Discover How to Earn Money Mining on Your Smartphone!

**Phone Mining: A Surprisingly Legit and Profitable Venture**

In the world of cryptocurrency mining, we often associate it with powerful rigs, expensive GPUs, and high electricity bills. However, there is a new player in town that is turning heads and raising eyebrows – phone mining. Yes, you read that right. Mining cryptocurrencies on your phone is not only legitimate but also surprisingly profitable. In this article, we will delve into the world of phone mining, explore its profitability, compare it to other mining methods, and provide recommendations for maximizing your earnings.

**What is Phone Mining?**

Phone mining involves using your mobile device to mine cryptocurrencies. While there are multiple coins that can be mined on your phone, we will focus on VerusCoin for the purpose of this article. VerusCoin is specifically designed to be mined on mobile devices, as stated on their official website. By downloading a mining app, inputting your wallet address and mining pool server address, and hitting start mining, your phone’s CPU will start processing shares and sending solutions to the mining pool. Essentially, it functions similarly to running a miner on your PC, but on your phone.

**Profitability and Power Consumption**

Now, let’s talk about the profitability and power consumption of phone mining compared to other mining methods. It’s important to note that VerusCoin is in the process of implementing merge mining, which allows you to mine multiple coins simultaneously without increasing power consumption. While merge mining is not yet available, it has the potential to significantly boost profitability in the future.

Currently, on a $49 phone, you can achieve just under 4 megahash with a power consumption of only 3 watts. According to calculations, mining with 10 of these phones can generate a daily profit of approximately 34 cents, considering a power price of 15 cents per kWh. While this may seem insignificant at first glance, there are a few points to consider. Firstly, if you already have old phones lying around, setting them up for mining essentially translates to free money. Secondly, in a crypto bear market, holding onto the coins and selling them at a higher price in the future can increase your realized daily profitability. Lastly, compared to a $500 GPU like the RTX 4070, 10 of these phones actually generate more daily profit at a 15 cents per kWh power price.

To provide a comparison, let’s look at mining VerusCoin on a CPU mining rig, such as a Ryzen 3900X rig. While the rig offers around 30 megahash, the power consumption is approximately 90 watts, resulting in a daily profit of only 2 cents after deducting power costs. The phones, on the other hand, provide nearly 4 times the hashrate per watt and slightly better hashrate per dollar spent on hardware.

**Recommended Phones for Mining**

When it comes to phone mining, you have two options. You can either use old phones you already have or purchase phones specifically for mining. If you choose the latter, the Samsung Galaxy A03s is highly recommended. This phone runs on the Armv8 architecture, utilizes lithium polymer batteries that do not swell over time, and can be purchased for just $49 when locked to the tracphone carrier on American Amazon. It’s important to note that the carrier lock does not affect mining, as you don’t need to activate or connect the phone to the network.

If you decide to purchase the Samsung Galaxy A03s or any other phone for mining, consider using the affiliate link provided in the video description. This helps support the channel without any additional cost to you.

**Setting Up Phone Mining**

In a week from now, a follow-up video will be released, detailing the step-by-step process of setting up mining on your phone. This video will cover everything from unboxing the phone to configuring the wallet and initiating the mining process. Whether you have old phones or plan to purchase new ones, this video will guide you through the setup process.

**Frequently Asked Questions**

**Q: Is phone mining legal?**
A: Yes, phone mining is legal as long as you comply with the laws and regulations of your country.

**Q: Can I mine other coins on my phone?**
A: While VerusCoin is optimized for mobile mining, there are other coins that can be mined on mobile devices. However, for the purpose of this article, we focused on VerusCoin.

**Q: Can I mine on iPhones?**
A: Phone mining is primarily compatible with Android devices. iPhones have restrictions that make it challenging to mine cryptocurrencies.

**Q: How much can I earn from phone mining?**
A: Earnings from phone mining depend on various factors such as the number of phones, hashrate, power consumption, and coin prices. While the initial profits may seem modest, holding onto the coins and selling them at a higher price in the future can significantly increase your earnings.

**Q: Is phone mining worth it?**
A: Phone mining is a cost-effective and accessible way to enter the world of cryptocurrency mining. While it may not generate substantial profits initially, it offers a diverse mining approach and the potential for future profitability with the introduction of merge mining.

In conclusion, phone mining is a legitimate and surprisingly profitable venture. With the right phone and setup, you can earn daily profits by utilizing your phone’s CPU power. While it may not replace traditional mining methods, phone mining offers a cost-effective and accessible entry point into the world of cryptocurrency mining. So, whether you have old phones lying around or decide to invest in mining-specific phones, phone mining is definitely worth considering for those looking to diversify their mining portfolio and potentially capitalize on future profitability boosts.