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Bitcoins / Breaking News / Mining

Why You Should Stop Mining Bitcoin On Your iPhone

Despite it seeming like an excellent money making opportunity; all of the work actually gets you very little in return – approximately $156 every year; however, this does not take into consideration the amount of electricity you would use, which is a lot! 

If you have invested in some Bitcoins or other cryptocurrencies, and have considered venturing into the realm of mining, it is important that you read the following before doing so.  

It might seem like an easy task, with the help from the use of mining apps; however these should be avoided, as they are usually scams, or developer exercises that have been designed to be so difficult to install and manage, that you could actually end up just wasting your time. Let’s look at MobileMiner, for example. This app requires prepackaged sources, which you need to download from GitHub, and then installed with the help of Xcode, and the iOS App Signer. Once you have done all of this, you will then need a wallet config requirement from your cryptocurrency of choice. Only after you have done all of this can you actually start mining.  

Then comes the simple act of keeping the app running in the background. This will make your phone hot, and kill your batter in just a few hours.  

You are probably wondering how much all of this will make you. It’s a staggering $13 a month. And this is on the assumption that you will be mining at night as well. It is an awful lot of work for very little in return, and that is not to mention a lot of added costs on top of this. Whether you still choose to mine or not is up to you; however, if you do, it might be better to take it to the next level and purchase equipment designed for this task at hand. iPhones are certainly not made for digging up cryptocurrencies.

Image Source: Flickr

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Frances is a writer for Crypto Daily, and she is responsible for bringing you the latest news on everything that is related to the Crypto world. She has a keen interest in Cryptocurrencies, and has many years of experience writing in all different roles. She is incredibly passionate about writing, and this combined with her interest into the finance, and virtual currency sector means that you are kept up to date with all of the latest news and information regarding all cryptocurrencies.


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