Guide to digging Bitcoin for beginners

One of the biggest obstacles that I encountered when I started digging Bitcoin in investment and earning profit was that most websites were written for experienced users. I am not a professional coder, I have no experience with Ubuntu, Linux or Mac operating systems. So, below, I will show you how to dig the simplest bitcoin.

1. New planners need to prepare Bitcoin for the "buffalo plow" dig money?
2. Are you curious what inside the vast Bitcoin Iceland digging plant looks like?

Guide to digging Bitcoin for beginners Picture 1

1. Earn a bitcoin digger

Bitcoin digging is quite a competitive field because there are more and more digging systems with the most modern hardware but it is difficult to dig every day. Before you start digging Bitcoin, you need a special review. That means you need to find out whether digging Bitcoin is profitable for you.

The best way to do this is to use a Bitcoin digging calculator. Just enter the data of the Bitcoin digging system you plan to buy and see how long it takes to get a profit. However, one thing you should know is that if you don't have a few hundred dollars, you can't dig Bitcoin.

When you have finished calculating, this is the time to receive the training system. Be sure to check out the Bitcoin digging hardware reviews to understand which digging system is best for you. Currently, Antminer S9 is the new and most powerful digging system.

Previously, digging for Bitcoin usually only requires a computer or graphics card (also known as a GPU digging). Now, however, the Bitcoin mine has become more competitive and you will have to use the ASIC digging system - specially designed computers to dig Bitcoin.

2. Create Bitcoin wallet

The first thing you need to do is buy Bitcoin wallet. Because Bitcoin is an Internet-based currency, you need a place to keep Bitcoin. Once you have a wallet, remember your wallet address. It will be a long sequence of letters and numbers. Each wallet has a different way to get a Bitcoin address publicly. Note that you will need a public Bitcoin address rather than a private key (like the password for your wallet).

If you are using a self-hosted wallet (meaning that you have downloaded a program to your computer and do not use an Internet-based service), you have to take one more important step. Make sure you have a copy of the wallet.dat file on a small drive and print that copy out, then store it in a safe place. The reason is that if you have a computer problem that does not have a copy.dat file copy , you will lose all existing Bitcoin. They will disappear forever like cash.

3. Find a Bitcoin digging tank

You already have a wallet, but really want to create Bitcoin, you need to join the dig tank. A digging tank is a group of Bitcoin digging systems that combine their computing power to create more Bitcoin. Bitcoin is rewarded in blocks, usually 12.5 at a time and unless you are extremely lucky, you will not receive any Bitcoin.

In a digging tank, you will have smaller and easier algorithms to solve and all the combined work will make you more likely to solve larger algorithms and earn Bitcoin spread throughout digging tank. Basically, you will generate a certain amount of Bitcoin and are more likely to receive much profit than the initial investment.

When choosing a tank to join, you will need to ask some questions:

1. What is the bonus method? - Percentage / pay per share / based on points / PPLNS
2. Charges for digging and withdrawing money?
3. How often do you find a block (ie the frequency I receive the reward)?
4. The simplest way to withdraw money?
5. Which statistics do they provide?
6. How to stabilize digging tanks?

Here, I will use Slush's Pool when digging Bitcoins. Once you have registered the dig tank, you will receive a username and password for the particular digging tank that we will use later.

Follow the slushpool.com link to visit their website and visit the Sign up link at the top of the page and follow the instructions. After you set up your account, you will need to add a Worker. Basically, for every bitcoin digging system you run, you will need an ID worker so that the digging tank can track your contributions.

4. Find the training program for the computer

Now you have basic things that are almost ready to dig Bitcoin. You will need a peach client running on your computer so you can control and monitor the digging tool. Depending on the type of digging tool you have, you'll need to find their own software. Many digging tanks have their own software like Bitminer but others do not.

I am using a Mac, so I will use a program called MacMiner. The most popular program I found for PC is BFGMiner and 50Miner. If you want to compare different digging software, you can see here.

5. Start digging

Everything is ready. Connect the dig system to a power outlet and turn it on. Make sure you also connect it to the computer (usually via USB) and open the digging software. The first thing you need to do is enter the digging tank, username and password.

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Once configured, you will start the Bitcoin digging process. You will start the stock collection that represents part of the job in finding the next block. Make sure you have entered your address in the required fields when you register for the dig.

The above are the basic guidelines for new Bitcoin miners. If you are a new bie in digging Bitcoin then follow. In addition to the basic ways to dig bitcoin, we also help you understand what Bitcoin is? Why does it cause so much attention. Also, if you want to update bitcoin prices every minute, to know how much bitcoin is today, check out our today's bitcoin price chart. Wish you can dig a lot of bitcoins.