This Part-B article is continued from Part-A. So, please read that, for a better understanding of this post.
And the first heading(#1 What is mining?) is the intro of the mining process and its works. So, just read it again and again, to understand it well.
Table of content:
#1 What is mining?
What are the processes the mining has?
How does it work?
#2 What are the types of mining?
GPU mining
CPU mining
Cloud mining
#3 How to setup mining on a computer/VPS
You need a crypto wallet
Mining devices
CPU mining
GPU mining
VPS mining
#Conclusion
#1 What is mining?
Mining is the process of making new crypto coins to get into the circulation of trading, Buy/Sell.
What are the processes the mining has?
It contains two processes, creating a new crypto coin and verifying it to the blockchain ledger.
How does it work?
You are mining cryptos by solving equations of Cryptography. You must need a lot of Hashrate to mine a decent amount of cryptocurrency. Because It works like the faster you go, The higher you get.
If you have High powered machines, you can reach the reward quicker by solving the difficulty equation blocks. Then you can go to the next one.
But, Before starting, you need to know about Mining pools, Crypto wallets and Free tools that are helpful to you.
#2 What are the types of mining?
GPU mining
GPU (graphic card) is an external option to increase the gaming process in computers. But it is also used for solving math problems to verify cryptocurrency transactions.
Anyhow, you should need powerful Computing machines, and it also costs you a high amount of electricity usage.
So, You may need a Powerful GPU(Graphics card) to mine cryptos.
It will costs you a lot.
That’s why this method is easy and highly expensive too.
CPU mining
Mining cryptocurrency using your computer CPU is known as CPU mining. But, I will never suggest this way to mine any cryptocurrency, Because this is the slowest way to mine coins.
And your system may crash frequently, your CPU will break down quickly. So, don’t ever try this method.
If you are still willing to do that, I’ll show you the profitability of Cpu mining.
Here is the calculation(random X -Monero):
If you have a good performance Cpu,
Your hash rate = 210 H/s
Your daily profits = $0.011
You should run your computer for a whole year (365 days) to earn = $4.30
And also you need to spend more than your profit, on power consumption. So, this is a terrible idea.
If you want to give it a try, that’s better. But you need to run your computer for four months to earn $1.
Cloud mining
Cloud mining is one of the best options to get bitcoins. And you can even give it a free try. Several cloud mining sites will give a great offer to make bitcoins. But they will restrict the payout process.
You need to buy a hash rate to make the payout of your mined bitcoin. And they will be the best option to make bitcoins without struggles.
BEWARE: Many scammers will scam you to get your cryptocurrency, your card details, your bank details and more. So, be careful when buying or providing your information to any company.
Anyhow, I recommend this way to get the Profit without struggle. But, be careful.
Read More: Is mining worth without GPU/ASIC?
#3 How to setup mining on a computer/VPS
You need to set up the mining process correctly to get highly profitable mining. If you had a GPU (graphic card), you can mine profitable coins.
But If you try mining on the CPU, the Cryptonight algorithm will help you. Still, it was not profitable. That’s why you should avoid it on your computer.
Here are several steps to start mining:
You should need a crypto wallet
In the whole mining process, you need crypto wallets to save your mined cryptocurrency safely.
I always recommend you to use the online crypto wallet of Coinbes.com or Blockchain.com.
These are the best free wallet providers giving higher security by activating 2FA, SMS verification, Email verification for each time you log in to your account.
So, your crypto coins will be safer.
Mining devices
CPU mining
Do you start mining with CPU? That’s a bad idea(I am not joking). But still, it has software(algorithm) to mine. I recommend you to mine Monero Or conceal for a better profit(not much).
GPU mining
But, If you have GPU, It will be worth mining. Yes! You can mine ethereum on your GPU (Graphics card). Ethereum is the highest profitable coin on GPU mining.
The algorithm of ethereum was perfectly matching with GPU’s processing.
VPS mining
VPS (virtual private server) is a virtual machine that runs on your web browser. Several websites/companies sell it for a certain period as an online service.
It was just like cloud mining. There are several VPS providing companies, banned mining on their VPS. So, read the terms & conditions before starting with them.
Important step: Finally, calculate the profit using the crypto compare mining calculator before buying it.
Read More: How to mine cryptocurrency using VPS?
#Points to remember
- GPUs are used for solving math problems to verify cryptocurrency transactions.
- You may need a Powerful GPU(Graphics card) to mine cryptos. It costs you a lot.
- CPU mining is the slowest way to mine crypto coins.
- And you need to spend more than your profit on power consumption. So, CPU mining is a terrible idea.
- Several cloud mining sites will give a great offer to make bitcoins. But they will restrict the payout process.
- Many scammers will scam you to get your cryptocurrency, your card details, your bank details and more.
- Ethereum is the highest profitable coin on GPU mining. Because the algorithm of Ethereum was, perfectly matched with GPU’s processing.
- There are several VPS providing companies, banned Mining on their VPS. so, read the terms & conditions before starting with them.
- Finally, calculate the profit using crypto compare mining calculator before buying it.
- Don’t forget to subscribe to my youtube channel for future updates.
# Conclusion
I recommend you read the article once again before learning more about mining. Because I informed you about the beginning of crypto/Bitcoins. So, make sure you understand the content well.
And Don’t forget to subscribe to my Youtube channel.
See you, bye!
Thank you Notes:
Thanks to all the sources in online, For help me to write this Article. Comments are turned on so you can comment your thoughts too.
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