Monero (XMR) is one of the most promising cryptocurrencies that appeared in the spring of 2014. She was able to become attractive to miners thanks to her unique properties that were laid down in the development process. For example, the CryptoNote protocol used in bitcoin was supplemented by the CryptoNight algorithm, which made the coin even more protected from possible theft. But the main feature is ring signatures, which make it impossible to track a particular transaction within the system.
XMR Course
Before we figure out how to mine Monero (XMR), we suggest paying attention to a chart that clearly demonstrates how the rate of this cryptocurrency has changed. In the summer of 2016, the record value of the coin did not rise above one dollar. In early 2017, a rapid pump began.
Today, people who know how to mine Monero sell coins at a price of $ 95-97. XMR capitalization is about $ 1.5 billion, which allowed it to enter the top ten most expensive cryptocurrencies in the world.
How to mine Monero on a graphics card
The most efficient way to mine XMR coins is to use the processing power of the video card. There is no need to buy expensive equipment, such as Asik-miner, as it is intended for mining other cryptocurrencies, which 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 less than 1050).
In order to increase profitability, many miners collect the 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 bunch increases the computational ability many times, however, it consumes an order of magnitude more energy. Also, such designs 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 that process more information, consume less power, and also have a good active cooling system. For the AMD video adapter, the mining program is Claymore AMD GPU, and for the GTX, Tsiv Nvidia GPU.
Users who have studied the basic techniques for increasing the volume of 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 processor
If you do not have a powerful graphics card, then you can start mining XMR using the processor installed on your computer. This is a less expensive way in terms of electricity consumption, but the income from such mining will be significantly 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, since it allows you to fine-tune the 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 computing old computer, which will be practically useless. To do this, you can use the service of the so-called "cloud mining". You just need to rent the necessary number of capacities that can be directed to the production of a particular crypto coin. In our case, it is Monero.
In addition, you get a number of advantages compared to conventional mining:
- No need to search for the necessary equipment for the purpose of its further purchase.
- You do not have to assemble and set up a farm yourself.
- There is no reason to worry about turning off the lights or the Internet.
- In your apartment there will be no annoying noise from working video cards, which also emit quite a lot of thermal energy.
- You do not have to run around the service centers, as nothing breaks and does not freeze.
- You can safely go on long trips or business trips without looking among friends and relatives 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 bill for consumed electricity will remain unchanged.
Best Services for XMR Cloud Mining
As you can see, this type of mining has a lot of advantages. However, it is worth taking a very serious approach to the choice of a particular platform that offers its facilities for rent. Since there is an unprecedented stir around the cryptocurrency, dishonest entrepreneurs try to deceive unsuspecting users in any way. 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 ability 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 engage in Monero mining, you need to have your own wallet, to which earned money will be transferred. The safest way is to download it from the official Monero website. However, the file weighs quite a lot, and understanding the principle of its operation will not be easy even for an experienced PC user.
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.