You have probably heard of Bitcoin. Many people want to invest in Bitcoins and the first step they decide to take is to investigate how mining works to generate blocks. A quick glance at Google Play returns a lot of applications that promise to help us generate cryptocurrencies and then later transfer it to a wallet. If you are looking to mine Bitcoins on Android, we have to give you bad news: you are not going to get it and absolutely nothing happens because there are other apps that are useful for cryptocurrency enthusiasts.
Mining Bitcoins requires specific and expensive hardware
When you think about cryptocurrency mining it is impossible not to remember the gold rush that happened in the United States and everyone traveled west to find mines and chop until they found something. Years ago, when Bitcoin was not a thousandth of what it is now , it was possible to install software on the computer and start creating blocks with a lot of patience and energy.
It is normal to also think that from a mobile this could be possible: any smart phone has a lot of gross power and, having such powerful configurations, anyone can think that if they put it in their spare time or at night while charging, they would get money without having to do anything. The reality, however, is somewhat different. Yes, the mobile phone you have in your pocket or with which you are reading this article has a lot of power but it is not enough.
Bitcoins mining has become so complex and specialized that it would take many years to generate a block with a common device (such as a home computer, a Smartphone …), so the effort and dedication to be done is insufficient. In fact, those who are dedicated to mining to get blocks use very specific hardware optimized for this purpose.
Do not be fooled: mining Bitcoins on Android does not make any sense if you are looking for easy money.
Does this mean it is a waste of time mining Bitcoins on Android? Yes and no. If what we are looking for is to generate blocks and by extension make money with it, we are sorry to tell you that you are going to waste your time. All the mining apps on Android are full of empty promises and take advantage of people’s desire to become gold with this phenomenon.
If what we are looking for is to help the Bitcoin network to grow, then mining from Android is not a waste of time. Bitcoin as a decentralized network lives and grows with all those hundreds of thousands of people who are part of it. With that effort, value continues to be generated and by extension the value of this cryptocurrency increases. If we put it this way, you can use them knowing that you are going to contribute to a cause. So start trading suing the mobile app and make bitcoin profit.
What happens to the rest of the cryptocurrencies?
If you have read a bit on this topic, you probably already know that in addition to Bitcoin there are other cryptocurrencies. So far, we have talked about this because it is the currency with the highest valuation and the one that gives the most to talk about. There are others and from Android you can mine them too. It is a little easier but we encounter the same problem: it is still necessary to have very specific hardware dedicated to that specific task.
As a result of all this interest and given how complicated it is to generate Bitcoin blocks, more mobile-oriented projects have emerged, such as Storm. This application is based on the concept of performing micro tasks (in the style of Amazon’s Mechanical Turk or Task Rabbit) and being rewarded with a cryptocurrency. The company sells it as a gamification but the reality is to see ads and little else
There are many android applications which help in trading. These applications are easy to install and easy to use. Most of these applications are free of cost and for few you have to pay.