Crypto Mining Services

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What Is Cryptocurrency? Understanding Cryptocurrency Mining and Computers

In short, cryptocurrency is a form of digital currency that is maintained and verified by many decentralized authorities instead of one centralized authority (Source). Even with a short definition, Bitcoin and other cryptocurrencies can seem as big of a myth as Bigfoot sometimes. That's likely why they share the prefix "crypto-" in their titles. "Cryptocurrency" for secret or hidden money. "Cryptid" for secret or hidden animal.

The truth is that cryptocurrency does not have to be a mystery. At Boise Computer Depot, we can help with understanding some founding principles (especially with Bitcoin and Ethereum  mining) so that the average person can benefit from crypto mining and accruing cryptocurrency as part of an investment portfolio.


Mining Crypto and Buying Crypto Mining Equipment Services, Boise, ID

Crypto mining" is the term for how cryptocurrency is generated. It involves a few simple steps:
  • Give an organization permission to use your computer (i.e. crypto mining equipment) to run complex algorithms to solve math problems. This involves downloading an app.
    • FYI: Some groups don't have the upfront capital to buy all the processing and computing power that they need to work on a problem, so they've resorted to crowdsourcing their computing.
  • Designate some time (often overnight) when you're not using your computer but that it is powered on so that the organization has access.
  • Receive cryptocurrency payment based on the amount of time or the amount of math problems your computer completes.
  • Hold onto your cryptocurrency as an investment, buy something from a vendor that accepts your type of cryptocurrency, or sell your cryptocurrency for conventional payment.

The organization you choose to work with will determine the kind of cryptocurrency you receive. At Boise Computer Depot, we specialize in Bitcoin and Ethereum. We are well-versed in these cryptocurrencies, and therefore also experienced in helping people purchase the right kinds of mining computers that will optimize what you hope to get from crypto.
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We also offer crypto mining services that involve running, watching, and maintaining your crypto mining equipment to make this income even more passive for you. Talk to one of our computer specialists to learn more.
Whether you're just dipping your toes into the Bitcoin waters or you'd like to make crypto mining a meaningful part of your personal investment strategy, Boise Computer Depot can help. Give us a call at (208) 602-6132 or contacting us here to start your crypto journey.
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