Virtual Currency Miners

Virtual Currency Miners

Cryptocurrencies are digital assets that are used as a method of exchange, such as securing transactions, verify transfers of assets and controlling the creation of additional units.

They have no intrinsic value and are very much alike to materials such as gold and diamonds in the sense that there is no central bank that controls the market. Similarly to gold and diamonds, there is a finite resource of cryptocurrencies and these will become more valuable as supplies deplete. A subdivision of cryptocurrency and digital currency are virtual currencies. Of the many virtual currencies, there are four main ones that are used known as Bitcoin, Litecoin, Peercoin and Namecoin respectively.

Virtual currency can be sent directly from user to user without interference from banks and credit card companies. While this can all be done electronically, this is not necessarily exclusive as physical transfers can also be done through paper equivalents and engraved metal objects that represent the units, but cryptocurrencies cannot simply be printed out.

Virtual currencies such as Bitcoins are earned through solving mathematical problems with a CPU, GPU or ASIC through a process known as mining. Solving a problem results in the reward of a percentage of a Bitcoin, of which there are 21 million in total. Litecoins are known to be ASIC-resistant, which means that they are quicker and easier to mine. It is more difficult to make dedicated hardware, such as ASICs, for mining Litecoins and this, in turn, indicates that there is no significant speedup by using an expensive ASIC over a more standard CPU.

Find miners dedicated to different hash algorithms, including those suited for Scrypt, SHA-256 and X11. Discover Bitmain Antminers with warranties and Gridseed miners for Litecoin mining. Discover power supplies for multiple Gridseed units, perfect for creating a powerful mining rig. Keep your currencies safe with a USB wallet, ideal for storing various types of virtual currencies.