How to start mining cryptocurrency?

mining How to start mining cryptocurrency?.

How to start mining cryptocurrency?. = So you invested and collected the farm, but how to start the mine? The farm has little to build, it must be set up so that everything is not in vain, and that from it there was any profit. So, how do you configure the bitcoins mining? Or another currency that you are willing to mock?

How do I set up a farm? Probably the most basic for mining is a video card. Of course, this should be at least one, but ideally – six, and connect them through a riser, as you know. The map should be modern, that is, it should be 3-4 years old by force, not more. Naturally, not budgetary. And the card depends on the currency, which we will mine. For example, on NVidia it is still better to mine ZCash (ZCash classic). On AMD – Etherium is more profitable.

Then – the system block / farm with the installed 64-bit Windows OS 10, and we do not consider the exotic variant with Ubuntu. We emphasize that we need a 64-bit operating system, since 32-bit is already the last century.

The power supply or two parallel sufficient power – where without them. Blocks must be reliable, it should not be Chinese consumer goods. Remember: if you invest a little more in hardware, then you can work on it for a bit longer. Of course, we do not need internet gigabit, but a good ping is very desirable. Therefore, ideally it should be wired, but also with Wi-Fi, too, there will be no special losses. The main task is to make it stable. Not speed is important, but stability – remember this.

As for those little things that are also important when choosing a conventional computer, in this case they are tertiary. RAM is 4 GB – that is, a reasonable minimum for the operation of the operating system. Hard disk – recommended SSD (on SATA), and a small size – 60-128 GB more than enough. After we figured out the hardware, let’s take a program.

How to start mining cryptocurrency? Pool

Pool

To begin with, you need to select a pool where you will mine your currency. It is clear that if you are a lonely proud bird who wants to loot alone, then you do not need a pool. True, you will need a huge amount of expensive and super-powerful equipment, but this is the details, because you do not even need to read this article.

And for those who are not billionaire, we will say that it is more reasonable to join the so-called pool (where 99% of the miners are located), because the more participants in it, the higher its productivity and speed. And this, we note, applies not only to bitcoins, but also to other crypto-currencies. A pool is actually a server that distributes tasks between its members. As soon as someone hits the target, a block is formed and the participants receive a reward.

The minuses are clear here – you will have to share the reward with all members of the pool. And then the share of each depends on the power of its equipment. It is important that the power does not exceed 51% of the power of the entire network.

What now to choose pools? There are several of them, there are both large and small ones. Large offer more regular payments, but the size of the pool is small. Small pools assume less frequent, but larger payments, and their size will be larger. And do not forget about the commission: someone does not have it, someone can have a share of 3%.

From personal recommendations:

A separate point here is the services of cloud mining, using the total capacity within the closed pool, which allows you to have maximum autonomy and yet not lose profits.

Have you chosen a pool? Perfectly. Then you need to select the program-miner.

How to start mining cryptocurrency? nicehash miner

Program-Miner

And now let’s talk about special programs. The choice and correct setting depends on how much you can earn at all. Pay attention to what kind of crypto currency it supports. On how complicated authorization is. Is there a portable version that you can carry with you on a flash drive (to whom it is actual). Whether the configuration files are saved as a separate file. Is the program reliable in general and stable?

Our recommendations:

Bminer (Equihash): Bminer 15.7.6 Download and Configure(Откроется в новой вкладке браузера)

Claymore s gpu dual miner etherium AMD NVIDIA: https://crazy-mining.org/en/mining/claymore-dual-v15-0-amd-nvidia-gpu-miner-download-for-windows-linux/

Claymore s CryptoNote AMD: https://crazy-mining.org/en/mining/claymore-11-2-cryptonote-amd-gpu-miner-download-and-configure/

NiceHashMiner can also be called a universal program: it allows you to use for this good cause both the processor and the graphics card, and even chooses the most profitable algorithm for this particular moment.

The settings of the miners, that is, those that allow editing with a separate text file, the more advanced miners usually spread on the Web, so if you google it can be found easily.

We also advise you to pay attention to the following cryptocurrency miners, everyone has excellent characteristics and their advantages:

Selecting a cryptocurrency for mining

In general, everything really depends on the equipment. Mine bitcoins with video cards to date (early 2018) is no longer possible (too large ASIC-resources for this are involved), but you can mine the “ether” and other altkoins, for this there is still all the possibilities. Ethereum, Zcash, Ripple, Litecoin, Dash, Monero, Cardano, Iota – currencies now more than a thousand (although they are still tied to bitcoin), we wrote the most popular ones, so you need to choose a specific currency, based on that , how much you are willing to spend on equipment. In doing so, do not forget that mining your iron is easy to “knock off” just on the swing, so again – again weigh all the economic components of the equation.

Choose a stock exchange / purse for mining crypto currency

The last thing you need to do is choose a stock exchange / purse where money will be dribbling and accumulating, and you also need to choose the services where you can transfer the earned virtual money into real rubles and display it on the card.

At the same time, one must first bear in mind that this is a sphere that at the moment is regulated slightly more than it does (in other words, in Russia, other countries have already “stirred” on this topic), exchanges are decentralized and concentrate in themselves significant of the mass of the crypto currency in circulation.

But, in fact, the exchange is crypto-currency and there is an ordinary exchange, only a crypto-currency (pun): a resource on which one crypto currency is changed to another, or to the fiat money (in other words – ordinary money, this or that world currency) and vice versa, however It’s not possible to change everything on every exchange. Exchange of one crypto currency for another is possible if there is a corresponding pair on the exchange: for example, if you see that there is an exchange of a pair of BTC / LTC, then it means that you can exchange bitcoin for lightcoin. Each exchange functions by its own rules, but there are common: for example, registration on them is the same as on regular sites.

The most quivering part is the crediting of the crypto currency for trade or exchange, which, as a rule, takes place for free, but for entering the fiat money, most likely, you need to pay a commission that is in the region of 1-5%. The size of the commission varies from the chosen way of input of means.

Finally, you, that is, the user, create an order (application) for the purchase or sale of currency, setting the desired price and start bidding by placing your application in the general list. If luck today is on your side, then there is a buyer, the deal is being made, and you are loudly rejoicing at the profit, and if you acted like the heroine of the joke (“Grandma, why do you have sunflower seeds of 500 rubles, and all have 5?”, “Yes, I , dear, I like money very much. “), the buyer may not be found. Also, the buyer can stay in your dreams if you have chosen an unpopular crypto currency, and now it’s just that nobody needs it.

After that, if the amount is sufficient for withdrawal in this particular exchange, you can withdraw them from the stock exchange or leave them in your wallet for other transactions. How to choose a specific exchange? They are very different in the presence of specific crypto-currencies in principle, the possibility of withdrawing one or currency, the possibility of input / output of fiat money (some do not have such an option at all), commission, ways to protect the account and user data, withdrawal methods, trade volumes and additional ” buns “(keeping statistics, charging interest, referral programs, the availability of mobile applications, etc.). And, of course, a reputation that you can earn a long time and lose overnight.

If to speak in detail, the list of exchanges is quite numerous: Bitfinex (bitfinex.com), Bittrex (bittrex.com), Poloniex (poloniex.com), Gdax (gdax.com), Kraken (kraken.com), Bitstamp (bitstamp. net), Bitfinex (bitfinex.com), Exmo (exmo.com), Cex (cex.io), Livecoin (livecoin.net), YoBit (yobit.net), thousands of them!

He said: “Let’s go!”

Actually, on this short description can be considered complete. As you can see, the process of mining a crypto-currency is rather complicated and expensive, and the questions from the series “what can I blame money on my laptop?” Is similar to the questions in the series “but let’s go out and try to sell snow in winter”. Of course, with the proper talents, you can get it, but seriously engage in mining today – a thing that is quite expensive and requires not only financial but also serious investments in time. Actually, like the usual financial processes that end with trading.

Evaluate your capabilities and understand whether costs are worthwhile, including very rapid wear and tear of equipment and waste of large amounts of electricity, the profit that you will get. Of course, if you have several free millions, then there is still a sense today – but in this case this article will be just one of many that you read on the way to the cherished symbol. In general, think. And try it if you decide.

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