In this article, we will tell you how to start crypto mining and optimize this process. In addition, we will describe the capabilities of the service Switchere.com and tell you how to buy crypto on this website anonymously.
Who Are Miners?
As it is known, miners combine many video cards into a single chain, which leads to increased profits.
Miners are classified into:
- Created from a large number of video cards;
- ASIC-based;
- Composed of FPGA modules.
The first is considered quite energy-consuming, and they also require active cooling. The second occupies a small area and is less energy-consuming and more reliable. The third is quite expensive, but they bring the greatest profit.
Easiest Method to Choose a Cryptocurrency for Mining
Initially, you need to decide on the choice of cryptocurrency, as well as the strategy for its production. In order to obtain a larger profit, it is necessary to go the other way and invest part of the funds, regardless of the type of cryptocurrency, to develop your business for the extraction of innovative currency. You also need to consider profitability and liquidity when choosing a currency.
The total capitalization of cryptocurrencies is approximately $ 450 million. As it is known, Bitcoin takes about 63% of the total amount, respectively, 37% falls on other cryptocurrencies. The second currency by capitalization is Ethereum, the third is Dash, and the fourth is Litecoin, the fifth is EST.
Fork Selection
There are a number of forks today. When choosing it, you need to pay attention to the profitability and liquidity of cryptocurrency mining. The number of miners is also important.
Mining Profitability and Liquidity
Profitability is the amount of money earned per unit of computational complexity. It is easy to get such an indicator instantly if you calculate the profit for the day, week, month. To assess the profitability, it is recommended to use a calculator that allows you to quickly and accurately determine this indicator. With the help of a cryptocurrency calculator, you can significantly facilitate the process of choosing equipment for mining.
Currency liquidity is an equally important indicator. To determine liquidity, you need to use online resources and choose the most profitable cryptocurrency for the production of which there is enough equipment capacity.
Choosing a Fast Exchange for Mining
To choose a quick exchange, you need to consider the following characteristics:
- What cryptocurrency can be mined;
- The ability to buy cryptocurrency with credit card at the lowest cost or convert it into euro, dollar, ruble, etc. You need to know this in order to decide how to purchase crypto and where it is better to do it. In this regard, we recommend that you visit the best and secure platform Switchere.com since it offers quality services without prepaid. In that place, you can easily buy and exchange cryptocurrency using a credit or debit bank card (via Mastercard, Visa, etc.). The converter works quickly, reliably, and efficiently. Moreover, it is very easy to go through registration and verification stages on the site Switchere.com;
- Are there hidden crypto exchange credit card fees in USD or any other type of fee;
- How long does it take to complete operations?
Make your choice based on the analysis of the above characteristics.
Choosing a Wallet for Mining
Each type of wallet has a number of advantages and disadvantages, so choose one of the following:
- Fat. Loads new data every time the system starts up;
- Thin. All data is stored on the server;
- Mobile clients. Includes additional features: currency exchange, rate monitoring, instant transactions using id;
- Online wallet. The work can be done immediately by logging into the site.
The Launch of Mining
To start mining, you need to use the cgminer. This action is possible if the pool supports the stratum protocol.
In the absence of a video card, mining is possible from the central processor. Here you don’t need to send any data, but just download Pooler CPU Miner 32bit for Windows. Then unpack the archive and go to the created folder.
With the correct organization of the mining process, the profit is ensured. Follow our recommendations and you will succeed! To purchase or exchange currency, try to choose a reliable service, for example, Switchere.com.