Choosing the equipment for mining

Choosing the equipment for mining

Once you've chosen a bitcoin, we move on to the next step - what to mine it with?

As I mentioned above, mining Bitcoin requires a lot of money: you will need expensive ASIC-devices that cost several thousand dollars each.

To mine Ether you will need to buy some very powerful video cards, because ETH is not mined on the "asics".

If you decide to mine in the cloud, there is no need to choose equipment, and there is no need to spend money for its maintenance, cooling system, noise isolation, etc. The equipment that you rent is located in specially equipped computing centers, and all worries about its uninterrupted operation are taken care of by the company providing the cloud mining services.

Choosing a pool
In 2020, solo mining is becoming less relevant Mining cryptocurrency on your own PC, which initially brought profit to miners, has become unprofitable

The complexity of mining gradually increased, and the moment came when miners needed to unite. That's how mining pools came into being.

A pool is a server for collective mining.


On the one hand, a miner is not a friend to a miner, but a direct competitor. And on the other hand - by combining their computing power, the participants of the mining pool increase their chances to get the reward. (or rather, part of the reward, because the total amount per block is divided between all pool participants according to the percentage of their contribution to the common task).

But who to mine with? Which pool to join?

When choosing a pool, first of all check whether it works with the coin you are interested in. Also important criteria are:

The power of the pool;


The number of participants;


Deposit and withdrawal limits;


Commissions;


Reputation.
In addition to these recommendations, do not forget that you need special programs such as nbminer. With them your mining will be more productive

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