Mining

In order to mine you don’t really need a powerful computer you just need a very powerful graphics card.

I’d recommend having a Nvidia GTX 1060 and higher or the AMD equivalent. I’ll leave a link to some dope-ass graphics cards here.

Don’t Try BitCoin Mining On This Machines

If you have a laptop please do not mine. That laptop almost never has powerful enough graphics cards. And when they do they don’t have good enough cooling to not cause permanent damage to your system.

If you have a Mac don’t mine NiceHash does not offer a program for Mac’s. Because they aren’t powerful enough to do it.

If you have any form of Intel integrated graphics don’t mine.

Let’s get started…

BitCoin Wallet

The first thing you need to mine BitCoins is a BitCoin wallet. Assuming you want to get paid.
A wallet is how you receive payment store BitCoins and eventually cash them out to your bank account if you want to do so.

You can use whatever wallet you want. But if you’re brand new to BitCoin I recommend using Coinbase. Since it’s extremely easy to set up. Buy and sell BitCoins and it’s a great central place for Ethereum, LiteCoins, and BitCoins.

It’s just really nice having everything in one location and you can even hook up a real-life Visa debit card to it.

BitCoin Mining Wallet

Coinbase Wallet for BitCoin

I will leave a referral link here for CoinBase where if you buy or sell $100 in BitCoins. Each of us will get an additional free Ten dollars – It’s free money.

Installing NiceHash Software

Now we need to get the NiceHash program on your computer.

So go to their official NiceHash download page which is here go ahead and download and install the program.
It’s extremely common for anti-viruses to pick up NiceHash as a threat but this is a false positive.
So added the exclusion in your antivirus.
I promise you it’s safe.

BitCoin Mining NiceHash Download

So here’s the main NiceHash Miner program UI is honestly easy and simple.

Let’s go ahead and explore it…

How to Use NiceHash Miner

The first thing you’re gonna need to do is to input your BitCoin wallet address so you can get paid.
If you have CoinBase login go to wallets and click receiving BitCoin address and copy and paste your address into NiceHash and click Save.

BitCoin Mining NiceHash 1

If you have another wallet that’s not Coinbase you’re gonna have to find your address within that program and then paste it into NiceHash.

Go to worker this is just the name of your device. So you can identify what device is mining. It’s not required but can you imagine if you didn’t name your baby! Come on…

BitCoin Mining NiceHash 3.1

Next go to configure here are your main settings.

You can select language and currency and the server which is closest to you and this is completely personal preference.
But avoid touching it at first.

BitCoin Mining NiceHash 3.2

Undermining you can have NiceHash only mine we’ve computer is idle in another word for not being used.

BitCoin Mining NiceHash 3.3

Which is dank as hell. You can autostart mining when you open the program and it just recently introduced fan control so nice hash will manage your GPU fans for you. I’d recommend leaving logging enabled.

BitCoin Mining NiceHash 3.4

So if you’ve ever encountered issues you can troubleshoot it online by providing logs.
You don’t need to touch the Advanced Settings. So let’s just leave it alone.

Back to the main page click hardware details and let’s optimize nice hash to make us those BitCoins.

BitCoin Mining NiceHash 4.0

First, decide if you want to mine with your CPU in addition to your graphics card.
If both are enabled you will get more BitCoins since nice actually use both devices to mine simultaneously. If you don’t want to wear out your CPU and only use your graphics card just disable CPU.

Your graphics card but most likely do the most work and your CPU is supplemental. So keep that in mind when you decide to use your CPU.

Click Benchmark all and click Precise option for a NiceHash to test all the algorithms and tell us which one will make you the most BitCoins. This will take a very long time. So be patient.

BitCoin Mining NiceHash 4.1

When it’s finally done it’s going to show your estimated BitCoins per day.

BitCoin Mining NiceHash 4.3

You can leave these all enabled since nice hash automatically selects the fastest ones. But I personally disabled the absolute slowest ones and leave the top fighter enabled.

BitCoin Mining NiceHash 4.2

 

Go back and you guys are completely good to go.

Click start and you’re gonna start BitCoin mining. Congrats you’re now a BitCoin miner.

To view how much money you have and payment dates and all the stats and Sheets click view stats online.

And here’s the webpage for your information. The webpage is based on the BitCoin address provided. If you change your wallet address inside NiceHash this page is going to change as well.
But you can change every other setting a NiceHash and the link who will not change.

So you can successfully start mining. Now I’m gonna go over some things I found useful to know from my experience mining. Which no one ever told me about.

Graphics Card

First mining is extremely hard on your graphics card so be cautious. It’s your baby have your fans blowing to keep your computer cool to avoid long-term damage. Actively check your computer temperatures to make sure nothing is getting too hot.

And do keep in mind that mining may shorten the life of your graphics card. I personally don’t think it’s a huge deal since I play on upgrading my graphics card every two or three years. But if you’re planning on keeping a graphics card for a long time more than three years.
Mining may prevent you from doing so.

Avoid High Temperature

To treat your graphics card better avoid mining at high temperatures. Don’t mine 24/7. I personally mine in 12 hours a day. From around 10 p.m. to 10 a.m. So it stays nice and cool and it doesn’t run the entire day.

Check Wallet Address Everytime

Second, after I started mining I checked my Coinbase wallet address and realized that it was different than the one I put inside NiceHash originally.
I freaked out thinking all the hours I put in the mining were Dion. But don’t be scared you didn’t miss type your address and lose all the BitCoins in mine.

Coin based changes your wallet address occasionally and it still saves all of your previous addresses link to your account. So don’t freak out like I did.
It is completely normal for that to happen. Just make sure you copy and paste the correct address the first time.

It’s an Awesome Work

Third realize that you’re doing something freaking awesome we need miners out there in order to keep BitCoin alive.

You’re one of the first people to even know what BitCoin is! Not to mention being involved and becoming a huge part of it. So don’t forget the big picture and realize you are giving back a tremendous amount to the cause so good for all of you and welcome to the awesome BitCoin community.

Leave a Comment