There are certain tools that need to be in place in order to mine Bitcoin successfully. The general tools to have before mining any digital coins are a hardware component, a software component, and a storage component.
The Right Hardware
Miners need to get the right hardware to mine Bitcoin. The mining hardware needs to use an Application Specific Integrated Chip (ASIC), which was manufactured specifically for Bitcoin mining.
The good news is that there are only a few companies left that make ASIC miners. Miners should not have much trouble deciding on what hardware to use.
One of the top Bitcoin mining rigs, which is the hardware component, is the Antminer S9.
When selecting a Bitcoin mining rig, it is important to consider a few component that make up the hardware. Some of the main specs include the Bitcoin exchange rate, the rig’s power consumption, and the rig’s hash rate.
All these factors have an impact on your Bitcoin mining efficiency.
The Right Software
It’s important to get software that is compatible with ASIC miners. Bitcoin enthusiasts believe that the only way to profit from mining today is to use ASIC mining components.
The software has a variety of functions, including controlling and monitoring your mining rig.
Bitcoin mining software’s main job is to send your mining system’s work to the rest of the digital currency’s network and receive existing work from the network in return. The software also monitors mining statistics like hash rate, fan speed, and rig temperature.
The Right Conduit to Receive Profits
The miner should have a way to save Bitcoins, since the digital coin is a web based currency. Here is where a Bitcoin wallet will come in use. The mining software will always ask for a Bitcoin wallet address so that it can send any mined coins to the right wallet. Bitcoin enthusiasts should collect currency in Bitcoin compatible wallets, which allow mined Bitcoins to be stored and transferred.
A Bitcoin wallet’s address is usually a long sequence of letters and numbers. Wallets can be accessed by miners through a private key, which acts as a wallet password.
Some digital wallets may not be compatible with Bitcoin, so it is important to consider a wallet’s features before choosing to send any mined currency to the wallet’s address.
These are our ratings for the five best Bitcoin mining software options on the market. The review for each of these options looked at hardware compatibility and additional features, which are important in rating software.
Compatibility With a Rig
It is important for the Bitcoin mining software to sync with the rig in order to control and monitor the mining process.
There are two questions to determine whether the best Bitcoin mining software is compatibility with your system.
What platforms can the software run on?
And, does the software have any specs that define its integration in the mining process?
The additional features mainly look at comparing user interface and user experience between the best Bitcoin mining software options.
The features to consider seriously are detailed monitoring, mining support, and easy integration.
The Features of the Best Bitcoin Mining Software Options
The best Bitcoin mining software will have high quality monitoring of the mining process, easy access to mining support, and easy set up with the mining rig.
The best Bitcoin mining software should have the basic mining statistics available like fan speed and temperature. Additional statistics to monitor could include a database of block updates and a graphical representation of mining performance.
This feature is a way to communicate with the rest of the network. These support systems take forms like access protocols and troubleshooting options.
This last feature is how well the software syncs up with the hardware. It looks at aspects that define the connection between software and hardware compatibility like whether the software is compatible with the ASIC standard or the CPU standard.
Top 5 of the Best Bitcoin Mining Software Options
These are the among the best Bitcoin mining software options available on the market. Many of the options are open source and compatible across a number of systems.
This open source mining software is written in the C programming language and is available on several platforms, including Windows, Linux, and OS X.
This software is likely the most popular option on the market among miners and Bitcoin enthusiasts. The software’s popularity comes from it being based on the code of the original CPU Miner. It works on FPGA’s and ASICs, but it can be used for GPU mining too.
The main features of this software include its fan speed control, its remote interface capabilities, its self-detection of new blocks and mini database, its binary loading kernels, and its multi GPU support and CPU mining support. The software also allows you to change settings in the ASIC or FPGA rig like the voltage.
This software allows mining using many proxy methods. There is also the option of mining solo as well as through pooling.
This software is similar to CGminer and is popular because of its versatility. The main difference between this software and the CGminer software is the rig compatibility. BFGminer is designed to specifically work with rigs that are based on ASICs instead of CPUs.
Some main features in BFGminer include vector support, integrated overclocking and fan control, ADL device reordering by PCI bus ID, and support for mining with free Mesa/LLVM OpenCL.
This may not be the best Bitcoin mining software on the market, but it does have a particularly strong feature in being able to connect with users and potential clients.
The software is easy to use with a focus on easy mining with high payoffs. It is compatible with Windows, Linux, and Mac OS X platforms.
This software connects to a Bitcoin mining pool, so the first step miners will need to go through is signing up for the pool – a great option for simple installations.
Another feature that stands out is a good mining speed.
The software uses long polling in order to minimize stale work for your mining rig. BitMinter also allows mining on OpenCL-compatible GPUs and ASICs/FPGAs.
A Buyer’s Guide to the Best Bitcoin Mining Software
Some of the key things to consider are compatibility and user experience when it comes to making a decision on the best Bitcoin mining software.
The most important element in selecting the best Bitcoin mining software for you should be whether it is compatible with your mining rig. The whole software selection process is useless without realizing this condition. Mainly, the software should also be able to communicate with the rest of the Bitcoin network in order to keep the mining rig’s work relevant.
Whatever software you opt for should be capable of relaying information between the blockchain and the mining rig in a way that suits your needs. Your needs could span from solo mining to mining on the cloud. There are a number of other mining options in between too.
Cloud vs. Hardware Mining
One of your considerations should be to choose between cloud and hardware based mining. There are many different Bitcoin mining software options with a variety of important features for hardware based mining. The best Bitcoin mining software options listed here are for hardware based mining mainly.
The best mining software should be able to work on almost any operating system such as Windows and Linux.
The best mining software should also be able to relay important statistics about the mining process like temperature, hash rate, and fan speed. Bitcoin enthusiasts and miners should opt for a software option that bundles in all the necessary statistics that they will need to conduct their mining operation.
Deciding on the Best Bitcoin Mining Software for You
There are many options to choose from in this component of the mining process, but the good news is that there are a lot of open source options for Bitcoin software. Bitcoin enthusiasts and miners should decide on options that would best suit their needs on factors of compatibility and monitoring.
Part of the journey into Bitcoin mining is to be adventurous and test different software components. There are many software options competing to be the best Bitcoin mining software. All these different options bundle different features to consider in your mining operation.