Web Mining – Different ways to Monetize Your Website through Coinhive
If you are looking to mine some bitcoins using your website, then CoinHive and Monero are currently the most powerful systems that offer browser-based mining facilities. let’s start to earn money with the browser-based miner on your website but before that, it is important to understand the concept behind coinhive and how its web mining functions.
Basically, Coinhive is a monero XMR miner which makes use of user’s web browsers to mine cryptocurrencies when they visit certain websites. Even top torrent website, the pirate bay and CBS’s Showtime have been reportedly making use of Coinhive to earn revenue by bitcoin mining. So why are big websites using this platform to generate revenue? Is it that profitable? Let us understand the working of coinhive to know this concept in a better way.
Web mining modes of Coinhive
- The platform works as a proof-of-work captcha which can perform a set number of hashes or it can be a continuous process of mining. This is not a regular captcha and cannot distinguish humans from bots. But it can perform rate-limiting actions and is a great countermeasure for spam. Bots will not target these websites as the cost of mining is more than the reward for spamming.
- It works as an automatic proof of work short link that uses the cnhv.co prefix for redirection. The redirection time is determined by the number of hashes that are required. It also depends upon the CPU power of the user. You can earn cryptocurrency by sharing short links.
- Another way of working of Coinhive is a continuous mining process and is optimal for high traffic websites on which users spend a lot of time. It includes websites that offer browsing content, watching videos, games, or news and articles. The flexible code of Coinhive allows for an unlimited website to use the script creatively to earn money from their website.
Web mining using the browser of visitor – Currently, the most popular form of crypto mining is the third one which is continual mining also known as browser-based web mining. You can earn good amount of XMR using this technique. You can also customize the usage of CPU of your user in the settings. So if you have a website of your own then let’s start to earn money with browser-based miner on your website.