Bitcoin Mining Explained

There are many myths and misconceptions surrounding Bitcoins, and I’m sure you’ve repeatedly come across many of those. Actually, it’s a very debatable topic: politicians, various economic schools and even programmers have been arguing over Bitcoins ever since the phenomenon entered the world of e-Currency. You might guess that there are Bitcoin advocates and naysayers. Some say it’s a kind of gold, while others say it’s worth zero.

Bitcoin Mining

As for me, I have my own opinion about it, and it is fairly positive. As I see it, this currency peacefully co-exists with the traditional payment methods simultaneously opening doors for establishing new income sources. Even if you have no idea about how Bitcoins are being made and exchanged, you can start earning from those today, by registering with CEX.io – the first platform where you can trade Bitcoin mining facilities, namely Gigahashes (GHS).

Bitcoin Mining In a Nutshell

To put it simply, mining is the process of solving math problems. It results in issuing the digital currency also known as cryptocurrency (because the process involves cryptography to control the issuance and transfer of money) named Bitcoin. The speed of this process is measured in hashes/second. Gigahash equals 1,000,000,000 hashes per second.

The process has come a long way: we’ve witnessed a switch from CPUs (central processing units) to GPUs (graphics processing units), and eventually to ASIC – Application-Specific Integrated Circuit chips. This hardware has proven successful for BTC mining, as it used less power and thus made the process faster and more cost-efficient. This is where CEX.io comes into play.

Welcome to CEX.io

The good news is that today you don’t necessarily have to purchase expensive hardware requiring ongoing maintenance to mine for Bitcoins – there are platforms that can do the dirty work for you :). Take CEX.io for instance. They give you a brilliant opportunity to get GHS that will provide you with a constant mining speed rate. You will get it without having to set up and install any hardware from your side. All you need is available within their powerful infrastructure which is based on the btse ASIC miners on the market.

Cex Logo

So now when you know how to get GHS in a fast and hassle-free manner, let’s see how you can earn from them via CEX.io.

How to Trade GHS

All you need to start your brilliant Bitcoin mining career is to create an account with CEX.io and to fund it to be able to make your first GHS purchase. The key advantage of exchange platforms like this is that the process of mining will start right away. Cloud-based GHS liberate you from the following inconveniences:

  • waiting for the delivery;
  • downtimes and other connectivity problems;
  • expensive upkeep;
  • annoying noise etc.

This is to say that all the process will take place in the cloud with minimum user intervention. By the way, mining can be done simultaneously with trading, isn’t it great? Join the platform today to get your feet wet in GHS trading and Bitcoin mining.

Robert Simons loves technology in all its shapes and forms. He’s the owner of http://yourtechlib.com/, a website dedicated to tech news, web design and everything in between.

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