Mining includes the use of special equipment (e.g., GPU, ASIC, FPGA), which uses computing power and software applications for controlling mining devices.
Changelly continues to provide educational materials about the crypto world and blockchain technology. In our review, we are going to talk about the most reliable Bitcoin mining programs of 2020. You will be able to independently mine cryptocurrency on a PC running Windows Mac OS, and Linux. Here we go.
The State of Bitcoin Mining
Cryptocurrency mining is the process of solving blocks by using the capacities of special equipment. For each solution found, the user (miner) receives a reward in the form of coins. Specialized equipment includes ASICs, GPU, and CPU. At the dawn of Bitcoin mining, the latter was the only and the most profitable option to mine BTC. As of 2020, to mine BTC via CPU hardware is highly unprofitable.
Mining crypto is less risky than making a direct investment due to hedging volatility. However, Cryptocurrency halving does have the potential to drastically change the situation. After each halving, the profits from currently relevant equipment fall by half. The recent Bitcoin halving reduced miners’ reward from 12.5 BTC per block to 6.25 bitcoins.
It is important to do the research before diving into mining. To calculate mining profitability, it is highly recommended to use mining calculators which help new miners to assess electricity costs and other nuances of cryptocurrency mining.
Best Bitcoin Miners
We have prepared the list of best Bitcoin mining software. The miners may vary in device (ASIC/CPU/GPU) compatibility and supported platforms.
This application has been working successfully for several years now and is only getting better with each update. It has the widest range of features and an active community, which makes it indispensable for both beginners and professionals.
CGMiner is a cross-platform so this is a perfect Bitcoin mining software for Mac OS X, Linux, Windows. and other operating systems. It is compatible with FPGA and ASIC firmware. CGMiner has a command-line interface, providing full monitoring, fan speed control, and remote control capabilities. CGM comes with a scalable network scheduler.
More advanced users will enjoy the open-source code, the possibility of hardware overclocking, and the automatic detection of new blocks using the built-in database.
EasyMiner developers tried to create the most beautiful graphical interface possible and to unify a wide variety of settings for cryptocurrency mining. Bitcoin, Litecoin, and many other major cryptocurrencies based on the SHA-256 and Scrypt algorithms are available. Regular mining, cudamining, ccmining, cgmining and mining using ASIC are all available to choose from in the settings. This is a truly easy bitcoin mining software.
In solo mode, users can select any pool and hash algorithm. Please note that there is also the integration of the NHIL (Network Hardware ID Layer) protocol, which provides an additional level of protection for the pool and the wallet.
The main drawback of EasyMiner is that it only works on Windows.
MultiMiner is a cryptocurrency mining program with a convenient interface. Miners use this program to create strategies for switching crypto mining devices between coins (GPUs, ASICs, FPGAs). By installing the utility, a novice user is freed from not only having to create an executable file manually but also from having to look for profitable altcoins and pools for mining.
The software has other online services integrated into it, so data on profitability is always up-to-date. To make monitoring easier, you can install the MobileMiner Android application on your smartphone.
BFGMiner is a console mining application that maximizes the potential of the equipment. In the BFGminer program, the configuration is executed by entering the program code into the control file. After entering variable values following the BFGminer pool settings, all you need to do is save the .bat file and start the mining process. The latest versions of BFGminer are designed to work primarily with ASIC/FPGA devices. Run the parameter opencl: auto to start mining on video cards.
NiceHash is a multipurpose program that allows you to use processors and video cards as computing equipment. The service will enable you to mine cryptocurrencies using 30 different algorithms. Please note that all charges are automatically converted to BTC.
The program will require authorization immediately after installation. You should register on the NiceHash website before using the software.
Cudo Miner is probably the best altcoins and bitcoin mining software for Ubuntu. It’s important to mention that Cudo Miner also provides BTC mining software for macOS and Windows so that users have a really wide choice.
It is an easy bitcoin mining software as the setup process is quite plain. All you need is a solid PC and email address. On the tough mining path, Cudo Miner might be the best option for beginners.
Malware Mining Software
Cryptomining malware are software programs and components developed to take over the computer’s resources and use them for crypto mining without a user’s explicit permission.
One of the most infamous apps of this kind is Loapi. Its initial purpose is to use the Android processor to mine cryptocurrency. However, at the same time, it also destroys the device. Beware of various phishing techniques that might affect your devices in a fraudulent way. The recommendation we always provide our readers with is: don’t forget to do your research.
The profitability of Bitcoin mining on a home computer is directly proportional to its processing power. A few years ago, when cryptocurrencies did not have the same popularity as they do now, coin mining could be done on almost any device. These days, everything has changed. Both the number of miners and mining difficulty have grown significantly. Even mining on a laptop is now completely unprofitable unless you are using an external processor.
If you buy a powerful computer, its cost, as well as the electricity bills will be paid off, but it will take a long while. From a technical point of view, you can mine on a computer, but due to the high complexity of the mining network, the equipment will not be able to provide you with the results you expect.
You can always buy Bitcoin instantly on Changelly. Buy BTC with a credit card (Visa, Mastercard), bank transfer, or Apple Pay.
Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.