A complete guide on Ethereum mining
Mining is the extraction of cryptocurrency using computer calculations. Mutually beneficial process: miners keep the blockchain network up to date with their calculations, and the network pays them a reward for this. Most often, mining of Bitcoin and Altcoins is considered.
Like Bitcoin, Altcoins (ETHW, ETC, RVN, ERGO, XMR, NEXA, KASPA, IRON FISH, CFX) are based on blockchain technology and allow their owners to make payments.
Interest in altcoins is shown not only by large companies and investors but also by miners — ordinary users like you and me.
How profitable the mining is?
You can calculate the profitability and hashrate of your graphics card during mining in the Kryptex mining calculator or look in the table of the best graphics cards for mining.
How to start mining
Let's move on to the most important thing — to mining.
What do you need for mining?
Here is the list of minimum required tools for mining:
- The computer with at least one Nvidia GTX 1060 or AMD RX480 graphics card or better. For profitable mining, we recommend 2060 Super or 3060 Ti.
- The Miner.
- The Pool you are going to mine with;
- In case you want to mine on a pool, you will also need a wallet for the coin you are mining. If you mine with Kryptex, you don't need a wallet.
Mining in Kryptex
Mining with Kryptex is very easy!
- Download the app here: www.kryptex.com;
- Install the app and pass the benchmark;
- Let if work.
That’s all! Kryptex will do the rest itself. Once you will reach 1$ (+fee), you will be able to withdraw the earned money.
Mining on the pool
Choose the mining pool
Choosing a mining pool is not easy, but we have already compared all the mining pools for you. So, make an informed pool choice.
Kryptex has its pools with a minimum fee for mining cryptocurrencies Ethereum Pow, Ethereum Classic, ERGO, Monero, Ravencoin, NEXA, KASPA, IRON FISH, CFX: https://pool.kryptex.com/
Here, we have detailed instructions for you to start mining on Kryptex pools.
Wallet
If you decide to mine on the pool, you must get a wallet to store the cryptocurrency. Any wallet is suitable for mining.
How to create a secure crypto wallet? We tell in our article!
Choose a miner
Mining requires a particular miner program. Each miner has its characteristics. For example, some miners only work on Nvidia cards, and some only on AMD cards.
To choose the most convenient and profitable miner, you need to download all of them, configure, run and compare income. All these things may take a lot of time. However, Kryptex does all this automatically.
All the most popular miners already exist in Kryptex. In addition, the benchmarking system selects the best miner with the highest profitability for each of your cards!
Here is the list of the most popular miners, if you wish to configure everything yourself:
You will need to create a configuration file for the miner. The configuration file is a .bat file (batch file) used for mining. Check our article on how to make a BAT-file.
What equipment to choose for mining?
A mining computer does not have to be the most powerful. But some components should be given special attention — a graphics card (GPU) and a power supply unit (PSU).
Graphics cards
The essential thing in mining is the graphics card. Fast memory is vital for a GPU, and the more memory it has — the better! For you to be able to mine different altcoins without restrictions, we recommend graphics cards from 8 GB.
The second criterion is the mining speed — the hashrate. It shows how many cryptographic operations the card performs per second. You can check any GPU hashrate in the table of the best graphics cards for mining.
New GPUs from AMD and Nvidia are perfect for mining.
- AMD RX 6700 XT, RX 6800, RX 6800 XT, RX 6900 XT
- Nvidia RTX 3060 TI, RTX 3070, RTX 3080, RTX 3090
Do not forget about the old, but still relevant GPUs:
- AMD RX 570 8 GB, RX 580 8 GB, RX 590 8 GB, RX 5700, RX 5700 XT
- Nvidia GTX 1660, GTX 1660 Super, GTX 1660 TI, RTX 2060, RTX 2060 Super, RTX 2070, RTX 2070 Super, RTX 2080, RTX 2080 TI, RTX 2080 Super
Power supply for a mining rig
Pay attention to the power supply unit. You should not try to save on it, even if only one GPU will mine. If you are building a rig (a computer specifically for mining, with several graphics cards) — you can use a 1000-1200W PSU or two PSUs connected via a synchronizer.
How to calculate a power supply for mining?
- Summaries the power of all graphics cards in your computer. We advise to use the maximum power consumption.
- Add about 100 watts to the CPU, motherboard, hard drive, and peripherals. This parameter may be higher if you have a powerful processor and several disks.
- Multiply the received result by 1.25 to take into account the efficiency of the power supply unit.
- Choose a power supply that can provide you with the power you need.
Calculation example:
Let's say you have a computer with two graphics cards. Summaries the powers:
- Nvidia GTX 1660 Super — 125W
- Nvidia RTX 2060 Super — 175W
- CPU, motherboard, disk — 100 W
Total power — 400 Watts.
Multiply by 1.25 and get the minimum power supply — 500 watts.
Motherboard
Ypu can choose any, with support of multiple graphics cards. If there are not enough PCI-E ports, GPUs could be connected via risers. We have written for you an article on choosing a motherboard.
Processor
The processor's power is not vital for GPU mining. Any modern CPU will be acceptable. You can safely take the budget Intel Celeron / Pentium or AMD Athlon. We have written for you an article on choosing a processor.
RAM
4 GB will be enough. You can ignore the memory frequency if you are not going to mine with a CPU. If you still want to mine with a CPU, then you must definitely follow the dual-channel mode and a frequency of 3200 MHz and higher.
HDD
Any will be acceptable, but we recommend an SSD for fast boot of the operating system. There will be enough SSD for 120-240 gigabytes.
Overclock the GPU to increase profitability
Why overclock your graphics card? To increase your profit!
Usually, MSI Afterburner is used for overclocking. It is universal, suitable for any graphics card, and allows you to adjust the core and memory frequencies and set the power consumption limit and fan speed.
How to overclock?
Most altcoins depend on the GPU memory frequency and do not use the core to its total capacity. The miner's task is to increase the hashrate and income by reducing electricity consumption and heating.
Overclocking could be done in three steps:
- We overclock the GPU memory frequency until the computer starts to reboot or freeze.
- Reduce the core frequency and power consumption limit until the hashrate and profitability decrease.
- Set the fan speed so that the temperature does not exceed 70 degrees during prolonged mining.
This is a basic overclocking technique that will suit almost any miner.
Kryptex has already taken care of everything! Use our overclocking database to find the best overclocking for your graphics card.
How to withdraw cryptocurrency and get real money?
Ok, you have mined some crypto, but how to turn it into real money?
Kryptex solved this problem: withdraw in USD, EUR, RUB, UAH, or KZT to your card or cryptocurrency — as you like!
If you mine on pools, or you store and withdraw in cryptocurrency, stock exchanges and online exchangers will help you.
- The most common way is to withdraw through the P2P exchange service, for example Binance.
- On Bestchange you can find many exchangers that allow you to withdraw cryptocurrencies to any cards and wallets in any currency.
We wrote an article how to exchange crypto into any currency you like!
🤯Too complicated?
Don't want to register wallets? Trading on the stock exchange seems complicated and risky. Do you want easy and understandable two-click mining with simple payouts?
Register on Kryptex!
- Easy two-click mining with Kryptex Pro (Windows).
- Mining directly to Kryptex account.
Can’t choose the mining method?
Our friendly community and professional support will be happy to help you!
Contact us via website support, the private message on Telegram, or ask for help at our Discord.
