Crypto mining is the generation of coins with a computer algorithm. It can be compared to digging for gold. Cryptocurrencies such as Bitcoins, Ethereum or Monero are generated by solving a mathematical problem on a computer. The more valuable the coin, the harder the computer task and the more computing power you need to calculate. Consequently, one also speaks of farming bitcoins. With Cloud Crypto Mining Provider you can generate coins yourself and thus earn money.
The most important algorithms in coin mining
An overview of the most important algorithms with assignment of the respective generated crypto currencies:
- SHA-256: Bitcoin (BTC), Bitcoin Cash (BCH)
- ETHASH: Ethereum(ETH)
- EQUIHASH: Zcash (ZEC), Aion(AION), Bitcoin Gold (BTG)
- CryptoNight: Monero(XMR), Elektroneum (ETN)
- SCRYPT: Litecoin (LTC)
- Blake256: Decred (DCR)
- X11: Dash
Mining ways to generate crypto currencies
- Cloud Mining: This type of Crypto Currency Mining describes Internet service providers from whom you can buy or rent cloud mining packages.
- Browser Mining: Simply mine Crypto Currencys with the browser while surfing or playing.
- Mining pool: Crypto Currency miners join together in pools in order to be able to better solve arithmetic tasks together.
- ICO Mining: You can also invest in mining projects as a capital provider. So-called ICO IPOs enable you as an investor to invest in mining hardware and receive mining proceeds as a monthly dividend.
- Web server mining: If you have your own server, you can simply mine coins there in parallel.
- PC Mining: You can mine Crypto Currencys with your PC at home, but you need special software for this.
- Mobile phone mining: Farming Crypto Currencys with your mobile phone is child’s play. There are special coins that make this easy, for example the Electroneum Coin.
- CPU Mining: This type describes that the algorithm needs resources from the normal main processor.
- GPU mining: type that uses the algorithm’s resources from the graphics processor.