Cryptocurrency, as we know it, has been a rage since Bitcoin’s value began soaring in 2017 and people started flocking to the world of mining because everyone wanted to hop onto the mining train and get their piece of the pie.
Although the value started decreasing in early 2018, eventually plummeting over the year, cryptocurrency enthusiasts are still hopeful about its future.
If you’re looking to hop onto the crypto-mining bandwagon, this article might help you. It will inform you about mining cryptocurrency on an android phone and what are its requirements and also about how to protect cryptocurrency on your device.
How to mine cryptocurrency on Android
Mining refers to the act of performing calculations that add a new block of information to the blockchain network, which results in the miner being rewarded with a certain amount of cryptocurrency.
People have realised that mining can be profitable only with high-end computers that are powered by high-end GPU’s as these can perform calculations and earn enough to cover backend and overhead costs in most conditions.
The idea mentioned above that people have prevents them from thinking about mobile devices in their pockets that can also partake in the world of mining.
Below we have listed two apps that can be used for mining cryptocurrency.
Note: As of July 2018, Google has decided to not allow any mining apps on the Google Play Store hence these links will lead you to other sites.
MinerGate Mobile Miner
MinerGate Mobile Miner is the mobile version of the popular cryptocurrency mining client for PCs and it is extraordinarily user-friendly.
This app can mine a wide variety of cryptocurrency ranging from Bitcoin, Monero, Bytecoin, and more.
It mines applications using the pool method and allows the user to control as to how their device’s resources are used to mine currency.
This application is simplistic and gets right down to crunching on calculations without any of the graphical aesthetics that MinerGate offers.
AA Miner uses a proprietary code called ‘Cryptonight’ for mining and says that it is the most profitable way to mine.
This application also offers you the choice of choosing how your threads are used, and it also gives you an additional option of choosing when mining should take place, that is, in the background at all times or only when the phone is charging.
Protecting your cryptocurrency
With mining coming to our mobile devices that are relatively vulnerable to attacks on public networks or the ease with which different people can access them, protecting all of your investments is the most important thing to do.
These are some of the steps that you should take to protect your Cryptocurrency investments –
- You should always keep your information secure to prevent being targeted by hackers.
- All your cryptocurrency accounts/emails should be protected with strong passwords. A password managing app like LastPass can be used for this as it is known worldwide for its authenticity and reliability. You can find LastPass here.
- Two-factor authentication should be added to all your accounts. You can use the Authy app for this which can be found here.
- Spread your cryptocurrency over a wide variety of wallets to prevent a massive loss when an accident may occur.
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