I just went online to check out Bitcoin mining through apps on my phone, and I was genuinely shocked. This whole trend looks really appealing on paper, but in reality... it’s not worth it. Just imagine mining Bitcoin with your phone and making money easily—turns out, though, that the withdrawal fees are high, the mining speed is slow, your phone’s battery drains quickly, and there’s also the risk of getting scammed.

The problem is that electricity prices are rising, while Bitcoin mining rewards keep decreasing. Even if you choose a reputable Bitcoin mining app, the profit still isn’t really worth the cost of electricity. And if you pick the wrong app, it’s even worse—those fake scam apps pretend to mine crypto, but in fact it’s just a game, or they ask you to deposit money to “activate” the mining features.

Bitcoin’s current price is around $77.4K, up quite a bit compared to last year, but that doesn’t really help anyone who mines Bitcoin via an app. If you want to make money from crypto, derivatives trading is more reasonable—at least you don’t have to worry about hardware breaking. If you’re considering trying to mine Bitcoin on your phone, I’d suggest you think twice.