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What is a Bitcoin Wallet?

A Bitcoin wallet is a digital wallet that stores the keys to your Bitcoin balance and allows you to transact with other Bitcoin users You can think of it as a physical wallet, but instead of storing cash or credit cards, it stores the ‚keys‘ to your Bitcoin. A Bitcoin wallet contains a public key […]

ASIC vs GPU Mining

ASICS (Application-Specific Integrated Circuit) vs GPU (Graphics Processing Unit) mining is a topic that is always hotly debated. There are pros and cons to both types of mining, and it really depends on your needs as a miner to decide which is best for you. ASICS, or application-specific integrated circuits, are chips designed specifically for mining Bitcoin. […]

Why do we need ASIC miners to mine Bitcoin?

The acronym ASIC stands for ‘application-specific integrated circuit’, which is a microchip designed for a particular purpose or task.    An ASIC miner is a computer which is designed for the sole purpose of cryptocurrency mining. Bitcoin uses Proof-of-Work (PoW) as its consensus mechanism, and new Bitcoin are generated through a computing process called ‘mining’.   […]