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Recently, I started researching mining cryptocurrencies with a cellphone because I saw many people in crypto communities mention it.
It turns out there are several apps that promise to make it possible, but the reality is more complicated than it seems.
I tried CryptoTab and honestly it works, although the hash rate of a smartphone is quite limited.
Basically, you install the app, activate mining, and it starts working, you can even invite friends to increase earnings.
There are also cloud mining options, where you basically rent processing power instead of using your phone directly.
Apps like StormGain and NiceHash offer this, although they require restarting every so often.
Bitdeer is another one used by the more serious, but now you need to invest money.
What no one tells you is that mining cryptocurrencies with a cellphone is really not as profitable as it sounds.
The average time to mine a full Bitcoin from a phone is about 10 minutes in theory, but in practice, you'd need many hours of daily participation.
If you're looking for something easier, people mention that Monero (XMR at $389), Dogecoin (DOGE at $0.11), and Ravencoin (RVN) are more accessible than Bitcoin ($77.43k).
The debate still remains whether it's really worth it.
Some say no, due to brutal competition and the risks of scams.
Others believe that with advances in hardware and algorithms, mining cryptocurrencies with a cellphone could improve in the future.
The truth is, it depends on how much time you have available, what your electricity costs are, and how patient you are.
It's not for getting rich quickly, but if you're looking for something passive and don't mind it being slow, it's worth trying.
The important thing is to do thorough research before investing money.