How to start mining
Every day there are millions of new miners who want to earn a new currency. But, to ensure the process of cryptocurrency mining, it is necessary to take into account many important points: the choice of a video card, processor, software, fork, wallet, exchange. All this is just a small list of steps that are necessary for mining.
Choosing a video card for mining
When choosing video cards for mining, you need to pay attention to the following characteristics:
- Memory size. It must be at least 2 gigabytes, otherwise, the payback of the video card itself will take a long time, and the profit in the future will be minimal.
- Memory speed. The best video card according to this characteristic can be attributed to a card that has DDR 5 memory. It is the most profitable for mining in terms of computing ability and power consumption.
- Cooling. Video cards from Radeon have an active cooling system. The power of the card, as well as the service life, directly depend on the degree of cooling.
- Bus width. This indicator should be at least 256, if the bus width is less, then the mining speed will be minimal.
- Overclocking capability. This characteristic is not very important, however, the correct overclocking of the card can increase profit by 25-30% of the original power.
Among the most optimal video cards for mining are:
- AMD Radeon RX 470;
- AMD Radeon RX 480;
- AMD Radeon RX 580;
- Nvidia GeForce GTX 1060;
- Nvidia GeForce GTX 1070;
- Nvidia GeForce GTX 1080;
- AMD FuryX.
Video cards differ in power and other characteristics, but all of them are relevant for cryptocurrency mining today.
Choosing a processor for mining
For cryptocurrency mining, it is necessary to choose the right components, including a processor. Currently the best are:
- Intel Celeron G1840 2.8GHz 2MB s1150 Box (BX80646G1840). The biggest advantage of this processor is its affordable price. It is suitable for building mining farms. Motherboard with LGA1150 socket. The presence of 2 cores, cache memory (2 megabytes). The thermal package of the processor is 53 W at maximum load. Active cooling system, which will 100% eliminate overheating.
- Intel Pentium G3260 3.3GHz 3MB s1150 Box (BX80646G3260). The release of the processor is carried out under the LGA1150 socket, so choosing a motherboard will not be a hassle. The presence of 2 cores, cache memory (3 megabytes). The advantage of the processor is low heat dissipation at maximum load. It also has an integrated graphics subsystem Intel HD Graphics, which is able to replace the video card at the original level.
When choosing a processor, it is necessary to take into account all the characteristics, since the speed of cryptocurrency mining depends on them.
Choosing a pool for mining
A mining pool is a server that distributes the calculation task among the participants. When a block is formed, participants receive a profit. A pool has a higher chance of forming a block than a single miner. But. It should not be forgotten that the profit is shared among all participants, but the option is more profitable compared to single mining.
When choosing a pool, you need to pay attention to the following indicators:
- Pool power. If the pool is new, then it usually does not have enough capacity to provide high profits.
- Own equipment. It is necessary to evaluate the performance of the video card with which the mining process is planned. If you beckon from old equipment, then the profit will not even cover the losses for electricity.
- Sharing profits. Most often, profits are divided proportionally to contributions. If it is not possible to make a significant contribution, then the optimal distribution of profits is equal.
- Payouts. You need to find out about the possibility of withdrawing funds to a bank card or electronic wallet, as well as commissions and percentages of the service.
When choosing a pool, you need to be careful, because future profits will depend on the right service.
Choosing software for mining
Software also plays an important role in the cryptocurrency mining process. If you choose the right programs that have a user-friendly interface, then it will become much easier to mine cryptocurrency.
Software
The best programs for receiving cryptocurrency are:
- Software 50Miner. This software is the best for cryptocurrency mining. The program is in Russian, quite easy to use. Even a novice miner can handle it. Also a positive feature of the program is the automatic authorization of the user. To download the program, you need to
- BFGMiner program. Such a program is suitable for miners who value convenience and reliability. The advantages include the possibility of mining cryptocurrency using FPGA, as well as the power of the video card. Official site: http://bfgminer.org/
- Ufasoft Miner client. Training for further use of the program will not take more than 15 minutes. It is possible to change the pool, set the temperature, speed. Downloading the program from the official website: http://ufasoft.com/open/bitcoin/
- CGMiner program. A fairly well-known program, but it is more suitable for professional miners. The program has advanced features for cryptocurrency mining. You can download the latest version of the program from the developer's website: http://ck.kolivas.org/apps/cgminer/
- Eobot.exe program. The software requires a powerful graphics card. To make the program work at full capacity, you need to follow certain steps (set the mode to the maximum, install the MSI Afterburner program). The program is ineffective for single mining. Official website of the developer: https://www.eobot.com/software
- Soft Coin Mi Has a user-friendly interface. With a small capacity of the equipment, it is almost impossible to earn cryptocurrency. To download the program, you need to follow the link: https://coinminer.com/
Miners
Miners are the combination of many video cards (computers) into a single chain, which leads to an increase in profits.
Miners are divided into:
- Created from a large number of video cards;
- Based on ASIC processors;
- Made up of FPGA modules.
The former are considered too energy-intensive, and they also require active cooling. The latter occupy a small area and are less energy-intensive and more reliable. Still others are quite expensive, but bring the biggest profit.
Choosing a Cryptocurrency for Mining
Initially, you need to decide on the type of cryptocurrency, as well as the strategy for its extraction. Mining at home does not always bring the desired profit, therefore, in order to receive larger amounts, it is necessary to invest part of the funds, regardless of the type of cryptocurrency, to develop your business for the production of innovative currency. You also need to take into account profitability and liquidity when choosing a currency.