If you’re just discovering bitcoin, you will often stumble on what people call as bitcoin mining. So what is bitcoin mining? Bitcoin mining is the process and the action of processing a chain of bitcoin transactions (blockchain). As a reward to this, the miner gets rewarded with newly formed bitcoins. They use specialized specific computers to complete such tasks. The more transactions are processed at a certain rate (hash rate), will determine how much potential bitcoin a miner will earn.
But mining is another story, for most consumers, since they mine through a miners platform where they can collect their investment at a certain time. Bitcoin mining might be complicated as far as bitcoin miners are concerned, but on the other end of the line where customers are availing mining services through a platform, its the exact opposite. Because if you’re a customer all you have to do is invest, wait and withdraw!
But wait, before you invest in one of the bitcoin mining platforms that you saw online, you have to know that not all bitcoin mining sites are legitimate. There are some that are just stealing from you and since there’s no way to get your money back, once you send out bitcoins, they will get profit and you will be on the losing end.
Free is not always bad:
There’s a stigma in almost any web forums about free bitcoin mining sites. Most people will tell you that’s it’s just too good to be true and those things are not really good. But in fact, it actually is! Most don’t really need any initial investments, some run ads to be profitable and they offer games in exchange for bitcoin. The only thing is that you’re doing the work to get your bitcoin but, it’s ok, it’s free anyway.
Bitcoin mining is one of the common terms that you will encounter when you try bitcoin, and that is because these sites offer you the opportunity to invest in bitcoins without the hassle. This is the most common way in acquiring bitcoin and there are two options. Either do for the paid ones or the free ones, With regard to the free bitcoin mining places, there’s a stigma to it that it’s not legitimate, but there are actually legitimate ones, you just need to know where to look.