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Bitcoin Mining Tutorial For Noobs

Singapore–For a long time, mining has been known as one of the best ways to obtain Bitcoin. Traditionally setups for Bitcoin mining were complex; requiring the purchase of miners, deploying them and configuring them before gaining any reward. The cumbersome process was affected by multiple factors: site selection, farm construction, temperature, noise, electricity price, operation and maintenance management, etc. As mining became professional and competitive, the requirements for participants also became more demanding.

In an environment where supply of mining hardware is low and their price continues to rise, the cost of traditional mining is relatively high and not all investors can afford to do it. Therefore integrated and optimized cloud hashrate, a new mining method tailored to ordinary users, has gradually become the first choice for retail investors.

Why are retail investors more suited to mining with cloud hashrate? Buying cloud mining products is a convenient way to obtain Bitcoin with the least initial investment and the least amount of effort.

Here we take Bitdeer as an example, to see how noobs can participate in mining easily and quickly.

get your bitcoin

Preparation:

Head to  www.Bitdeer.com and register an account.

Basic concept:

The Cloud Hashrate Plan Fees on Bitdeer plan consist of Hashrate Fee and Electricity fee. Hashrate Fee refers to the cost of renting different mining machines (miners) for various  periods, which must be paid in a lump sum. Electricity fee refers to the power consumption of the miners, and you must pay for Electricity Usage at minimum usually 10 days.

If we compare this to renting a car, the Hashrate Fee would be equivalent to the rental fee and must be paid in a lump sum; the electricity fee is the cost of the fuel, which can be paid as you go. However if your paid electricity runs out the Hashrate Fee cannot be refunded, so you need to pay attention to your remaining electricity.

How to place an order on Bitdeer? Here is an example of purchasing using BTC:

  1. Under the Price page of Bitdeer ClOUD HASHRATE, select your plan, and then click 【Buy Now】.
Step 1
  1. Select the Currency on the Order page, then click 【Buy Now】
Step 2
  1. On the Confirm Order page :

Step 1): Select a 【Mining Pool】;

Step 2): Enter a valid wallet address as the 【Receiving wallet】.

Step 3) : Under the electricity fee payment, select days for the first payment you want to make;

Step 4): Confirm the 【Subsequent Payment Method】.

Confirm order

Before accepting the purchase agreement, please check your order details for any mistakes that may influence your mining plan. After the order amount is confirmed, click 【Submit Order】.

submit order

4.     Choose your payment method (the order must be paid in full within 6 hours, otherwise, the order will be cancelled automatically).

Choose a payment method
  1. Send the required payment amount to the payment address shown on the page. After payment, please click Paid.

Note:

  1. If you pay in the wrong currency it will result in the loss of funds and cannot be retrieved.
  2. Ensure you have paid the appropriate transaction fee when transferring funds. Orders that are not fully paid will be canceled unless they are able to pay the remaining balance.
After confirming payment
  • After the transfer, you must wait for the on-chain confirmation (about 1-2 hours). Please ensure that the full payment is received within 10 days for the remittance method of US dollar transfer. After receiving the full amount, your order on Bitdeer is successfully purchased, and the plan will come into effect and work (the pre-sale order needs to wait until the pre-sale period takes effect). The only thing you need to do is waiting for the rewards to arrive.
Continue payment

We all know the cryptocurrency market is volatile and that is seen as a risk by some investors.  With low costs, fast payouts, flexibility and convenience, cloud hashrate is an ideal investment choice.

Compared to traditional mining, users no longer require an in-depth understanding of mining principles and the various software and hardware requirements. Nor do they have to source and purchase miners or have dedicated personnel to maintain their farm. To participate in mining and receive newly minted Bitcoins, they only need to buy plans through the Bitdeer platform. This lightweight method is more robust and safer than buying coins outright. Once the plan has expired, you are not left with miners or their venues. This provides greater flexibility to exit and avert potential risks.

Bitdeer, with their reliable platform and strong reputation within the industry, is providing a simple alternative for Bitcoin mining noobs. Backed by real hashrate, advanced hardware performance, solid anti-risk ability and transparent income, this is a great opportunity to secure a steady and generous Bitcoin income.

Media Contact:

Contact Person: Esme Law

Ph. No.: 0065 6566413123

E-mail: contact@bitdeer.com

Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Bulletin Track journalist was involved in the writing and production of this article.