Cryptocurrency Mining Affiliate Programs

Cryptocurrency mining affiliate programs

Crypto Mining Affiliate / Referrral Programs

Cloud Mining Affiliate Programs normally pay a good revenue share for life, depending on your volume, about 10-20% of the sold hashrate will be added to your hashrate or directly paid out in crypto currency.

1. LocalBitcoins

Most companies also offer discount coupons for cloud mining to make your deal more attractive for your users. You can check this site for the current cloud mining coupons.

Also, you can find reviews of the different cloud mining companys on websites like this cloud mining review site.

People all over the world make their computing power available so that new Bitcoin can be issued. Mining is what this is called. Behind this is a sophisticated system that enables the properties of the Bitcoin: decentralization, the limitation of the number of coins to be issued and the unfalsifiability of the blockchain.

What is Mining?

Mining is a reference for prospecting gold.

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Unlike gold, miners do not need a pickaxe, but only hardware such as a computer with a fast graphics card or an Antminer and software that executes an algorithm. The computer provides its energy to solve complex problems and the owner is paid in Bitcoin.

Miners are crucial for the security of the system.

They verify transactions and ensure that the system is not manipulated.

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Because a transaction can only be confirmed if the majority of miners recognize it as valid, it is not possible for individual miners to wave through a faulty transaction. In order to falsify the transaction history, a coordinated attack by a merger of more than half of the miners would be required. As a result, the security of the system increases with the number of miners.

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The more miners have to confirm transactions, the more complex and therefore less likely a coordinated attack becomes.

An incentive for more miners to join the network is a remuneration. The miner who first solved the mathematical problem and confirmed a block filled with transactions receives a fee. The algorithm on which the mining software is based determines that a block is solved every 10 minutes.

So if the number of miners in the network increases, the algorithm increases the difficulty of the mathematical problems, so that only one block is integrated into the block chain every 10 minutes and this time is not shortened with increasing computing capacity.

Never more than 21 million Bitcoin will be spent. In order not to exceed this pre-defined limit, the founder of Bitcoin, Satoshi Nakamoto, has considered that the reward for each solved block drops by half every four years.

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In 2009, starting with 50 Bitcoin per block, then reduced to 25 Bitcoin, the reward since 2016 is only 12.5 Bitcoin per block. In order for Miner to continue to have an incentive to join the network, they will also receive a small reward per transaction from the Bitcoin user.

Cryptocurrency mining affiliate programs

How high this is depends on how many transactions are currently waiting to be confirmed. Transactions with a higher reward are preferred by miners and therefore confirmed faster.

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In 2009, a few miners made it possible to mine a few dozen Bitcoins a day with a simple PC.

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Meanwhile, special hardware with enormously high computing power is being developed. The best hardware available on the market, the AntMiner S9, only achieves 0.025 Bitcoin per month. The reason for this is the increased difficulty of the mathematical problems due to the increased number of miners.

Since individual miners would hardly have a chance to find blocks, they join so-called mining pools.

The miner is then remunerated in proportion to the computing power it feeds into such a pool.

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Mining pools are thus a community of interests that distributes profit more efficiently among individual miners through mining.

Is mining still worthwhile?

With an ordinary computer it is no longer worthwhile to mine Bitcoin.

Hardware specially designed for mining has such a high computing power that an ordinary computer looks old.

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So to stay competitive, you have to buy expensive hardware - at the risk of it becoming obsolete in a few months. Alternatively, there are coins such as Monero, which no longer allow special software to become part of the mining network.

Here it might be worthwhile to mine with a computer.

Whether it pays off can be estimated very well with an appropriate mining calculator. Whether you are competitive depends, among other things, on the country and region in which you place your hardware.

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The cheaper the electricity and the cooler the climate (mining hardware overheats very quickly), the more profitable the mining.

In addition it plays a role for which coin one decides. For example, a coin can be more profitable for miners than another coin. If other miners receive a note about the profitability of a coin, they may jump on it and then be able to mine another coin again.

If you do a little research on the Internet on the subject of mining, companies' offers bribe you by earning money as a miner without any hardware.

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This is called cloud mining. The companies promise to install mining equipment in countries with low electricity costs and to lease computing capacity to their customers. Many of the companies that operate this so-called cloud mining have turned out to be pyramid schemes and made their customers' money easier.

On the other hand, other companies that are more serious, such as Genesis Mining, are only profitable to a limited extent on closer inspection.

So if you want to serve the network as a miner and generate a nice passive income, you should first use a profit calculator to find out whether the venture is financially worthwhile.

Cryptocurrency mining affiliate programs

As a beginner, you should stay away from cloud mining, especially if an offer is so lucrative that, for example, you are promised to become a millionaire within a year with a stake of a few thousand euros. The danger that there is a fraud system behind this is high.