How to Mine Cardano Ada in 2020

How to Mine Cardano Ada in 2020

The short answer for How to Mine Cardano would be no. Cardano mining is impossible because it is not part of the “Proof of Work” consensus. However, Cardano can be staked.

What does this mean? Well, you simply keep your Cardano wallet (the main one to use is called Daedalus) online, and in turn receive a certain percentage of your already owned ADA coins as payment. This method is used by the “Proof of Stake” system, which confirms transactions via already existing ADA coins, rather than by using hardware (that would be the case with mining Cardano).

How to Mine Cardano Ada in 2020

When it comes to “Cardano mining”, this is super handy for a couple of reasons.

First of all, you don’t need to worry about mining methods. There’s no cloud mining, GPU or CPU mining – none of that. You save a lot of money on mining hardware, cooling, and electricity, which you can then invest in the ADA coin itself.

Additionally, the process is *that* much easier – all you need to do is keep your wallet online and that’s it – the income distribution will deal with itself. The more Cardano coins you own and stake, the more you will receive.

The developers also promise that during the “Reward Era” they shall release constant updates and features regarding Cardano. During this time, stake pools (same thing as a mining pool, only with the “Proof of Stake” system in place) will emerge and people that hold little amounts of Cardano but participate in the transaction processes will be able to receive greater rewards.

All in all, the “Proof of Stake” system seems to be working for Cardano. The coin’s development team is professional and experienced in their respective fields, so this cryptocurrency has a great backing and can continue to grow and advance, both in price and in Blockchain technological terms, without having an actual Cardano mining option. "How to Mine Cardano Ada in 2020"

If you’re looking for cryptocurrencies that would be both somewhat popular and beneficial to mine, you’ll probably encounter tens if not hundreds of contenders. It can get significantly hard to choose, especially if you have little to no prior knowledge on the topic of cryptocurrency.

Cardano is one such cryptocurrency. Moreover – the coin’s creators do strive to make it the BEST of its kind. And even though mining Cardano the old-fashioned way is impossible, IOHK offers a great alternative to that problem.

Because of the mainstream popularity of cryptocurrency mining, a lot of people have probably never even heard about staking. This can often discourage – not everyone wants to participate in something that they have no prior knowledge of, especially when there’s a familiar alternative. But this method of Cardano “mining” is beneficial in most ways imaginable – it’s (in a way) free, requires no continuous effort, and is quite flexible.

In addition to everything, the developers behind Cardano promise constant updates and renewals. The team seems to be very adamant about producing the best product possible – they have been sticking to their plans ever since the inception of the coin.

So, even though Cardano mining isn’t a thing, it is possible to obtain it via other means. If acquiring cryptocurrency is your main goal, and you don’t necessarily care about the process of how it’s done, you should check Cardano out.

I hope you found this guide useful. Many people around the world believe in Cardano’s success and are willing to contribute to it. There are dedicated forums online which you can visit and read through to get a better understanding of the ADA’s goals and motivational factors if it’s still not clear to you.

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