Program for working with bitcoins. Bitcoin mining programs

Cryptocurrencies have become a common means of making online payments and accumulating savings. Unlike regular currencies, crypto coins can be earned by personally participating in the system. Therefore, bitcoin mining programs that allow you to mine cryptocurrency on your own computer have become one of the most popular applications.

The essence of bitcoin mining

Cryptocurrency transaction data is stored in an open ledger - the blockchain. The SHA-256 algorithm, which forms the basis of the Bitcoin network, provides for the protection of records with cryptographic keys (hashes). Each of them contains information about the current operation and the previous block of data. Calculating hashes requires a lot of CPU time, and this figure increases as the system develops. The search for keys is carried out by system participants who join into pools to carry out joint calculations. For each new hash, the system issues a reward in the form of issued crypto coins. This process of earning cryptocurrency is called mining.

Working in a pool is more productive than working alone. The resource distributes the computational task between participants, and the funds received for successfully solving the problem are divided in proportion to the effort expended, regardless of whose computer was the first to find the correct hash.

To work with the pool and calculate hashes according to a given algorithm, specialized software for bitcoin mining is used. Applications use a central processor, video card, or the power of a specialized device for bitcoin mining - ASIC. The latter are characterized by maximum energy efficiency and a high performance-to-price ratio of the equipment.

The least popular programs are for “mining” coins using processors. They can be installed on laptops and desktop PCs, but the low performance of the CPU cannot compete with the capabilities of video cards and ASICs. The earnings received may not even cover the cost of electricity, not to mention the return on investment in the purchase of equipment.

Working with mining software

Installing a Bitcoin mining program is not difficult on any of the supported operating systems. The main thing is that the application supports the hardware installed on the computer. During the mining of crypto coins, the processor’s capabilities are used at 100%, and its temperature can reach 90 degrees. Therefore, it is necessary to monitor the basic operating parameters: temperature, fan speed, memory and processor bus frequencies. To do this, in addition to the program for mining bitcoins, you need to install monitoring applications such as CPU-Z, GPU-Z or analogues. Additional protection can be provided by setting the BIOS to automatically shut down your PC when it overheats. This will save your equipment in case of cooling problems.

Profitability directly depends on the hashrate that your equipment can provide. Bitcoin miners can be installed even on old computers. But some pools may simply not accept participants whose equipment does not meet the minimum requirements. Even if you manage to participate in mining by installing a Bitcoin generator on an old laptop or even a smartphone, the Satoshi you receive will be too few. If you want to make money, you will have to invest in expensive equipment. On slow PCs, it is only possible to mine some unpopular young cryptocurrency, the difficulty of mining which is still low.

The ratings of bitcoin mining programs according to different experts and specialized resources are somewhat different. Let's look at several leaders in this segment, who occupy top positions in most ratings.

50Miner

One of the best applications that allows you to do this, 50Miner, is a graphical frontend for several Bitcoin and Litecoin miners. The program interface is presented in Russian, so it can be considered the best application for beginners. The settings are intuitive and do not require reading lengthy mining manuals. You need to select a pool, the number of threads and a specific device (GPU or CPU) that will be used to calculate hashes. There you can also set the temperature to turn off the PC, the target temperature and other mining parameters.

Features of working with 50Miner:

Simple authorization. It is enough to enter a login with a password, and not go through complex verification in the system.
Work without installation. The program can be carried on a flash drive and run on any available device, making it a mobile work tool.
Saving data. Authorization and application settings are saved in the configuration file, so you don’t have to worry about losing data and don’t have to enter them every time you start the program or change PC.

The shell works with four popular miners: Cgminer, Poclbm, Phoenix, Diablo. You can choose the most suitable one for your equipment.

You can download it from the official website or from the corresponding sections of the pools.

BFGMiner

The application refers to console clients for bitcoin mining. This software consumes a minimum of system resources and is highly stable. Its advantages are as follows:

BFGMiner is suitable for experienced users and those just starting out with cryptocurrency. It can be downloaded from the official Bitcointalk forum.

Ufasoft Miner

A convenient and reliable BTC miner, which has proven itself to be the most “problem-free” console program. When installing it on a computer, complex settings are not required to adapt to the system hardware. The advantages of this “bitcoin generator” include:

You need to download the application from the official website. This way you will be sure that you will not install a Trojan on your PC.

CGMiner

The best console application for advanced users. It requires a powerful computer or ASIC to work.

The advantages of the program include the following features:

the presence of a built-in function for overclocking video cards of a mining farm;
simple and quick setup of user data and working pool addresses;
maximum calculation efficiency, allowing you to get a higher hashrate compared to competitors;
the ability to fine-tune the farm’s operating modes, which ensures stable operation and ensures that the equipment is not overloaded.

Diablo Miner

Another console program designed for mining bitcoins. Like CGMiner, it requires a high-performance farm and qualified settings before starting work. It cannot be recommended for beginners.

The application was released for three operating systems: Mac OS, Linux and Windows. The advantages of working with this program are as follows:

the application supports the latest models of video cards from Nvidia and AMD;
it is possible to quickly switch video cards and CPU;
worker pools are configured literally on the fly.

GUIMiner

In terms of its capabilities and functions, the application is similar to CGMiner.

With high stability and mining efficiency, the program has the following features:

graphical interface that makes it easier for beginners to work with the program;
ability to work in solo mode or as a server;
a large list of interface languages, including Russian;
automatic detection and display of a list of installed computing equipment;
saving settings into a separate file, making it easier to migrate or configure multiple farms.

Bitcoin Core

The official Bitcoin wallet provides the opportunity to mine satoshi by participating in one of the pools. To do this, you need to connect a third-party kernel to the application.

Benefits of the program:

remote monitoring of farms;
the ability to automatically switch to mining the most profitable currency at the moment;
Availability of a mobile version of the program.

The free version has limited functionality and allows you to monitor no more than 2 farms. You will have to pay from $30 to $800 for a license.

Miner Gate

A universal application that allows you to organize the mining of bitcoins and many other cryptocoins.

Its advantages are as follows:

the ability to solo BTC mining and work as part of a pool;
support for multiple mining algorithms;
Availability of a built-in tool for withdrawing earned funds.

The program begins mining immediately after launch and the process can only be stopped by closing the application. Whether it is an advantage or a disadvantage is up to you to judge.

If we talk about the entire line of mining software, programs with a graphical Russified interface are more suitable for beginners, while stable, high-performance console applications are more suitable for professionals, allowing them to get the most out of the system.

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Cryptocurrency is taking over the world. Instant transactions, anonymous transfers, maximum security - this is all that is only on the surface. Next, users have access to a list: any program for Bitcoin mining can be taken from it and downloaded for free for Windows, which is available in one click. Of course, it’s worth understanding how to work with this software - complete instructions for each option are quite easy to find on the Internet. Pay special attention to this!

So, the blockchain is based on mining - the extraction of “electronic coins”, in which a certain combination is selected that opens access to data blocks. This process would not exist if we removed the interaction of thousands of users. Here mining can be compared to distribution on torrents: everyone participates in the distribution of data and receives a reward for it.

Of course, there is a ceiling here too – 21 million Bitcoins. Interest in cryptocurrency has reached such heights that 2/3 of this amount was mined this year alone. But due to the fact that the algorithm is becoming more complex, it is predicted that the “stock” will only be distributed by 2033. This is why the value of Bitcoin increases every month. If the very first price was $1 or even less, now the figure is several thousand dollars.

What is mining?

The essence of any work in the system for receiving cryptocurrency is the continuous transfer of transaction records to a single database. That is, each miner not only works for himself, but is also part of an open process. Each individual participant receives a certain set of tasks, and he himself also transmits the data further.

Each chain of transactions receives a generated hash, which protects the entire system from various types of substitutions. It is the “solution” of the hash that is the key to closing the block, that is, to the reward. Of course, a lot depends on luck here - you might be able to mine a block in a few days, or maybe in a couple of hours. You can blindly believe that everything will work out easily, but it’s still better to choose the right program and have a strong, productive computer.

The result of a miner’s work directly depends on the power of his equipment. When Bitcoins first appeared, “miners” only needed a computer with CPU power. But the higher Bitcoin rose, the more effort it required. Then video cards came to the rescue, which significantly improved the level of users and the work process as a whole, however, they also lost their effectiveness over time. Now the market has reached a point where even the purchase of the most expensive parts cannot promise a stable income - turnover is increasing, and ordinary miners are required to constantly update their equipment in order to keep their performance competitive. In a word, as soon as the price of cryptocurrency began to rise, it became clear that the funds received do not always recoup the resources spent.

Time has shown that working from one PC when mining Bitcoins is impractical. And then the pools began to spread. In a pool, work is distributed among mining participants, as a single network is formed, the contribution of each in which, in the event of block closure, is rewarded proportionally. Of course, there are solo miners, but a lone miner, and especially a beginner, will take much longer to earn money than a member of a group.

For greater productivity, miners began to create so-called farms: a collection of devices. This is a group of video cards and computers that work on the same system to increase speed. However, this is a very expensive and energy-intensive option. The Chinese are successful in this regard with their approach to looking at things globally. Chinese farms are huge hangars filled with equipment, where each “point” brings in about a million dollars a month. Ordinary users are increasingly turning to so-called “cloud farms,” whose owners sell the power of their equipment.

This experience has become unique - almost nowhere else can you earn Bitcoins so easily. Those who want to get their money in the race for money will not need to adjust their equipment to the standard of powerful home farms, waste time searching for a suitable pool and be online every minute.

All that is required to get started is to study the capabilities of the system and choose the right program. Yes, even with the simplest laptop you can start working in cloud mining, but you need to understand that the issue of power still arises: with low performance, your income will be very small. That is, to get 0.00000010 BTC you will have to spend several hours working.

The processor will still heat up due to heavy load, and the temperature will rise higher. Therefore, it is better to install programs that will monitor the system, which will allow you to realistically assess the chances of success. But we must always realistically take into account the available possibilities. If the PC does not have hardware graphics, all the profits will go to cover the electricity bills. It is also not recommended to run the process on machines with built-in Intel/AMD video cards due to low performance.

Mining programs

50Miner

This is one of the most popular programs for mining Bitcoins. Laconic, user-friendly interface, no unnecessary details that might scare off a beginner. All that is required from the user is to enter his data. 50Miner itself scans the computer and sets the appropriate settings. More advanced users can change them to control the video card parameters themselves. The settings are immediately saved in a configuration file, which ensures data protection. There is also the possibility of interaction with other miners.

BFGMiner

A more advanced command line program. It is suitable for both those who have spent money on an expensive ASIC integrated circuit, which is responsible for adding blocks to the chain, and for those who have just started mining. The software helps the player select the most accurate configurations, works using FPGA, supports RPC, and allows you to monitor the cooling of the video card. Has greater productivity than its analogues.

Ufasoft Miner

Just like the previous one, the program is a console client. Easy to adapt, it allows you to fine-tune the workflow: you can set the maximum temperature at which the system will stop, or specify the order in which video cards are used. All this is done very easily and quickly, since the utility is as easy to use as possible. Allows you to mine different types of cryptocurrencies.

CGMiner

Another console client, but for more advanced users, so it requires good technology. The program is for those who know at what point they need to increase power (overclock the performance of the video card), and when to reduce speed to avoid overload. CGMiner helps you monitor all processes simultaneously, and is very easy to configure. However, as with any work with the console, knowledge of MS Dos is required.

DiabloMiner

One of the most powerful programs for earning money. But it is quite difficult to use, and it will be difficult for a beginner to understand it. If you know how to use it, the software will bring good, stable results. DiabloMiner allows you to quickly set up pools. Works with both Windows, Mac or Linux!

Conclusion

From all sides it is heard that cryptocurrency is the future. As you can see, becoming a participant in the process is not particularly difficult, you just need to soberly assess your capabilities - whether your equipment is capable of full-fledged work on mining blocks, or it will be easier to work through cloud mining. However, you have to try, because there is nothing to be afraid of, and the system is absolutely safe! Perhaps Bitcoin mining is exactly the type of income that you will like!

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Programs for mining cryptocurrency (in particular Bitcoin) must be selected individually, depending on the capabilities of the PC and the installed operating system. I have already told you in the Bitcoin mining article what this process is. Let us briefly recall the main points.

1. What is the essence of mining?

The essence of cryptocurrency mining is that independent PCs located in different parts of the planet perform various tasks in parallel, as a result of which a new block is generated in the Blockchain, and the one who solved this block is entitled to a fixed reward in the form of the cryptocurrency that is mined.

A new block appears only as a result when one of the participants is able to provide the required Hash. The chances of finding the right Hash are very small when mining solo. Therefore, users unite in so-called mining pools (joint mining turns out to be more productive) in order to somehow predict their income.

Depending on the number of miners, the difficulty of mining hashes is automatically adjusted and thereby achieves a certain frequency of appearance of new blocks. For example, for Bitcoin this is 1 block in 10 minutes.

3. The best programs for mining on a computer

3.1. NiceHash service program

This service has a MinerGate program with which you can mine Ethereum, Monero, ZCash and other coins. Payments are made in the cryptocurrency you mine.

There is one important requirement for the operating system: it must be 64-bit only.

There is a special “benchmark” option that will allow you to get information about the capabilities of your hardware and mine only what is most profitable.

3.3. CGMiner program

CGMiner is a console client designed for mining. Designed for use by experienced users; a powerful PC will be required. Currently available version is 3.3.1. The advantages of working with the program include the following:

the ability to support the overclocking function of a PC video card;
easy setup of pools and user data;
possibility of obtaining the maximum MH/S value;
you can easily configure the operating mode of the system, which will therefore allow for ease of operation of the equipment and the absence of possible overloads;

https://bitcointalk.org/

3.4. BFGMiner program

The BFGMiner program is a console client designed for mining. Currently version 3.1.1 is available. The advantages of working with the program include the following:

the ability to support mining on video cards;
ability to support mining on FPGA devices;
the ability to control the rotation speed and operating frequencies of the PC fan;
ability to support scrypt, RPC;
ease of setting up pools;
the ability to configure a PC depending on the required operating conditions of the system;

The program will be an excellent solution for both novice miners and professionals.

You can download the program on the forum https://bitcointalk.org/

3.5. Ufasoft Miner program

The program is a console client designed for mining. Easily installed on a PC, does not cause problems in settings and adaptation. Currently version 0.33 is available. The advantages of working with the program include the following:

in addition to Bitcoin mining, the ability to support Roll-NTime, TeneBrix, SolidCoin, BitFORCE is available;
the ability to set variable data for using a PC video card;
the ability to set the maximum stop temperature, which by default is indicated as 83 degrees Celsius;
setting up and changing password and login information;
the ability to change the number of cores and threads;
Pool address change function;
enabling or disabling support for “Long-Poling” parameters, with the default value of the “Verbose output” mode being entered;
it is possible to easily configure the working elements of the program, which will allow the most practical implementation of system management functions;

You can download the program on the official website http://ufasoft.com/

3.6. DiabloMiner program

DiabloMiner is a console client designed for mining. Designed for use by experienced users, you will need a powerful PC, in particular a video card. The program is currently available for downloading for systems running Windows, Linux, and Mac. The advantages of working with the program include the following:

ability to support video cards of the 79.. series, as well as Nvidia, starting with the 8... series and higher;
setting up worker pools;
the ability to configure switching between the operation of the video card and the system processor;

You can download the program on the forum https://bitcointalk.org/

4. What affects mining profitability

The profitability of mining depends on several factors. Of course, the most important factor is the equipment used to extract it.

For example, the following factors affect the performance of a video card:

Video memory capacity
Memory speed
Bus width (it is better to choose a 256-bit bus)

Naturally, the better the parameters, the greater the Hashrate.

Also, video cards are characterized by cooling and overclocking capabilities. For example, you can increase the speed of a card by 30% without significantly reducing its resource.

The second very important point is the actual software used for mining. For example, one program may be a much better fit than another. More precisely, the hashrate will be different.

For example, if you install a bare Linux system and assemble a mining program yourself (the source code is there, so all you have to do is assemble it), then in this case you can expect maximum returns from mining. This way you can win +10..+30% additional bonus.

The third factor can be identified which specific coins to mine. For example, one coin may be several times more profitable than another in terms of mining. For one they pay $1 per hour, for the other $0.3. As you can see, the difference is three times.

The significance that digital money has in the global financial arena is undeniable. They are accepted by major exchanges, and many people have been able to build successful businesses based on them. Virtual funds are generated by using the computing power of one or a group of farms. The processing of data layers is carried out by mining programs. The only condition that must be met before collecting crypto is to register an electronic wallet with the required currency.

The principle of mining is quite simple: many devices, unrelated to each other and located in different parts of the globe, perform mathematical operations. The result of this activity is the creation of new tokens of one or another electronic currency. To increase efficiency, miners join together in pools.

You need to work with electronic payments, which are saved in the transaction during processing. The data log is available to all pool members. Using the chain, miners receive all the necessary information. The main goal is to select a unique hash function, which is a kind of key or combination for carrying out new operations. Whoever “finds” it first can receive a considerable reward, but there are a huge number of competitors in this business. After guessing the hash, the transaction block is closed by the system.

Special mining programs installed on a personal computer and “pulling” its power are called upon to assist in the implementation of this entire process. The least popular applications are those that use the CPU to complete tasks, since in reality this method does not give the desired result. In the second case, the software “exploits” the power of the video cards, which gives a greater effect, and they also don’t get so hot.

First, you will have to calculate the amount required for investment, as well as the period during which it will be repaid. To do this, you need to familiarize yourself with the current rate of digital coins and the effectiveness of the equipment that you are planning to purchase. All the necessary information is on thematic sites. In addition, the algorithm used by the cryptocurrency plays a significant role:

Ethereum runs on the Ethash protocol. The most effective are AMD ninth series video cards or tenth series adapters from Nvidia. The algorithm places considerable demands on the amount of video memory, frequency and timing, but does not heat up the graphics cards much. It is possible to simultaneously mine Ether on its protocol and some other coin with low intensity. The adapter must have at least 2 gigabytes of video memory.
Monero mining is carried out using the CryptoNight algorithm. Founded in 2014 and compatible with any AMD video cards starting with HD5000. For effective mining, you will need to overclock the video memory frequency, since the protocol is particularly demanding on it. You can use Nvidia, but the performance will be much lower. The AMD driver must be 13.12. During operation, video cards practically do not heat up.
Launched in 2016, Zcash uses the Equihash algorithm. Suitable for both Nvidia and AMD. In the first case, the initial series is GTX700, in the second, R9 270. Overclocking the video memory frequency will be required. Also a little demanding on the GPU chip frequency. Low degree of heating of video cards.
The LBRY project started in 2016. It practically does not heat up video cards and is suitable for Nvidia.
SiaCoin runs on the Blake2b algorithm. Launched in 2016 and is suitable for new adapter models from Nvidia and AMD. During operation, graphics cards are not subject to excessive heat.
Various algorithms since X11. It is worth noting that ASIC devices were invented for these protocols, which reduces the benefits of mining tokens on video cards. Previously, it was better to mine on AMD adapters, but the latest generation of cards from Nvidia has not only narrowed the gap, but has also surpassed competitors in performance. Characterized by increased heating of video cards.
Scrypt algorithm for Litecoin cryptocurrency. This protocol became the first “competitor” to SHA-256, on which Bitcoin “lives” and develops. Founded in 2011 as an algorithm capable of resisting ASICs. However, the appearance of these was not long in coming, and therefore for about 3 years now, mining with video cards using this algorithm has been unprofitable. The best option was to use devices from AMD. During the computing process, video cards from any manufacturer get extremely hot.

Any of the above algorithms will suit your needs, but you will need a little time to learn the process. In addition, to truly earn money, you need to use only the best mining programs. However, given the current growth of cryptocurrency, such a business is becoming quite profitable.

Initializing the program is not difficult; it is important to take into account the capabilities of the system and select the most suitable version of the application. In order for the work to bear fruit and achieve the required quality, it is advisable to install software equipped with an automatic compatibility check function. It should be remembered that during the operation of a program that uses the processor, the temperature of the latter can reach 95 degrees.

Also an important condition for making money will be powerful software required to successfully compete with other miners. A laptop can bring in about 0.00000020 BTC in at least 3 hours of work. Of course, this is very little, but as the system performance increases, the number of Bitcoins will also increase.

BFGMiner. An ideal option for beginners - the application is quite convenient and easy to use, which will allow you to quickly get used to it. In addition, it is used by professional miners. The main advantage is compatibility with video cards or processors, which indicates the versatility of the program.

Setting up pools is quite simple, and the software supports scripts. By setting the cooler speed, you can quickly cool the hardware during active operation. This program will allow you to set your computer to the necessary mining conditions.

50Miner. Works with many cryptocurrencies, among which the recognized leaders are Bitcoin and Litecoin. After registration, the application will be ready for use. Each time to start, just enter your login and password. The key advantage is the ability to mine without installing a program, and the settings that you specify during the registration process will be saved.

Your data will be saved in files, which will allow the parameters not to be lost every time you open the program. The software is used by both beginners and experienced miners. The currency extraction itself occurs using a video card.

Ufasoft Miner. Very easy to set up and easy to use. You can find it only on specialized sites. The most significant advantage is the ability to set the maximum temperature of the device. After its indicator exceeds the values you set, the process stops and the system begins to cool.
. A fairly well-known application in mining circles. Most often, only experienced users who have a wealth of certain skills and abilities work with it. Suitable for high performance equipment.

Among the main advantages is the presence of an option to overclock the video adapter in order to mine more digital money. Does not require long setup for a specific pool. During operation, it productively distributes the available resources of the device, producing a good hashrate.

DiabloMiner. A good console client that supports all currently available versions of operating systems. It is also characterized by an extensive toolkit. Other advantages of the software include quick setup and the ability to mine cryptocurrency on processors or video cards. Demonstrates high performance indicators.
Phoenix. This mining program is perfect for beginners because it does not require very powerful equipment. Among its advantages is an improved algorithm, through which the application increases hardware performance by 30%. In addition, the software boasts a simple interface. If during the process of mining digital currency the core of the system stops functioning, the program replaces the protocol. Another advantage is the presence of a detailed user manual for the program.
Poclbm. To get the most out of this application, the user should buy graphics adapters from AMD. However, the program is also compatible with cards from Nvidia. The undeniable advantage of the system is that it uses a small amount of RAM. Among the disadvantages of the resource is the creation of a colossal load on the CPU and the need for precise selection of drivers.
GUIminer. This application is very similar in parameters to the previously described CGMiner. In particular, the same graphical shell with which the user can make settings through a convenient interface. The software operates in demo mode or opens in server form. The program supports the Russian language, records the entered parameters in the form of a separate document, and in addition, installs suitable devices automatically.
Bitcoin Core. The application is equipped with its own wallet, which is necessary for storing electronic coins on a local device. The main advantages of the software include a high level of security, a reliable protection system, a wide range of tools and the presence of advanced document encryption, which includes information about the owner of the digital wallet. Taking into account certain technical features of the program, to work comfortably with it you will need at least 100 gigabytes of free space on your hard drive.
. A very profitable and effective application for mining coins such as Bitcoin, Ethereum, Litecoin and others. You can work solo or as part of a pool. In addition to supporting a huge number of digital tokens, the program has integrated functionality that makes it possible to instantly withdraw received funds.

Its key advantage is that it allows you to mine the most popular virtual currency at the moment. It is also worth mentioning the fairly intuitive and simple interface. True, it is only in English.

The disadvantages of the system include the fact that after logging into your personal account, computing activities automatically start. To disable this process, you need to close the application. In addition, an extensive set of functions reduces the overall stability of this mining program. Therefore, if the user intends to use several farms, you should pay attention to other software.

Nheqminer. A good console application equipped with good tools. Allows you to mine the digital currency Zcash. All functions are activated on the command line. Unfortunately, the program archive does not contain a separate document containing detailed information about the commands. Thus, to obtain the necessary data, you have to call for help every time. The downside is the automatic start of mining immediately after opening the software.
Awesome Miner. One of the most famous digital money programs in the cryptocurrency community. Allows you to mine Ethereum, Bitcoin and other popular coins. Among its advantages is the use of specialized assemblies that greatly increase the productivity of the equipment. The application makes it possible to control services remotely, determine priority tasks and monitor hardware performance.

In addition, the software integrates an option for automatic switching based on the profitability of digital tokens at the moment. There is a mobile client for the program, which is also an undeniable advantage. However, the trial version has limited tools and allows you to work with only 2 farms. In order to open full functionality you will need to pay from 30 to 800 dollars for a license.

Undoubtedly, the mining programs presented above have both a whole range of advantages and certain disadvantages. Therefore, you should not focus on just one of them. In addition, the applications are updated literally every day and new tools are added. It is necessary to closely monitor changes in the software, acquire skills and gain experience, and also study in detail the parameters and rate movements of the most popular digital coins. After all, by ignoring these recommendations, you can suffer very serious financial losses. By following them, you can get a very tangible and stable income.

Surely almost everyone who is just starting to get acquainted with Bitcoin wants to mine it on their own computer, and not on a cryptocurrency exchange or something else. We hasten to disappoint you: today this is no longer realistic. Two or three years ago this was possible, but then large investors saw the huge potential for profit from bitcoin mining and invested large sums in the development of specialized chips.

This led to the emergence of specialized devices called ASIC (application-specific integrated circuit), designed exclusively for mining cryptocurrencies. The speed of bitcoin mining using ASICs has increased hundreds of times when compared with regular home computers. Due to the growth in the power of the Bitcoin network, the difficulty of mining cryptocurrency has increased, after which it became impossible to do this on a desktop computer.

Bitcoin mining plant

Don't be upset!

Due to the fact that Bitcoin is open source, independent developers have begun to launch many alternative cryptocurrencies for a variety of purposes. Such cryptocurrencies are usually called forks or altcoins. The developers, when creating their cryptocurrencies, pursued different goals, which is why the forks with altcoins came out differently. Some, for example, allow you to mine more coins or provide higher transfer speeds. Thus, the third most popular cryptocurrency - Litecoin - is also a fork of Bitcoin.

So what's the point of this? It's simple: due to the fact that ASIC chips are released only for a specialized encryption algorithm for mining cryptocurrencies, such as SHA-256 (bitcoin) and SCRYPT (litecoin), some independent developers have released their cryptocurrencies with a different algorithm for which ASIC devices does not exist. This is done to ensure that the network power, and therefore the difficulty of altcoin mining, does not grow to enormous levels. Such cryptocurrencies can be mined on ordinary computers, but we will figure out how to do this and how many coins can be mined further.

Bitcoin mining is not for us, but there are other cryptocurrencies!

So, what is needed for cryptocurrency mining and what, exactly, will we mine? Instructions in several stages:

Choosing a cryptocurrency for mining
Choosing a mining pool
Choosing programs for mining
Setting up and launching mining programs
We withdraw mined coins to your wallet or to the exchange wallet

The mining speed of any cryptocurrency, including Bitcoin, is measured in hashes per second. At the time of writing, the current unit of measurement for mining speed is kh/s (kilohashes per second). You and I need to find out how many kh/s our computer can produce. Mining speed depends on the characteristics of your video card. For example, let's take the NVIDIA GTX 580, the average mining speed of which is 220 kh/s. You can see what speed your video card will produce by following this link.

How do you know which cryptocurrency is best to mine today? Two popular sites will help us with this: coinwarz and whattomine, where we will see summary tables of all existing cryptocurrencies that can be mined, as well as their mining algorithms.

For us, the important indicators are Revenue/Profit (per day), which means “reward/profit (per day)”, and the Exchange Volume column, which means the volume of coins that we can sell on the exchange at such a price in order to get exactly that profit, which we see in the Revenue/Profit (per day) column. We recommend exchanging mined coins for bitcoins once a day so as not to lose profits if the altcoin price suddenly goes down (and this happens quite often).

Choosing a cryptocurrency for mining

So, we have chosen the most profitable cryptocurrency for us, at the time of writing this is Feathercoin (FTC) with the NeoScrypt mining algorithm. We enter our mining speed into the table and we get that we can mine cryptocurrency for 96 cents per day, or $28 per month (excluding electricity costs).

Choosing a mining pool

After choosing a cryptocurrency for mining, we need to find a pool in which we will mine it. Of course, you can mine “solo”, that is, alone, but it is still more effective to join forces with other miners and mine in a pool.

A pool is a site where many small miners come together and jointly mine cryptocurrencies. The more power the pool has, the greater the chances of finding the right block and getting more coins. Pool sites are usually listed on official cryptocurrency websites in the Pool section or on thematic forums such as Bitcoin Talk. The main criteria for choosing a pool are the total mining capacity of your cryptocurrency and the commission.

Choosing a mining program

The most current mining programs today are sgminer and ccMiner.

You can download sgminer for Windows.
You can download ccMiner for Windows here.

Launching the mining program

Setting up and launching a mining program deserves a separate article, which will soon appear on our website.

Install a wallet or register on the exchange

There's one last step left. You will need a wallet into which you will transfer the mined coins. The official wallet can always be downloaded from the official cryptocurrency website, but there is another, simpler option. You find your cryptocurrency on the coinmarketcap website, see which exchanges it is traded on, and choose the one with the highest Volume, that is, trading volume. You register on this exchange, open your personal account, find your cryptocurrency, click “Deposit” to deposit funds, and receive an address for your coins. When you mine the first coins in the pool, you can easily transfer them to your wallet on the exchange. After this, the choice is yours: either you immediately exchange them for a more stable cryptocurrency - Bitcoin, or keep them in the hope that their price will rise. It is also important not to forget about the withdrawal commission: the more often you withdraw cryptocurrency from the pool balance, the more often you pay this commission.

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