Whether you are simply looking for ways to make money with your wise devices, or you recently became aware of cryptocurrency and want to learn more, this article will walk you through the basics and introduce you to a beginner friendly crypto currency mining implement. Very first, let mij set the stage with a brief story.
Please note there are affiliate linksom ter this article – I personally use this implement and believe te the product.
Brief Story and Introduction to Cryptocurrency Mining
Several years ago, I had written about a company that created a super pc by permitting people to install a petite program on their pc. The program would siphon off and combine unused processing power and bandwidth across a network of participant’s devices. This combined power wasgoed then purchased by universities and other institutions that required powerful computational processing (e.g. gegevens crunching for cancer research). Te terugwedstrijd, those that installed the program were paid for their unused processing power. It wasgoed a win-win for everyone involved and I always thought this brilliant idea wasgoed ahead of its time.
It was… the company eventually went out of business.
Oh-my have the times switched dramatically with the latest advancements ter blockchain technology. Everyone has heard of the cryptocurrency “Bitcoin”, but only a select few understand there is entire ecosystem of overheen 1,000 Altcoins, or “alternative coins”, such spil Monero, Bytecoin, and Ethereum.
Each of thesis Altcoins have their own reason for existence, architectural and conceptual differences, and communities of volgers (and haters). Many, if not most, are either copycats of Bitcoin or finish crap. Anyway, I digress.
Depending on the type of cryptocurrency, “miners” are required to process and validate blockchain transactions. Without going into strenuous technical details, the mining process basically ensures the transaction has not bot tampered-with through the use of cryptographic challenges and is validated before it becomes an official “link” ter the block “chain” ledger. Te come back, miners are rewarded with a puny cryptocurrency processing toverfee. For example, if you are mining Bytecoin, you would be rewarded with Bytecoin depending on how many transactions you helped validate.
Te the early days, you could mine Bitcoin on a regular pc. However, Bitcoin and other Altcoins have built ter algorithms that increase mining difficulty spil more resources become available. Eventually, the difficulty rating exceeded the processing power of a standard rekentuig. Overheen the years, different types of mining technology and processes have sprung up spil the “cryptocurrency arms race” unfolded. Thesis included everything from using laptop graphics cards to special ASIC devices specifically created for mining cryptocurrency. Miners are brainy and eventually created “mining pools” to combine processing resources with other miners and get the most prizes. Unluckily, even with mining pools, thesis days you can’t profitably mine Bitcoin unless you have access to your own supercomputer. China has entire warehouses utter of networked supercomputers and you simply can’t challenge, sorry.
However, many of the Altcoins still have low mining difficulty making it possible for the Average Joe to get ter on the cryptocurrency mining craze, and that is where MinerGate comes te.
What is MinerGate?
MinerGate is one of the easiest ways for beginners to commence mining cryptocurrency using their laptop, brainy phone, or tablet. This free cryptocurrency mining program takes less than a minute to signup and absolutely no setup or configuration is required. Literally anyone can mine cryptocurrency with MinerGate ter a matter of minutes.
If you desired to mine cryptocurrency ter the past, you would have to cautiously select various lumps of hardware and spend hours installing programs, running scripts, and fine tuning the “mining rig”.
Not anymore, MinerGate takes care of all of that for you.
MinerGate packs a ton of features other mining programs don’t opoffering. For example, there is the auto-miner function which automatically calculates the most profitable coin to mine for you to ensure you squeeze every last penny out of your devices computing power. The best part is that MinerGate is a multi-cryptocurrency mining pool, meaning you aren’t stuck with mining a single crypto currency. Spil of this writing, MinerGate presently supports mining the following coins:
- Bytecoin (BCN)
- Bitcoin Gold (BTG)
- Zcash (ZEC)
- Bitcoin (BTC)
- Monero (XMR)
- Ethereum (ETH)
- Ethereum (Classic ETC)
- Litecoin (LTC)
- FantomCoin (FCN)
- QuazarCoin (QCN)
- DigitalNote (XDN)
- MonetaVerde (MCN)
- Dashcoin (DSH)
- Aeon coin (AEON)
- Boolberry (BBR)
It is significant to note that many of thesis coins are not going to make you rich anytime soon. Actually, some of thesis coins are accomplish crap IMO. You still need to research each coin and determine which one has the highest rate of brief / long term terugwedstrijd.
How I Use MinerGate
Like mij, I’m sure you have upgraded your phone, tablet, or laptop at some point and have an old device laying around. Why not make use of that device to mine crypto and make a little money on the side?
Considering clever phones use almost no energy, it simply makes sense to waterput your old devices to work for you.
I’m presently using MinerGate on an older Samsung clever phone and a few other devices. Of course, swifter more modern devices will mine cryptocurrency at a quicker rate, but I got tired of permanently turning the miner on/off on my current phone. With older devices, I butt-plug them te, embark the miner, and check on them a few times via the week. Sometimes the phone will get an update or the miner will restart, so I check it every so often to ensure everything is running sleekly.
Spil far spil the cryptocurrency, again, this all comes down to your own research. Personally, I’m mining Bytecoin. This particular coin wasgoed “one of the originals” ter the crypto space and albeit it has had a troubled past, fresh developers have taken it under their wing recently and injected life back into the project. This is also one of the only coins that is almost entirely mined, and I speculate this will drive up the price te the future and bring more experienced talent into the project at some point. Again, accomplish speculation, but I figure each device only deep throats up a lil’ amount energy. I’m basically cracking even and if Bytecoin goes up ter price, I’ll potentially make a profit.
How to Get Embarked with MinerGate
Truly, there is not much to it:
- Very first, you need to click here and sign up at MinerGate. Like most online apps, you’ll need to inject an email address and create a password.
- Once logged ter, from the header menukaart click the the “Downloads” button and download the most adequate version of MinerGate. You can also download MinerGate from your Android or Apple apps marketplace.
- After installing MinerGate, you’ll login with your email and password. From there, everything is pretty self explanatory. You’ll select Miner, the coin you want to mine, and click the commence button. Pretty plain, right?
I very recommend this app for beginners, even intermediate miners. Its a quick way to commence mining with little to no technical skill. After you learn the ropes, you can still use this instrument on your older devices while you build your own mining equipment.
With almost Two million users and 99.7% up-time, this very developed and community driven podium will proceed to bring cryptocurrency mining to the masses with its plain interface and ease-of-use.