XMR or Monero is a cryptocurrency based on the CryptoNote algorithm which ensures safe and secure transactions. This currency has successfully resolved the recurrent issues that Bitcoin users were evidently facing. Invented in April 2014 under the name BitMonero, this cryptocurrency primarily focuses on decentralization, scalability, and privacy. At the moment, no ASIC support is required for Monero mining. This clearly implies that any individual can mine this cryptocurrency with his or her personal computer. Monero works on the Proof-of-Work algorithm in order to secure the network. This PoW cryptocurrency is based on a blockchain technology and easily runs on Mac, Android, Windows, Linux, and FreeBSD. There are plenty of benefits of mining Monero. One of the most common and affordable methods to mine Monero is to join a mining pool. You may very well opt for solo mining, but if you are running out of budget and at the same time, want to be a part of this fast growing community, then mining in a pool is the best option for you. The Monero community has a long list of reliable Monero mining pools from which you can easily choose. Make sure you start with a small mining pool in the beginning so as to get higher hash rates. Cloud mining is also a smart way to mine cryptocurrencies these days.
Since Monero does not support ASIC devices, you are only left with two possible options- CPU and GPU. Monero's CryptoNote protocol makes mining a universal process and even a technically challenged individual can partake in the same. It is interesting to note that XMR mining protocol reduces the efficiency gap. Thus, the performance gap between GPU and CPU devices is not at all glaring like other cryptocurrencies. Evidently, ASIC devices for mining Monero are very expensive, which is turn negates the possibility of centralized usage as in the case of Bitcoin.
To earn good profits, it is better to start off with cheap CPU devices. It is always better to invest in fewer yet stronger devices which provide a better hashing rate. Some of the good options are Intel Xeon E7-8880v3, Intel Xeon 2xE5-2680v2, AMD FX-8320, AMD FX-8350, AMD Opteron 32×6276, AMD Opteron 6272, AMD Opteron 4×8389 and Xeon L5640.
When compared to CPUs, GPU seems to be a better option. These are comparatively affordable but provide better hashing rates than CPUs. Some reliable options are XFX Radeon 7990, XFX RX470, AMD Radeon R9 390, Nvidia 750 TI, Sapphire RX480 Nitro+, Sapphire Radeon R9 290 Tri-X and AMD R9 280X.
Mine Monero with Three Easy Steps
To start with, do the registration first. It will take only 2-3 minutes
Secondly, choose your purchase plan and proceed for the payment
Now, it’s time to receive your newly mined coins
Mining XMR with HashGains has never been so easy! All you have to do is create an account, make the payment and participate in the mining process. Once you reach the payout limit, you can transfer your freshly mined XMR coins to your Monero wallet. Avail this great opportunity to be a part of the biggest mining process and get huge return of investments.
Monero is one of the top 10 of cryptocurrencies in the world with regards to the market capitalization. Monero mining can be a profitable undertaking owing to its algorithm that is essentially ASIC resistant. Thus, anyone having a CPU or a GPU can opt for Monero mining. At the same time, the consistent increase in its market price makes it a lucrative venture.
There are plenty of cloud mining service providers that offer best-in-class mining services with state-of-the-art equipment at competitive prices. To mine Monero through cloud mining, you do not have to buy an equipment or spend on electricity charges. You simply have to buy a competitive hash rate and you can start mining. HashGains is one of the leading cryptocurrency cloud mining service providers in the world. With feasible access to the latest technologies and the green mega data centres which are specifically designed for cryptocurrency mining and makes use of renewable sources of energy like solar panels and wind power, HashGains provides excellent mining services at the best possible price. HashGains’ mining server simplifies the XMR mining process and provides the newly mined coins in the easiest possible way.
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Monero or XMR runs on the CryptoNote protocol which relies on privacy-based Ring Signatures. Monero is a proof-of-work currency and may be mined using a CPU device on any general computer.
Monero or XMR is a privacy-based cryptocurrency that runs on the CryptoNote algorithm. Miners can use a set of easily accessible and affordable GPUs such as Sapphire RX480 Nitro+, AMD Radeon R9 390 Nvidia 750 TI and XFX RX470 to mine Monero.
A Monero mining rig is basically a computer system that is used for mining XMR. Basically, a network or setup made to mine cryptocurrencies, it totally depends on how perfect a rig you make. The more money you will put in, the more you will earn, because utilization of power and electricity do bind you from earning what you desire for. You can mine XMR using GPU mining rig which consists of fewer but powerful GPU devices with good hashing rates.
Pay Out refers to the minimum amount that you need to earn as reward points for successfully setting up blocks during the mining process. For Monero, this minimum amount is $250 or 0.5 XMR.
The term ‘pool mining’ refers to a mining procedure wherein a multitude of generating clients together contribute to the formation of a block, and then divide the mining reward among themselves as per the contributed computational power. Some of the popular Monero Mining Pools are supportXMR.com, xmr.nanopool.org, xmrpool.net, monero.hashvault.pro, xmr.suprnova.cc, so on and so forth.
DISCLAIMER
Kindly notice! Hashgains do not give you any trading advice. Before availing our services, do your research and get answers to your questions in order to find out whether cryptocurrency mining is legal in your state, country, province or not.
