The consideration of not having to buy your crypto yourself but instead mining it seems very interesting to many people. But is this really possible with your phone? And can it make you a profit? In this blog, we take a look at what crypto mining is. If you can do it with your phone. And the different types of mining. Because many so-called miners do not really mine crypto. But instead, mint or just give out free crypto. We explain more about this later. Let’s first take a look at what crypto mining really is!
What is crypto mining?
Crypto mining is the term that we give to validating transactions on a blockchain in return for new tokens/coins on that blockchain. With Bitcoin users can earn the mining reward by supplying computer power to the network. We call this system Proof Of Work (POW). The POW algorithm makes “miners” compete with their computer power. The computer that solves a mathematical problem first will win the mining reward and the turn to validate the transactions for that block. When we say block we talk about the batch of transactions being confirmed at that moment.
Multiple cryptocurrencies like Zcash, Flux, Monero, Ethereum Classic, and many others work with this same algorithm for confirming transactions. They choose it because it has stood the test of time and anyone with any device can add some of their computer power to the network.
But not all cryptocurrencies use POW. No, many others use a large variety of different consensus algorithms. POS (Proof Of Stake) as one of them does not use this much computer power. But requires their validators to hold the network’s crypto token. This process we call staking and not mining. A mistake we see made often which can be very confusing is when people revert to staking or minting tokens as mining crypto. But this is not the same thing. Mining crypto simply and only refers to the process of creating new crypto/Bitcoin with your computer power.
The difference between POW mining and minting
Like we mentioned above many cryptocurrencies make use of POS and not POW. These cryptos can thus not really be mined. Still, we do see a lot of blockchain tokens use this term. Especially when it comes to mobile crypto miners. Many of the so-called mobile crypto miners let you “mine” crypto that is not Bitcoin. They say that you mine crypto but instead you really just get tokens awarded to you. These tokens were probably minted by them and then given to you. Or mined by them and then distributed to you for having their app or having an account with them.
We can not call this process crypto mining. And you should not always trust these apps/mobile miners. Because a large group of them just give out tokens to see if people will give value to them and then dump their large share of the token on the open market. We call this a crypto-miner rug pull scam. Many people have already fallen for this. So please make sure to not buy any of these types of tokens without knowing about the fundamentals of the project. A project that only builds on the fact that they give out free tokens will most likely end up scamming people out of their money.
Check out our blog about the 5 most common crypto wallet scams! So you do not fall for any of them.
Crypto mining apps for Android
Because listing an app on the google play store does not require the same rules and checks as the iPhone’s app store, you will find many more “easy” crypto mining apps for android. This means the list has many and grows by the day. As well as shrinks on others. Because many of these apps are scams and some thus get removed over time.
If mobile crypto mining on android phones or tablets is still something you would like to do. Then please make sure you check the app and the company thoroughly. So you do not fall for a scam app. We will put a list of mobile crypto-mining apps in this blog too. But not that we do not support or promote any of them.
Crypto mining apps for iPhone and iPad
On iPhone, you will not find many, if any crypto mining apps. This is because the apple store has had a policy against these types of apps for some time. Meaning that you can not just list any crypto mining app on their store. Besides the fact that mobile mining on iPhone will not really generate much of a profit. However, some of the mobile mining apps do get through and are listed on the app store. This does not mean they won’t have any risk and you should always be careful and do some extra research about these apps.
Bitcoin mining on mobile
Although you can technically speaking mine Bitcoin using a phone’s hardware. It will just not pay you enough to even out. Because your phone has only a small amount of computing power compared to the specialized Bitcoin mining machines out there. Besides that buying a phone for Bitcoin mining cost a lot on the hardware side. You will also have to pay for the electricity and can probably not use it when it’s mining. Making it so that your phone can not do anything else.
On top of the hardware problem. Using mobile miner apps like MinerGate will generate so little revenue. That it will take forever before you hit the minimum withdrawal amount. So you can just as well assume that will never really receive any crypto. Making it a complete waste of your phone and time. Because depending on your phone. The chance of the phone being destroyed because of overheating from the process is quite high.
If you are still interested in mining Bitcoin. You could probably best start to learn about mining using specialized mining equipment and renewable energy. This way you can still get into the game without destroying your phone. And yes, this will cost you some to enter and can be seen as an investment. So like always, this is not investment advice!
Altcoin mining using your phone
Like we said before. If you mine Altcoins on your phone. You are either receiving pre-minted coins. Or you mine a such a pace that your phone will not enjoy the process and it will take forever to pay you out. Still some projects let people “mine” (still not really mining) crypto which does not intend to scam you. One of the projects from 2017, called Electroneum ETN. Gave the users of their mobile wallet tokens for just having the app on their phone. The project does have some ideas and plans for the future and did not rug pull on anyone. This shows that some projects do have good intentions. And it can indeed help with the marketing of some projects to distribute tokens this way. Still, you should be careful as not all projects can be trusted and many of them give out completely useless tokens.
Mobile cloud mining
One of the mining methods that can attract newcomers is Cloud mining. Although cloud mining does not really run in the cloud or on any mobile phone. It is still a good way for beginners to start mining. What cloud mining basically does is rent out computer power to mine crypto and then give this crypto to the person renting. This can work for some of us. But it is important to be aware of scam companies. So always try to go with a trusted and reviewed cloud mining company.
Once you have found a trusted cloud mining company this does not mean that mining and holding cryptos does not have any risks. Always make sure you know the risks so you will not be surprised by any market swings etc.
The Pi network mobile mining
The Pi network is one of these social crypto projects that you sometimes see pop by. In our experience, it usually comes from a non-crypto friend as they do not really understand what it is, and believe they found the next Bitcoin. But this time they are first and it’s free. Although Pi network works with a form of multi-layer marketing. Meaning that early users can earn more tokens by referring their friends. We can not really say if this is a scam in the long run for now. Mostly because the company does not charge anything so far.
However, they could dump hard on the market if their token lists on crypto exchanges. We do have a lot of concerns about this project but can currently only express our concerns and not say if the project is legit or not
Pi network concerns
To start with its purpose. The idea is to be a fairly distributed monetary network that is cheap, decentralized, and can be used by everyone. These points seem to not make much sense to use as they basically describe Bitcoin. The only difference is that Bitcoin has to be bought. But users can enter the Bitcoin space anywhere anytime for any price. Early adopters have it better. But for the Pi network to give everyone a fair share of its tokens we would have to wait till the whole world has downloaded its app. Which can not be achieved as not even the whole world uses the internet.
Next is technology. So far no blockchain network has really managed to create payments infrastructure that lets users spend at almost no cost. Most that come close all still have some problems or other obstacles in their way. Except for the Bitcoin Lightning network. Here again, makes us wonder why and how the Pi network technology will function any better?
And last but not least, liquidity. Where can I sell or buy Pi tokens? How many Pi tokens will ever exist? Who controls or supports the Pi blockchain? We do not know either. And on websites like CoinmarketCap, we can not find much info about them either.
These are our concerns but not our advice. Our content is informational only. So please make up your own mind because only you hold the responsibility to your finances.
Fake crypto Mining apps
You can find fake crypto-mining apps all over the internet. Many do try to scam you and some others say they mine crypto for you. But are really just mining games and do not mine any crypto at all. To avoid falling for one of these fake apps. You should always research them thoroughly. In case you find a fake or scam crypto mining app, you should report them to the android or apple app store so they can delist the app from their platform. But best would even be to not try to mine crypto on your phone. But like we said many times, that decision is totally up to you.
A list of Mobile crypto miners
Here you find a small list of some “mobile crypto miners”. Please be aware that we did not test or check all of these apps and they could totally bear a risk. Or try to scam you. This is not a list of the “best or easiest mobile miners” but just simply a list of app claiming to be mobile miners.
- Crypto tab Browser
- MinerGate Mobile Miner
- DogeCoin Miner
- Boleh Miner
- Jivx Miner
- Bloom Miner
- Digmine
- Final Lines
- Pi Network
The Conclusion
We don’t really like mobile crypto mining. As easy crypto mining does not exist. Mostly because the profits are so small or non-existing at all when using a phone. On top of that, the risk of downloading a scam wallet or virus lurks around as well. This makes it just not worthwhile. We did however tried a lot of these mobile crypto miners. Especially when we were new to crypto. Because it seemed like a good free way to get into the crypto space. We soon stumbled on the problems we have mentioned in this blog and decided that mobile crypto mining is not worth your while.
FAQ:
Do you know a way to get free cryptocurrency?
Yes, there are ways to earn free cryptocurrencies. Although you will have to pay in some other form or way with your time or work. Playing Bitcoin Lightning games works as one good way to earn some free Bitcoin. You can read our blog about it here!
Should I try crypto mining with my phone?
No, phone mining almost always does not really pay you out anything and will only cost you your time and storage space on your phone. If you would like to start earning crypto through mining it. Then try to learn more in-depth about crypto mining and start with the right equipment.
Can I really mine Bitcoin with my phone?
Yes, in theory, you can. However, the revenue you generate will be so low that it is not really worth it. Mining Bitcoin works much better and is more energy-efficient with the right mining equipment. Plus a good renewable energy source.
Do you know any bitcoin mining site that I can mine and withdraw for free without any charges?
No, I’m sorry to tell you. But Free Bitcoin is not really a thing. Just like no one will give you free money. You either pay for it with other currencies, your time, or your work. If you see someone promising your completely free Bitcoin. That person or entity is probably trying to scam you. Protect yourself by learning about crypto scams.
Is Bitcoin mining currently profitable?
Yes, many companies and individuals from all around the world make a good profit from mining Bitcoin and other cryptocurrencies. To do so does require you to hold some knowledge about it and can generate a profit when done in the right way.
What’s the Bitcoin mining process? Does it make you earn free Bitcoins?
No, the Bitcoin mining process is called Proof Of Work (POW) and requires electricity to generate Bitcoin. Plus the necessary hardware. More of each will generate more Bitcoin. But this does not come for free.
How to mine cryptocurrency on your android phone?
Like we said in this blog. Cryptocurrency mining on your android phone does not really work very well. Making crypto this way will bring you nowhere. And you will be better of by trying other ways of crypto mining.
How to mine cryptocurrency on your iPhone?
Just as with Android phones. Cryptocurrency mining on your iPhone phone does not really work very well. And the type of phone you use whether iPhone or Android should not make a huge difference. Phones are just not powerful enough to make a difference for crypto mining.
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