Cryptocurrency mining is how new digital currencies get released for circulation. Miners make this happen by recording and verifying blockchain transactions.
Blockchain transactions are verified by a process that solves mathematical equations. When miners successfully verify and process these transactions, they get rewarded with new coins.
With bitcoin mining now done on a large worldwide scale, it is not possible or feasible to mine bitcoin on a personal computer. However, there are other cryptocurrencies that can still be mined on a computer. The following are the three most promising coins to mine own your PC.
Dogecoin
Dogecoin is a meme-based digital currency. To mine Dogecoin on a PC, you first need to download its desktop wallet. You can do this on the Dogecoin website. For security purposes, you will need to encrypt the wallet once downloaded.
Dogecoin can be mined using a CPU; however, it is better to use a graphics card to achieve best results. An AMD card is the best option, but an NVIDIA card will also work.
The best software for mining Dogecoin with a GPU is CudaMiner, CGminer, and GUIminer. When mining with a CPU, you can use the CPU miner. This can be downloaded for free.
To get the highest returns by mining Dogecoin, it is advisable to join a mining pool. The Dogecoin website explains: "You are basically searching for blocks, then solving and confirming the block as a reward. The first to find and confirm the block gets the full payout of that block and everyone else has to move on. Stronger hardware = faster searching and confirming."
Two options for Dogecoin mining pools are MultiPool and CoinEx.
Monero
Monero is regarded as the most advanced anonymous digital currency. Monero works with CryptoNight, a proof-of-work (PoW) algorithm. CryptoNight is specifically designed to make it hard to mine Monero with ASICs. As a result, it is relatively easy to use a PC to mine Monero.
To mine Monero with a CPU, you need to download the Monero mining software. However, you can increase your earnings by using a graphics card which will allow you to mine more Monero.
Like Dogecoin, an AMD card works best but an NVIDIA card will also do the trick. The recommended mining software for Monero includes Guiminer and MultiMiner. To securely store Monero coins, you must download the Monero desktop wallet.
Vertcoin
Vertcoin is the newest of these three altcoins. It also operates by using a proof-of-work algorithm. Like Monero, it was designed to prevent ASIC mining.
Vertcoin is a One-Click-Miner and is easy to operate. Vertcoin is a graphical user interface that can be mined by using a GPU or CPU. After downloading the Vertcoin miner, you pick a mining pool compatible with your computing power.
For users with two or fewer graphics cards, the best option is network 2. For users who have larger hash rates, network 1 is the recommended option. The next step is to insert your hardware. NVIDIA and AMD are the only cards that work with Vertcoin.
Conclusion
If you use the correct software and hardware, it is feasible to use your PC to mine altcoins. To keep your investments secure and in order, there are guidelines you need to follow. If you are mining with several graphics cards, you will need extra fans to prevent overheating.
You also need to continually update the software you are using. Digital currency wallets, mining software, and mining pools update on occasion. This will enable you to mine efficiency while also reducing the risk of cyber attacks or fraud.
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Bytecoin is a also a good option in my opinion.
Just started mining bytecoin earlier this week. It seems promising to get some and hold. But monero is way more profitable for now
Very good bro .. I like your post .. it help me to learn some good tips and lots about Bitcoin @bitcoin-journal
Great post
Keep posting
And upvote me
Great information! Thanks for posting!
nice good vary good
Why are these the best? They are not most profitable. You can find most profitable coin for your graphics card on http://whattomine.com
basically every bigger cryptonight coin is good for pc mining because your processor is able to mine it too, not only your graphics card. Go with Electroneum, Sumokoin or bytecoin :)
I keep hearing alot of talk about electroleum but why mine that when monero is where the money is at? I'm mining bytecoin right now just to get some and hold but will be switching back to monero once I got a decent amount of bytecoin
electroneum is going big :) 2 exchanges coming up and lots of global partnerships
Loved the post buddy, I'm hodl'ng Doge but after this post I am now looking to mine!
Love it, thanks!
Thanks alot for the post but i still dont understand the mining process is it like a survey or what and whats the viability and profitability of the process. I use an intel video card of 4gb and 512mb dedicated
Mining monero currently is no longer profitable. The difficulty has increased tremendously because of lot people mining. So, is mining vertcoin. But mining ethereum currently is perfectly profitable.
This is an informative guide for those who would like to experiment with crypto mining.
Another great post, thank you.
Nice Post! Nice and simple for new miners. I'll vote that up for sure!
If only there wasn't the problem of a GLOBAL shortage of available "high end" video cards.
One GTX 1080 will mine about 3 dollars CAD per day and will cost about 50 bucks a month in electricity. (it's about 5 bucks a kilowatt where I live) So I make 40 dollars per month from a "One Card Miner" at current btc rates using Nicehash miner.
That's why I am going to mine more "Burst Coin" It is still cheap to buy hard drive space and the coin itself is also very low priced. If "Burst" takes off it will be the coin to mine.
I am also gearing up to be a EOS miner but that one is gonna cost a lot to start up. Minimum 100 Ethereum to be a "block producer" for EOS. Still, I am trying to raise the capitol to do it. Hey sounds like a crowdsales' com'in!
Nice information. The question is though, is it profitable ? And how long to make reasonable $$$ mining with a CPU ?... I am not holding my breath :-).
Awesome! I've been looking for a post just like this one! Not sure which one of the three I'm going to mine... maybe vertcoin... Could you recommend which one you think is best? Please :D