How To Mine Bitcoin Cash? – is something you should know about. The reason for this Bitcoin cash is the new cryptocurrency which is gaining popularity with easy mining process. The confirmation done by the miner of the bitcoin cash blocks is 8 times faster than bitcoin.
So in this article, we are going to discuss the mining process and the benefits you are going to have.
Bitcoin Cash Mining
Bitcoin cash mining is the process like any other cryptocurrency. You have to operate on blockchains to verify and confirm the transactions. If you know even a little bit about the coding then you can easily become the miner by buying the proper hardware and downloading software which is required.
How To Mine Bitcoin Cash?
Before you start mining here are some of the things that are required.
- Hardware – to start the mining there is a need for the hardware which is not cheap. You might think that this will make you lose money or it is not a profitable thing to do. As the hardware you will be buying is very expensive and has the high maintenance cost.
There are some of the hardware which has a good reputation for the bitcoin cash mining.
- Halong Mining DragonMint 16T
- Antminer S9
- Antminer S7
- Software – can be easily downloaded and installed in the system. As there is multiple software which is available for you to be used.
- Electricity – mining is the process which consumes a large amount of electricity. So you should have a backup for that and expect a huge electricity bill on your doorsteps.
These are the things that are required by the miner before starting the process. so that when you decide to start mining then you will not face any problem.
Just like bitcoin, it takes time to confirm the transaction. For confirming that the miners have to solve the cryptographic puzzle. This puzzle is so difficult that it cannot be solved by the human mind. This requires a lot of computational power to solve this equation.
For mining this every miner gets the reward of 12.5 BCH which is going to reduce in the April 2020 up to 6.25 BCH.
Though there is a huge chance of getting the reward than the bitcoin. You should consider this that the reward you will be getting is in BCH which can very quickly. So you should think before investing so much money in the mining process.
Bitcoin Or Bitcoin Cash
You have to consider the fact that the price of bitcoin in comparison of the bitcoin cash is very high. The size as well as a great difference that is 1 MB for Bitcoin and 8 MB for other. Whereas the time consumes in mining these currencies is similar.
There is no benefit of choosing bitcoin over bitcoin cash. So think before start you start mining bitcoin mining.
Hope you might have learned about How To Mine Bitcoin Cash? But you have to know that the mining process nowadays is not an easy job to do.