A step-by-step guide to bitcoin mining for beginners

Bitcoin mining is the act of verifying the transactions that occur on each blockchain. It validates each transaction and then shares the transaction on a peer-to-peer network for everyone to see. Bitcoin miners are the people responsible for verifying and validating each transaction before it is added to a block to create the blockchain. After the miner places the next block in the blockchain, he/she can claim the reward, which is usually in the form of bitcoins. The more math calculations you solve, the bigger the reward.

You don’t need to be a professional software developer or programmer to get involved in Bitcoin mining. Below is an easy step-by-step guide for Bitcoin mining beginners.

Get Bitcoin Mining Equipment

Bitcoin mining equipment

The world of mining is becoming more and more complex as higher computing power is used in mining. The higher the mining level, the harder it is to make a profit because the investment in equipment is so high. Bitcoin mining is very competitive and you need to do your proper research before investing in equipment. It used to be possible to use your personal CPU to mine bitcoins, but due to the difficulty of mining, this method is no longer viable. You need to purchase a purpose-built computer whose primary purpose is to mine bitcoins.

Buy a bitcoin wallet

Bitcoin wallet

To store your digital currency, you must have a local wallet or an online wallet. The wallet comes with a public wallet address and a private key or password, which are the most important details to look out for. If your wallet is self-hosted, you’ll need a copy of the wallat.dat file so you don’t lose your investment. It acts as a backup wallet in case something unfortunate happens to your car. You can even get wallets for your mobile devices. A highly recommended wallet is a self-hosted or local wallet.

Find a pool to join

Mining pool

It is recommended to join a mining pool or choose solo mining. A mining pool is a group of miners who come together to share resources and rewards. The pool guarantees you a faster return when you pool your computing power to achieve greater results. Each pool has its own rules, reward method and mining fees. You should find the one that best suits your needs. Mining itself is difficult and you may never get a return on your investment.

Get mining software for your computer

Mining pool

There are different free mining software available depending on the hardware you are using. The mining software helps you monitor and control your hardware. Some common mining software are CGminer, BFGminer and EasyMiner. If you are in a pool, it is a good idea to check with them when connecting your pool to your program. Programs run on the command line and may require a batch file to run properly.


After all that, you are ready to go. Start the mining program and start by entering your pool username and password. You will notice that your machine slows down while the miner is running.

It is very important to keep a close eye on the temperature as the software heats up your hardware. Some programs like SpeedFan can monitor the temperature. You don’t want to risk literally blowing your investment before you’re even up and running. After a while, you should check how much you earn to see if your investment is worth it.