Cryptocurrency Q&A
Where does my mined crypto go?
Where does my mined crypto go?
HanRiverVisionary
Tue Aug 27 2024
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7 answers
1890
Hello there, I'm curious about something related to cryptocurrency mining. I've been mining for a while now, but I'm still a bit unclear about where exactly does the crypto that I've mined end up? Is it stored somewhere specific, like a wallet or an account? Or does it go straight to some sort of exchange where I can trade it for other currencies? I'd really appreciate if you could clarify this for me. Thanks in advance!
7 answers
CryptoKnight
Thu Aug 29 2024
Upon successfully solving a puzzle, a miner is rewarded with a certain amount of bitcoins, which are then added to the blockchain.
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GalaxyGlider
Thu Aug 29 2024
The bitcoins mined are distributed to the miner who discovers the block, serving as a reward for their efforts.
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Elena
Thu Aug 29 2024
The reward system is designed to incentivize miners to continue their work in maintaining the bitcoin network.
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DondaejiDelightfulCharmingSmileJoy
Thu Aug 29 2024
The process of mining bitcoins involves a competitive race among miners to solve complex mathematical puzzles.
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charlotte_clark_doctor
Thu Aug 29 2024
Currently, the reward for mining a block is set at 12.5 bitcoins, which is halved every four years as part of the Bitcoin protocol.
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