What is crypto mining & how does it work?

In short, crypto mining is how new units of cryptocurrency —usually called coins—are created. As you can imagine, this type of mining doesn’t involve callused hands gripping pickaxe handles. Instead, it’s computer processors that do all the hard work, chipping away at complex math problems.

How do I mine cryptocurrencies?

First, download the mining software for the cryptocurrency. You should be able to find the software on the cryptocurrency's website. Make sure you set up your mining device in a safe location with the proper cooling. Mining devices can generate quite a bit of heat, and they can be a fire risk if you're not careful.

What is bitcoin mining?

What is mining? Mining is the process by which networks of specialized computers generate and release new Bitcoin and verify new transactions. Mining is the process that Bitcoin and several other cryptocurrencies use to generate new coins and verify new transactions.

What are the different types of cryptocurrency mining?

Here are the different types of cryptocurrency mining you can choose from: ASIC mining: Mining using an application-specific integrated circuit (ASIC). This type of device is made to mine a specific cryptocurrency. It's expensive, but it also typically provides the highest hash rate, meaning it offers more mining power.