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10 Best Bitcoin Mining Software 2018

  • George Shnurenko
    ⭐ Features

    Whether you decide to mine alone or in a group, here’s a list of 10 best mining software


10 Best Bitcoin Mining Software 2018
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Bitcoin mining is concerned with how transactions are verified and confirmed on the Blockchain network and this is done using special tools and equipment.

What is a Bitcoin mining software?

A Bitcoin mining software works in collaboration with the relevant hardware to solve computational algorithms on the network and execute these transactions.

Steps to becoming a Bitcoin miner

Becoming a Bitcoin miner involves getting the best Bitcoin mining software. However, this is not all. Here are some other things you need to do.


  1. Get the appropriate Bitcoin mining hardware

  2. Get the best Bitcoin mining software

  3. Set up your Bitcoin wallets

  4. Begin mining

What factor should be considered before mining

Mining is no small feat. It is not surprising that there’s a high demand for some of the best Bitcoin mining software for windows. Before you become a miner, you need to research and strategize. In the course of your research, you’ll realize that certain factors rank highly in the scale of preference and you must give these factors serious thought.

In essence, what should you consider?

  1. The cost of electricity

  2. The cost of Bitcoin mining hardware

  3. The cost of Bitcoin mining software

  4. The cost of cooling

  5. Transaction fees

  6. Miner fees

It sounds like a whole lot of work, but really, it isn’t. After you settle these considerations, move on to some of the best mining software for Bitcoin and other currencies.

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Best Cryptocurrency Mining Hardware in 2019

CGMiner

CGMiner is a Linux-based software which was coded in C. For about six years now, it has enjoyed widespread usage among cryptocurrency miners and this is largely because of its compatibility. It uses a command line interface as opposed to GUI. However, it remains a very user-friendly interface. For example, the speed of the fan can be changed using very easy keyboard commands.

CGMiner was designed for hardware mining, although this does not stop you from using CPUs and GPUs. Also, when you consider the best Bitcoin mining software windows 10 works with, CGMiner is probably not going to be mentioned. This is because several anti-virus software blocks the download. The lack of a GUI might be a turnoff for some, but it doesn’t dispute the fact that this is a top-notch Bitcoin mining software.

EasyMiner

This is GUI-based and it is ideal for both Windows, Linux, and Android. Just as the name implies, it makes mining easy with its interactive GUI. When you set it up, the software is in a default “MoneyMaker” mode and this mode creates a wallet for Litecoins. In addition to this, it begins mining using the machine’s CPU instantly.

EasyMiner also serves as the frontend for mining software without GUI like CGMiner and CPUMiner. This makes it possible to dedicate your CPU and GPU to mining Litecoins while ASIC is dedicated to Bitcoin. The dashboard lives up to the hype and it is incredibly easy to navigate, change the mining pool, adjust the network settings, and carry out other activities.

BFGMiner

Just think of a CGMiner which was designed to work with application specific integrated circuits (ASICs), and you will end up with BFGMiner. This feature makes it arguably the best software for Bitcoin mining. Also, it is ideal for cryptocurrencies using the SHA256 mining algorithm. Like other popular mining software, it allows you to connect to multiple mining pools.

Also, it allows you to save electricity costs by limiting the connection when a particular mining pool is not reachable. It is also an open-source software, and like CGMiner, it offers a command line interface. Because of how versatile the software is, it can also be considered as the best Mac Bitcoin mining software.

Bitcoin Miner

This miner is available for Windows 10 and 8.1. The UI is easy on the eyes and the software boasts other factors which. The power saving mode, the support provided in mining pools, and the rapid share submission make Bitcoin miner one of the best mining software for Bitcoin.

BitMiner

Like many other Bitcoin mining software, Bitminer was introduced in 2011 and it boasts 450,000 registered users. The software offers flexibility and using it is considerably easier. However, considering the number of users, you might need to invest more in a reliable ASIC miner to gain ground when you join.

MultiMiner

This is a graphical user interface based mining software. Although it is hailed as one of the best mining software for Windows, it can work on Linux and MacOS too. Working on these platforms will, however, require additional software. This is, no doubt, the best mining software for new users who aren’t familiar with the Bitcoin mining space as it offers a user-friendly and intuitive design.

Basically, this mining software is excellent because it has the ability to make the process easy. It provides detailed instruction on how to connect to a pool after the software has been installed. In addition, those really confusing terms are clearly defined in this piece of software.

After the setup, the software automatically performs a scan and then detects the hardware being used. MultiMiner then provides details about the hardware which relates to the mining process. The fact that it can also display your projected profits make MultiMiner one of the best free Bitcoin mining software.

Although this software is free, you have the option of sending 1% of the profits you make from mining to the developer. It is not compulsory and you’re free to opt out at any time.

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BitMinter

BitMinter uses special mining pools which bear exactly the same nomenclature. It is also very easy to use and the process of getting paid makes it more attractive. This is regarded as one of the best software for mining Bitcoin as it supports Windows, Mac, and Linux. Although you get the software for free, it charges 1% commission for mining with them.

Phoenix Miner

This Bitcoin mining software is free and open-source. It was also released by two members of the Bitcoin community in April 2011. It also provides support for RPC, w/LP, and MMP. In addition, the kernel loads automatically and it was promised that irrespective of the source of a new and more efficient kernel, the better version will always be adopted.

BTCMiner

This is an open source miner which offers dynamic frequency scaling, allowing the miner to automatically select frequencies with high hash rates. It also works without Xilinx software or license.  

Pyminer

This is a ‘getwork’ CPU mining client which is used for mining Bitcoin. It is a Python-based toolkit and it is used to provide a reference implementation which can be studied. If you want to begin mining using this software, you are required to build and run Bitcoin from source on your PC. Although the project was announced over 7 years ago, it is still quite slow compared to other Bitcoin mining software. This is because it is pure-python.

Conclusion

”What is the best software for mining Bitcoin?” Well, this question has 10 different answers you can pick from now. Based on the hardware you have available and the scale of your mining operation, you can begin mining using any of the software recommended.

Cover image via u.today
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Question of the Day: Can Stablecoins Accelerate Cryptocurrency Adoption?

  • Yuri Molchan
    ⭐ Features

    Stablecoins show hardly any volatility compared to Bitcoin and altcoins, many are hoping that they will be able to bridge new crypto economy and regular fiat money


Question of the Day: Can Stablecoins Accelerate Cryptocurrency Adoption?
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Bitcoin, the father cryptocurrency, emerged in hope that it will remove all intermediaries in electronic commerce that cut off their share of payments. BTC was perceived as a P2P way to replace fiat cash in an electronic format, which would enable one party to pay another without any financial institution or payment platform which would demand its share of a transaction as a reward for its services.

What is wrong with Bitcoin

For quite a while Bitcoin was performing the way the crypto community expected. But the situation changed later – BTC rate became weaker, thus bringing down its financial and economic reliability, when it gets to be used as a regular means of payment.


You cannot have a currency that would cost like a British castle today, a gram of gold – tomorrow and a pack of French fries the day after.

At that point practical fintech minds came up with an idea of creating something which would become a breakthrough in the universe of crypto – a so-called stablecoin.

Will stablecoins solve the volatility problem?

Technically, stablecoins are protected from the volatility roller-coaster that Bitcoin and other cryptos love to ride. They are programmed to keep their prices stable and investors now are largely attracted to this new type of digital assets.

Stablecoin does not show any volatility in its monetary value, since it has a fixed connection to an asset it is pegged to. The major goal of using stablecoins is taking the best from decentralized crypto coins and combining it with a constant value. Thanks to it, stablecoins can be used as a reliable means of trade.

Asset-pegged stablecoins

Asset-backed ones get their value from an asset as can be understood from the name. An asset provides the necessary value to a coin, as well as the necessary legitimacy.

A great example of an asset-pegged stablecoin is Tether (USDT). In spite of a series of scandals at the end of last year, it remains the most popular stablecoin in the crypto market.

Recently, it has partnered with the Tron Foundation to launch a Tron-based stablecoin.

Other examples are TrueUSD (TUSD), USD Coin (USDC), the Gemini Dollar (GUSD), and the Paxos Standard (PAX). They are all pegged to the USD.

Crypto-backed stablecoins

Some digital coins work in a similar way to fiat-backed ones, however, they are pegged to collateral crypto. That means that crypto assets that ensure the value of such stablecoins are stored in a wallet similar to escrow.

A good example of a crypto-pegged token is Maker, which is ranked 16 on CMC.

Algorithmic stablecoins

Even though, stablecoin can be interesting at first thought but the way they are built goes against the principle of decentralization that crypto coins have as a foundation. Thus, many crypto fans and evangelists are positive that stablecoins must be linked towards not a centralized asset but a computer algorithm which takes value from a balance between supply and demand.

Basis is now considered the most promising algorithmic stablecoin of all.

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Can stablecoin ensure smooth future for the crypto industry?

The primary goal of all crypto assets was and remains to come up with virtual asset that would be liquid enough and not vulnerable to market volatility. From this point of view, stablecoins are a dream of all crypto fans and evangelists of a decentralized economy.

Apart from the potential to conduct crypto transactions smoothly, experts believe it can bridge the two worlds – fiat and crypto, bringing them a mutually beneficial coexistence. However, that may take time.

Cover image via u.today
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