🪙Crypto mining and Minting are the terms you usually find when researching cryptocurrency. What are those, and how which one is for you?
⚒ Crypto Mining is a process of generating new coins and verifying new transactions. It involves wide & decentralized networks of computers worldwide that verify and secure blockchains.
💎 So, how do you mine cryptocurrency? Crypto Miners use computing equipment to verify transactions on a blockchain. Each time a miner successfully solves a mathematical equation and adds a new block, the system rewards them with a certain amount of coin.
🔗 Minting, on the other hand, is the process of creating new digital coins. It’s a consensus algorithm used to create new coins on the blockchain. Minting is also known as proof-of-stake, meaning people can earn new coins by staking them. Minting is just like minting money and refers to the process of generating currencies.
⛏Minting crypto generates new coins by authenticating data, creating new blocks, and recording the information onto the blockchain. Cryptocurrency and Non-Fungible Tokens (NFTs) are mintable this way.
📰Read the full blog article about Mining Versus Minting Coins -- Which One Is for You? here: https://bit.ly/3z2llA5
🚀Knowing the two processes will give you an idea of acquiring crypto assets, but of course, you can always buy cryptocurrencies on the Coinswap Space platform using your credit and debit card. Visit our platform today!
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