Please read about Bitcoin Mining in Nigeria for 2018 here Speaking of Bitcoin Mining and making it a business here in our country Nigeria, it's one of those things that I have been doing lately and have gained some experience on how it works too. So far, I have realized that the Bitcoin mining process is one that anyone with passion for Bitcoins can get involved in full time! However, I will be quick to mention that Bitcoin mining requires two major things which are MONEY & TIME (a lot of it). So, if you are venturing into Bitcoin mining, you can't start with absolutely nothing because the fact that BITCOIN requires some work to produce is what gives it the value it has. Before jumping into it all. Let's examine, What is Bitcoin Mining? A rather naive answer will be the process by which new Bitcoins are produced. What is wrong with this answer? Actually, nothing in particular but this. It does not include the technical part of the process that leads to the production of Bitcoins which is a problem. So, expanding on the answer, one can say that Bitcoin mining is the process that involves verifying bitcoin transactions in the blockchain and the reward for this process is given from transaction fees which are paid by Bitcoin users each time they want to send some Bitcoins! With that,let's see the different means by which one can actually mine these Bitcoins in Nigeria. Note: Mining in Nigeria and anywhere else is the same thing. The 'Nigeria' keeps appearing from time to time because this post is targeted for Nigerians who don't really understand how to get started Mining Bitcoin and cryptocurrencies. If you still want to learn about Bitcoin Mining in a better explained way, you can use the link below: What Is Bitcoin Mining? Beginners Guide To The Process That said, let's get straight into the process of mining and how it can be possible with you and what you have! Bitcoin Mining is no longer Profitable on a Home Basis It used to be. In fact, I think it was meant to be. That's... Bitcoin was actually meant to be mined using PC at home and it was possible at a time but that didn't continue for too long. The reason for this is very simple. It's because of the Bitcoin mining Difficulty which is ever on the rise. Please go here to understand Bitcoin mining difficulty=> Bitcoin Mining Advanced For New Miners - Difficulty|rewards And Getting Started! Two Major ways to Mine for Bitcoins in Nigeria Yeah, there are two of them and they include: 1. Mining on your own with your PC and other mining machines but the problem with this as we described above is that it's no longer profitable meaning that, your input will almost always be greater than your income from the mining setup! 2. Buying Mining Contracts Online so Companies can Mine for you This is the major one we know and do! There are different companies out there that Bitcoin Mining Requirements Whether you are mining on your PC or you are mining through a company online, you'll need these basic things: 1. Electricity This is basically to Power your setup. Without it, your computer and your machines won't just work! 2. A computer Helps you maintain the connection to the Bitcoin network while you search and verify blocks or transactions. 3. Mining Machines Yeah, they are the ASICs. They are specifically made for the mining process. What are ASICs? You can call them some heavy machines that do nothing but mine Bitcoins! Very costly indeed but at least they do their job very well of course with proper maintenance. They are also known to produce lots of heat. Here's what ASIC looks like: So, in the next section, we will dive deep into the art of mining Bitcoin cryptocurrency with these companies I mentioned! Mining with Companies Online - How it Works! The idea of mining Bitcoins online with Mining companies is simple. A you may not be able to mine these coins on your own, you can resort to paying someone else to do it for you. So these are basically what happens when you sign up with a mining company online to mine for Bitcoins! You pay them money to buy these Machines They buy them and they provide electricity to power them. They also maintain the machines for you(you Pay for this too) At the end of each day, you guys will share the profit! So, it all starts with paying them some money with which they will Buy some mining machines and start operations. Most of the companies will show you the daily report on what your machines are able to mine and you can withdraw as you wish! The best Companies to Mine Bitcoins Online? You may wanna check the old version => Best Bitcoin Cloud Mining Companies|services To Invest In 2017 I have made a list of them in the past and they include: To start Bitcoin mining with Genesis-mining Company => Genesis-mining Bitcoin Cloud Mining: How I Invested 500k|$1k To Earn 1.5k|$3 Daily 4 Life! Here, I shared the proof of Genesis-mining => PrezzY - My Own Proof That Genesis-mining Is The Real Deal [payment Proof] To start Bitcoin mining with Hashing24 => Genesis-mining Vs Hashing24: Highest Paying Mining Company To start Bitcoin mining with hashflare.io, please check out this guide by @gbolahan => How To Purchase Hashpower On Hashflare Mining With Pictures I have also written other posts on mining which you'll find helpful! How long will it take you to make back your money on Genesis-mining? [cloud Mining] Time Taken To Get Back Capital In Genesis-mining For Bitcoins How much do I need to invest in other To earn $1 daily? Hot - How Much I Need To Invest To Earn $1 Daily In Bitcoin Cloud Mining [genesis] Is Bitcoin Mining Profitable in 2017? Yes it is and with the price going higher, we expect to see more positive results! Do you know that you can Mine Altcoins with your android phone? You can learn how to do so Here => How I Mine Altcoins On My Android Phone With Minergate App How about mining other cryptocurrencies? Yes, you can equally mine them with your pc. For a complete guide on DASH mining, please go here => Dash Mining - Complete Guide For Cryptocurrency Miners Calculating the Profitability of your Bitcoin mining venture! You can go here for the best websites to do this! => Website To Calculate Bitcoin And Other Crypto Mining Profitability That's that for Bitcoin mining! Do you have any other questions concerning mining here in our country? You can ask them below.