Bitcoin is a decentralized financial system where payments are not verified by a bank. Instead, payments are authenticated on the blockchain, with each new block a piece of information representing the movement of bitcoin from one person to another.
This is what makes sending bitcoin payments easy and efficient. If you own a Bitcoin wallet, from licensed and trusted companies like Luno, then you can send payments around the world conveniently, and more important, safely.
So, who verifies bitcoin payments? This is done by miners who add the information to the blockchain by racing to solve a mathematical problem using computer power and specialist software. In return for doing this, the miners receive a financial reward. This has given rise to a number of large scale bitcoin mining farms.
Yet, there is nothing stopping individuals from mining bitcoin and making a few extra bucks. To do it effectively you will need to have access to mining software. And to know which software to choose, that’s where we come in.
Three of the Best Bitcoin Mining Software
There are a lot of options out there when it comes to bitcoin mining software. Here are three of the best that may suit you.
1) BFG Miner
The BFG Miners is a good choice and suitable for Mac, Windows and Linux, but it doesn’t support GPU mining. It is targeted towards advanced miners who already know a thing or two about how mining works. So, it is not recommended to become your first-ever mining software.
Made specifically for ASICs and FPGA, this is a solid option. Although it is aimed at more experienced miners, the interface is not so complex and easy to pick up straight away.
Another option that works across Mac, Windows and Linux is MultiMiner. This is a really simple software to use and is aimed at newbies to the game. It is recommended to anyone who is mining for the first time. Nevertheless, it also includes some appealing features that keep more experienced miners using the software.
EasyMiner is an option for Windows users. One of the more sophisticated features of this software is that it provides users with visual statistics of how they are doing. You can also attach an LTC wallet to it to make your own privacy pool.
One cause for concern you will easily notice when reading testimonials is that the software does cause some problems with Windows antivirus products.
Is It Still Worth Mining Bitcoin?
Bitcoin mining has unarguably become a less lucrative task today than it was when bitcoin first started out. The rewards are smaller, and the competition is fiercer. This is evident when you see the abundance of huge mining farms that have sprung up, such as a 100-acre site in Texas (think of the cooling power needed!).
Nevertheless, bitcoin mining can still be seen as an investment. The cost of setting yourself up can be reimbursed over time, leaving you to pick up a modest sum each month, providing your computer doesn’t overheat and break.