While you can earn Bitcoin by receiving it or trading for it, another great way to earn Bitcoin is through Bitcoin mining. This is done by using a dedicated device which is called a miner, typically these devices have a high computing capacity. Sometimes these miners are full PC systems, which can be very complicated. USB-powered mining devices are becoming very popular as they are easy to use and have a very low power consumption.
How Do USB Bitcoin Miners Work?
USB Bitcoin miners will perform Bitcoin mining functions when they are connected to a computer with suitable software. The speed at which the mining is done is called Hashing. The idea is that you want to have a high hash output, so in order to achieve this multiple miners can be plugged in together. Most typical computers and laptops only have 2-4 USB ports available, so many people invest in a 6-10 port USB hub. This hub is then connected to a computer which controls the USB miners that are connected to it. One of the most popular pieces of USB mining software is BFGMiner, but there are lots out there. Also many people do not use a standard PC, but rather something like a low-cost Raspberry Pi to run the miners as it uses far less power. Once you mine Bitcoin you can store it in your Luno bitcoin wallet or trade it online.
Why Use USB Bitcoin Miners?
There are a few reason why you should use a USB bitcoin miner, which I will explain. One of the biggest reasons is ease of use and easy setup. Many USB bitcoin miners are plug-and-play meaning that you can just plug them in and they start working. This is far easier than setting up an array of graphics cards for mining. The next thing is that they use far less power than other mining techniques. So your cost of mining will be far less than other solutions.
With cryptocurreny and Bitcoin in general exploding it is definitely worth looking into mining your own bitcoin. This way you can learn about bitcoin while earning it at the same time!