Bitcoin is a virtual currency. It is also the first decentralized currency means it does not have a central repository or single owner. Bitcoins can be purchased, like other currencies or can be mined using a computer.Let us see whether mining bitcoins using smartphones is worth the time and money expenditure needed? How many bitcoins you can earn per month? Lets try to find an answer.
The term mining requires you to learn more terminologies like blocks, proof of work etc. But in essential bitcoin mining requires high-end CPU and GPU resources. It was possible in the early days to mine bitcoins using a normal Gaming PC or a video processor card, but the scenario today id different. People mine bitcoins using Bitcoin ASIC chips that offers 1000 times better performance compared to older systems. If you uses anything less that this, will end up wasting time and electricity rather than earning money.
Can I use Android for bitcoin mining?
Of course you can use your smartphone for bitcoin mining. But the real question is should you use. The answer would be NO. As we have already said, bitcoin miners uses specifically designed resource-intensive units for mining because the mining is a heavy process. Mining bitcoins on smartphone can be inefficient due to the following reasons:
- Smartphones generally has a weak CPU
- Weak GPU
- Few cores for streaming are available in a smartphone GPU
- Processor overheating and throttling in smartphones can happen very quickly under heavy load.
Despite the above facts, there are smartphone apps available which allows automated mining of bitcoins. Some of them are Bitcoin Minor Robot, Easy Miner, LTC Miner, droid miner etc. These apps are technically able to calculate algorithms and earn bitcoins. But in terms of practicality, are these apps worth your time and money you spend for electricity and data?
Let us consider one of the popular bitcoin mining app called Bitcoin Minor Robot
You can freely install this app from play store. The app uses unit Satoshi – the smallest unit of bitcoins for convince.
For you information:
1 Satoshi = 0.00000001 ฿
1,000 Satoshi = 0.00001000 ฿
10,000 Satoshi = 0.00010000 ฿
100,000 Satoshi = 0.00100000 ฿
1,000,000 Satoshi = 0.01000000 ฿
Hope you have got an idea about how small is the value of Satoshi. According to the app advertisements you will be able to earn 500 Satoshi every 10 minutes on a smartphone with today’s top hardware.
Bitcoin Minor Robot in practice
On a Google Pixel with Snapdragon 821 chipset and Adreno 530 GPU with an android mining app, it will take 1 month to reach 250k Satoshi which is the minimum withdrawal amount. With the current rate of $7000 of bitcoin 250k sh would come roughly around $15. This is what you will earn per month running full time mining on your smartphone.
If you use this phone as your primary smartphone, forget about running the miner in it. The app will use plenty of resources and will greatly affect the phones performance in a negative way. Chances that your phone will overheat is very likely. Also, you may need to connect your phone to the charger always, as battery will not last for more than an hour if you run this continuously.
In addition to the above disadvantages of bitcoin mining on android phone, it is very unlikely that your phone will survive the heavy load given to you for a long period. Overheating can cause battery life to reduce sharply.
In essence, earning 15 USD a month running full time mining on your shiny new smartphone is not feasible at all. The amount you earn wont even cover the data plan and the cost of electricity. This again refines to the point that the ASIC units for bitcoin mining is the standard.
It is interesting to note that it will take months to earn 1 bitcoin using a ASIC minor hardware. The electricity you need to run a minor like that will be significant so you wont be having the full amount you have earned. In fact you need hundreds of such ASIC minors to get some serious amount of money. Here, the idea of using a smartphone to earn bitcoins is out of question.