In the early days, when there were precious few bitcoins to go around, mining used to be the only way people could get bitcoin. Early uses of bitcoin were more about transactions and exchanges between the members of bitcoin communities and not about trading.
But in the last few years, bitcoin trading and crypto trading have surpassed mining and now dominate the crypto market. If you are trading bitcoin, it’s natural to explore other options of getting bitcoin as well.
Can Android Bitcoin Mining Apps Be The Alternative You Were Looking For?
When it comes to getting bitcoin or earning money from bitcoin, android bitcoin mining apps offer some advantages over trading apps.
Zero Monetary Investment: You don’t have to spend a single dollar if you are choosing a free mining app. You already have your phone, and you can set it to work. It will mine bitcoin (or other cryptocurrencies) for you, and you won’t have to invest any money for the setup. This is even more practical than computers because, unlike them, your phone will likely stay on 24/7.
Passive Investment: Unlike trading, which requires you to stay active for at least part of the day, and you need to execute timely trades to earn a profit from bitcoin trading, mining is an entirely passive investment. Once you set your android bitcoin mining app to work, you won’t have to spend any time optimizing or monitoring its performance.
Risk-Free: When it comes to mining, there is virtually no risk because you haven’t invested anything to begin the mining process and simply used the phone you already had. The only risk is that you might exhaust your phone and decrease its life.
Predictable: Apart from being risk-free, mining is also predictable. You just need to calculate your device’s accurate hash rate and decide for how many hours a day (or at which capacity) you want your android phone to mine for bitcoin. You can simply put the two in an online calculator, or your android bitcoin mining app will be able to inform you about the expected timeline. You’d know how much you are going to make in a given timeframe.
But like everything else, android bitcoin mining has both pros and cons. Some of the weaknesses when it comes to choosing android bitcoin mining over trading are:
- Android devices are significantly less powerful than computer-based or dedicated GPU-based mining rigs. From a price perspective, you might be able to find a decent mining rig for the price of a top-tier Android phone, though the rig would be more power-hungry.
- Android bitcoin mining puts a lot of pressure on your phone’s hardware, especially if it’s running 24/7. Your CPU won’t get any rest and might end up slowing down or dying altogether from its brutal usage.
- Android bitcoin mining is a very slow way to get bitcoin fractions. You might have better luck with relatively easy-to-mine cryptocurrencies, but compared to android mining apps, trading might be a more practical way of making a living from bitcoin.
Since it doesn’t require any prior knowledge or investment, you can get started with android bitcoin mining right away, but that doesn’t mean you would start earning right away. It might be weeks or months before you make any significant profit from your android bitcoin mining, and even that might not be a “profit” if you compare the electricity you paid for in the meanwhile. It might be a nice alternative, but it’s not a viable trading substitute, not for bitcoin anyway. However, it might be worth the effort to put your phone to mine different crypto before you visit something like bitcoin equaliser website for trading.