Bitcoin Mining - how to

The Speed of Bitcoinmining depends on a few factors. You need to cost of different aspects such as your electricity, the cost of the corresponding Hardware, and other variables into account. The following points to note especially:

• The more Bitcoin Miners are in a network, the more difficult it is to generate Bitcoins.
• Bitcoin Mining consumes a lot of power. In the case of high electricity costs, the Mining is not worth often.
• To operate Bitcoin Mining, you need to join a mining pool, what causes additional costs.
• For Mining you will need the appropriate Hardware. Here, too, it is going to cost you. Depending on how powerful your Bitcoin Miner to be, you pay up to 2,000 Euro.
• It is not known whether Mining will pay off in the future.
• If you don't know exactly what Bitcoin actually is, we recommend our practical tip for the popular crypto-currency Bitcoin. In the following Video, you will learn also the most important information.

The Bitcoins Mining is organised through so-called mining pools in which the users give their computing power is free. When a Bitcoin Block is created, each User will receive its fair share. To become a member of a mining pool, you need to create an Account. Two well-known mining pool provider, we list them here:

• The largest mining pool with Slush's Pool. In addition to the selection of different types of payment you can rely on a documented Support instructions and explanations.
• The German supplier BitMinter offers a private Mining Client, and shares the transaction fees are fair between all of the participating miners on.
• Note: in addition to the appropriate Hardware and a Mining Pool you need to the mines for a suitable Software. The about the free command-line utilities CGminer and BFGminer are. You prefer a graphical interface, are easy miner and guiminer is. Finally, you need to set up a Bitcoin Wallet on a Mining Client:

The mining pool Account alone is not sufficient to be successful on the bitcoin Mining part. For this you usually need a Mining Client. In this you log in with your previously created mining pool Account. The Mining Client will secure your Bitcoins in a Wallet.

• Bitcoin-Qt is an Open-Source project, and currently one of the first representatives of the Mining Clients. Here, you will not have to worry about any attacks on your virtual money.
• Also Open-Source and can be trusted Electrum. The Tool has a 2-factor authentication, the Support of Add-ons and the ability to export your Keys at any time to other Bitcoin Clients.
• More experienced users watch Armory , with which you even have multiple Wallets on one Computer to manage.

You are unsure whether Bitcoin Mining would be profitable for them, you can use a Calculator, you enter your data.

• Here's the Bitcoin Mining Calculator

General information on the topic of "Bitcoins" you will find in our guide "Bitcoins - what is that?".