Best Bitcoin Wallet Mining Guide on Linux

It’s Lance back with another edition of the best bitcoin wallet mining guide. This time, we’re discussing what the best bitcoin wallet is to be mining with. Linux miners and developers definitely want a flexible, yet functional bitcoin wallet designed for both transactions and development. Meanwhile, regular Linux users running Debian-based systems like Ubuntu will love a simple, easy to use configuration for their btc wallet. It’s all a matter of preference and needs for you.

Most commonly, Windows users find it easy to get started with new applications. This is because most applications are tuned for commercial use, and most operating systems use Windows. But this story completely changes with Bitcoin. Not only is Bitcoin innovative and mainstream, Linux is also a key component of the network! In fact, most Bitcoin users operate on Linux. For bitcoin mining, it’s completely necessary to use a Linux operating system to get the maximum efficiency from the graphics cards.

Picking the right Graphics Card Unit (GPU) for Bitcoin Mining

Actually, you shouldn’t be using any GPU for Bitcoin mining unless electricity is free! For Bitcoin mining, graphics cards are slow and inefficient. If you’re still mining with graphics cards, it’s time to read up on ASIC models. Ever since the inception of the Bitcoin wallet, mining has transitioned from CPU-based systems to GPU-based systems and finally to its current ASIC state. ASIC stands for Application-specific integrated circuit, which is basically a fancy machine designed for mining BTC. Amazon is a distributor of these machines, and they can be profitable to mine with depending on your electricity costs. If your electricity costs are negligible, then it’s basically pure profit for you to mine Bitcoin!

This is the AntMiner S7 BTC Miner.

This is the AntMiner S7 BTC Miner.

In short, the best Bitcoin ASIC machine in 2016 is AntMiner S7. It is available for purchase from Amazon under AntMiner’s store. With an estimated return of 0.16 Bitcoin per year, it’s certainly scalable and profitable to mine with. Running 100 of these will net you 1.6 Bitcoin every year! If the price moves higher, naturally your returns on the miner will also heavily increase. It’s worth mentioning that competitors like Avalon and SP20 Jackson have good products as well. However, they simply don’t compare to the quality of AntMiner. As the price of Bitcoin increases, the hashrate and amount of people mining for Bitcoin also increases. As a result, individual users will find less blocks – but that is offset by the price increase. Furthermore, users relying on GPUs to mine BTC will be completely obliterated by the ASIC models that are available today. People with the biggest bitcoin wallet will find themselves mining more with advanced ASIC hardware rather than outdated gaming graphics cards.

What is the Best Bitcoin Wallet?

Bitcoin is making huge advancements in everyday technology. The best bitcoin wallet is incorporating all of these features to its latest build, which will be released soon. It’s highly recommended to use a secure system such as bitcoin-wallet.net, which will provide both security and flexibility to all users. Most people will prefer the online version rather than the desktop edition due to potential threats lingering in downloads.

Our recommendation for the best bitcoin wallet is convenient as heck.

Our recommendation for the best bitcoin wallet is convenient as heck.

Which Flavor of Linux should I use?

Debian and Ubuntu are good Bitcoin Mining Systems

Debian and Ubuntu are good Bitcoin Mining Systems

It’s crucial to run Linux on your mining rig. However, the distribution or flavor of Linux truly matters not. According to experts, the easiest distro to setup is a Debian-based Ubuntu setup. It’s vital to build your own setup, as backdoors can exist on ISO images that seem clean at first. But in reality, these distros may start taking little fees from you which add up over time. As a result, it’s worth spending time installing Bitcoin-core and configuring everything individually. Here’s a quick tutorial on how to get a Linux miner up and running.

Advantages to Mining rather than Investing

Countless advantages for mining Bitcoin rather than buying or investing in Bitcoin exist. It’s no surprise that many people around the world operate heavy BTC farms, which runs day and night in rural areas of countries. For one, it’s completely anonymous. Bitcoins earned by mining simply cannot be traced to your bank account. This means that you can keep large amounts of assets invested in Bitcoin without paying taxes (if you are trying to do so). Secondly, mining for Bitcoin has its own sense of reward. After all, putting your hard work in and receiving BTC as a reward is a very good cycle to be in.

If you have any tips on how we can improve this guide, please contact us or drop us a comment! We look forward to hearing from everyone.

Best Ethereum Wallet Mining Guide on Linux

Linux users are very into technology. Even if users use both Linux and Windows, there are things you cannot do as easily on Windows. The most common non-windows users are developers who need the support that the community offers. It’s very difficult to get a lot of software working on Windows, while on Linux it just becomes a breeze. But the question is, how can Linux users can started with mining some Ethereum?

Flexibility is incredibly important too, so we need a mining program that allows us to securely mine Ethereum in a safe way while maximizing the efficiency of our hardware. As it turns out, the most common way that users on Linux use to mine involves two PPAs (Personal Package Archives) which makes mining digital Ether a breeze. Go Ethereum, known as geth, is very popular for accounts as an ethereum wallet type software while C++ Ethminer is used to mine the coins.

Which Graphics Card do I use?

The RX 480 just recently came out. The price to performance ratio is absolutely insane. At least it is for gamers. The price point is insane for the performance. But what about cryptocurrency mining? According to CryptoCompare, the buyback period will be about four months. This means you’re making straight profit after only a few months of mining.

RX 480 Graphics card for Mining

RX 480 Graphics card for Mining

So should you  pick up this card? Almost absolutely. The ratings are great, and the performance is quite amazing for the specs it gives. On top of that, the power consumption is pretty good as it uses a 6 pin connector rather than 8 pins. It was initially speculated that there wouldn’t be enough power delivery from only 6 pins, but we’ve yet to see major concern. Each card will net you about one and a half dollars in profit every day at the moment, which can grow tremendously if you save your Ethereum and Bitcoin. Other mining cards such as the R9 380 have buyback times of over a year! That’s a huge investment to make, and users will likely see no profits since better, more cost effective graphics cards will be released with each coming year. With each card you have, you can bank about $500 USD per year. What’s great about this is how easily it is to scale up your mining operation. That means if you run a server farm of about 1000 cards, that’s easily $500,000 a year!

Which Distribution of Linux do I use to Mine?

Just use Ubuntu, ok.

Ubuntu works.

If you have a choice of which distribution of Linux to run, it’s highly recommended to run a stable popular one that is Debian based. Most people choose Ubuntu since users can get help and follow tutorials such as this. Any distribution will work, but you may run into problems during the setup if you decide to be interesting. Here’s a very quick tutorial on how to mine on Ubuntu 16.04 or Debian 8.

Where do I store my coins?

Since you’re mining Ethereum, you’ll obviously need to put your coins somewhere. There are a number of good options ranging from offline wallets to online wallets. It’s a good idea to use an offline wallet. But which one is the best ethereum wallet? Some users prefer a more complex method of storing their coins, using paper wallets. Paper Ethereum wallets are good for long term storage but often quite difficult to use and can be physically lost, so it’s important to be careful with the information. Mist (on Github) is a very good option for all users to hold your balances. We should also mention geth (go ethereum), as well – MyEtherWallet or best ethereum wallet is often used to generate paper wallets, and has served the community for quite some time. It’s pretty awesome how far Ethereum has come, and that it’s also the most profitable coin to mine at the moment.

Check this graphic out:

Look how profitable Ethereum is to mine! Get it for your Best Ethereum Wallet.

Look how profitable Ethereum is to mine!

For more resources on how to get started with mining, do some research on CryptoCompare and Ethereum forums. Good luck!

If you have your own tips on how to maximize profits with mining, pass us a comment below so we can add it to the article!