Beginner Guide To Ethereum Mining
Beginner Guide To Ethereum Mining – How To Mine Ethereum
Ethereum Mining Explained – Pool, Rig, Software, Hardware, Difficulty, Basics
Beginner Guide To Ethereum Mining, The launch of ETH is one of the most popular and exciting developments in block chain technology. This has been growing explosively for last few years. There are good opportunities for beginners and ordinary users to get involved in ETH mining process. It helps earn rewards and secure your work. The process of ETH mining uses an ASIC resistant algorithm there are less chances of create any special or specific hardware to get any big benefit over everyone else. You can increase your ETH mining rewards by using high quality hardware.
You can get involved in this process with ordinary CPU processor. A normal computer has normal CPU or you may need a GPU or graphical processing unit. If you use GPU, you can get better returns. Many advanced laptops and computers already come with already installed GPU. You should invest some money in buying GPU or high end laptops and computers. You should set a high quality mining rig for ETH in order to get good returns. This is really very important to make the things easier for you.
If you are beginner and want to know all about Ethereum Mining in 2017, then this guide can be really very helpful for you. Now the process has become easier in 2017. Earlier you have to download full blockchain of Ethereum (0ver 20 GB or more), now you need not to do this. Earlier it was also a difficult task to manage command line miners but it has also become less difficult. Earlier it was hard to explain but now it is easy to make the people understand the concept of ETH mining.
First of all, you need to know what all you need to mine ETH. You need compatible hardware, a computer, 4 GB RAM, compatible OS (windows or linux), GPU drivers, an ETH wallet address, an ETH mining application, mining pool settings and much more. It would be good if you have knowledge of software or networking.
Let’s talk about the GPU drivers that should be properly installed. You should get the current version of drivers and download them. Now you need to create a new wallet. You can visit myetherwallet site and click on the option of ‘new wallet’. You can create new wallet by entering the password. Now you will get option of ‘download keystore file’ and ‘I understand and continue’.
You need to save your keystore file and agree on the terms in order to proceed further. Now you will get next option of ‘print paper wallet’. You can save your wallet address, password, private key in Notepad in your PC. You have to select your wallet file in order to unlock your wallet address. You will get this ether wallet address that you can save in your Notepad file. Now you can save this notepad file at safe place. This is all about getting a wallet.
Now you need to use Claymore ether miner in order to setting up the process. You have to get the current version from claymore’s original Bitcointalk thread. This is all about downloading your miner. Now you have to configure things in windows. You can set up batch file to run. The whole process will take just 10-15 minutes. You can jump to the mining pool. There are some mining pools; you have to work out on in order to find out which mining pool is closest to you. For ordinary users, mining pools are important.
This is a group of lots of people who work together and divide their rewards as per the contribution of each miner. This can be very beneficial for every miner as it ensures consistent constant rewards every week or day depending on pool size. You have to set up awesome miner. You should enter the mining details in order to proceed further. There are some software that is available to use for both GPU and CPU mining. This software allows users to select number of cores that should be used to mine with. You can choose the best software. Once you have installed some software in your computer, you can choose a pool. Many people want to use standard mining software. You can mine ETH and store them in wallet.
This is a brief about ETH mining, but you should have all information about the process. You can watch videos, read guides and discuss your issues on Forum sites. It helps you a lot. You should know what would work best for you. Some queries that are quite common that we have tried to resolve below have a look:
- Why GPU Mining is preferred over CPU?
Well graphic cards may be expensive but they make the ETH mining faster than CPU. If you use GPU for mining purpose they would be 200 times faster than CPU. If you have suitable GPU, it would be easy for you to make some tweaks in windows. You would also find it easy to install mining app and enter some settings from your selected website of mining pool.
- What are the suitable operating system requirements for ETH mining?
Windows 10 (64 bits) would be the suitable option. It is easy to configure and run.
- What are the other necessary things that are required for windows mining rig?
There are some hardware requirement, Window 10 OS (64 bits), motherboard with PCI-E slots, monitor, mouse, keyboard and much more.
- Why should I mine Ethereum?
This is easily traded for BTC and it can be a good way to build up a holding position in BTC. This can be an indirect way to fill your bank a/c as you can easily sell BTC for cash. There are some exchanges where you can sell ETH directly. ETH mining is somehow like an entry ticket to the market of Ethereum. This is something that you should know before entering in ETH market. Hope you find the information relevant and useful. Do comment if you have any query.