Cryptocurrency is all the rage these days, and it’s no surprise. If you buy into a cryptocurrency early enough, you can see some amazing returns on your investment.
So how do you get started with cryptocurrency? The most common way is to buy it from a legit cryptocurrency exchange. The other method is to mine cryptocurrency, but that is usually quite a hardware-intensive process. But what if you’re not interested in buying a whole bunch of fancy equipment to mine cryptocurrency? What if you just want to get started right away and don’t care about making money off of it?
Well, there are still ways to make a little extra cash while mining cryptocurrency on your phone! Here are 6 tips for mining cryptocurrency on your phone
Don’t Use Your Phone’s Default Browser
Your phone’s default browser may not be the most secure, so for your own protection, a different browser is recommended. Some alternatives include Brave and Firefox Focus.
These browsers take security and privacy very seriously, which means content blockers are built in to keep ads from tracking your behavior and the websites you visit. They also work hard to minimize data collection efforts by third parties like Google, Twitter, Facebook, and others.
Use an Alternate App Store
Download apps from trusted sources only. When you download an app, make sure it is coming from a trusted place, like the Google Play Store or Amazon Appstore. Check the reviews before downloading. Reputable apps will have lots of good feedback and only a few minor complaints. If you are unsure, get a recommendation from a friend.
Check the permissions the app is requesting. Before installing an app, check what permissions it requires (e.g., access to your contacts list or the ability to send SMS messages). If they don’t make sense, don’t install the app!
If you’re worried about any particular permission request, consult a trustworthy source such as Malwarebytes’ blog post on “Android Permission Types Defined,” which provides information about each type of permission and why apps might need them.
Protect Your Phone From Malware
Another thing you’ll want to be careful of is malware. Cryptocurrency wallets are accessed through a private key, which is basically the password to your account. If malware gains access to your phone and steals this code, it can easily send all your crypto into another wallet. Malware can also replace the wallet addresses on-screen with its own, so you may think you’re depositing money into one wallet address, but it’s actually going somewhere else.
Fortunately, there are some steps you can take to prevent your phone from getting infected in the first place. Install an antivirus app on your device (or download one if you don’t have one). This will help block malicious software before it has a chance to do any damage.
Additionally, avoid clicking or downloading anything suspicious or unknown. Stick with apps that have a proven track record and that are recommended by others in the cryptocurrency community. If an app – especially a mining app – looks too good to be true, it probably is!
Consider a VPN
You should also consider using a virtual private network, which can protect your privacy and help you bypass ISP throttling. If you’re looking to trade cryptocurrency, a VPN could allow you to access websites that are restricted in your area.
It may also help you get lower prices on flights, hotels, and car rentals by letting you circumvent geographic restrictions while shopping online. For example, if an airline’s flight deals are only advertised to international users due to regulatory restrictions in the US, a VPN can make it possible for someone in America to see them.
VPNs can cost money—typically between $5 and $15 per month—but there are free options available as well (though these services often have limits or other tradeoffs). It’s worth noting that some free VPNs have questionable privacy practices; if this is something that concerns you as a user of cryptocurrency mining software, then take care when choosing your service provider.
Watch Out for Scams
Mobile mining is a perfect introduction to cryptocurrency for many people, but you have to be careful. Phones are much more vulnerable to certain kinds of malicious apps than computers, so keep your wits about you when searching the App Store or Play Store. For example:
- Beware any app that asks for your private keys. These are the passwords that allow you to access the coins in your wallet, and they should never be given out. If you lose them, there’s no way to recover them! There are some apps that promise to mine on your behalf, but these can’t be trusted; if they were legit, they wouldn’t need access to your private keys.
- Avoid downloading apps from sites other than official ones like Google Play or Apple’s App Store, and avoid clicking links from sources you don’t trust. The risk of malware is too high here; it’s much safer—and easier—to stick with reputable sources and download buttons that work within those sources’ ecosystems (e.g., Google’s “download” button in the Play Store).
- Be alert for fake wallets (apps posing as crypto exchanges) and fake airdrops (promises by scam artists promising free cryptocurrency in exchange for personal information).
Use These Apps
To get started, you’ll want to download some mining apps from the app store. Here are a couple of tried-and-true mining apps and how to get started with each:
- MinerGate Mobile Miner. This app is available for both Android and iOS devices. It requires no signup and allows you to mine using whichever cryptocurrency has the highest exchange rate against Bitcoin at the time. To use this app, all you have to do is enter your email address so that payouts can be sent once they reach a certain threshold (currently 0.001 BTC or its equivalent).
- lolMiner: This app was designed by a group of GPU enthusiasts who wanted to transform their iPhone into an Ethereum miner. The lolMiner works with several proof-of-work algorithms, including RandomHash and Blake2b, but it works best with BFC 24/7 Allium mining on an 8C 16GB iPhone XR (although it won’t run on anything earlier than iOS version 13).
- Bitcoin Miner: This app is simple and straightforward: it mines for bitcoin. The interface is easy to navigate and has clear instructions on how to use the app. Bitcoin Miner will mine bitcoins on your phone while it’s idle and then send them back to your wallet once they’re mined.
- Bitcoin Miner Pro: If you want to mine other cryptocurrencies, this app can do that too! It looks similar to Bitcoin Miner but has different features like being able to mine for other coins like Ether and Litecoin. You can also set up automatic payments so that when you reach a certain amount of coins mined in one day, they’ll be transferred directly into your wallet automatically.
Mining cryptocurrency on your phone is a fun and easy way to make a little extra cash. You don’t need anything special, just your phone and the right app.
But before you get started, it’s important to keep in mind that mining cryptocurrency is a job—and you should treat it like one. That means doing your research, understanding what you’re getting into, and being ready to commit some time and effort if you want to see results.
It’s also important to remember that mining cryptocurrency on your phone isn’t a sure thing. While it has been known to produce some pretty amazing returns for some people, there’s no guarantee that it will work for you—or even if it does work, how much money you’ll earn.