Everyone likes to make extra money; so who wouldn’t like to install a browser plugin and let it work to mine cryptocurrency for you while you are using your browser? If you use Google Chrome, you’re in luck. CryptoTab is a free download that you install into Chrome and it claims to mine cryptocurrency in the background while you work. When you have enough bitcoin in your account, you can simply cash out. If you are worried about the amount of processor power CryptoTab is using, you can adjust it from low, normal or high.
There is also a referral program where anyone you refer who installs the plugin and uses the service will generate a portion of their coin traffic to you for referring them. I am intrigued by people who build their own mining rigs and seem to be making lots of money each month mining. I have not invested the funds needed yet to build my own rigs, but this MAY be a way to get into the mining market in a small way without any additional hardware expense, of course your electric bill may go up. I am going to run the tab for a few weeks and see what kind of results I get. If you want to try out CryptoTab, please use my referral link. Thank you.
Here is some info about the mining process from CryptoTab:
About The Process –
Everyone wants to mine cryptocurrency, but when most people mine Bitcoin, it isn’t too profitable for them.
Monero coins are mined by CryptoTab and then exchanged to Bitcoins daily and accrued to your wallet. We unite all users into one big mining pool, so it allows us to solve bigger blocks all together and thereby increase the common earning. The larger the pool is, the higher income of each member. Therefore, the process is built so that you get more income in the world’s most popular cryptocurrency.
How can I increase my Bitcoin earning speed?
The best way to earn more Bitcoins is to invite as many friends as possible by your personal link and motivate them to lead their friends. The bigger referral network you develop, the more income you will get, and it will grow exponentially. Our referral network includes up to 10 levels of friends.
If you have any questions about Bitcoin or mining, please let me know.
Grant,
For context, I am a computer scientist. It is well understood that mining on a computer is unprofitable – the power spent on any computation will cost you more than the fractional Bitcoin you get from the network. You are competing against ASIC miners with dedicated GPUs that will crush you.
I have no idea how this extension has so many positive reviews. This is basically a MLM scheme – get a ton of people using their extension, and toss out a few satoshis (fractional bitcoins) to people who mine. For 99.99% of people, this won’t generate anything meaningful unless you become a referral engine. Furthermore, it’s dangerous to allow a 3P to run arbitrary scripts and computation on your browser, because they could turn malicious, or get hacked and try to take over browsers, etc.
I know you have good intentions here, but the math doesn’t make sense, and this is not going to help your readers.
I appreciate the feedback. This post is from Shane, but this is my first time dabbling with Bitcoin so I am a super noob, if there ever was one. I honestly don’t know what I am doing. If there are any Bitcoin power users reading this, what do you think of this extension? Is it worth your time (and CPU power) to run this extension or am I just wasting my time?
@Rowyourboat hit it on the head. Not profitable at best, malicious software at worst. Hard pass.
Definitely good advice.
Hi Larry, I assumed this was an exercise in learning vs really making $. Most of us don’t know the math. We’re not competing with the large farms but rather seeing if we can get anything that resembles a return. At best it looks lousy. The concept however is nice.
+1 Row. Glad you already covered the basics. Sounds more like a plug-in aimed to run data mining scripts (not so much crypto mining)… and, funny placement (target) on an email newsletter aimed to those who likely do a lot of online CC banking/financials.
Instead of using this add-on, for educational purposes or illustration, try an add-on like uBlock Origin, uMatrix, or NoScripts, if you want to see the power of “seemingly” innocuous browser scripts.
Or, let’s say this mining add-on is legit (unlikely)… but if legit, Id say after you’re drooling over all your hard-earned satoshis, maybe planning that trip to Fiji -boom, you have a NiceHash type hack and the add-on’s founders will be in Fiji, not you. Just my $0.02.
Row had this covered. Stay Away.
You’re not competing with ASICs, it doesn’t mine bitcoin, it pays you in bitcoin. (ASICs also don’t have GPUs, the ASIC itself is what does the processing.) Sure it doesn’t pay much, because CPU mining doesn’t pay much. I’ve done CPU mining many different ways, and unless you’re running more than 10 cores, this works just fine and from my testing it pays about the same amount. (I hate chrome, so I don’t use it for browsing, just mining.) Whether it’s worth it depends on your electricity costs, just like any other mining. The benefit with this is that you don’t have to set up mining software and switch which coin to mine manually as the difficulty and payout changes over time. (Also, there’s is no additional fee for withdrawls like there is for similar concepts like nicehash, honeyminer, and cudominer.) This does however only mine using your CPU, so the claims of “1 btc per month” are beyond ridiculous. (For that you would need to invite about a MILLION people)
I have no idea about the comments about the integrity of the app, but I’m confused about the comment about it being unprofitable. What are the additional expenses involved if the app is utilizing unused computing power. I don’t think most people pay per use for their home internet- most are probably on unlimited plans. So are you saying there would be a noticeable increase in electricity usage?
No such thing as a free lunch in this day and age, i was going to add it but now am not so sure thanks for the info and advice guys
Hell i have delated yandex by mistake on my phone i hv lost my crypto account how can i retrive it back please help me
I was given a bitcoins worth 5000dollars and I was using I discovered it started reducing and I stopped for a week now I can see d bitcoins again I can see zero in my wallet any body to explain.
Can I mine on cryptotab without referring anyone
Yes, I think so, you just earn at a lower rate.
This CryptoTab browser will increase electricity cost during minining Bitcoin?
Yes, most likely.