Crypto Mining: You can still reap the benefits of the new economy by starting up a tiny cryptocurrency mining operation at home if you’re afraid of the volatility of investing in cryptocurrencies. We caution against “cloud mining” due to the large profits that have been quoted, as all crypto cloud mining offers that we have come across are scams.
What Crypto To Mine?
Mining a cryptocurrency without a huge mining setup is easy. Initially, laptops and desktops could mine Bitcoin, but the growing difficulty of mining and the advent of Bitcoin mining ASICs have made it nearly impossible to profitably mine Bitcoin at home using a PC or laptop. Crypto mining from home is still possible for other popular coins in 2023. This page will introduce several popular options and provide how-to instructions.
How To Mine Dogecoin
Before mining DOGE, get a wallet to keep your revenue. Download the Dogecoin core wallet or search the internet for alternative compatible online wallets. CPU Miner is the greatest software for mining with your CPU. This kind of mining is possible, but slow. Graphic cards accelerate mining. AMD and Nvidia cards are best (see mining rig setup below). Choosing GPU mining requires using either cgminer or cudaminer software. Find detailed instructions on mining Doge here.
Crypto mining is possible as an individual, but joining a mining pool lets you use more processing power and speed to earn more. One mining pool that supports Dogecoin is MultiPool. Binance and OKX are exchanges that trade Dogecoin after mining. For inexperienced traders, go to our post on the top crypto trading bots, which offer copy trading tools to replicate expert transactions. In October 2022, Ethereum switched to proof of stake, making mining impossible. Ethereum Classic benefited because ETH mining resources may be used to mine ETC.
How To Mine Ethereum Classic
ETC may be mined on desktops and ASICs. Find a complete list of Ethereum Classic mining resources here. HitBTC, Binance, and Huobi Global are exchanges that trade Ethereum Classic after mining. Monero (XMR) is a popular anonymous digital currency. Additionally, this altcoin network was built to resist Monero-specific ASICs. Therefore, it’s ideal for home computer mining.
How To Mine Monero
Download a wallet to store your coins. It is advised to utilize the official Monero GUI client. Next, install Monero mining software like MultiMiner. There are other online mining choices than MultiMiner, which is the easiest. Binance and Bitfinex are exchanges that trade Monero after mining. Launched in 2016, Zcash (ZEC) is a top privacy-focused digital currency. Zcash’s most crucial feature for home crypto mining is its ASIC-resistant Equihash algorithm. Thus, GPU-equipped home miners can participate.
How To Mine ZCash
Download hardware control software before mining Zcash. Install the Zcash blockchain and wallet. The blockchain must download and sync on your node, which will take time. You must also download graphics card drivers. Find detailed instructions for mining Zcash here.
Exchanges trading Zcash after mining include Binance, Huobi Global, and Bitfinex.
Ravencoin (RVN) is a blockchain network designed to transfer tokens. Ravencoin is a Bitcoin fork. A one-minute block reward time, a change in the number of coins distributed, but not the weighted distribution schedule, and asset development and messaging features are its key advantages over Bitcoin. Ravencoin is open-source.
How To Mine Ravencoin
The ASIC-resistant Ravencoin KAWPOW algorithm may be mined using a consumer GPU. More information on mining Ravencoin is accessible here. After mining, Ravencoin is traded on Binance, Huobi Global, and OKX.
The Bitcoin network was forked into Bitcoin Gold (BTG) in 2017. Since 2021, the project has not updated its website plan or Twitter feed, despite its progressive roadmap to increase Bitcoin (BTC) scalability and development potential. BTG still has a decent market value and daily trading volumes, so miners may easily find buyers.
How To Mine Bitcoin Gold
Bitcoin Gold employs Equihash-BTG, commonly known as Equihash(144,5) or Zhash, and its price swings closely match those of Bitcoin. Learn more about mining Bitcoin Gold here. After mining, Bitcoin Gold is traded on Binance, Bitfinex, HitBTC, and Huobi Global.
Horizon and its native cryptocurrency ZEN are GPU-mineable proof-of-work, equihash-based cryptocurrencies launched in 2017. The project enables real-world use cases in a safe interoperable blockchain ecosystem to protect data and privacy. ZEN, like most alt-coins, follows Bitcoin and Ethereum’s price trends. Its peak price was US$148 in December 2021. A decent market cap and liquid daily trading volume
How To Mine Zen Coin
You may find more details on ZEN mining at this link. Binance, HitBTC, and Huobi Global are among the exchanges that provide ZEN for trading once it has been mined. One other altcoin that anyone with a computer at home can mine is Bytecoin (BCN), which operates anonymously. For users of Bytecoin, Solo mining has been made simple.
How To Mine Bytecoin
Run the Bytecoin wallet on your PC to mine BCN. Create a wallet after the program syncs with Bytecoin’s blockchain. Enter begin mining and your wallet address as the receiver. Solo mining on Bytecoin is slow and may not yield anything. Join a CPU-mining pool to boost revenue. A nice example is bytecoin-pool.org. You must download appropriate mining software like xmrig.
GPUs can mine Bytecoin. GPU mining software is needed to mine this way. It takes longer to set up than CPU mining, but it mines faster. HitBTC and Poloniex are exchanges that trade Bytecoin after mining.
How To Mine Beam
To begin, download the official Desktop Wallet. Your antivirus may detect mining software as malicious, depending on your operating system. Except it from that categorization or mining will be difficult. Mining begins after the blockchain downloads and syncs. Configure your settings first. Enable “Run Local Node” and increase mining threads.
Read More: Crypto Mining Hardware: Exploring CPU’s, GPU’s, and ASIC’s
Beam’s architecture uses expiring addresses for privacy. To recover mining profits, you need a permanent address otherwise your tokens will be lost. Visit the receive page on the software’s main dashboard to set a permanent address. To mine, create a new address and set it to never expire. Trade Beam on Binance and Bitforex after mining.
How to Mine Vertcoin
Vertcoin’s POW consensus process uses Lyra2RE, an ASIC-resistant algorithm that supports GPU and CPU mining. VTC mining is easy, making it popular. The project creators designed the architecture for easy mining, thus it takes one click. Start mining by downloading the program and joining a mining pool to maximize profits. After mining, Vertcoin is traded on Bittrex and UPBit.
How To Mine Grin
To begin “GRINning”, download the blockchain from the official website to create a node. After syncing the blockchain, connect the node to your wallet. Simply run a directory file to create your wallet. After the wallet launches, configure your graphics cards. Finally, set the software to the GPU-mining Grin network, Cuckaroo POW. CPU and GPU mining are supported by Grin. If you choose GPUs, Nvidia cards are more efficient. Mining the coin requires 5.5 GB of space. Grin can be traded on Bittrex and HitBTC after mining.
How To Mine AEON
The Monero-inspired AEON project has chosen not to oppose ASICs. Windows CPUs, AMB, and Nvidia GPUs can still mine AEON. Find more information on mining AEON here. Once mined, AEON is traded on Bittrex and HitBTC.Check the current AEON pricing.
How much money can you make GPU crypto mining at home?
With Monero, Zcash, and Byte, you can mine crypto at home with a CPU, but it’s sluggish and electricity may cost more than the coins. Crypto GPU mining is a viable option for dedicated miners. GPUs like the NVIDIA GeForce RTX 3090 and 3080 are popular choices. GPUs cost $600 to $2000 or more. The price difference is due to performance. GPUs have a maximum hash rate.
GPU hash rate is the power/speed/calculation it can use to mine cryptocurrencies. Hashrate is in ‘million hashes per second’. One million hashes per second is 1MH/s. Cheap GPUs have lower rates. Desktop and laptop CPUs have thousands of hashes per second, not millions.
The hash rate and revenue calculation
The website WhatToMine provides a calculator to compare the economics of mining different cryptocurrencies to Ethereum or Bitcoin. It estimates earnings based on the hardware hash rate. Other profit-affecting factors:
The average price per kilowatt-hour in the U.S. is 16.11 cents, but prices vary greatly by state, according to EnergyBot. Idaho has the lowest kWh rate at 7.99 cents, while Hawaii has the highest at 43.18 cents. Burma has the lowest electricity prices worldwide, with numerous Arab states also offering inexpensive rates.
How to scale up GPU mining – case study
The following case study was written by a professional GPU miner. In it, they detail their real-world experience in GPU mining on a more commercial scale.
The technology set
We have 13 low-cost Intel Windows 10 PCs. Finding motherboards with 8 GPUs or more is crucial. Most use 8th/9th Gen Intel Z390 chipsets because motherboards are readily accessible on Amazon. Some systems use Celeron and some Intel i9, but mining is GPU-dependent therefore speed is immaterial. Save money by cutting corners here.
More than 8 GPUs cause Windows instability. Windows lets us remote-connect to each rig on our phones with Chrome. Running anything greater requires Linux and is unrecommended for stability. All open-frame rigs use 120mm cooling fans. GPUs will thermal throttle without cooling or a case.
The profitability equation
Ethereum is the most profitable Crypto to mine per watt. Eight AMD RX580s make $20 per day before electricity for a cheap rig. I suggested 8 AMD 5700 XTs because they use the same electricity as RX580s but make 30% more. In a bad market, electricity is your biggest challenge. It’s irrelevant in a bull market. The aforementioned rigs use $4 per day in power. With 13 computers running, we made $500 a month in a bear market. The same 13 machines have made up to $17,000 a month in the bull market, so power is not an issue. Scaling and heat plague electricity. The 1000-watt rigs are space heaters. If you use more rigs, you may require extra cooling depending on your area and goals.
Since large-scale mining dominates crypto mining, at-home miners struggle. Crypto mining income can still be made in 2023 by selecting the most profitable coins and using the latest, most efficient mining technology.
Read More: Btccryptic.com
