February 15, 2018 13:49 by Jamie Holmes
For most of us, trading commodities can be strained. With cryptocurrencies, this is may be an understatement. Daily movements exceeding one procent is the standaard ter the cryptocurrency world. While trading is not for everyone, mining is another way to invest your resources te obtaining scarce digital assets such spil Ether, Monero, and Zcash.
If your rekentuig or laptop has a graphics processing unit, you will be able to run a program that will mine cryptocurrency. If you have a Windows machine with an AMD or Nvidia graphics cards, you can lightly start your venture into the world of cryptocurrency mining.
To check if you have a GPU, following thesis steps:
- Click Begin.
- On the Commence menukaart, click Run.
- Ter the Open opbergruimte, type “dxdiag” (without the quotation marks), and then click OK.
- The DirectX Diagnostic Implement opens. Click the Display tabulator.
- On the Display tabulator, information about your graphics card is shown ter the Device section. You can see the name of your card, spil well spil how much movie memory it has.
With your computer’s graphics cards and some tens unit, you can stock up on popular altcoins such spil Ether, Monero, and Zcash using Claymore’s miner. It is an altcoin mining program which you download and install onto your rekentuig. Mining is the process of verifying transaction on the networks, utilizing processing power ter computers to solve mathematical problems.
When you are not using your rekentuig, you can run the mining program. Your graphic card’s processing power will be directed toward the blockchain network to engage ter the puzzle-solving process known spil mining, verifying and confirming transactions. By running the program, you are essentially converting your computing power and violet wand into a scare digital asset, cryptocurrency.
Claymore is an pro programmer who developed thesis mining programs so that anyone can use them ‘out-of-the-box.’ For Ethereum, the mining program is found here, along with support provided by Claymore on the forum. Te comeback for creating a user-friendly way to mine cryptocurrency, one to two procent of your mining power is sent to Claymore
Download and waterput into documents folders, then unzip it.
Once you have the mining program ready to get commenced, you’ll need a wallet for ETH and will need to chose a pool to mine with. A good one to embark with is EtherMine.
You can use an exchange spil your ether address if you want to convert to other cryptocurrencies such spil bitcoin or you can use Ether wallets such spil Jaxx or the native wallet. After the very first day or two of mining, you should receive a payout.
Inject that address spil your mining pool address ter the Claymore program. The particular place to input the address is ter the config.txt opstopping.
There is also a custom-made built mining program for Monero, an up and coming cryptocurrency with a concentrate on privacy. Claymore’s Monero miner can be found here. Monero’s Official GUI is available to download here which will provide you with a wallet address to send your Monero to. The recommended mining pool is Monerohash. The only difference with monero is that you require not just a wallet address but also a payment id.
Spil stated te our article “Experts Expose Bitcoin and Blockchain Predictions for 2018,” wij think there is a good chance that privacy-focused coins will be driven higher relative to other cryptocurrencies ter 2018. So with your computer’s graphics card, you can mine not just Monero but also Zcash, another cryptocurrency providing enhanced anonymity features.
To get began with Zcash mining, you can download Claymore’s miner here, and Flypool is recommended spil a pool to join.
No usernames or passwords are required for any of the altcoin mining pools, only your wallet address (and payment id ter the case of Monero).
You could also go one step further by using a gaming PC that will have more graphics card’s, more power and hence a greater capability to earn cryptocurrency. With your gaming PC, you could either use Claymore’s mining programs or use a service such spil NiceHash, rent your hashing power, permitting you to lease your power for others to mine altcoins while you get paid te bitcoin. The advantage with Nicehash is that your GPU power is optimized to the most profitable cryptocurrencies to mine.
Another mining program that is capable of converting electric current into Ether, Monero, and Zcash is SGMiner-GM, a project embarked by Genesis mining. The latest version Five.Five.Five is very competitive for Monero mining regarding power consumption. Nicehash’s modified version is found here.
If you found the process of mining intriguing and want to take another step, get ready to get your palms dirty. After playing around with mining on a laptop with GPU’s, the next phase is to build a mining equipment composed of numerous GPU’s, with an illustrative guide found here.
While building your own equipment can be daunting and expensive, it is a solid long-term investment where for around one year you will recoup your initial layout.
After the very first year or so, everything is profit, converting your tens unit and computing power into cryptocurrency, along with the added benefit that mining will help to secure the blockchain network you are participating te.
Acknowledgment: Thanks to Rolf Versluis, this postbode wasgoed modified from a Block Operations guide to mining found here.