Is Crypto Mining Illegal? An Expert's Perspective

The legality of crypto mining is highly dependent on the geographical location of the miner. Bitcoin, and other cryptocurrencies, have the potential to disrupt the dominance of fiat currencies and government control over financial markets. As a result, some countries have made Bitcoin and other cryptocurrencies completely illegal. Outside of these countries, both the use of Bitcoin and the mining of it are perfectly legal.

Mining Bitcoin requires specialized hardware and technological knowledge to examine cryptocurrency databases with ease. Before investing in mining equipment, it is important to research your country's regulations and general sentiment towards cryptocurrencies. Crypto miners are often stealthy in order to mine as much cryptocurrency as possible without being detected. Mining is attractive to many investors due to the rewards they receive for their work with crypto tokens.

Modifications can be made to the code of a crypto mining application to mine a new token or adapt to new systems. CoinDesk reporters have traveled across Europe, Asia, and North America to capture the diversity of cryptocurrency mining. If you want to reap the rewards of Bitcoin without the upfront cost of mining hardware, you could consider investing in Bitcoin or putting money into an interest-bearing cryptocurrency account instead. Companies that manufacture equipment used for Bitcoin mining are also a great way to invest in cryptocurrency.

If you want to estimate the amount of Bitcoin you could mine with the hash rate of your mining platform, CryptoCompare offers a useful calculator.

Shelly Riechman
Shelly Riechman

Infuriatingly humble music junkie. Award-winning student. Wannabe zombie aficionado. Hipster-friendly troublemaker. Social media enthusiast.