Bitcoin

Bitcoinfansites Ultimate Beginners Guide To Bitcoin

The Ultimate Guide To Bitcoin and Its Mining Hardware

If your looking to get into the world of bitcoin then look no further than our ultimate beginners guide to bitcoin, Litecoin and their alternate crypto partners.

Bitcoin first emerged way back in 2008 and since then it has grown in epic proportions but what do you need to actually get some for yourself… we take a look in this ultimate guide!

Bitcoin Wallet’s

The first thing you are going to need before even mining bitcoin is whats called a bitcoin wallet. This is a piece of downloadable or online software that can be used to hold the coins you mine and there is usually a version available for every type of coin on the internet. Click Here To Download

Your wallet, once installed will feature several things but the most important of these is your receiving address that will be made up of lots of different numbers and letters that will eventually let you receive your coins.

The second most is important feature of your bitcoin wallet is its security features and they include a pin feature that, if set, should not be forgotten in order to send your funds to an online exchange.

Mining Hardware

The ultimate beginners guide to bitcoin will now look at the hardware used to mine these precious online coins and one of the best hardware components to use is the ASIC miner.

ASIC Miners or application-specific integrated circuit miners, are chips that have been designed from the ground up to mine nothing other than Bitcoin’s and the more you have, the more Bitcoin you can mine, but they are not cheap with an average miner for today’s Bitcoin difficulty costing in excess of $3000.

For Scrypt Coins such as Litecoin and Infinite Coin ASIC’s are of no use and mining these coins requires the use of Graphics Card’s with Radeon the choice of most miners due to the large amounts of threading power they produce. There are hundreds of different types of cards for mining and they can easily be snapped on eBay or from computing websites such as Overclockers.co.uk or Maplin.co.uk

The market is not scarce of the vendors, for some of the best like CoinMiningDirect, have provided suitable hardware at affordable prices. Coin Mining Direct review blogs have praised the suppliers for legitimate and user-friendly appliances obtained at pocket-friendly fares. Ultimately, it is highly necessary to judge for the profitable hardware to attain results. 

Mining Software

Once you have your mining hardware and wallet the next thing your going to need is software that will use your graphics card to mine the coins of your choice.

By far the most widely used mining software is CGMiner which is a MS-DOS based mining software that can be installed on a desktop windows PC and then set to mine at whatever speed your hardware is capable off.

If you are interested in using CGMiner as your program then you can download it HERE and watch setup guides for both Bitcoin and Litecoin.

Linda
Linda Alvarado loves writing about technology and science updates. She also loves to keep her mind and body fresh by doing intense workouts and meditation sessions.