Welcome to today's Cryptocurrency for Dummies Bonus Lesson, if you missed any of the previous lessons you can find them here:
Lesson 1
Lesson 2
Lesson 3
Bonus Lesson Part 1
Today's lesson is Android CPU Mining. If you are reading this, there is a good chance you are already earning the cryptocurrencies Steem and Steem Dollars(SBD). Now you have a chance to earn another cryptocurrency called Gridcoin.
CPU mining on an Android device is cheap! Whether you have an Android phone or a tablet, you can use that device to mine Gridcoin. You won't get rich, but you can earn a little bit of Gridcoin and in the process you will be advancing scientific research at the same time. That's right, mining Gridcoin allows your device to become part of a large distributed super computer used to perform calculations for different Science Projects such as curing cancer, searching for extraterrestrial life and mapping the stars.
Since an Android device won't earn you a lot of Gridcoin, we will be showing you how to set up mining through GRCPool. Go ahead and follow the link to create an account. The next step is to use the Android Play Store to install the BOINC app on your device. At this point it get's a little complicated so I will show you how to proceed using the following guide created by GRCPool's admin.
You can find a list of projects here that you can earn Gridcoin with. Not all boinc projects are supported by Gridcoin, so check the list before choosing a project. My personal favorite is World Community Grid. This project allows you to work on medical research projects that could one day cure cancer or AIDS or many other illnesses.
The final step is to get a wallet address to deposit your newly mined Gridcoin. This can either be through an exchange that trades Gridcoin such as Bittrex or Poloniex, or by installing the Gridcoin Wallet client on the platform of your choice. You can find the wallet for all supported platforms here.
Congratulations, you are now mining Gridcoin and supporting science.
Until next time...
