Mining on the phone: is it worth it to get cryptocurrency

In 2018, Google and Apple introduced a ban on mining using the phone. The reason for this was not only the potential damage caused by the application for the device, but a large number of malware that were masked for mining. Even in the rules of the AppStore store, it is stated that applications should not quickly discharge the battery, overheat the device and create an extra load on the resources.

At the same time, both companies note that cryptocurrency can be obtained if the process does not occur on the device, but in the cloud. For example, in Google Play, you can find applications by the Mineergate Control type, which allows you to monitor the mining process. On the basis of Android you can try to look on the Internet on the phone mining on the phone, and download it without an application store. However, do not forget that there is a chance of installing malicious programs on the phone. Also, after installing the application, hackers can use the power of your smartphone united with other phones to extract cryptocurrency at your expense. Even if you manage to get some minimum number of coins, then in many applications, users are not able to withdraw the extracted funds.

If you still decide to start mining on the phone, do not forget that you can come across an application for cloud mining of cryptocurrencies to the malicious program that impersonate the application for cloud mining of applications. But if you are still interested in this issue, you need to correctly study the crypto market and mining methods. You can familiarize yourself with the digital asset market on the crypto -rope of tokenized assets Currency.Com. Over 2000 tokenized assets are presented on the site: shares, bonds, indices, raw materials and ETFs, as well as tokenized currencies and cryptocurrencies.

HTC phone for mining

In 2019, HTC introduced an Exodus 1S smartphone, which is a crypto wallet on which you can store virtual currency. Exodus 1 supports several protocols and serves as a knot, provides access to a universal wallet and decentralized application storage, and also saves your data in a protected place. In the spring of 2020, EXODUS 1S has its own Monero cryptocurrency mining application. However, according to journalists’ estimates, it would take a year to roll cryptocurrencies for $ 1, and to return the cost of the device in the region of $ 700 – 500 years.

Of course, Exodus 1S did not have any outstanding technical characteristics. But even smartphones on one of the currently most powerful Snapdragon 888 mobile processors will be strongly conceded in performance, for example, not the most top computers.

Is it worth it https://gagarin.news/news/coinbase-reports-a-major-loss/ to get cryptocurrency on the phone?

The meaning of mining is to solve a complex mathematical problem and in obtaining awards for this, in the form of cryptocurrency. The more resources the device spends a solution to the problem, the more there will be a reward. Given that even the most powerful smartphone has much less power than a regular PC, your reward for solving the problem will be much less.

There is also a chance that due to a high load, an expensive smartphone will simply fail. So is it worth it to engage in cryptocurrency mining with a smartphone? Technically, you can minute on any computing device, but whether it is necessary to do it? There is definitely not, since even the cost of the phone will be able to repel it through a very long time. At the same time, the capacity of the smartphone is not enough for the effective production of cryptocurrency, and components can soon become unusable.

Conclusion

Today, mining on the phone is already considered not an relevant way to extract cryptocurrency. There are many other options with which you can get a coin you need much faster and more efficiently. And when mining on a smartphone, most likely you will simply destroy your gadget and you will not be able to roll the right number of coins. The scope of cryptocurrencies is full of scammers who come up with more and more new ways to deceive users. If you want to do mining, then doing it on a smartphone is not the best idea.

Disclaimer: The message contains information about the movement of the market, is not an investment study, should not be considered as an investment council and is a subjective point of view on the object of the author of the material. Past indicators are not a reliable indicator of future prices.