Bitcoin is the most sought-after cryptocurrency because of its store of value, high market capitalization, and large trading volume. It explains why many people strive to acquire this cryptocurrency by all means and ask, “How do I mine Bitcoins on my PC?”
Bitcoin enthusiasts can obtain BTC in three ways – through a crypto exchange, accepting it as a means of payment, and mining. Mining BTC involves solving complex mathematical puzzles and verifying ledger transactions on the network for a reward. BTC mining is also known as hash verification. This process is so complex that miners need to set up a network of powerful computers to verify these transactions.
However, you don’t have to set up a node of powerful computers or pay for software to mine Bitcoin. You can mine BTC for free through some apps and websites. However, many people question the veracity of mining BTC for free. The good news is mining free BTC is real, and we will discuss how you can in this post.
How Many Bitcoins Are Left to Mine?
Bitcoin is limited in supply. That’s why it’s more valuable than other cryptocurrencies. As of 2023, the number of BTC in circulation is 18.8 million out of 21 million. It means we have about 2.2 million BTC left to be mined.
Now how long will it take to mine all Bitcoins? According to the Bitcoin network, the remaining BTC will be mined by 2140; that’s over a century from now. The rate of creating new BTC is halved every four years to control Bitcoin prices and make it as scarce as ever. This process is called Bitcoin halving.
How to Mine Bitcoins in 2023 for Free
Before now, mining free BTC was scarce, and not every software was legitimate. However, 2023 has presented us with a plethora of reputable options. To mine Bitcoin for free, you must have three essential things – a smartphone/PC, a Bitcoin wallet, and free mining software installed on your device.
A Bitcoin wallet will send, receive, and store BTC securely. Having a Bitcoin wallet is simple. All you need is to create an account with wallets, such as Coinbase, Trust Wallets, Ledger Nano X, or Exodus, using your email ID. These are some of the best Bitcoin wallets. After installing and setting up the mining software, join a mining pool and add your BTC wallet.
Mining without a pool will result in low Bitcoin rewards. This is why joining a mining pool makes sense, as it will increase the hashing power for more Bitcoin rewards. This is only applicable if you’re mining on PC only. Popular mining pools are Slush Pool and Antpool.
Once you have your smartphone/PC, software, and BTC wallet, you can start mining.
Free Bitcoin Mining Software
The main BTC mining process is performed by mining hardware, but the software is also essential, as it connects the hardware to the blockchain and mining pool. The mining software communicates with the network and helps solve complex calculations required to generate new Bitcoins. It displays the statistics of the hash rate, temperature, etc.
Many free BTC mining software can run on various operating systems, from Windows and Linus to OSX, and can even be ported to work on computers like Raspberry Pi. Generally, Bitcoin mining software is divided into four – Gui, command-line, mobile, and cloud mining software.
The GUI-based mining software uses an easy-to-use graphical interface to mine. Command-line software is more complicated than Gui-based mining software, making it suitable for experienced miners. Mobile-mining software is installed on mobile phones to mine Bitcoins. Finally, cloud mining software is an online-based software that enables users to mine BTC remotely. Users must pay a certain fee to the cloud service provider to access the mining services.
Following extensive research, these are some of the best free Bitcoin mining software.
RollerCoin
RollerCoin is a mobile-based mining software that allows you to get free BTC after participating in some arcade games, completing surveys, and watching ads. As you do various tasks on the website, you mine Satoshis, which are deposited into the Bitcoin wallet linked to your RollerCoin account. To get free BTC, all you need is to sign up on the website.
Apart from Bitcoin, you can earn other digital currencies, such as Ethereum and Dogecoin. One of the unique features of this mining software is the low threshold fee of $3. Once you hit the threshold, you can withdraw directly to your wallet.
EasyMiner
This is a Gui-based mining software that works on Windows, Linux, and Android systems. EasyMiner is user-friendly and transparent in usage. It generates performance graphs to allow convenient visualization of your Bitcoin mining.
CGMiner
This is a popular mining software with highly customizable features and a multi-threaded GPU. This free BTC miner is compatible with many platforms, such as Windows, Linux, and OS. It is simple, convenient to use, and ensures stable performance when mining. Users can adjust the mining settings to get the best hash rates.
BFGMiner
BFGMiner is another prominent way to mine Bitcoins. It has dynamic clocking and a remote interface for easy monitoring and providing performance statistics. Like the CGMiner, it uses a multi-threaded GPU. It is versatile and works with several ASIC models.
Crypto Tab
The crypto tab is slightly different from the rest, as it is a web browser. However, you can still get free Bitcoins. You can access this browser from the website or through an application.
Conclusion
It is possible to mine Bitcoins for free, as explained above. You can start mining with your smartphone/PC, a software miner, and a Bitcoin wallet. For beginners, RollerCoin is the best method for mining free BTC. It requires no computational knowledge, making it convenient to use.
While it is possible to mine free BTC on a PC, you can’t get a large amount of Bitcoin using these free miners. Even with the ASICs, the profitability is still somewhat low. Another issue is mining Bitcoin is energy-intensive and time-consuming. This is true with mining software.
If you spend your time and resources on mining, ensure you understand the risks and potential rewards. Also, if you’re interested in having a side hustle, it could be a solid option. You could get some extra cash from this free BTC mining software.