Is it possible to mine Bitcoin on my phone? Nobody can dispute the fact that cryptocurrency has taken the world by storm. All over the world, everyone is looking for the best way to mine the various digital currencies such as Bitcoin. But, what does it take to mine Bitcoins, and is mobile mining a real thing or just a façade? We’ll try to find answers to some of these questions in this post by examining some of the critical factors in Bitcoin mining.
Can you mine Bitcoin on your phone? Yes, there are currently mining applications that allow users to mine for Bitcoin on mobile phones. However, mining directly on Bitcoin’s network with a cell phone will almost certainly produce unprofitable mining results. Check out my previous post on what Bitcoin mining is to understand what it takes to mine this cryptocurrency.
Furthermore, we have legit mobile apps that let you earn Bitcoins from your smartphone without worrying about the complicated mining process.
As a bonus, I’m going to show you a new cryptocurrency that you can start mining on your mobile phone right away. So, let us get started.
Mining Bitcoin on Your Smartphone: What It Entails
Before you even start thinking about the idea of mining Bitcoins on your smartphone, you need to keep in mind that mobile mining won’t make you any significant amount of money. The most successful and profitable Bitcoin miners keep the most powerful computers, and there is no shortcut to it.
There are a lot of non-profitable apps out there that claim to mine insane amounts of Bitcoin by just running on your mobile device.
But, the truth is that most of them cannot be trusted. Some apps even claim to “generate” Bitcoins for you in the background, and we all know that there is no such thing as “generating” Bitcoins. Therefore, you need to be careful about the app that you choose for your experimentation.
Apart from selecting a legit app, you will need a cutting-edge phone to stand any chance of succeeding. You will also need a standby energy supply and sufficient memory to complete the process.
But, I must insist on the point that mobile mining is not profitable at all. You will require sophisticated hardware and software setup to mine profitable amounts of any cryptocurrency. Many of the so-called mobile mining apps fail to provide transparent information about the mining process and rewards.
The Costs vs. Benefits of Mobile Mining
The primary difference between mobile mining and computer mining is the cost. If you want to try your luck in mobile mining, it is essential to think about all of the potential costs involved.
First, you’ll need to buy a powerful smartphone or tablet. The price will vary depending on the brand and quality.
Although the cost of mobile mining may be much less than the cost of a mining rig, you need to keep in mind that the power-intensive nature of Bitcoin mining could ruin your mobile device quite easily. Therefore, there is no guarantee that the number of Bitcoins you mine over the lifetime of your smartphone will outweigh the initial cost of purchasing the device.
Data fee is another potential cost involved in mobile mining. While it is possible to keep your smartphone or tablet connected to a wireless router to reduce the data fees, this move wouldn’t make your device mobile. Your device may be restricted to your house and data fees might escalate quite fast if you wish to mine while on the move.
Lastly, you need to consider the cost of energy since your mobile device would essentially need to be charged frequently.
The biggest benefit of mobile mining is that no upfront costs are needed with various mobile mining apps. While this may sound appealing to you, the bitter truth is that mobile mining can never compete with CPU, ASIC, or GPU mining rigs.
So, Is Mobile Mining Worth the Effort?
Determining if mining Bitcoins on your smartphone is “worth it” is a personal decision. However, there are some factors you need to consider while making the decision.
If you are after sustainable profit, then mobile mining is not worth the effort. The processing power of modern smartphones and tablets is just too weak and cannot be compared to the much stronger alternatives that you can find out there. A smartphone or tablet may be a cheaper mining option, but you’ll only get an insignificant amount of Bitcoins in the end.
On the other hand, if you are mining for fun, then you can try out the different mobile mining apps and see if things work out in your favor. After all, there are many people out there that mine Bitcoins just for fun, and you can be one of them. It could be your way of earning a few bucks on the side.
But before you start the process, you should be ready for the consequences, such as your smartphone battery draining constantly. Bitcoin mining is a resource-intensive exercise that takes up a lot of power no matter the device you’re mining on.
Considering the relatively high cost of energy, the low computing power of mobile devices, and potential data fees, mining Bitcoins on a smartphone can be quite challenging.
Pi Cryptocurrency: The Best Way to Crypto on Mobile
When Satoshi Nakamoto first developed bitcoin in 2009, it was supposed to make digital currency readily accessible to all people. However, things changed along the way, and today, only a few individuals can still mine the crypto profitably. To solve this issue, a group of three Stanford graduates came together to develop Pi cryptocurrency that promises to transform the blockchain space in a few years.
Pi cryptocurrency is a relatively new crypto platform that integrates a “smartphone mine and earn feature.” The crypto seeks to correct the shortcomings of bitcoin by offering a unique platform where miners can collectively control the Pi network as well as ownership of the Pi coin to prevent possible centralization of the network.
The Pi mining app was launched in March 2019, and the network has been growing rapidly. In slightly over one year, the number of Pi users is almost hitting 5million.
Many users consider Pi to be a highly convenient and intuitive mining platform. Everything about the project is explained in their whitepaper in a simple and understandable form. The three main benefits of the Pi cryptocurrency are:
- Simplicity. Even if you have never heard of cryptocurrency before, it is still easy to mine Pi without a struggle. You only need to download the app, register on the platform, and you are good to go.
- Fair distribution. Unlike other cryptocurrencies, the number of Pi coins you mine does not depend on the capacity or power of your device.
- Extra earnings. Pi users who contribute to the development of the Pi network receive an additional mining reward.
The project is highly attractive to anyone looking to join the cryptocurrency mining space or anyone looking to expand their crypto portfolio. I have written a detailed guide on Pi cryptocurrency that you can read here.
Mobile mining may gain momentum as technology improves, but at the moment, there is no profitable way of mining Bitcoins on mobile devices. Although there are a few apps that can be used to earn a small fraction of what GPU or CPU based mining rigs fetch, the cons outweigh the pros.
The crypto market is growing pretty quickly, and it is advisable to wait for the blockchain-based mobile market to grow and become more sustainable before you dive into mobile mining.
This way, you’ll be sure of earning a decent profit from Bitcoin mining. For now, if you want to mine Bitcoin, you should be ready to invest in a good mining rig to avoid disappointment.