Free Bitcoin Mining: Can I Mine Bitcoin For Free?

Bitcoin mining is an expensive task considering the equipment a miner must invest in, but is there a way to facilitate free Bitcoin mining?

As Bitcoin continues to become more mainstream with the Mt.Gox bitcoin release date, the number of those hoping to earn Bitcoin through Bitcoin mining has also grown.

In turn, this has made it more difficult to actually earn rewards from mining without a huge investment as the Bitcoin mining difficulty increases. People are now also quite keen on exploring certain free bitcoin mining softwares and alternatives to earn BTC for free.

in the latest Bitcoin news today, the market is filled with free mining software that claims to facilitate free cryptocurrency mining and earn free crypto rewards too.

Let's take a look at whether this software can help people mine bitcoin for free.

Free Bitcoin Mining: Can I Mine Bitcoin For Free?

Technically, you can mine Bitcoin for 'free'. If you already have the equipment, you can download one of the many free Bitcoin mining software available. However, this is just one element of the mining process, with other elements - mainly the hardware - needing consideration.

Mining Bitcoin is not as simple as it may seem. Miners must consider the amount of electricity and power it consumes, even after you possess the proper gear and software to begin your mining journey. This means that you will be paying for mining Bitcoin via your electricity bills.

Throw in the expensive ASIC miners needed for a Bitcoin farm, and the potential pool fees for mining, and it quickly becomes a venture with high start-up costs.

Indeed, given the claims that cryptocurrency mining can damage your GPU, you may need to splash out even more.

However, there are several places that claim to let you mine Bitcoin without this.

• Read More: How Many Bitcoin Are Left?

Free Bitcoin Mining: Legitimate or Scams?

Outside of the standard open-source Bitcoin mining software that will use your powerful ASICs or GUIs to mine Bitcoin, you will stumble upon a service that offers free Bitcoin mining without the hardware requirements.

While cloud mining - basically renting out mining equipment elsewhere - is a growing industry within the mining world, others claim to be able to mine using your equipment with this software.

Given the information we've added above, you should be very cautious about such claims. Make sure to do your own research and due diligence around any of these services, which could be attempting to scam you and gain control of your devices and passwords.

Can I Mine Bitcoin For Free On My Phone?

While numerous websites on the internet state that it's possible to mine Bitcoin via a smartphone. Our suggestion would be just simply don't do it unless you want your phone to die an early death.

Bitcoin mining is a comprehensive process that requires a lot of energy to create new blocks and verify transactions simultaneously. Hence a smartphone might not be the correct device to begin crypto mining with.

Furthermore, the websites asserting that they can help your smartphone become a temporary mining rigs are nothing but a scam and one should tread that way carefully and should avoid downloading any such suspicious apps as they may also include malware and bugs that can corrupt your phone.

What Do I Need To Mine Bitcoin Professionally?

To mine Bitcoin using the best professional practices, a user must:

• Purchase and set up a legitimate Bitcoin mining hardware
• Create a dedicated Bitcoin wallet
• Configure mining equipment such as GUI etc.
• Set up an energy reservoir such as external energy/electricity supply which cannot be disrupted easily.
• Download the copy of the blockchain for the cryptocurrency that you wish to mine.

Free bitcoin mining software

There is multiple free Bitcoin mining software that claims to help miners help mine BTC cost-effectively and affordably.

Some of the popular free bitcoin morning software are BTC miner, roller coin, kryptex, better hash, etc.

Although we would advise users to use legitimate software mining gears instead of conducting extensive mining without professional gear as it may damage your laptops permanently.