Cryotocoin mining for the rest of us!

in monero •  7 years ago 

So you have a basic computer with a simple video card and you want to get into this "mining" thing?

When I restarted (yep I had 11 Bitcoin but back a few years ago I didn't think it was going anywhere and I've since lost the recovery info) a few months ago, Bitcoin required a massive setup to mine. So what were my options?

The first option was to "buy" hashing power from an online miner so I didn't have to use my own machine and the second was to find a fairly easy coin to mine and figure out how to exchange it for coins I wanted.

I did both.

Online Mining (hosted mining):

For the online mining I used genesis-mining.com and bought 1mh of Ethereum...at the time it was $30 us. You have to watch the site to see when the deals are available. You pay only once and you get that hashing power for 2 years. Works out to doubling your money...not bad for 2 years. If you have more $$ to invest then go for it. I get the coin deposited to my online account on Tradesatoshi.com and then exchange half of it each month for other coins (Potcoin (POT) and B3Coin (XB3) then I take the other half and move it to my Cryptonator.com account and buy Ripple...that is until Tradesatoshi offers Ripple and then I can trade in one place). Once I have the coins I deposit them to my local wallets..I suggest you never leave your currency in an online wallet...install the wallets locally and back them up. In my next posting I will provide the links for the wallets of the currencies I mine.

Mining with my computer:

I mine both Monero and Bytecoin. Bytecoin is by far the easiest coin to mine and with the right "mining pool" you get a reasonable payout you can then trade a portion for other coins you want. I use the xmrig miner which I downloaded directly from the developers repository at https://github.com/xmrig . I will post how to configure it in a future post as well. The pools I use to mine are here: Bytecoin: https://www.bytecoin.party/ Monero: https://supportxmr.com/ The resulting coin goes directly to your wallet so no middleperson in the mix.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!