How to Earn Bitcoin Easily using Your Gaming PC in 2021/2022
The spontaneous rise of the value of Bitcoin still comes as a shocker to many in the business world. Currently, one Bitcoin is worth around 65,000 NZD. Bitcoin is one of the leading cryptocurrencies globally, and as time passes, leading business entrepreneurs like Elon Musk are investing in Bitcoin, making the currency appreciate at a faster rate.
Here is an interesting fact and the main subject of this article: With your gaming PC, you can earn bitcoin easily if you follow specific procedures. By using PC software such as NiceHash, your mining success rate will increase. In this write-up, amongst other things, we'll be discussing how to earn bitcoin with your gaming PC in 2021/2022.
What is Cryptocurrency?
We can't venture into talking about the intricacies of bitcoin mining without referencing the meaning of cryptocurrency. A cryptocurrency is a form of digital currency, that is, an intangible currency. Cryptocurrency is monitored and verified by cryptography, which acts as a decentralised system instead of centralised systems such as banks and other financial institutions.
By using cryptocurrency, you can perform certain transactions online, such as buying certain goods and services. Blockchain technology is based on cryptography and involves a unique way of recording information, thus making it difficult for cryptocurrencies to be hacked or hashed. As stated earlier, bitcoin is one of the top cryptocurrencies, and the weight it carries on the digital market affects all others.
Mining with Your Gaming PC
Everyone talks about how exciting the prospect of bitcoin’s rise is and how they look forward to investing in bitcoin to appreciate their investments. However, GPU mining hasn’t been paid much attention lately. GPU mining is key, especially to people mining Bitcoin at significant rates (think: massive mining farms).
What is GPU Mining?
GPU is a form of crypto mining, which involves using the Graphics Processing Units of a computer, especially a gaming one, to solve complex mathematical problems to verify transactions on a blockchain accurately. Usually, to effectively GPU mine cryptocurrency, these digital assets use proof-of-work mining (PoW).
Some cryptocurrencies you can mine using your gaming PC are Dogecoin (DOGE), Ethereum (ETH), Monero (XMR), Ethereum Classic (ETC), Ravencoin (RVN), ZCash (ZEC), Bytecoin (BCN), Vertcoin (VTC), Beam (BEAM), among others.
Using NiceHash Software on Your Gaming PC for Mining
In the early years of bitcoin's arrival, mining was an arduous task. Without knowledge and experience using Linux, you couldn’t mine successfully. Also, running a client was a challenging task, which discouraged people who were new to the crypto world. Recently, more accessible options became available for you to make profits out of your gaming PC.
Using the software, NiceHash, you can mine from home on your Windows PC without needing a complex process of setting up configurations or command lines. Instead, with only your typical installation wizard, you can set up to begin mining in ten minutes. NiceHash offers several options for mining software depending on what device you have and your skill level.
NiceHash has one of the biggest hashpower marketplaces in the cryptocurrency mining world. It links up sellers/miners of hashpower with prospective buyers. Essentially, hash power is a computerised process that describes the level of power your computer uses to run and solve various cryptocurrencies. That is for PoW hashing algorithms.
Another feature of the NiceHash software is that it automatically creates a bitcoin wallet address for you. At the same time, it lets you mine when your gaming PC is not in use. So, you can have a constant mining rate even when you are not using your system. The NiceHash software has made mining easier, and if you are not using software like it, mining will be a much more complicated process on your PC.
Essential Things to Note About NiceHash
The cryptocurrency world is very volatile. Within a few seconds, you can lose the profits you have accumulated for years. There are vital things you need to know about the NiceHash software before delving into it.
- NiceHash is not directly involved with the process of mining Bitcoin:
First and foremost, NiceHash doesn't mine Bitcoin or Litecoin directly. Instead, you are dealing in your computer’s hashing rate and selling it to miners who mine these coins, thereby adding to the chain of transactions.
What is the benefit of selling your PC’s hashing power?
NiceHash pays you directly at a regular interval. After getting your payments (in BTC), you can transfer your coins to your storage wallet or sell them to companies like BitPrime for fiat or use our crypto-crypto swap function if you'd rather have altcoins.
- Your hashrate is always connected to the most popular crypto (BTC):
One crucial thing you need to know while using NiceHash is your hashrate is always connected to the most profitable crypto coin at that moment, bitcoin. Before you start using the NiceHash program, it'll gauge your GPU hashrate for different algorithms that work with the selected coins. At various intervals, the NiceHash software changes to the ideal crypto to mine at a particular time (to learn more about this, check out WhatToMine.com and NiceHash support). The advantage of this mechanism is that you maximise profit without doing endless research on which crypto coin to deal in.
- NiceHash is not the best means for dedicated miners.
If you are really into cryptocurrencies or familiar with how mining and converting hashrates etc. works, NiceHash probably isn't for you. It's meant for more beginner-immediate level miners looking for easy options (although you can connect ASIC machines to their stratum servers and more, that's beyond the scope of this article). More intermediate level users can discover higher hashrates to produce higher profits after overclocking, installing alternate drivers, flashing their Graphics Processing Unit's BIOS or even with command-line clients.
Are Gaming Laptops Suitable for NiceHash?
To answer whether gaming laptops are suitable for using NiceHash here is something worth noting. You can use NiceHash with your gaming laptop; however, while using NiceHash, don't use both your GPU and CPU simultaneously. This is to avoid overheating and throttling problems. Also, note that most gaming laptops do not have full GPUs, so be sure to check before using one.
You can earn bitcoin easily with your gaming PC. And, by using software programs like NiceHash, your earnings are as assured as they can be. Just don't expect to get rich overnight, as this is more of a hobby-level solution to mining. Almost all the big money to be earned mining crypto goes to the professional/enterprise-level mining operations, such as that shown in the image of a mining farm earlier in this piece.
Over to you!
Do you do any mining yourself? Feel free to share any tips you have for anyone looking to get started in the comments below.
About the author:
Charlie Svensson is a fast, engaging freelance essay writer. His favourite topics are education, social media, marketing, SEO, motivation, blogging, and self-growth.
The above references an opinion and is for informational purposes only. Do not take this as personalised financial advice or investment advice. The views expressed by the author do not
necessarily represent the opinion of BitPrime.
Last updated: 24/09/2021