What is cryptocurrency mining & how does it work?

Cryptocurrency mining has become a popular way for individuals to make money online by confirming transactions on blockchain networks. In exchange for completing complex mathematical challenges, miners are rewarded with newly minted currency.

What is crypto mining?

In short, crypto mining is how new units of cryptocurrency ---usually called coins---are created. As you can imagine, this type of mining doesn't involve callused hands gripping pickaxe handles. Instead, it's computer processors that do all the hard work, chipping away at complex math problems.

How do I mine cryptocurrency?

There are several ways you can mine crypto. Solo mining, pool mining, and cloud mining are three distinct approaches to cryptocurrency mining, each with its pros and cons: Here, individuals mine by themselves, using their own mining rigs or possibly a powerful enough personal computer.