monero mining equipment

best monero (xmr) mining hardware to use in 2021

best monero (xmr) mining hardware to use in 2021

Standing among the best-known anonymous cryptocurrencies on the market, Monero (XMR) has been enabling secure and reliable transactions since 2014. As of April 27, 2020, the XMR cryptocurrency ranks 14th in terms of market capitalization which makes Monero a desirable asset to have in the crypto portfolio in 2020.

There are several ways to obtain XMR you can either exchange your crypto to Monero, buy XMR at an exchange, or, like a passionate blockchain enthusiast, mine it. Weve investigated Monero mining hardware to provide you with the best ones.

In late November 2019, the Monero blockchain hard forked and switched its core hashing algorithm, CryptoNightR, to a new Application-Specific Integrated Circuits (ASIC) resistant, RandomX. The team behind Monero claimed that such a transition would make the XMR mining more secure, thus eliminating any fraudulent interference to the Monero network. Unlike the relatively simple CryptoNightR hashing algorithm, RandomX is a more complicated type of a Proof-of-Work (PoW) consensus algorithm.

So, from that aspect, I really like that RandomX is the thing and that it is CPU heavy [] I like the fact that we went towards RandomX, the only thing I dont like is how complex it is because its very difficult to understand kind of everything going on, said the lead Monero maintainer, Alexander Snipa Blair.

Despite the communitys fears that the new algorithm might kill GPU mining, RandomX is optimized for GPUs and CPUs mining. However, GPU mining shows less performance and efficiency when working with RandomX. GPU XMR mining might seem less profitable than the CPU one.

AMD is considered to be one of the best high-performance computing and graphics solution provider on the market. EPYC 7742 has 64 CPU cores and power consumption of 225w. This is a truly powerful machine hence, the price for such an advanced processor corresponds to the quality.

This mining rig will be a nice purchase in case your electricity bills are way too high. In combination with a solid memory, AMD Ryzen 5 3600 with 6 CPU cores will be a great solution for profitable Monero (XMR) mining.

This graphics card will allow you to mine multiple coins of different algorithms including RandomX (XMR), Ethash (ETH, ETC), Cuckaroom29 (GRIN). Despite being a veteran of the industry, Radeon RX Vega still can show better results than other GPUs on the market.

As mentioned above, Monero GPU mining is not as profitable as XMR CPU mining, yet NVIDIA provides the industry with top-notch graphics cards for mining to be smooth. GTX 1070 Ti is applicable not only for XMR mining but also allows for ETH, ETC mining.

Monero mining is not as difficult as might seem at first glance. However, before start mining XRM, do your own research on the basic features regarding mining in general and Monero mining in particular. The best way to get into XMR is to study Monero in specialized communities like Telegram groups and Reddit channels.

Changelly is a secure instant crypto exchange that has 150+ cryptocurrencies available to be swapped and bought at market-best rates. Operating since 2015, the platform and its mobile application attract over a million visitors monthly, who all enjoy quick and simple exchanges, low transparent fees, and 24/7 live support.

how to mine monero: your complete guide

how to mine monero: your complete guide

Its time to explore the most controversial privacy-focused coin there is. Not so long ago, Monero was in the Top 10 of cryptocurrencies by market capitalization, and regularly made headlines for all the wrong reasons. Nowadays, the project has fallen behind the new kids on the block and its not a main topic of conversation in the blockchain world. Which might be a good thing, considering youre reading up on how to mine Monero.

Binance is the exchange to use if youre new to the world of cryptocurrency. Its intuitive, easy to use, and supports all the most popular cryptocurrencies. It makes buying, selling, and trading simple and even the most novice users will enjoy the pleasant user interface Binance has to offer.

One of the most popular sites to get started with crypto is Coinbase. This well-known wallet not only lets you buy, sell, and trade coins but also lets you earn more through short videos and courses. Its a solid option for anyone new to the world of cryptocurrencies.

If you dont want to mess around with software wallets, you should check out the Ledger Nano S. This affordable hardware wallet is a great way to keep your coins safe and secure. With support for nearly every coin on the market, its tough to go wrong with the Nano S.

Bear in mind that this is a hot wallet, and those are considered the least secure ones. OnMoneros website, they recommend Monerujo for Android, MyMonero for iOS, and Edge and Cake wallet for both operative systems.

There are, of course, disadvantages to this process. Youll not be independent or anonymous. On the other hand, you could start right away, no setup necessary. You could have skipped this guide altogether.

A serial entrepreneur working primarily with digital assets. He's the CEO of Sharp Capital, a company that focuses on growing online businesses. Andrej is also huge crypto, chess, and CrossFit enthusiast.

monero mining rig 5000h/s - reviews & features

monero mining rig 5000h/s - reviews & features

The 5000 H/s Monero Mining Rig is provided by MineShop.It holds 6 AMD graphic cards, the AMD RX 570. Thesemining rigs are specially developed and reconfigured for cryptocurrency mining. With this mining rig you will mine at 5000H/s.

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mining equipment | ant miner

mining equipment | ant miner

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latest mining equipment for bitcoin, ethereum, bitcoin cash, monero and eos - coinnounce

latest mining equipment for bitcoin, ethereum, bitcoin cash, monero and eos - coinnounce

Cryptocurrency mining is one of the domains which has emerged as a result of the cryptocurrency boom after the inception of Bitcoin. We already know that Bitcoin mining has become highly exhaustive and nonprofitable. Therefore, the Altcoins have taken over the mining industry as mining operations are essential to maintaining stability and consensus among the community members of a blockchain project. In a nutshell, the mining operations are done basically, to avoid centralization of the power in the hands of few, regarding the developments in the blockchain.

Bitmain Antminer S9 is the first and the foremost equipment which comes to mind when it comes to the Bitcoin mining. Developed by between it is the flagship mining equipment of the company with the price being around $3,500 with hashrate 13.5 TH/s. Some of the other popular Bitcoin mining rigs available in the market are Bitmain Antminer S7, Canaan AvalonMiner 741, Block C Avalon6, Gekkoscience 2-PAK USB Bitcoin Miner, etc. with the hash rates being 4.73 TH/s, 7.3 TH/s, 3.5 TH/s, 15 GH/s respectively. The last one is relatively tiny in size and also gives more output.

The Ethereum network, unlike Bitcoin, incorporates the Ethash algorithm for its consensus. The extensiveness is not that much when compared to Bitcoin, and the mining process is possible through the usage of Graphics Processor Units or GPU. AMD and Nvidia are 2 of the most prominent competitors in the industry, which provide the GPU for Ethereum mining. Some of them are AMD RX 470/570, AMD RX 480/580, AMD Radeon RX Vega series, etc. belonging to the AMD family and price ranging from $250 to $1200. The Nvidia GPU cards are GTX 1070, GTX 1080ti with price ranging from $550 to $1200.

Even Bitcoin Cash was easily affordable to mine through the usage of CPU and GPUs but, as the Mining industry has escalated due to competition, the ASIC miners have become inevitable very similar to the Bitcoin network. Also one of the most popular ones for Bitcoin cash mining is the Halong Mining DragonMint 16T with 16 TH/s of hash rate. Antminer S9 and S7 are the other two most prominent Bitcoin Cash mining equipment in the market. However, the DragonMint ASIC miner is the most powerful one when it comes to Bitcoin Cash mining, as its near competitor Antminer S9 entails only 14TH/s.

The privacy-focused cryptocurrency coin requires the mining operations too, as it uses the Cryptonote algorithm. The most famed equipment in the field is GPU Miner P 102-100, Canaan Avalon Miner 841, etc. It must also be noted that the cryptocurrency coin uses a relatively more comfortable algorithm and hence the users are enabled to undertake mining operations through their standard PCs as well. It must be noted that there are no dedicated ASIC miners developed for Monero mining, but the mining rigs used for Bitcoin or Ethereum is incorporated for Monero mining operations.

The most famous Ethereum competitor, EOS in the list but there are no mining equipment in this case, as the cryptocurrency project is designed in such a way that it requires no mining operations. The Delegated Proof of Stake consensus mechanism is applicable, only to the some of the dedicated block producers of the EOS blockchain platform. The block producers are also indirectly voted by the community members, who utilize their computational power to generate Blocks. They accordingly get rewarded with the EOS tokens.

The extensive mining operations are currently proving to be very hazardous to the environment, as they eat up Electrical energy equivalent to the amount of Electricity consumed by an entire nation. If a similar trend continues, then the reason for the development of Cryptocurrencies would be violated on a constitutional basis. One of the most significant technological innovation, which was assumed to be a savior from the Centralised banks, would turn into an unaffordable piece of technology.

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buy cryptocurrency mining equipment miners depo

buy cryptocurrency mining equipment miners depo

At the beginning, most miners used their own CPU for coin mining, but very quickly this was not enough to mine in quantity. Miners then moved to using their Graphic Cards GPUs because they were able to hash data up to 100 times faster and consumed much less power per unit of work.

A reliable cryptocurrency mining equipment is important. Let us help you find the best ASIC miner. In our big and diverse coin mining shop, you will find anything from Grin, Monero, Zcash and SiaCoin miners to Dash, Ethereum, Decred and Bitcoin mining hardware. There is something for everyone.

We know that each miner has his own needs in terms of GPU quality and power. Many of the existing cryptocurrency mining hardware is very expensive with no better quality than the standards. Thats why we offer you a cheap mining hardware shop and high quality products. Wait no longer and buy your cryptocurrency mining machine now! Check out our SHOP and compare our bitcoin mining hardware!

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how to mine monero | coinmarketcap

how to mine monero | coinmarketcap

Monero (XMR) is a controversial privacy coin which despite increasing regulatory pressure on exchanges remains among the top 20 coins in the cryptocurrency industry. Currently, the cryptocurrency has a market capitalization of over $2 billion.

Notably, XMR developers are working hard to maintain and improve the networks decentralization by keeping specialized machines such as application-specific integrated circuits (ASICs) away from the mining scene. As such, more people can fairly share the coin's over 17 million total supply. Monero's previous use of the CryptNight hashing algorithm was replaced in November 2019, when a scheduled upgrade introduced RandomX, which is a PoW algorithm that also discourages the development of ASICs. RandomX also began to penalize Monero miners that used GPUs, which means that CPU mining is now the best way to mine Monero.

Monero mining is the process of verifying transactions on the cryptocurrencys blockchain to earn rewards in the form of XMR coins. You should note that the cryptocurrency works similarly to Bitcoin, except that it is more bent on facilitating private transactions.

Unlike Bitcoin, which has a fixed supply of 21 million coins, the privacy-centric coin doesn't have a similar hard cap. Instead, it is set up in a way that if the miners discover all the allocated 18.132 million tokens, then a tail emission will begin generating 0.6 XMR rewards infinitely, starting in May 2022. This keeps the miners motivated after depleting the total supply.

Mining is a business; therefore, the profitability of mining Monero should come into play before you even think of acquiring the necessary equipment. A key factor that adds to the profitability of XMR miners is that the process doesn't require pricey heavy-duty gizmos like in Bitcoin. With even a simple CPU, or GPU, you are good to go.

Mining is a time-based competition. Therefore, the higher the device's processing speed, the luckier and merrier the mining process would be. And as stated earlier, Monero uses the same consensus mechanism as Bitcoin, albeit with a different hashing algorithm.

To elaborate, BTC uses the SHA-256, while Monero uses RandomX The two hashing algorithms cause the difference in supported mining devices. Although ASIC manufacturers have made many attempts to take a stab at the privacy-focused cryptocurrency, the XRM team has managed to iterate anti-ASIC upgrades enough times to keep these devices at bay.

Why chase ASICs away? Due to their cost, only a select few can afford them, leading to the centralization of miners hence, overriding the decentralization vision of the crypto community in the Monero developers eyes.

Also, it can mean the Monero mining software we've discussed in the previous section. In this article, let's use the first meaning in the list. To mine XMR, you need to turn your general mining hardware into a Monero mining rig.

Monero mining software is an application that helps you connect your mining hardware with the coins blockchain or pool. Different CPUs support different mining software. Note that using non-compatible software means that CPUs would be roaring, but with no rewards.

A solo miner is a miner who directly interacts with the blockchain. A solo miners single most significant advantage is that the miner gets to keep all the block rewards. Unfortunately, solo miners may not be able to win rewards as frequently as mining pools do.

An XMR mining pool comprises individual rig owners who combine their rigs' power to increase their chances of finding new blocks in the Monero blockchain. Block rewards go to those who contributed mining power towards finding a particular block.

Most XRM mining pools charge a fee between 0% and 2%. Some popular Monero mining pools are MineXMR, SupportXMR, Unipool and XMRNanopool. Apart from verifying transactions faster than going solo, joining an XMR mining pool means that the rewards are mostly stable.

However, using a Monero pool means that you're responsible for maintaining the hardware, internet connection and paying electricity bills. Note that choosing a reputable pool is ideal because while you may be providing your hash power to a pool, a disreputable pool may fail to maintain its connection to the Monero blockchain.

Monero cloud mining is considered financially viable if you're not a solo miner or a fan of a mining pool. Reputable XMR cloud mining service providers include Minergate and CCGMining. One way to spot a shady cloud mining service provider is to look at the number of subscribers. Be cautious if the number is unusually low.

Do we have everything we need to start mining XMR? Not yet. One thing is missing; a wallet address. Whether you are solo or pool mining, an address is of apt importance because it is where you can claim your rewards. You can either use a full node wallet or the one you use on your favorite cryptocurrency exchange, such as Binance and Coinbase.

Now that we have all the ingredients, it's time to configure our mining software. Configuration involves using the mining software to connect the hardware to either a pool or directly tapping into the Monero blockchain.

It is an unfortunate reality that Monero is highly sought-after by bad actors like hackers and scammers due to the anonymity its privacy features provide. Therefore, these same criminals choose not to mine XMR the legitimate way or buy it from exchanges, but instead, they infect internet users computers through malicious software (malware) embedded in emails or hacked websites. This malware in turn uses these compromised computers to surreptitiously mine Monero peer-to-peer without anyone knowing it.

It is estimated that 4% of all Monero is mined through so-called botnets, groups of thousands of compromised computers whose processing power is ramped up to mine cryptocurrency without the knowledge of their owners. It is estimated that over $57 million in XMR has been mined in the last four years in this manner (as of January 2019). Monero (and Bitcoin) is also the crypto of choice for ransomware hackers.

This is an untenable situation for authorities, as these funds are distributed to money launders, criminal gangs and terrorist organizations. The main reasons why regulators are taking action at cryptocurrency ownership are because they are mandated to ensure the protection of their jurisdictions residents and more importantly, that the Financial Action Task Force (FATF)s global anti-money laundering (AML) and combating-terrorism funding (CFT) guidances are met.

Therefore, they cannot turn a blind eye to this illicit and AML/CFT violating behavior and have put pressure on exchanges to delist privacy coins like XMR. Many leading exchanges in Asia especially did so, in 2020.

XMR mining is among the few profitable mining ventures that don't break the bank to acquire the mining equipment. With your CPU or GPU and initiative, you're all set. Furthermore, the option of cloud mining removes the hassle of building and maintaining a rig for those who want to do away with the technical stuff involved in mining Monero.

If the Monero price increases, so does the profit margin of mining, since less investment goes into the process than when mining Bitcoin. However, it's crucial to keep your eyes open for scammers, especially with cloud mining as well as privacy coin regulations in your country.

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how to mine monero (xmr) in 2021 | cryptimi

how to mine monero (xmr) in 2021 | cryptimi

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In this how to mine Monero guide, we will provide you with the important information you need to know before you mine this cryptocurrency. We will also offer guidance on building your Monero mining rig and where you can sell your coins for a profit.

Monero is an open-source digital currency that was built on the main premise of privacy. Launched in 2014, it is built upon a Blockchain that disguises the addresses of transaction participants. As a result, this has made it particularly popular amongst online casino players, as well as consumers looking to purchase goods and services anonymously. Given this popularity, the coin is frequently traded online. In addition, users searching how to mine Monero are also on the increase.

Monero is one of the more popular cryptocurrencies around. Although it currently ranks 28th in terms of market capitalisation, it is important to remember that there are over 4,000 coins and tokens competing for top positions. Moreover, until recently, the coin held positions within the top 10 rankings, and it is quite possible that it will regain some lost ground in the future.

Since you are reading this how to mine Monero guide, you likely do not need much convincing to get started. If youre still on the fence about it you should consider that the coin had a price of around $10 in January 2017 and a price of $494 just a year later.

Few opportunities provide an asset value increase of 4800%. Following this price, Moneros value dropped back down to $33 by March 2020, only to rise back to almost $471 just over a year later. In fact, if you study a Monero price chart you will notice that this coin is particularly volatile. Periods of low prices are countered within a few months with price hikes. This means that if if you learn how to mine Monero and then time the moments when to sell, you can stand to make significant margins. The coins high volatility and average daily trading volume worth over $532 million makes it a popular coin to trade for Bitcoin (BTC).

As we write this guide on how to mine Monero, there are currently just over 17.9 million XMR coins in circulation. These will continue to increase until a total of 18.4 million are mined. Once this number is reached, new coins will still be minted, but at a fixed rate of 0.3XMR/minute.

Monero mining relies on the tried and tested, Proof of Work (PoW) mechanism. This is the same mining system utilised by top cryptocurrencies, including Bitcoin. In essence, it utilises the computational power of miners to solve increasingly complex equations in order to come to a consensus and validate transactions. Miners are responsible for ensuring the integrity of the Monero blockchain and for creating new blocks. For their efforts, they are rewarded with newly minted XMR coins.

The following is some of the latest statistics associated with mining this cryptocurrency. In the following sections of this how to mine Monero guide you will be able to understand why this information is important.

Once you learn how to mine Monero you will need to have a computer, or rig, to mine it with. Fortunately, mining this cryptocurrency is still relatively easy and can be done with a normal PC. If you intended to mine Bitcoin, for example, you will need a much more powerful mining rig.

It is common for people looking to learn how to mine Monero to ask whether it is possible or feasible to mine cryptocurrency on a smartphone. Whilst this is possible, even for Monero, the potential returns are normally insignificant. As a result, whilst you can certainly mine Monero on a mobile phone, you cannot expect to turn a profit or even afford to buy a candy bar.

When choosing to mine Monero you can opt to use a CPU or a more powerful GPU. You can find cheap CPUs, such as the AMD Opteron 627 or the Xeon L5640 for between $50 $150. These provide hash rates of between 130 415 H/s. On the other hand, if you are ready to make a larger investment in return for better margins, you should go for a GPU. The AMD Ryzen Threadripper 3970X, for example, can provide a hash rate of 28,000 h/s, but this comes at a cost price of almost $2,000.

Other components of your rig, including power supply, graphics card, and the rig itself must simply match the specifications outlined on the CPU or GPU. If you have opted for a GPU, then even the CPU doesnt need to be powerful. An i5 or i7 should suffice.

Before going ahead with purchasing your components, you should calculate their energy consumption and add a buffer of around 20%. This is an important calculation since electricity will be your greatest running expense. If you are able to utilise cheap electricity, such as from renewable sources, you stand to make a much larger profit.

The hash rate is an important characteristic of your GPU or CPU. In essence, this is the computational power per second that is required to mine Monero or any other cryptocurrency. The Monero average hash rate is 2.7Gh/s which translates to 2,700,000,000h/s. As you probably realise, even a powerful GPU would take significantly long to mine one coin. We will explain how you can join a mining pool later on in this how to mine Monero guide.

You can find several XMR mining software options on the Internet. We recommend you use the XMR-STAK-CPU software as it is easy to use and can allow you to start mining without needing technical knowledge. This software charges a 2% development fee unless you can compile the source code yourself.

This is a very common question, especially by those looking at how to mine Monero. Generally speaking, it is still worthwhile mining this popular coin. However, you need to understand your specific circumstances, including the initial price of your investment, the running costs of electricity and maintenance, and the ultimate sale price of the coin.

You can start mining Monero alone once you have the necessary rig and software. There are certainly benefits to mining on your own, including no sharing of profits and no rules to abide by. However, in an increasingly competitive mining market, it can be very difficult for you to mine any significant amount of XMR.

Mining pools are a group of individuals, or rather, computers, which combine their computational power in order to mine cryptocurrencies faster. When you join an XMR mining pool you benefit from higher profits, although these are shared amongst all members. In addition, certain pools charge an administration fee and may have certain minimum rig requirements to enter.

It is important to note that unlike when you mine XMR directly, new coins from mining pools go to the mine administrators. It is then up to them to share them fairly. Unfortunately, there have been instances where this did not happen and pool participants were defrauded. The best way to avoid this is to join reputable mining pools with years of existence.

Mining Monero on the cloud is an alternative to buying and operating your own rig. With this option, you are renting out computational power from a mining farm. Since no initial investment is required, but you can still benefit from the advantage of combined computational power, cloud mining can be a cost-effective way to mine Monero. Profits are shared amongst cloud miners based on their participation. However, just like with mining pools, there is a risk of cloud miners disappearing with your coins.

One of the common factors between all methods of mining Monero is setting up your wallet. A cryptocurrency wallet is a vital component, designed to securely store your coins and prevent them from being stolen. You can read our detailed guide on cryptocurrency wallets, but for the time being, you should know that there are two main types of wallet and that not all wallets support Monero.

The Ledger Nano S is a hardware wallet able to support over 1,100 different coins and tokens, including Monero. Durable, lightweight and easily portable, the Nano S is considered to be one of the safest cryptocurrency wallets in existence. It is known for offering superb value for money, featuring a display and two buttons to help you manage transactions. In addition, you can connect the Nano S to your computer and use Ledger Live to easily manage and carry out transactions.

Trezor One is a cold storage device and one of the oldest cryptocurrency wallets in existence. The manufacturer is well-known for offering wallets that are practically impossible to hack remotely and have a stellar track record in security. The Model One supports almost 1,200 different coins and tokens, including XMR, and is very easy to use. It features two buttons with which to manage transactions and can connect to your PC via USB. Trezor Bridge facilitates the connection between your wallet and PC, providing a convenient way to manage and execute transactions.

The Guarda Wallet is a software wallet available on computer, mobile, and web browsers. Free to set up, it provides a fast and convenient way to store your newly mined Monero coins. However, since the wallet is constantly connected to the Internet, it is considered to be significantly more vulnerable than a hardware wallet. As a result, you should only use such a wallet temporarily, such as to convert coins to BTC or cash. The Guarda Wallet is very easy to use, with support available in case you need any help.

The reason you have looked up how to mine Monero is that you hope to turn a profit from mining this cryptocurrency. As a result, it is natural to wonder when and where to sell it. Answering when is difficult since the price of this coin is highly volatile. As a result, it could easily increase or decrease by 200% or more in a couple of hours. Since it is difficult to predict what the price of Monero will be in the future, you should seek to sell it when its price is, at the very least, equal to the cost of producing it.

When it comes to where to sell Monero, the answer is significantly easier. Cryptocurrency exchanges offer the best method to sell Monero for fiat currency or exchange it for another coin, such as Bitcoin. Whilst there are numerous exchanges available, we have found the following to be the best for Monero.

Kraken is one of the worlds oldest cryptocurrency exchanges and has a reputation for offering a safe and reliable environment in which to trade coins and tokens. The exchange offers a quick account opening procedure and lets you store your XMR coins in a free, in-built wallet. Due to the exchanges high liquidity and popularity, you can sell Monero in seconds and benefit from competitive fees.

Binance is one of the worlds largest cryptocurrency exchanges, supporting the conversion of over 450 different coins. Whilst this exchange lets you buy Monero using a debit or credit card, it does not currently support the sale of this coin. Instead, you can convert Monero to a more popular coin, such as Bitcoin, and then transfer this coin to an exchange in order to convert it to fiat currency. Although this might sound like an extra hassle, Binance is known for offering some of the lowest trading fees, so this process might provide you with a better EUR value in the end.

There are a number of coins that are relatively easier to mine than Monero. Coins, such as Dogecoin and Ravencoin, require less powerful computers and can sometimes also be mined on mobile phones or web browsers. Another significant alternative is Komodo, a cryptocurrency designed to let users develop their own blockchains and sell their own tokens.

Over the years there have been numerous coins that were easy to mine. Tron, for example, required relatively primitive equipment. Unfortunately, the coin has been completely mined, so you can only get hold of it today by buying or trading it.

Understanding how to mine Monero can help you understand if it is worth it for you to make the investment or not. This coin has, so far, withstood the test of time, gaining significant popularity along the way. Given its high price volatility and its increased use in online purchases, it is likely to remain a popular coin that is worth mining. Before you do, however, you should calculate potential earnings and ensure a reasonable return.

No crypto investor wants to buy an overvalued coin only to discover that their long position has been Swiss-cheesed even before the move was made. More often than not, the glittering of a coin is a question of unstable human emotions instead of adequate research and tenable data. To properly evaluate the worth of a []

Gold-backed cryptocurrency can be defined as a stablecoin that backs each token with physical gold. Because of the volatility of the cryptocurrency market, many people are uncomfortable with the market and so prefer to invest their money in different stocks and indices. But with a gold-backed cryptocurrency, the token is pegged to a current gold []

Bitcoin is king when it comes to cryptocurrencies. As the pioneer in the industry, it has maintained its position as number one in terms of market cap and daily traded volume. But have you ever wondered, how long does Bitcoin take to send? Or how long does a Bitcoin transaction take? Well, in this article []

As cryptocurrency becomes mainstream, more and more people are getting involved in the crypto-world. This has also raised curiosity on how to mine cryptocurrencies and not just exchange and purchase them. As exciting as this sounds, crypto-mining is not easy to achieve, as it requires deep technical knowledge. If mining cryptos is something you are []

As the price of Bitcoin and other cryptocurrencies continues to soar, news of people who have lost access to their crypto stash is always hitting the headlines. Recently, Stefan Thomas, a German-born crypto enthusiast, made news when he had only two attempts to his password for him to access his 7,002 Bitcoins worth millions of []

In this how to mine Monero guide, we will provide you with the important information you need to know before you mine this cryptocurrency. We will also offer guidance on building your Monero mining rig and where you can sell your coins for a profit. What is Monero? Monero is an open-source digital currency that []

Although Bitcoin is seen as the gold of cryptocurrencies and a value for long-term purposes, Litecoin is seen as the silver of cryptocurrencies and a trading tool for cheaper and daily purposes. Litecoin was released on October 7, 2011, through an open-source client on GitHub. The Litecoin network was launched on October 13, 2011. It []

Cryptocurrencies are turning the Fintech world upside down. As the immense power of Blockchain technology continues to unfold, it comes with limitless opportunities that are transforming the global economy. Apart from the decentralized nature of crypto, theres one fundamental aspect of this mind-boggling technology: the open source aspect of cryptocurrencies. To understand how crypto works, []

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best monero mining hardware and software

best monero mining hardware and software

Despite ever-growing mining difficulty, this is still a great way to make profit on cryptocurrency. If you want to try XMR mining, you should prepare properly and choose the best hardware and software. Which software solutions are the best for Monero miners? This guide is here to explain that.

Monero mining is different from Ethereum, Bitcoin or Bitcoin Gold. The mining algorithm applied is called CryptoNightR. For finding the block, a miner gets 3.4266 XMR, and block generation takes about 2 minutes.

In order to calculate the theoretic profitability of your Monero mining hardware, check outmining calculator. You can also mine Monero with minerstat msOS or Windows Node with CPUs or GPUs. You can change CryptoNightR to RandomX as XMR forked at the end of November 2019.

Experiments with different versions of the GPU will allow you to find a card with the best price/performance/power ratio (in megahashes per unit cost). AMD cards tend to outperform NVIDIA models when broadcasting with the EthashAlgo client. In the case of Equihash and the EWBF Miner miner, AMD cards perform on an equal footing with NVIDIA. For mining Monero, graphic cards of both brands are suitable.

The primary advantage of the CryptoNight algorithm in the possibility of mining on central processors. A powerful processor from the Intel i5 or i7 family would be an optimal pick for anyone who wants to participate in cryptocurrency mining.

Why GTX 1080 is standing in the middle of the list? It is too overpriced and consumes more electricity, which makes it worse than its predecessor from the point of efficiency. However, when it comes to the renewed version called Nvidia GTX 1080 Ti, this GPU is more powerful than the previous ones and exhibits excellent performance during the process of Monero mining. Taking into account the inflated cost, it requires significant initial investments and pays off in approximately the same way, however, the subsequent income is way higher.

If you plan to buy second-hand GPUs, it is better to purchase cards from gamers, not from miners, because the first option presupposes you will get less worn-out equipment. Carefully compare the performance, power consumption, availability, and cost of different GPUs. AMD RX 570 card with 4 GB of RAM is recommended as a good budget pick.

Claymore has for some time been a top choice for Ethereum miners, however, the CryptoNote mining software hasnt been maintained well, and just offers CPU and AMD variants of the mining software. Be that as it may, it has great customer support and great hash rate.

Cudo Miner is a profoundly useful GUI Ethereum mining software for Windows, Linux, and Mac that can consequently change to mining different digital forms of money like Ethereum, Ravencoin, Grin, Verge, Vertcoin, or Ethereum Classic if they are more profitable. There is one curious feature; whatever it mines, it can still now pay you in Monero (or another coin of your choice, for example, Bitcoin or Ethereum). It has a straightforward GUI that makes it simple for newbies to navigate yet, in addition, has advanced highlights for experts, for example, overclocking and hardware optimizations.

XMRig is superior Monero mining software thats designed for Windows. It was one of the first prevalent mining software solutions for Monero yet hasnt been updated for quite a while. Youll additionally need to pick which version to utilize depending upon whether you need to mine on CPU or GPU.

XMR-Stak is a widespread Stratum pool miner. This mining software works with CPUs, AMD, and NVIDIA GPUs, and can be utilized to mine such crypto assets as Monero, Aeon and other CryptoNight coins. Its additionally one of the most effectively developed projects of its kind, and it supports Windows, Mac, and Linux. XMR-Stak is all around upgraded for its sole reason for mining CryptoNight, and is known to produce higher hash rates than its counterparts.

MinerGate is a mining pool and offers its own GUI mining software that is connected to the pool. The product is multicurrency, so it supports various coins, and being a GUI mining software its great for beginners.

Monero Spelunker is a GUI wrapper made with VB .net for a Cryptonight CPU miner. Instead of entering arguments on the command line, or creating a batch file, the user can just open the program and fill the fields.

Despite ever-growing mining difficulty, this is still a great way to make profit on cryptocurrency. If you want to try XMR mining, you should prepare properly and choose the best hardware and software. Which software solutions are the best for Monero miners? This guide is here to explain that.

Monero mining is different from Ethereum, Bitcoin or Bitcoin Gold. The mining algorithm applied is called CryptoNightR. For finding the block, a miner gets 3.4266 XMR, and block generation takes about 2 minutes.

In order to calculate the theoretic profitability of your Monero mining hardware, check outmining calculator. You can also mine Monero with minerstat msOS or Windows Node with CPUs or GPUs. You can change CryptoNightR to RandomX as XMR forked at the end of November 2019.

Experiments with different versions of the GPU will allow you to find a card with the best price/performance/power ratio (in megahashes per unit cost). AMD cards tend to outperform NVIDIA models when broadcasting with the EthashAlgo client. In the case of Equihash and the EWBF Miner miner, AMD cards perform on an equal footing with NVIDIA. For mining Monero, graphic cards of both brands are suitable.

The primary advantage of the CryptoNight algorithm in the possibility of mining on central processors. A powerful processor from the Intel i5 or i7 family would be an optimal pick for anyone who wants to participate in cryptocurrency mining.

Why GTX 1080 is standing in the middle of the list? It is too overpriced and consumes more electricity, which makes it worse than its predecessor from the point of efficiency. However, when it comes to the renewed version called Nvidia GTX 1080 Ti, this GPU is more powerful than the previous ones and exhibits excellent performance during the process of Monero mining. Taking into account the inflated cost, it requires significant initial investments and pays off in approximately the same way, however, the subsequent income is way higher.

If you plan to buy second-hand GPUs, it is better to purchase cards from gamers, not from miners, because the first option presupposes you will get less worn-out equipment. Carefully compare the performance, power consumption, availability, and cost of different GPUs. AMD RX 570 card with 4 GB of RAM is recommended as a good budget pick.

Claymore has for some time been a top choice for Ethereum miners, however, the CryptoNote mining software hasnt been maintained well, and just offers CPU and AMD variants of the mining software. Be that as it may, it has great customer support and great hash rate.

Cudo Miner is a profoundly useful GUI Ethereum mining software for Windows, Linux, and Mac that can consequently change to mining different digital forms of money like Ethereum, Ravencoin, Grin, Verge, Vertcoin, or Ethereum Classic if they are more profitable. There is one curious feature; whatever it mines, it can still now pay you in Monero (or another coin of your choice, for example, Bitcoin or Ethereum). It has a straightforward GUI that makes it simple for newbies to navigate yet, in addition, has advanced highlights for experts, for example, overclocking and hardware optimizations.

XMRig is superior Monero mining software thats designed for Windows. It was one of the first prevalent mining software solutions for Monero yet hasnt been updated for quite a while. Youll additionally need to pick which version to utilize depending upon whether you need to mine on CPU or GPU.

XMR-Stak is a widespread Stratum pool miner. This mining software works with CPUs, AMD, and NVIDIA GPUs, and can be utilized to mine such crypto assets as Monero, Aeon and other CryptoNight coins. Its additionally one of the most effectively developed projects of its kind, and it supports Windows, Mac, and Linux. XMR-Stak is all around upgraded for its sole reason for mining CryptoNight, and is known to produce higher hash rates than its counterparts.

MinerGate is a mining pool and offers its own GUI mining software that is connected to the pool. The product is multicurrency, so it supports various coins, and being a GUI mining software its great for beginners.

Monero Spelunker is a GUI wrapper made with VB .net for a Cryptonight CPU miner. Instead of entering arguments on the command line, or creating a batch file, the user can just open the program and fill the fields.

how to mine monero: the complete 2019 guide for monero mining

how to mine monero: the complete 2019 guide for monero mining

Monero (XMR) is a veteran in the crypto world that offers unmatched privacy. If anonymity is a main concern of yours, youve made the perfect choice. Mining Monero is easy and profitable thanks to the cryptographic algorithm it uses. Weve prepared a detailed guide for you, which best explains how to get started and maximize your profits. It includes: more

How to mine Monero has one more aspect, preferred by many due to the lack of hardware and electricity bills hassle. At the section cloud mining we will discuss this alternative in detail.

It would be safe to assume that youre into crypto for making profit. But which coin should you choose, which is the best one for you? If youre concerned with your privacy, then look no further mining Monero is the answer to your woes. By contrast to Bitcoin, Monero has an amazing set of privacy features when speaking of transactions. Even if someone sends you Monero coins, youre not able to check the source of the transfer. The same applies for the opposite: if you send somebody coins, he or she wont know that it was you, unless you tell them. In fact, if you dont know a persons address, theres no chance to find out how rich they are. Pretty cool, isnt it?

Monero mining is done by solving complex puzzles with your central processing unit (CPU) or graphical processing unit (GPU). Whats great news is that you can still mine XMR coins with your CPU, so notebooks and desktop PCs can earn you coins as well.To maximize your profits however, we recommend going the GPU route (AMD). In the upcoming paragraphs youll find detailed information on which are the best cards to mine with and what their performance is. As with most other currencies, mining Moneo in a pool proves to be the most beneficial way as you can expect regular income and high chance of completing blocks. Said in few words, pooled mining combines the hash power of all participants and boosts the speed with which a new block is found. To prove our point, we would like to give you a glimpse at mining XMR on your own. When you try to find the missing element of each new blocks equation, you are running against the thousand times faster pool hash power. This way you leave your reward in the hands of luck. There you have your answer, the best way to mine Monero is with GPU AMD cards in a pool.

Basic requirements for mining XMR are related to your hardware equipment, which we are about to explore in detail in the following Hardware Section. To achieve the best results, youd need to setup a custom GPU mining rig. Even though desktop PCs and Laptops can also be used, they arent as effective. You also need a Monero wallet to receive your coins, the download of the official wallet you can find at the Monero website. Below, we have summarized all other requirements to start mining for Monero:

We will start by saying, that every piece of machinery working with electricity can cause bills, noise and heat side effects. When mining for Monero, your GPU rigs will do exactly that. Our team of experts dedicated to keep up with the working troubleshooting ideas, maintain our specialized webpage. Check it out and keep your mining gear up and running for longer period of time. Dont worry, all aspects are explained.

Which lead us to another element worth your attention. We will explain about the latency of your connection. Imagine you and one more miner find a block at the same time. In order to be rewarded for that, the information should be sent to the blockchain for approval, that you are the one, who found it first. In case your latency is higher than the other miner, his information will reach the ledger first. This way you will have been mining for nothing. So, you need faster response from the Monero mining pool (low latency) and at least 500MB per device per day.

You need to download the latest version of xmr stak github release page. There Youll find versions from fireice-uk and psychocrypt. Currently though, the latest version for CryptoNight v7 is 2.4.2.

Download the .zip file on your computer. Once its ready, unzip it to a directory of your choice. Be aware, that your Windows antivirus program may tag or block your miner, because it can detect it as a threat. Its standard and you have nothing to worry about. Just add exclusions for the miner on your Antivirus software and you are good to go.

You can find this information in your pools getting started page. The choice of the address and the port of your hardware depends on your location. Enter the pool URL address in the command window and hit enter to proceed with the next step.

You should see an empty password field. What is more, the Rig identifier for the pools side statistics is usually optional. Next step for you is to enter port support option (TLS/SSL) for the chosen pool enter the following command: n. Nicehash; definitely No. Multiple pools; No. Once this list is complete, your miner will connect to the pool of your choice and will start mining the cryptocurrency you have picked. In addition, it will create 3 more files in the folder. They will be cpu.txt, nvidia.txt or amd.txt and pools.txt.

Open your systems start up folder. Drag and drop a shortcut to the softwares .exe file. Remember, this should be done in your miners folder. This is needed, if youd like it to auto-start mining when your Windows boots up. Here is the path to the system startup folder in Windows 10: Start > Run and entering shell:startup.

Generally, if you want to use our Monero mining calculator, all you need to do is to enter the necessary information, such as the hash rate and the power consumption of your device(s). If you are mining in pool also enter pools fee inside the calculation.

Disclaimer: Remember that these results are based on factors like network difficulty, block reward and current coin price and theyre also taken into consideration when calculating. Your profitability can go in any direction if some of these values changes in the future.

Companies comparable to the Canadian Hashchain Technology Inc., have stable and booming startup market, supported by the government. Businesses in Iceland take advantage of the freezing climate to gain an upper hand. BitFury and all of its competitors have perfect tax situation and an established blockchain market in Georgia.

Monero (XMR) is an open-source cryptocurrency, which primary focus is on the users privacy and decentralization. Not everything works as planned. Example is the unwanted hackers and lawbreakers attention, that was unfortunate consequence from the heightened privacy features of the coin. Nevertheless, every unit of the currency can be replaced by another one. This gives XMR a significant advantage over the other cryptocurrencies, such as Bitcoin.

Monero has made several large improvements since it has been launched. One of them is the blockchain migration to a different database structure. This was done to provide greater efficiency and flexibility. The setting of minimum ring signature sizes was the next extra step, that granted all transactions to be private by mandate. Moreover, the transaction amounts are hidden, thanks to the RingCT. Roughly all improvements have increased XMRs both security and privacy. Monero continues to develop its goals of confidentiality and protection on the first place, and the ease of use and efficiency on second one.

The crypto coin XMR is a successful open source project. There is no centralized organization or company involved in its existence. Most developers interested in the project, actually join and contribute for free. Nevertheless, there is a system (FFS), which tolerates anyone to suggest ideas in need of funding and that the community is free to support: https://forum.getmonero.org/#category-2

XMR uses CryptoNight as its mining algorithm. This hashing function comes with a few features that are worth being considered. Most notably, it is particularly memory bound algorithm, depending on the speed between processing and memory modules. This caused the decrease, considered as advantage, that GPU mining brings over CPU, compared to other algorithms.

The fundamental flaw that they all overlooked is that the algorithm involves two distinct elements. Both, Bitcoin and CryptoNote, tried to fulfill those requirements with a single cryptographic algorithm. I.e., the actual work that must be done, and the proof that the work has been done. However, the crypto hashes are only good for one proof to digitally verify, that a piece of data is authentic.

The ongoing protocol upgrades to the process, which Monero goes through once in every six months. Several new useful features were introduced thanks to the latest hard fork. That includes bigger and private resource-intensive transactions, multi-signature transfers, Ledger Nano S support and many more.

Riccardo Spagni, XMRs creator, commented on GitHub, that the adjustment of the coins strategy aimed to make it more ASIC-resistant. His argument rests on the fact, that Monero employs extensions, boosting CPUs mining status. Thus, giving them an orchestrated unfair advantage. Spagis creation would adopt a less hostile attitude toward ASICs, if similar extensions were widely implemented, in order to make the hardware more democratic.

Combining the value of his educational background in Hardware Management Systems and years of practical experience with cryptomining technologies starting at the birth of the disruptive innovation, Roland is now sharing his knowledge with the public.

Please do your own due diligence before making any investment decisions. HowToMine is not accountable, directly or indirectly, for any damage or loss incurred, alleged or otherwise, in connection to the use or reliance of any content you read on the site.

best free monero cloud mining method

best free monero cloud mining method

MinerGate is multicurrency pool that gives a chance to mine free Monero. you simply start the software and look for the most favorable cryptocurrency to extract for the moment. However, you'll force it to pick Monero.

Below you'll see a screenshot from Minergate once we mine Monero XMR in April 2019. we've tested Minergates software on several occasions and with a laptop, it's never covered the electricity cost. For a gaming computer, the calculations look completely different than they are often worth counting on the free vs. the costs.

Genesis Mining has offered Monero contracts. These were fixed-time contracts over 2 years and maintenance fees were included. in the screenshot below you'll see the plans offered by Genesis Mining. additionally, you'll see that Genesis Mining does offer cloud mining contracts for Bitcoin, Litecoin, Zcash, Dash, and Ethereum. In April 2019 only Dash cloud mining contracts are available from Genesis Mining. Dont forget to use our discount code free all cloud for 3% off.

Monero, much like cryptocurrencies available for cloud mining, offering a proof of work (PoW) algorithm that permits investors to mine them. The said algorithm is CryptoNight, a hash-based function system that's supported CryptoNote protocol. The blockchain offers publicly available ledger records where all transactions are viewable. The creator of the cryptocurrency, Nicolas van Saberhagen, made the said blockchain technology and token in 2014.

Bitcoin requires much faster mining hardware called ASICs. Monero has been developed so that ASICs shouldn't have as much advantage over CPU mining. the aim of this is that everybody should be able to participate and thus increase the degree of decentralization in the network.

Monero has an adaptive block size, which suggests that if the transaction volume becomes high, the block size is increased automatically. this is an excellent advantage over Bitcoin, which may provide very long transaction times.

The profitability of mining also depends on the price of XMR. the prices of cryptocurrencies can increase and decrease very quickly, and these price changes have an effect on your mining profitability.

It's completely up to you if you would like to start out mining, though. Consider the factors above, then make your decision. Just remember - the more you invest, the more likely you're to be rewarded.

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