Best GPU For Mining Bitcoin For Online BTC Miners
First of all, crypto mining is simply the process of having transactions verified on a crypto network. To ensure that the crypto network is capable of supporting the transfer of billions of dollars worth of coins, the computers used must try to guess some of the strings which are referred to as a hash. For this we need to get ourselves the best gpu for mining bitcoin that we can.
Cryptocurrency mining has to be one of the most talked-about things in the financial industry. Most people have found it as one of the best ways to make money from the comfort of their homes. Before we dive into some of the best graphics processing unit cards you can use to mine Bitcoin, it is important that we get an idea of what mining is and how it works.
How Does Mining Bitcoin Work
On the Bitcoin network, for example, mining takes place when miners try to guess strings and add blocks to the network’s Blockchain. The blocks here are the transaction information. When one miner on the network discovers a block, the other miners will have to stop what they are doing to verify the block before it is added to the Blockchain. To verify these blocks, there are a set of codes that contain rules that will guide the network. For a block to be verified and added to the Blockchain, it must meet the requirements stipulated in those sets of codes.
Once these blocks are being verified and found to be in accordance with the rules of the network, they are added to the Blockchain and the miner who discovers it will receive a reward as well as the transaction fee that is to be paid by the user. Generally, a miner on the Bitcoin network will receive a block reward of 12.5 BTC. The total reward miners are to receive for adding blocks on the Bitcoin network will change in the months to come as there will be a Bitcoin block halving later this year.
In addition to receiving the block reward, a miner that adds a new block to the Blockchain will also receive the transaction fees paid by the sender. This is one of the ways miners earn money from Bitcoin. Also, it is the only way BTC coins are released to the market.
Top 3 GPU For Mining Bitcoin
Since the inception of Bitcoin about a decade ago, a number of mining rigs have been designed to enable miners mine and earn rewards. Initially, CPUs were used to mine BTC but after a couple of months, it was discovered that GPUs make a fine mining tool. While there is a wide range of advanced and powerful ASIC miners in circulation today, we’ll look at the 3 best GPU for mining Bitcoin. They include;
The Nvidia GeForce 1070
While this is an impressive video card for gamers, it also happens to be an amazing card for cryptocurrency mining as well. This GPU comes with a middle range hash rate of 300MH/ s. In addition to having a middle ranged hash rate, it tends to consume less power with its 150Watts per unit. It is currently one of the least expensive GPU cards to mine with and this is because it uses little electricity.
One of the many problems most miners who make use of advanced and well-designed mining rigs have is that of spending more money on electricity. This has a way of eating deep into their profit. This is not the same with this GPU miner. You only have to make use of less electricity.
While this GPU mining rig is less expensive to run, it is quite expensive to get. Being in high demand, its price has escalated in the last couple of years. Depending on where you buy from, you can get this mining rig for as much as $600 to over $1,000.
The interesting thing is that you can get this miner second-hand from someone who’s tired of owning it. It is arguably the best GPU miner out there. If you want to be a btc miner online than grab one of these and have fun mining.
The AMD Radeon RX580
Otherwise referred to as the “budget-friendly” GPU mining rig, the AMD Radeon is one of the biggest names in the GPU mining sphere. With a hash rate of just 29MH/s, this GPU mining rig is currently selling for $350. Another interesting advantage of this mining rig aside from being cheap is that it runs at a low temperature. It also makes use of less electricity, meaning that miners do not have to spend their profits paying for electricity bills.
One of the main disadvantages of this GPU mining rig is that it is not always available. Its low price makes it the first choice for those kick-starting their mining careers. It is currently hard to see this miner in the market today. To get this miner, you make have to look at stores that sell used products but bear in mind that because of the demand, you may be required to pay higher than the amount mentioned here.
The GeForce 1060
This is the little sister to the GeForce 1070. Like the Radeon GPU mining rig mentioned above, the GeForce 1060 happens to be cheap. It is currently selling for $300. While this is not the most advanced mining rig you can get your hands on, it is perfect for those seeking to make passive income from crypto mining.
Designed by one of the leading GPU manufacturers in the world, you can trust this mining rig to deliver. Like the Radeon miner mentioned above, the price of this rig has made it quite difficult to get your hands on. As stated earlier, you could look for this GPU card at stores that sell used products.
This mining rig is ideal for those that live in areas where electricity is expensive. This is because it does not consume much power. You do not have to spend your profits on paying for electricity monthly. It is a moderate mining rig that you can start out with.
We have discussed some of the best GPU mining rigs anyone can get their hands on for those inspiring to become a btc miner online. Good luck to all aspiring miners, may the force of crypto be with you in your venture.
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