Bitcoin: A Simple Guide for Beginners: What You Need to Know About Bitcoin by Florino Alfeche

Author:Florino Alfeche
Language: eng
Format: mobi, azw3
Published: 2017-07-29T04:00:00+00:00

Step 4- Setting up a Mining Account

Find a mining pool that you find easy to use. For this example, we will use BitMinter. BitMinter is by far the easiest to use and it also comes with its own software. To set up your mining account, go to bitminter.com/login. Next, choose the account you want to link with BitMinter and use the login details of your account. Like many accounts today, there is an existing service called an OpenID which conveniently allows you to log into an already-existing account to reduce the need to remember a new password. Think of how you can log into your Pinterest or Instagram account using your Facebook account.

Set your email address as well as your auto cast out threshold to a sensible amount. A good figure would be 1 BTC (approximately USD10). Whenever you mine 1 BTC, you will receive it into your Bitcoin wallet. Determine your “pay to address’’. This is the address that all your Bitcoins will be sent.

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