Monero (XMR) is one of the most promising cryptocurrencies that appeared in the spring of 2014. It was able to become attractive to miners thanks to its unique properties, which were incorporated in the development process. For example, the CryptoNote protocol used in bitcoin was supplemented with the CryptoNight algorithm, which made the coin even more secure against possible theft. But the main feature is ring signatures, which make it impossible to track a particular transaction within the system.
XMR rate
Before we figure out how to mine Monero (XMR), we suggest paying attention to the chart, which clearly demonstrates how the rate of this cryptocurrency has changed. Back in the summer of 2016, the record value of the coin did not rise above one dollar. At the beginning of 2017, a rapid pump began.
At the moment, people who know how to mine Monero sell coins at a price of $95-97. The capitalization of XMR is about 1.5 billion dollars, which allowed it to enter the top ten most expensive cryptocurrencies in the world.
How to mine Monero on a video card
The most efficient way to mineXMR coins - use the computing power of the video card. There is no need to buy expensive equipment, such as ASIC miner, as it is intended for mining other cryptocurrencies that are forks of bitcoin.
The most popular video adapters among users who know how to mine Monero are:
- Radeon R9270x;
- Radeon R480;
- GTX video cards (not lower than 1050).
In order to increase profitability, many miners collect so-called farms. Several video adapters are connected to one motherboard at once, RAM, a processor and a powerful power supply are installed. All this bundle greatly increases the computing ability, however, it also consumes an order of magnitude more electricity. Also, such structures need additional cooling, the installation of a voltage stabilizer.
People who know how to mine Monero note that this process is most effectively handled by AMD video cards, which process more information, consume less electricity, and also have a good active cooling system. For an AMD video adapter, a mining program is suitable - Claymore AMD GPU, and for GTX - Tsiv Nvidia GPU.
Users who have learned the basic tricks to increase cryptocurrency mining give advice on how to start mining Monero. For greater efficiency, it is better to join groups that are commonly called pools.
How to mine Monero on a CPU
IfIf you do not have a powerful graphics card, then you can start mining XMR using the processor installed in your computer. This is a less expensive way in terms of electricity consumption, but the income from such mining will be much lower. In order to activate the process of mining XMR cryptocurrency on the CPU, you need to download one of the special programs:
- Wolf's CPU Miner;
- Yam CPU;
- Claymore CPU.
Users who know how to mine Monero using a processor recommend installing the Linux operating system, as it allows finer tuning of software designed for mining cryptocurrencies.
Cloud mining
In order to become a holder of the Monero cryptocurrency, it is not necessary to assemble a farm or strain your old computer with computational operations, from which there will be practically no sense. To do this, you can use the service of the so-called "cloud mining". You just need to rent the necessary amount of capacity that can be directed to the production of a particular crypto coin. In our case, this is Monero.
In addition, you get a number of advantages compared to conventional mining:
- No need to search for the necessary equipment in order to purchase it later.
- You don't have to assemble and set up the farm yourself.
- No reason to worry about power outages or internet outages.
- In yourthe apartment will not be annoying noise from working video cards, which also emit quite a lot of thermal energy.
- You don't have to run around service centers, as nothing breaks or freezes.
- You can safely go on long trips or business trips without looking among friends and relatives for someone who will look after the equipment.
- Expensive devices will not be stolen from you (such cases have been repeatedly recorded in the territory of the post-Soviet space).
- The electricity bill will remain the same.
Best services for cloud mining XMR
As you can see, this type of mining has a lot of advantages. However, it is worth taking very seriously the choice of a particular platform that offers its capacities for rent. Since there is an unprecedented hype around the cryptocurrency, dishonest entrepreneurs are trying in any way to deceive gullible users. First of all, pay attention to the history of the service, reviews, date of creation. Among the most popular resources are the following:
- Genesis-Mining - provides the opportunity to mine both Monero and bitcoin, ether. It has been working for several years and has never had problems with payments.
- HashFlare is one of the best platforms that allows you to mine all types of cryptocurrencies that have the largest capitalization.
You can invest in another project, but remember that all actions are done at your own peril and risk.
Wallet
In order to mineMonero, you need to have your own wallet, to which the earned funds will be transferred. The safest way is to download it from the official Monero website. However, the file weighs quite a lot, and it will not be easy for even an experienced PC user to figure out how it works.
A quick and very easy way to get a Monero wallet is to register on the official website. This online manager provides reliable protection for all data and is recommended for use by the official Monero platform.
