Bitcoin mining basics

There are a maximum number of Bitcoins that will be created. Twenty one million (21,000,000) to be exact.

Miners work as auditors
They Verify the previous crypto transactions and add these to the public ledger (or blockchain)

They help solve the double spending problem (similar to counterfeit paper currency). This is accomplished when they verify the transactions. This ensures that users have not illegitimately tried to spend the same Bitcoin twice

Miners are trying to solve for the nonce (a number used once). Once a miner has verified 1 MB worth of Bitcoin transactions, they are eligible to win the 12.5 BTC by guessing the nonce. This action also releases new coins

Here are a couple of videos on mining

What is Bitcoin Mining
Bitcoin Mining Explained

Earn Passive Income

Mining cryptocurrencies is one way of earning passive income. The easiest way with little effort, is Cloud mining.

There are cloud mining companies that will rent you their mining rigs (mining computers) to mine the coins and earn passive income. These will pay you on a regular basis once you’ve reached a predetermined amount as stated by the cloud mining company. Of course, it depends on how much computing power you are purchasing.
If you’re interested in cloud mining and want to learn more about it, click here to watch the short video on Genesis Mining.

To register and start earning passive income, go to www.genesis-mining.com