Is it wise to mine crypto coins with a laptop? As you may know mining cryptocurrencies need a special set of software applications, expensive hardware, and a lot of energy.
Good as it may be, the question is whether or not it will be profitable for you, especially if you want to mine crypto coins with a laptop.
This is an article that will help you to know about it all and help you in your journey and see actual profits while keeping your laptop safe and prevent it from burning due to overheating.
Few people would say that mining crypto coins with a laptop is a waste of time and energy and would ask you to stay away from it.
They will say that there will be issues like overheating and burning up of the hardware of the system before you can break even and see any actual profit.
Moreover, they say, laptops usually do not have powerful GPUs to support crypto mining and therefore, crypto mining with a laptop was and is never a good idea.
Add to that, laptops usually come with hardware that is focused more on battery life rather than its performance and therefore using a laptop for crypto mining would never be profitable, they might also add.
However, those were in the earlier days. Things have changed now and the laptops that come today are equally powerful as a desktop and can perform at a high level consistently.
Therefore, you surely can start mining Bitcoin using your laptop these days, if you know how exactly to go ahead with it.
Is It Wise to Mine Crypto Coins with a Laptop?
Right from the very beginning when cryptocurrencies were first introduced to the people, there was a craze among the people to own more and more coins.
This is how crypto mining started and became so common and popular a technique to earn more crypto coins that it can be rightfully termed as a ‘craze.’
However, at that initial stage of the madness, the competition was pretty low and was restrained to only those individuals who took it as a hobby.
Most importantly, there were no big and resourceful organizations engaged in crypto mining.
Of late, it is noticed that more and more people engaged with crypto investment and trading have decided to make money through crypto mining, and this trend is noticed all over the world.
Therefore, back then people could use much simpler computers, equipment, and even laptops with lower performance to mine crypto coins.
However, with the passage of time, the network of miners became big and this called for a significant upgrade to the equipment.
The crypto world also saw the involvement of larger farms in crypto mining along with several other individuals, both average and professionals, joining in.
This raised the competition as well as the cost of crypto mining.
People tried to find out newer ways to mine crypto and started using laptops for that matter.
Though it is possible nowadays with those powerful laptops, mind you, it is a bit of a different and complex process.
Therefore, you will need to have proper setup, knowledge, and acumen to succeed while mining crypto coins using your laptop.
Knowing this is extremely important because you will need to compete with individuals as well as those large and powerful crypto mining farms.
Typically, mining crypto coins using a laptop can be a wonderful experience for those who are entering this competitive space.
Since this is their first time, it is elementary that they know the fundamentals of crypto mining and how exactly it works.
For that matter, spending huge amounts on a proper setup may not be feasible.
In such situations, laptop mining would make more sense to clear the confusions regarding the process.
This will help the beginners to get into the act slowly with increased confidence.
They can then plan to invest more money in this specific crypto activity and enhance their chances to have a more profitable outcome.
There is also another significant benefit of using a laptop for crypto mining.
Since the laptops are more energy efficient, it will consume much less energy and therefore you will have to pay lower electricity bills.
In comparison, if you use a proper PC for crypto mining for the same amount of time and for the same workload, the electricity bill would be double that amount, or even three times than that.
In short, your monthly electricity bill amount will be massive.
Therefore, using a laptop for crypto mining today is quite feasible provided you know how to do it, which brings to the next important point of this article.
Criteria to Follow
If you want to make your crypto mining process with a laptop a success, you will need to follow several criteria. These are:
- The laptop you use should come with proper specs, especially with a very powerful Graphics Processing Unit.
- The room where you want to set up your mining equipment should be fairly large and well ventilated for proper circulation of air so that it stays cooler and prevents heat buildup.
- You will need to make sure that the internet connection is stable and strong because the entire process would happen online.
- You will also need to install a set of software apps and therefore you should make sure that the hardware of your computer is compatible and powerful enough to support such intensive apps and software programs.
Once you have installed your laptop for crypto mining, the next thing to do is to be aware of the issues that you might face while mining crypto with your laptop and know the ways to get over them.
Issues to Take Note of
There may be quite a few issues that you might face while mining crypto coins with your laptop.
Some of the major issues that people often face while crypto mining being ignorant are:
One of the most significant problems is the power supply, and in this case it is the battery of the laptop.
Therefore, make sure that the battery of the laptop is very powerful and long lasting.
However, it will be unwise to rely only on the battery power of the device because you will need to keep it on and connected for a long time, often for days at a stretch to see positive outcomes.
Therefore, make sure that there is easy access to an electrical outlet.
This will ensure that your laptop never runs out of power and it does not shut off automatically just when you expect to see some positive results.
Remember, if the mining process gets interrupted at any point in time, it will not only be frustrating for you but will also cost you a lot of money resulting in a huge loss.
Another significant issue of using a laptop for crypto mining is heat buildup, as said earlier.
Typically, laptops tend to heat up much more quickly than a PC and therefore you will not be able to run multiple apps at the same time when the mining software is running.
Therefore, if you want to use your laptop for crypto mining, you will not be able to use it for running other applications, replying to your emails, surfing the web, playing a game, listening to music on YouTube, watching a movie or any other activity.
For that, you will either have to shut down the crypto miner or have another separate set.
This will minimize heat buildup and you will not have to stop mining at any point in time to use your laptop for different purposes.
Also, to prevent your system from being damaged due to overheating you will need to invest a few more dollars on a proper cooling system over and above the cooler that your laptop comes with.
This will ensure that the system stays cooler while operation and you can regulate the heat level by allowing a much better airflow.
Another significant issue that you may face while mining crypto coins using your laptop is the shortage of video memory on the graphics processing chip.
Ideally, while using a laptop for crypto mining, it is the GPU that is used extensively and if there is not enough memory in the card you will not be able to load all the data on it and this will significantly hamper the mining process and the final results.
Therefore, it is paramount that when you choose a laptop for crypto mining you research extensively to find a device that comes with all the necessary features and hardware specs that will allow crypto mining in the first place.
Even then there will be the pros and cons of using a laptop for crypto mining mind you, but you can do away with the cons with some upgrading done on your system after you purchase it.
Therefore, be ready to spend some more dollars on your system upgrades before you start the mining process.
Math behind Laptop Mining Farms
As said earlier, a lot of mining farms are out there and you will need to compete with them if you want to get involved in the crypto mining process, no matter whether you use a PC or a laptop for that matter.
Laptop mining farms or individuals using a laptop for crypto mining is the latest fad and if you want to join the bandwagon and stay ahead of the competition you will need to understand the math behind this craze as well as the mining farms.
Laptop mining today is a real deal but given that you will need to use a pricey laptop for that and to compete with the mining farms, you may wonder quite naturally how long would it take for you to break even and make profits.
Well, there is some simple math behind it and if you can do it well, it will be much easier for you to understand.
Of course, using a laptop for crypto mining can offer varied results and the major factor that it depends on is the memory bandwidth.
This specific factor will determine the hashing performance of the system overall.
Ideally, if your laptop comes with any one of the dedicated RTX 20-series Graphics Processing Units with at least 8 GB of GDDR6 memory in it, you will get around 45 MH/s after tuning.
A good thing about using a laptop for crypto mining is that you can get desired results even with lower GPU clocks, and, in terms of heat and power, memory overclocks will not be as demanding.
Most of the RTX 20-series and 30-series GPUs use power ranging between 80 watts and 90 watts while mining.
This can be handled with even a decent cooling solution.
However, if you want your laptop to run 24/7 then it will not be enough and for that you will need some additional assistance from a more advanced external cooling solution apart from a well ventilated large room, which is given.
Considering the cost, you will need to spend more than a thousand dollars on your laptop, until you buy several of them in bulk and get a handsome discount.
Even then, you must keep in mind that this is a lot of money for a laptop that will manage to do only around 40 to 45 MH/s.
According to recent estimates for Ethereum mining, each laptop used for the purpose will be able to generate a little over $6 a day and the power consumption for this output would be about $0.20.
You may add to it the other costs, if any, such as rent, racks, hardware repair or replacement, cooling systems, and more.
However, these are just estimates and therefore you should not rely on it blindly. It can go up or fall down very quickly given the volatile nature of cryptocurrencies.
Still, if you consider the current rate, if you calculate, it would take you more than 200 days to break even.
That is quite a long time to lock up such a huge amount of money before you can see the profits pouring in, if at all.
All these point out that mining crypto coins with a laptop is good for short term ventures because the long term prospects of this approach really looks questionable even at its very best.
How to Mine?
In the earlier days when crypto mining first started, the process was pretty simple.
All you had to do was download a client, which was easy, and then point the laptop to hashing directly on the network to solve the puzzles and add new blocks to the blockchain.
However, those were the ‘Bitcoin only’ days.
Over time, thousands of different varieties of cryptocurrencies were launched and along with it the mining process using a laptop, or even a desktop for that matter, became all the more complicated.
The difficulty level in crypto mining today is so high that it is virtually impossible to keep up with it and make handsome returns without using those extremely powerful and expensive ASIC computers.
Still, laptop mining is technically feasible if only you know how exactly to go about it.
You will first need to find out and use a good and reliable marketplace for buying or selling your hash power.
You can bid on and hire computing power as well from sellers inside the chosen platform as well.
However, make sure that you find out the payment mode accepted for that matter. Usually, they receive payments in Bitcoin.
Once you are done with that, you will now need to download and set up good and efficient crypto mining software on your laptop.
You will need to make sure that this software is compatible with your hardware, especially the graphics card in your laptop.
At this point, make sure that you spend some time on researching the software that you want to use for laptop mining.
Ideally, it should not have any issues while running and, if it comes with an internal wallet and you want to use it, there should not be any reports of wallet breach. Read the reviews thoroughly for that matter.
Create an external wallet if you want to be safe and use one.
Once again research is necessary to find the best broker or online service to choose and create a wallet with.
When you are done with the download, run the mining software. Select the executable file that you will find in the download folder for that.
It will take a few minutes to boot up. After that it will ask for your wallet address. Paste it on the wallets tab into the mining software when prompted.
After that, you will have to name the miner, save it and hit ‘Start.’
When all these processes are completed, the mining software will run a set of benchmarks to test the hardware of the laptop and also use several different algorithms for that.
It may take a couple of hours for this process to complete depending on the hardware of your device.
When this is done, the miner will start functioning and you can see the payouts estimated on its user interface.
Different crypto mining software may have different set up processes and therefore you should read and follow the instructions carefully.
A few of them may ask for a password and username while others may ask you to enable GPU mining in your device.
A few may even offer different configurations and allow you to run the miner at idle speeds while others may come with auto currency converting and auto profit and coin switching abilities.
All these different mining software come with different sets of advantages depending on the market conditions and demand.
There may also be some fees associated with their usage. Also check for the advanced setting and controls of the miner before choosing one.
You may choose one with a powerful web console that will allow better management and monitoring of the performance of your device while mining crypto.
Latest features such as remote device activations are most welcome.
Therefore, make sure you research well, compare them with your laptop, and then choose the right crypto mining software to download.
As crypto mining is gaining popularity, the laptop manufacturers are also putting in their best efforts to come up with more advanced laptops to support the crypto mining process.
And, this is technically possible, as said earlier.
Now the question is how profitable it will be given that you will need to compete with those ASIC or Application Specific Integrated Circuit computers that are much, much more advanced in comparison to any given desktop, and certainly much better than a laptop.
You may now wonder whether, after doing all these, it is still smart and profitable to mine crypto coins using a laptop.
Well, the answer to this question is: yes, it surely is, especially in the short term.
You will have at least a platform to know about crypto mining and get the feel of it along with some minimal profits and minimal earnings as additional bonus.
Remember, making money is not easy and nobody can get rich overnight.
You will certainly need to put in a lot of effort, time, resources, money, and energy to be able to achieve a result that will satisfy you.
Therefore, it is worth taking this risk and keep on practicing crypto mining until you become quite good in this activity.
And, in that case, using your laptop will be most feasible, cost-efficient, and productive at the same time.
If you use algorithm switching software you can even make some higher profits in laptop mining given the fact that the crypto market is now going crazy after the pandemic especially.
Also, you can make more profits and relatively easily if you go for those crypto coins that are just released.
This will allow you to take advantage of the lower mining difficulty level as well as higher block rewards.
However, these gains will not last long due to the limited window of opportunity and therefore you will need to make your decision quickly if you want to make the most of the given situation.
Also remember that profitability in mining crypto coins with a laptop will entirely depend on the hardware of the system as well as the demand of the buyers for hash power.
Possibilities of Damage
No matter what, the design of a laptop is much more fragile as compared to the design of a desktop.
Therefore, if you use it for mining crypto coins it will be quite risky and there is always a high chance of damaging it during the process.
The main issue is the heat buildup, and if you use the system 24/7 for mining crypto coins it will surely result in overheating and failing eventually.
Therefore, if you plan to use your laptop for mining crypto coins, do not leave it neglected even if it is the best and most expensive device of all.
Also, make sure you do not run other apps on it while mining, as said earlier, because that will not only cause some serious lag issues and lower the performance of the system and mining outcome but will also damage the system slowly but surely.
To prevent this, you can either shut the miner off while using your laptop for general computing tasks.
It will be much safer for your laptop but, that would once again result in loss.
And, to prevent damage or failing of the internal components frequently, you should not use your laptop on a flat and hard surface while mining.
This will restrict the airflow of the laptop and cause thermal issues.
It may be profitable to use your laptop for crypto mining but for that you will need to be knowledgeable about the needs, criteria, process, issues, and a lot of other different things. Hope this article has been able to educate you in it all.