Changelly, the popular CFD trading platform, is focusing on providing educational material to the crypto community and wants to showcase the state of Bitcoin mining in 2020. The break down the most reliable Bitcoin miners of the year.
Bitcoin mining, or validating transactions on the Bitcoin blockchain, is the backbone of the decentralized ecosystem that allows cryptocurrencies to thrive and exist. Bitcoin mining has changed a lot since the inception of the network in 2008; at first CPUs were the most effective way to mine Bitcoin and now this method is highly unprofitable. Mining Bitcoin is inherently less risky than flat out purchasing the asset as you are able to hedge against the volatility of the moving price. Although it has become less profitable to mine Bitcoin due to the reward halving where the transaction verification payment dropped from 12.5 to 6.25 BTC per block, it is still possible to be profitable.
If you are interested in getting involved with Bitcoin mining, Changelly suggests checking out the following Bitcoin mining options:
• Easyminer
• Multiminer
• BFGMiner
• Nicehash
• Cudo Miner
Each mining platform has pros and cons of using their system, so make sure you do your own research before choosing the option you like. Watch out for malware mining software, as some programs will try to infect your computer in order to divert your BTC reward to themselves.
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