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Can you make money by mining Bitcoin on Android

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How to mine Bitcoins on a phone?
Make Money By Mining Bitcoins
What is a cryptocurrency?
Google bans cryptocurrency mining apps from the Play Store

image

Latest generation Android smartphones have more computing power than some computers. You may be wondering if it is possible to use the processor power of your smartphone to mine Bitcoins? Is it a profitable operation? What we will see in this file dedicated to cryptocurrencies..

How to mine Bitcoins on a phone?

Your phone spends most of its time sitting on your desk. The vast majority of its capabilities remain unused most of the time. Why not make it work to mine Bitcoin?

You may not know it, but today's smartphones have more processing power than supercomputers of the past. Some of you will most certainly be tempted to use it to earn a few euros or rather should I say Bitcoins.

What is a cryptocurrency?

Virtual currencies such as Bitcoin, Ripple, Litecoin or Ethereum have experienced some ups and downs in recent months (increases and crashes in series). But despite this media overexposure, Bitcoin remains one of the safest trading currencies in the world like the dollar or the euro..

image With the difference that transactions are made only from the internet. Bitcoin like other virtual currencies neither have any physical support. Despite the many illustrations on websites, there are no coins or Bitcoins banknotes.

You will also not be able to shop with checks made out in Bitcoin. This virtual currency has no legal tender in any country in the world. Its value is constantly changing according to supply and demand..

This absence of a supervisory body (central bank) may seem confusing. And yet security and anonymity are one of the greatest qualities of Bitcoin. All transactions use a cryptographic system (very complex mathematical calculation) based on a decentralized system.

Each operation therefore requires high computing power. Thanks to the internet, several million computers (miners) around the world work daily to ensure the security of all its transactions.

Make Money By Mining Bitcoins

Each individual with an internet connection can participate in the resolution of these complex calculations if he or she makes available to the community part of the power of their processor. To do this, simply register on one of the platforms offering Bitcoin mining.

You will then be asked to install an application on your smartphone. The latter will use the processor and graphics chip of your mobile to secure Bitcoin transactions. Everything is done automatically. You have nothing to do.

For each block of calculation performed, you will receive a profit in the form of Bitcoins proportional to the calculation power that you have provided. The more powerful your smartphone, the higher the gains. Don't expect a miracle though.

With the appearance of giant Bitcoin farms in China (several thousand servers are running 24 hours a day), the gains offered to miners have been decreasing in recent months. Besides, some of them are losing money. Mining is particularly costly, particularly in terms of energy.

Google bans cryptocurrency mining apps from the Play Store

Second bad news, Google has decided to ban all apps used to mine cryptocurrencies from its store. You will therefore not be able to download Bitcoin mining tools from the Play Store. There are, however, other solutions for obtaining cryptocurrency mining applications. This is the case, for example, with APK files.

However, I do not recommend this method. The risks are too great. These files are not subject to Google security analysis. APKs may contain malware. They absolutely verify the source of the file and absolutely avoid transmitting personal information such as your bank details.


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