Mining Fees: An Overview & Fee Calculations
There’s always a cost to doing business. And that includes mining cryptocurrencies like Bitcoin — a cost often expressed as a trading fee, a transaction fee, or a “mining fee.”…
Bitcoin Mining Software: How to Choose the Right One
To mine Bitcoin, a number of things are required. Miners need: • Mining hardware: Application Specific Integrated Circuits (ASICs) or Graphic Processing Units (GPUs) • Bitcoin mining software • A…
Guide to Bitcoin Halving
“Bitcoin halving” refers to an event that happens every four years when the block rewards for Bitcoin miners get cut in half. This reduces the supply of new bitcoins by…
What Are Bitcoin Mining Pools?
Bitcoin mining pools provide a way for multiple parties to “pool” their efforts when mining Bitcoin. Over time, mining Bitcoin has become increasingly complex and resource-intensive. As such, pooling resources…
What is a hash rate?
Explanation The mining hash rate is a crucial security metric. The more hashing (computing) power in the network, the greater it is security and overall resistance to attack. Although Bitcoin’s…
How is Bitcoin Valued?
As a decentralized digital currency, Bitcoin is valued primarily on supply and demand on the exchanges where it’s bought and sold. But other variables come into play, driving up the…
How Many Bitcoins Are There?
As of June 2022, about 2 million bitcoins (BTC) are left to be mined, meaning that there are nearly 19 million currently in existence. Bitcoin has recently gained popularity as…
Do I Need a Hardware Wallet to Store Bitcoin?
What is a Crypto Hardware Wallet? Unlike software wallets, which are vulnerable to security holes and hackers, offline hardware wallets were developed so that you no longer have to trust…
Mobile Wallet: Definition, How It Works, Vs. Digital Wallets
What Is a Mobile Wallet? A mobile wallet is a digital wallet that stores payment card information on a mobile device. Mobile wallets are a convenient way for a user…
Private Key: What It Is, How It Works, Best Ways To Store
What Is a Private Key? A private key sometimes called a “Wallet Pass Phrase,” is a secret number or series of words used in cryptography, similar to a password. In…