Phone Mining: Is It Worth Trying?

In today’s world, effective mining requires the use of sophisticated machinery, which inevitably comes at a high cost. The higher the processing power of the mining gear, the greater the amount of cryptocurrency that can be extracted from it. It should at the very least consist of a good personal computer and multiple different video cards.

Is Cryptocurrency Mining on Mobile Devices Even Possible?

Although the possibility of running a profitable mining farm on a mobile device is firmly rooted in the realm of imagination, it is not impossible to mine bitcoin using a mobile device in general. Let’s see if we can figure out whether or not the game is worth our time.

Back in 2018, both Google and Apple implemented policies that prevented users from mining cryptocurrency using their Android or iPhone devices. The mining of cryptocurrencies places a significant strain on hardware, which might ultimately result in failure of the device. For example, the device’s battery may die prematurely or the processor may become corrupted.

When installing so-called mining programs on the phone, the user ran the risk of being a victim of fraud and spreading malware. This was an equally significant consideration. It is possible to download these applications outside of the official app stores; however, we do not advocate doing so because doing so greatly increases the risk of losing both your phone (because of the risk of downloading viruses) and your money (due to the risk of being confronted by intruders). Hackers, for instance, might utilize your device in order to mine cryptocurrency for themselves behind your back without your awareness.

At the same time, both Google and Apple have enabled cloud mining on mobile devices. Programs for cloud mining may be found in both the App Store and the Play Market. With these applications, you do not need to make use of the processing power of your device. For cloud mining, you will rent power from a third party.

How the mining process works on mobile devices

Let’s find out how to mine cryptocurrencies on a mobile device utilizing applications, in the event that you are still interested in using a mobile device as a way of mining cryptocurrency.

In the past, one of the most popular systems for mining Android cryptocurrency was called MinerGate. As a result of Google’s decision to prohibit mining activities on mobile devices, the makers of MinerGate were forced to entirely overhaul the application’s functionality and rebrand it as MinerGate Control. At this point, the only utility for it is to monitor active miners.

In general, mining on a phone and mining on a computer are virtually same with the exception of the difference in power of the devices, which is significantly greater in a computer than in a smartphone.

To mine using your mobile device, you will first need to choose and download a mining application, then run the application on your device, and then input the information that will be required to set up the mining software.

There are also mining-specific phones available. For instance, HTC introduced a new kind of smartphone in 2019 that was called the Exodus 1S. In point of fact, the device in question was a digital currency wallet built within a mobile phone. After some time had passed, in the spring of the year 2020, the business made the announcement that it would be releasing a unique application for this piece of hardware.

Using this application, one would be able to mine the Monero cryptocurrency. As a result, a portable device with mining as its primary purpose came into being.

Mobile device mining profits

The phone, regardless of whether or not it has the most recent processor available, will never be able to compete with even a mid-range computer. As a result of this, mining through the phone is an occupation that is fraught with danger and does not yield extremely high profits.

It is likely a waste of time and money to mine cryptocurrency using your mobile device. To begin, even if you work for many hours, the most money you’ll make is a few cents. Second, you expose yourself to the possibility of either causing physical damage to your mobile device (such as destroying the battery or the processor, for example) or falling prey to con artists (for example, downloading malicious software disguised as a mining application). Even Ethereum’s founder, Vitalik Buterin, referred to mining as “a game for fools” during a phone conversation.

If you are interested in mining bitcoins, we suggest that you select a method that is more suitable for the task.