Using Bitcoin Miner app for cloud mining is a general term, given for websites that charge a monthly fee in exchange for mining cryptocurrency in an app for you. In this post I’ll explain what cloud mining is in detail, and expose the truth about its profitability.
The Google Play Store was full of apps and games promising free Bitcoins, or Android cryptocurrency mobile mining apps that multiply your earnings without managing the hardware. But is it scam, or legit? Let’s take a look!
What is Cloud Mining for Bitcoin?
Cloud Mining is the process of Cryptocurrency mining which utilizing in remote data center, and where shared processing power for all users. This type of cloud mining enables users to mine Bitcoins, or any alternative cryptocurrencies without managing the hardware.
Is cryptocurrency mobile mining really possible?
Nowadays, Cryptocurrency mobile mining is possible, but it comes with a long list of reasons not to do it. Moreover, mining on your smartphone doesn’t even come close to traditional mining hardware or software. In the current status of cryptocurrency mining, doing it on your smartphone might not bring you enough profits to be worth the time and effort.
It is not because the smartphones we have today aren’t powerful enough to be used for cryptocurrency mining. The main point is that, the tools that other miners use for mining are way more powerful. Which means that they have more and higher chances of winning the incentives.
As you may have learnt by now, regular cryptocurrency mining implies validating transactions on the blockchain, by solving complex mathematical formulas. This process requires your computer processor, or your GPU power to run, and consumes a significant amount of energy.
Cryptocurrency mining has become more of an industrial activity. Developers created softwares or apps specifically for mining, miners began to invest in ASIC mining devices that increased profitability, also pool mining was invented. All these innovations aim to gather more computing power to raise miners’ chances of solving the algorithms and getting rewards.
Cryptocurrency mobile mining is pretty much the same, but on an infinitely smaller scale. Nobody will stop you from using your smartphone to join a mining pool, or a mobile mining farm.
However, the power you share with your network is practically insignificant when compared with other miners. So, when the network shares rewards, you’ll only receive the percentage that is related to your computing power.
Is Mobile Mining profitable?
Considering the high cost of electricity fee, low computing power, and potential data fees during mobile mining, it proves to be a difficult method to earn cryptocurrency and make profits. While cryptocurrency mobile mining is still possible, the only way it will be profitable, is through the electricity costs reduced.
Details of Mobile Mining App
App Name : Bitcoin Server Mining
Size : 13.5 MB
Is Bitcoin mobile mining still worth?
It depends on what you mine, and what you are using to mine, it could take at least 30 years before your mobile mining investment becomes profitable. However, at least with cloud mining, you don’t have to worry about power consumption costs and other direct costs related to doing all of the mining with your own rig.
Any application which claims to “mine Bitcoins” and “FREE” on a smartphone is suspicious. Regarding to the news on BBC, Google started to ban mobile mining apps from 2018. You should pay attention and think before you go to such apps for making money.