Mining on a Smartphone: Is it Worth Starting?

The development of technology has brought us smartphones, without which it is hard to imagine our lives today. It is also hard to imagine a world without digital assets such as cryptocurrencies. And when these two integral components of our reality come together, we end up with an innovative and convinient solution - mobile cryptocurrency mining.

Today, we'll break down the concept of crypto mining on phone and try to understand whether it's worth it. Let's get started!

What is Mobile Crypto Mining?

To answer this question, it is important to realize that there was no such thing as "crypto mining using phone" before. It was preceded by the well-known "cryptocurrency mining", which is the process of verifying and recording transactions in the blockchain. It is also used to create new blocks that keep the network running. Why is it so popular today? The reason is simple: miners are rewarded in the form of cryptocurrencies for maintaining the blockchain network. Thus, for example, at the time of writing, miners can receive a reward of 6.25 BTC and 0.3575 BTC in commissions per Bitcoin block (data was taken from here).

Mining requires computing power such as ASICs or powerful graphics cards. However, they and their maintenance are highly energy intensive and quite expensive in cost. Therefore, to make mining more accessible and much less pricey, the concept of "phone mining" appeared in the crypto sphere.

Mobile crypto-mining is the process of mining cryptocurrencies on mobile devices that have significantly less processing power compared to specialized equipment for traditional mining. This crypto mining process utilizes less computationally intensive mining algorithms such as proof of stake or proof of power.

How Does Mobile Crypto Mining Work?

In general, smartphone mining works the same way as crypto mining on computers. You can simply use it to mine cryptocurrency anytime you have a phone or tablet nearby.

In order for mining with Android phone or iPhone to function, special applications have been developed. Crypto mining phone app uses your smartphone hardware to generate a certain hash rate so that they can increase the likelihood of mining blocks. Despite the innovativeness of the solutions presented in these kinds of applications, opinions on the effectiveness of cell phone mining differ. Let's move on to the next part and consider the advantages and disadvantages of the explained digital assets mining method.

Advantages of Crypto Mining on Phone

• Accessibility and Mobility: A great advantage is that anyone with a phone or tablet can mine cryptocurrency at any time without being tied to a specific location or computer.

• No Big Investment: It is false to believe that there is one, the most expensive and best phone for mining crypto. You will only need any smartphone or tablet, software and a stable internet connection.

• Understandable Algorithm: The mining process is simplified to the max, and getting crypto you can mine on your phone can be done in a couple of clicks.

• Good Opportunity for Beginners: Those who just started to mine cryptocurrency on iPhone or Android are lucky. In this process, every miner can learn a lot if they are interested in exploring the blockchain and cryptocurrency space from the inside.

Disadvantages of Crypto Mining on Phone

• Limited Choice of Currencies: Bitcoin and other top coins developed on the basis of Proof of Work consensus are almost impossible to mine in this way. But options with Proof of Stake, cloud mining, and faucets are considered more profitable. If you are interested in learning more information about Proof of Stake consensus and the features it offers, you can check it out on our Cryptomus platform.

• Low Processing Power: Sadly, the power of our phones is not enough to compete with specialized mining computers and rigs. This non-competitiveness can severely impact the amount of potential income and waste your time.

• Device Wear and Tear: Mobile mining can quickly drain the battery of your devices and cause them to overheat. Therefore, there is no guarantee that even the best phone for mining crypto will be able to remain unharmed afterwards.

• Risks of Encountering Viruses or Scammers: In order to get crypto you can mine on your phone, there is a high probability of installing malware or getting involved with fraudulent projects.

• High Power Consumption: Mining usually utilizes all resources, so it is almost impossible to use a smartphone while mining coins. In addition, the smartphone may freeze.

Is it Worth Starting Mining Crypto on Your Phone?

As we can see, mobile crypto mining has enough advantages and disadvantages. Based on them, people are forming their own opinion on its subject. For example, there are those who categorically believe that phone crypto mining is not worth it due to the great competition in the market, the required time of involvement, which is an average of 8 hours a day, fraud risks and so on.

But there are also those who think completely differently. For them, smartphone mining on the contrary is a simple, affordable and effective solution to earn money. Most likely, their opinion is influenced by the prospects that cryptomining can achieve in the future, due to advances in hardware, the development of new cryptocurrencies and algorithms, and an increased focus on sustainability and environmentally friendly practices of the blockchain network.

It's up to you to determine which view to take. Most importantly, try not to make rash decisions and approach this case with detailed research and maximum immersion.