Cryptocurrency has certainly gotten a lot of attention over the last few years and it doesn’t seem to be slowing down. You can get into earning money from cryptocurrency by just buying and trading in the market like most people, however if you are good at math and computers you may want to consider cryptocurrency mining which is also know as digital currency mining. It’s not without it’s risk as well, but your potential for income can be a lot higher than it would be in the market. You will need to write some software, but never fear we have a Codecademy promotional code that can help with that.
What is cryptocurrency mining?
So what exactly is cryptocurrency mining? When many people first hear the term they are concerned that it is some kind of shady practice that is illegal and will get them into trouble. Not so! With cryptocurrency mining you are solving complex math problems for a variety of different people, and you get rewarded with a few tokens of cryptocurrency. This is your ‘stake’ in that digital currency, if you will. If you happen to mine some of the right cryptocurrency at the right time, the payoff can be massive. The ‘mining’ is done with a ‘mining rig’, which is a computer that has been outfitted with the necessary hardware and software to solve the math equations required to earn your digital currency tokens.
How does Codecademy work? And where do I get a promotional code?
Alright so we have a basic overview of digital currency mining now, what is Codecademy? Codecademy is the premiere website for learning how to code at an advanced level. You are going to need much more than basic programming skills if you want to get into cryptocurrency mining, as well as very strong math skills. Codecademy can get your coding game to the level it needs to be at. They offers self-directed online learning where you will advance through different modules by completing practical skills labs as well as taking written tests. There are teachers available to help you if you have questions, but you don’t have to show up for a class at a specific time and you can take as long as you like to work through the course. They have a free version, but we recommending signing up for the Pro subscription as you get a lot more with that, including certification. Even if you decide cryptocurrency mining isn’t for you, the skills you learn could be put to use in any number of high-paying careers. You can use the promotional codes from the link at the beginning of the article to get your Pro subscription at a significant discount.
Why not just use pre-made cryptocurrency mining software?
The one thing about digital currency or cryptocurrency is that the work is very front loaded and it can take a while before you see any profit. You need to set up your mining rig and write your software before you can start mining. If you do any basic research on cryptocurrency mining you may see lots of advertisements for ready made software that you can purchase to start mining today. Some are okay, a lot of them are terrible or outright scams, none of them are really going to be that great. To do well in cryptocurrency mining you really need to put the time and effort in and write your own software.
However, I think the benefit of using pre-made software is that you can see what a finished product might look like and play around with it a bit. You can see what you do and don’t like about the program, and what you might want to include or do differently in your own. It will also give you a sense of what the mining work will be like, and if it’s something you would like to do. Once the software is finished you will mostly just let it run and earn money passively, but if you feel the effort is not worth the reward then it’s better to find that out before you put hours and hours into programming. If you decide to purchase some software do some research on it first to make sure it’s legitimate, and really don’t spend too much on it.
How can I get started in cryptocurrency mining?
First do your research. What kind of cryptocurrency do you want to mine? Keep in mind that not all digital currencies are available for mining, and the mining processes will vary a bit from currency to currency. You will then need a cryptocurrency wallet for storing tokens that you successfully mine, a mining rig which can get pricey depending on what you are looking to mine, and your software. It is quite a bit, but as I mentioned the work is almost all in the beginning and then once you get up and running the income is largely passive. Can you make a full time income doing this? Some people do, and others just look it as an easy way to make beer money. As with most things, the more time you put into it the more reward you can expect to reap.