The second most popular digital coin after Bitcoins is Ethereum. The main reason of its success is hidden in high price per coin and in the mining community support. As a rule, this cryptocurrency is perceived as the digital asset because it is the inflation coin.
This article will explain how to start the mining process, mention the procedure difficulties and equipment you can use to make it real.
They mine Ethereum on devices called mining farms, and also on ASIC and in clouds. Most frequently, the currency is mined with the first method. Points to start with:
Before you start mining, it is recommended to calculate the profitability using calculators.
As we mentioned earlier, it is impossible to mine ethereum alone. To mine currency, users unite into special communities they call pools. The need to create such unions appeared because of the algorithms serving as basic ones for Ethereum mining. Such algorithms cut the possibility for someone to earn alone, so miners are made to unite with each other.
When choosing the pool, you should keep up with some important points:
It is critical to understand that the choice of the right pool will have positive impact on profits. Here are pools with good reputation: Nanopool and Ethermine.
To start mining money, you need to get “armed” with specialized equipment. To start mining you’ll need GPU’s most suitable for Ethereum:
You should build a farm on them consistent of: 1-19 video cards with at least 4 gigabytes of memory, RAM, a motherboard, a CPU, risers, a power supply unit, and an SSD or HDD drive.
The most effective Ethereum mining is possible with video cards having fast graphics memory. The algorithm is the following:
To track the currency mining process, you need to enter the pool and provide the storage number. 10-15 minutes after the stats update, you’ll see first Ethereum mining steps.
To mine on a processor, you should get quite powerful hardware exemplars, because mining with low-performance CPUs is senseless. Your power consumption expenses will be higher that incomes from such mining. All you need to start is to set the new processor into a PC and go through these steps:
If the settings were done correctly, you’ll start earning money instantly. It is also possible to track all transactions via the console or the pool website by logging into your profile.
You should also remember that because software to store cryptocurrency is installed to your PC drive, there is the need to have enough free disc space on it.
Summing everything said above, you understand that every Internet user has the possibility to organize mining process at home with video cards or CPU’s. However, the difficulty with Ethereum mining is that the cryptocurrency field gets improved and updated with every year. So, you should keep an eye on all tech market innovations carefully and attentively to get stable incomes.