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.

What is a cryptocurrency & how does it work?

: 18 A cryptocurrency, crypto-currency, or crypto [a] is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it.

Why do miners use a computer to mine cryptocurrencies?

For Bitcoin BTC 0.0%, miners use ASIC computers which are powerful, tailor-made machines for mining. For other cryptocurrencies like Ethereum ETH 0.0%, miners can get away with powerful gaming computers. Fluctuating energy prices cut or increase profit margins for crypto miners. Usually, the hardware runs on fossil fuels.

Is cryptocurrency mining worth it?

Cryptocurrency mining is painstaking, costly, and only sporadically rewarding. Nonetheless, mining has a magnetic appeal for many investors who are interested in cryptocurrency because of the fact that miners receive rewards for their work with crypto tokens.