Bitcoin mining app: even a fast phone would need 20 million years to find one block

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.A bitcoin mining app does not turn your smartphone into a miner: even with generously assumed performance, a phone earns around 0.00003 euros a day. We run the numbers, explain the app store rules and show where payouts from such apps really come from.A smartphone can display bitcoin, but it cannot mine it profitably. Illustrative image, AI-generatedAdd as a preferred source on GoogleFollow on Google NewsA bitcoin mining app on a smartphone does not mine any bitcoin worth having. Even if your phone could compute one billion hashes per second, which no phone can, at the current difficulty it would earn around 0.00003 euros a day and need just over 20 million years on average to find a single block. That is why Apple does not allow mining on the iPhone at all, and Google banished such apps from the Play Store in 2018. If an app still shows you payouts, they come from somewhere else: from rented computing power in a data centre, from advertising revenue, or from a points system tha...