Many bitcoins enthusiasts all across the globe can obtain bitcoins in three primary ways. They can either purchase bitcoins on a cryptocurrency exchange or accept bitcoins as your payments for the goods and services you provide or through free bitcoin mining. The bitcoin mining procedure signifies the discovery of new bitcoins by solving the complicated mathematical calculations.
This mining process is quite difficult as like digging the ground in order to take out the gold. Also, miners are required to set up nodes of some high-powered computers so that they can simply search out the verification key of all the bitcoins transactions.
However, they not only just verify only one bitcoin transaction but they continuously try to verify a variety of them at the same time. a ledger network which is known as blockchain keeps up all of these transactions virtually locked after grouping them in different boxes which are called hashes. The Job of bitcoin miners is only to run the software in order to find out the key that can easily open up the box.
As the first computer finds a key to the box, that box or the hash opens up and then the transactions are verified. Bitcoin miners are required to solve thousands of incorrect puzzles to search out for the right one. This procedure gradually becomes as difficult as finding a needle in a packed pile of hay. So, after you create a bitcoin block successfully, the miners will eventually get the rewards with 2 newly generated bitcoins.
How can you mine for free?
First of all, you are required to install a bitcoin wallet then create an account to hold whatever you earn. Then you need a bank account. After that, you need free mining software and need to install it and then you need to link your bitcoin mining account to your bitcoin wallet.