Tuesday, December 24, 2013

How To Mine Bitcoin? - CEX.IO

A very warm hello to everybody. I'd like to wish you a Merry Christmas, and a new year full of happiness and opportunities.

Today I'd like to give information on a very efficient concept for Bitcoin mining. It's called "cloud mining", and it's really a revolutionary way to earn money from Bitcoin mining. As you might remember from my earlier post, Cryptocoin Mining, it is required to have hardware that is capable of powerful computing, like FPGAs and ASICs. These kind of hardware are on the market now, and you can even buy a USB block erupter that runs at 336 MH/s at 80 $ or so.

What CEX.IO offers is that you do not have to buy a hardware directly and you can mine your Bitcoins by buying GH/s, namely the mining hashrate. They have very professional mining equipment already installed. The only thing to do is to buy units (or fractions) of GH/s and start making profit. The registration is completely free and you can register here right now: CEX.IO Registration

After registration, you fund your account by sending Bitcoins or other types of altcoins to the wallet addresses found under the "Balance" tab. The miners not only mine Bitcoins in the process, but also they mine some altcoins like Namecoin, Ixcoin and Devcoin.

After funding your account, you can create a buy order for any amount of GH/s you like. You can even buy a 0.000001 unit of GH/s, which is essentially equivalent to 1kH/s. The greatest advantage of the system is that, you cannot buy a fraction of the actual mining hardware on the market, but you can even buy a modest amount of it with little funding and start mining directly here.

Another advantage is that you can buy and sell GH/s units whenever you want. There is a market of GHS/BTC on the website that runs continuously. You can sell your GH/s units when they are expensive, and if the Bitcoin price has also risen at the time, your earnings will increase a lot.

You can always withdraw your Bitcoins or other altcoins under the "Balance" tab by entering your wallet number after clicking "Withdrawal" button. You can also examine your earnings for Bitcoins and altcoins, deposits and withdrawals on the same page under "Transactions".
And here's a good tip for you: Why not to use the free Bitcoins you earned from the Bitcoin faucets and ad viewing websites that I have mentioned in my earlier posts, How to Earn Bitcoin? - Faucets and How to Earn Bitcoin? - Other Faucets and Ad Viewing, for buying Bitcoin miners on CEX.IO? By this way, you'll make money from free money. Think about it.

I hope I have helped you introducing this efficient method of Bitcoin mining today. See you soon.

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