Ever wanted something a bit different for your mobile phone or tablet? Can this type of extraction be profitable enough? What are the disadvantages of extracting digital currency from a phone? Join us to find the answers to these questions.
Extraction of digital currency with software
There are software that you can install on your mobile phone to extract digital currency. The basics of these apps are that you connect to an extraction pool. In some applications, this is done automatically. But in others, you have the right to choose the pool you want. Pools are places where miners share the processing power of their devices to extract ciphers. Each member then receives a reward based on the amount of power they provide to the pool.
Reduce battery life
One of the consequences of extracting digital currency for your phone is shortening its battery life. Due to the constant activity of the mobile phone, you have to charge it two or three times a day. This will not be very interesting for your battery. Even if you want to turn off the phone for a while and then use it to rest the battery, you have to say that you will not earn much money.
Mobile processing power
The processing power of mobile phones is much lower than that of computers and digital currency extraction devices. On the other hand, the speed of extraction depends entirely on the processing power of the device. So the less processing power you have, the more time you need to extract. If we want to be realistic, mobile phones cannot compete with powerful extraction devices.
Damage to mobile parts
Using a mobile phone to perform mining operations also depreciates its components. In addition to the battery mentioned earlier, the phone’s CPU and RAM will also wear out due to constant use. Even if we don’t want to use it constantly, we can’t do the extraction operation in an acceptable way. So be careful not to spend more on your new phone.
Some digital currency extraction software with your phone may damage your mobile hardware. They may even act as malicious and spyware on your phone. So try to use reputable software to do this.
Is it economical to mine with a phone?
Given the cost of energy and internet that you have to provide, as well as the repairs that your phone may need, I would say that this is not economical. At the same time, the processing power of the phone is very low for bitcoin mining. However, we will probably see the development of mobile phones in the near future. However, it is unlikely that these phones will be able to compete with the powerful digital currency extraction devices.