As a cryptocurrency industry becomes more and more competitive, anyone serious about mining needs specialized mining hardware. Cryptocurrency is far more profitable when mined with high-power processors. As cryptocurrency enters the mainstream, every day more and more people develop interest in this new and strange world of blockchain. Many of these people fall into crypto because they had heard that it is possible to earn money from them. If you are one of those people, then you are in luck, because today I want to tell you How To Mine Cryptocurrency On PC In 2021.
What is Cryptocurrency Mining?
The term crypto mining means achieving cryptocurrency by solving cryptographic equations through the use of computers. This process involves validating a data block and adding a transaction record to a public record (ledger) known as a blockchain.
In a more technical sense, cryptocurrency mining is a transactional process that involves the use of computers and cryptographic processes to solve complex tasks and record data in a blockchain. In fact, there are entire networks of devices that are involved in cryptomining and that keep shared records through those blockchains.
It is important to understand that the cryptocurrency market is in itself an alternative to the traditional banking system that we use globally. Therefore, to better understand how cryptocurrency mining works, you must first understand the difference between centralized and decentralized systems.
How To Mine Cryptocurrency On Pc
There are a few ways you could go about How to mine cryptocurrency. I’ll cover the main ones here, and start from the easiest one is – CPU mining.
Method 1 – CPU Mining
CPU mining uses processors to mine cryptocurrencies. This used to be a viable option in the daytime, but currently, fewer and fewer people choose the method of How to mine cryptocurrency daily.
There are some reasons why this is so. First, CPU mining is extremely slow. You can run for months regardless of the smallest amount of revenue.
Going too is usually not worth it – you make very little money, but you probably spend ten times that amount on electricity and cooling. The problem in itself becomes a little less if you find a place where there is good cooling and cheap electricity bills, but this is hardly the case.
So why do people still use CPU mining?
Well, basically because anyone with a desktop computer can do it.
You only need a computer and some programs to be able to use the CPU method. This is possible to do with a laptop, but is not very strongly advised. Your laptop will probably fry and heat up in a few hours.
The fact that cryptocurrency mining is so easy to start attracts new CPU miners every day. Some people who are looking for details about how to mine cryptocurrency – they simply want to start the process as soon as possible, and either way.
Method 2 – ASIC Mining
ASIC (application-version) is particularly functionally suitable for a task, which is equipped in this way.
ASICs are included in the community.
You can see, the ASIC company announced a new version of the machine, then the computer turned on when connected to this announcement. These people have conducted a thorough investigation. To know?
ASICS that are energetic tend to rob GPU or CPU rigs, hash speed and the ability to join the project. Together, ASIC has deteriorated financially – as it deteriorates, such a situation will worsen.
Method 3 – Cloud Mining
If you are looking for ways to mine cryptocurrency mining, then cloud mining is probably the most popular how to mine cryptocurrency without lifting a finger.
Cloud mining is a process in which you pay someone a specific amount (often it is a large corporation) and their mining machine is called a “rig”, and the mining process is “rented”. is.
The fare lasts for a fixed period, through which all earnings from the rig (minus the cost of electricity and maintenance) are transferred to your cryptocurrency wallet.
The people (companies) offering these cloud mining services usually have huge mining facilities with multiple farms (tens or hundreds of rigs stacked together and working together) and know full well Let’s know how to mine cryptocurrency.
Cloud mining has become popular mainly because it offers the possibility to participate in the world of cryptocurrency for those who may not have enough money to buy their rig or who might not be interested in owning a rig. Keep it.
There are two options for cloud mining – free and paid. Naturally, many people who are looking for ways to how to mine cryptocurrency will be headed to “free” options, but this has its drawbacks (much slower mining speeds, additional conditions, etc.). Paid cloud mining usually works like this:
You can find a cloud mining host online. You examine the plans that the host offers – these usually have four or five plans, ranging from the cheapest to the most expensive; Some hosts also provide you with the ability to create and customize your cloud mining plan.
Once you know what you want, you just do the transaction (which means you pay to the host), register your cryptocurrency wallet code and thus how you can mine the cryptocurrency Let’s take the first step!
Different plans cost different amounts and last for several periods. Standard plans can go anywhere from $ 500 to $ 5000, and can last from two years to a lifetime.
It is generally expected that you will take a break even at the half year mark – about a year, and then gain from that point on. However, no one can know for sure, because cryptocurrency prices are very volatile and their prices fluctuate greatly.
Method 4 – GPU Mining
GPU mining is probably the most popular and well-known method of mining cryptocurrency. If you google “cryptocurrency mining”, GPU rigs are some of the first things you’ll see.
For example, cloud miners use GPU rigs for their services. And these people are professionals who sometimes have hundreds, if not thousands, of rigs, so they probably know what they are doing, right?
GPU mining is very popular because it is both efficient and relatively inexpensive. Don’t get me wrong, the rig itself gets expensive – but when it comes to its hash speed and general workforce, the GPU mining rig is great.
GPU rigs use graphics cards to mine cryptocurrencies. A standard rig is made up of a processor, a motherboard, cooling, rig frame and – of course – some (2 – 8) graphics cards.
A typical price for a well-performing and well-built GPU mining rig is targeted to be around the $ 3000 price range. This is a huge investment, but will pay off much faster than CPU Minor. People looking for ways to mine cryptocurrency should investigate them.
Cryptocurrency mining software
- Genesis Mining
How Much Money can You Make GPU Cryptocurrency mining on PC?
Crypto mining on pc with the CPU is possible with coins such as Monroe, Zcash, and Byte, but it will be a slow process and the cost of electricity can exceed the value of the coins you can afford. For those who want to get more serious, GPU mining is a realistic route. GPUs such as NVIDIA GeForce RTX 3060 and AMD Radeon RX 5700 XT are popular options.
GPUs range in price from as low as $600 to $2000 and up. The reason for the difference in prices is performance. For GPUs it is related to their maximum hash rate. In simple terms, hashrate is the amount of power / speed / computation that a GPU unit can apply to the mining of a cryptocurrency. The hash rate is expressed in ‘million hashes per second’. So 1MH / s is one million hashes per second. Low-cost GPUs typically have low hashrates. CPUs on desktops and laptops still have low hash rates, and are measured in thousand hashes per second as opposed to millions – hence TH / S.