News

Your Guide to MinerGate & How to Get Started

0 Comments

Minergate is a multicurrency mining pool where you can mine a large collection of altcoins including ethereum, zcash, bitcoin gold, ethereum classic, litecoin, monero and many others.

One major advantage with multicurrency mining pools like Minergate is the fact that you can switch between mining different cryptos depending on which one is profitable at a particular time.

MinerGate

Well, you won’t have to do the calculations yourself. Minergate smart mining algorithms will do all the work for you helping you rake in maximum profits.

Then there is the Minergate GUI. Don’t freak out. GUI or Graphical User Interface simply means you don’t have to bother about geeky command-line commands. Instead, there are visual indicators and handy icons to help you navigate easily.

Minergate makes it possible to mine ethereum from virtually any computer. Depending on your hardware and hashrate, portions of ethereum block will be sent to you.

Sign Up

Joining Minergate is easy. All you need to do is sign up. Don’t worry if you don’t have a wallet address yet. With the in built address, you can get in and start mining away. Just be sure to take all the precautions to secure your wallet.

Download Software

Next, you will need to download and install the Minergate software. The software will detect your hardware and install an appropriate one.

Easy, now you are ready to start mining. The software will detect your machine and pick the most profitable coin to mine.  In case you are only interested in Ethereum, you need to skip this step and move to the next one.

How to Mine Litecoin with MinerGate

If you want to be more specific, say you want Litecoin mining, you just have to download a miner that supports litecoin mining and connect to the MinerGate pool.  Other options include the MinerGate XMR if you are specific about Monero.

Cryptocurrencies

You will see the “Start Mining” option in the next step. Choose the cores you want to use. If you don’t want to overstretch your miner, you can choose only a few cores. This, however, means a slower hash rate. Wait for the DAG to be created and you are ready to go.

MinerGate Reviews

This is a very popular mining pool going by the many MinerGate reviews online. According to the site, there are about 3.4 million users across the world using the platform.

In case you are stuck, just hit “MinerGate how to mine bitcoin” on your search bar and you will see tons of information. Our guess is that you will find it very easy to figure it out yourself.

MinerGate is not just restricted to altcoins. Ethereum MinerGate and the others are just some of the offerings.  If you think your hardware is powerful enough, you might want to try the MinerGate Bitcoin pool.

Mining pool

As you now know, mining bitcoin solo may be a futile activity. Joining a mining pool like MinerGate gives you a much better shot at finding valid blocks. Rewards are then shared depending on the amount of hash rate you contribute to the pool. The more powerful hardware you have, the higher your profits. For bitcoin mining, you will require an Application Specific Integrated Circuit, specially assembled to mine bitcoin.

The good thing with MinerGate is that you don’t actually have to own bitcoin mining hardware to start. Instead, this is a cloud mining contract where you lease computing power. To do this, visit minergate.com and create a bitcoin mining contract under cloud mining.

Leave a Reply

avatar
  Subscribe  
Notify of
close-link

Risk Warning: Investing in digital currencies, stocks, shares and other securities, commodities, currencies and other derivative investment products (e.g. contracts for difference (“CFDs”) is speculative and carries a high level of risk. Each investment is unique and involves unique risks.

CFDs and other derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how an investment works and whether you can afford to take the high risk of losing your money.

Cryptocurrencies can fluctuate widely in prices and are, therefore, not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Past performance does not guarantee future results. Any trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. Your capital is at risk.

When trading in stocks your capital is at risk.

Past performance is not an indication of future results. Trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. Prices may go down as well as up, prices can fluctuate widely, you may be exposed to currency exchange rate fluctuations and you may lose all of or more than the amount you invest. Investing is not suitable for everyone; ensure that you have fully understood the risks and legalities involved. If you are unsure, seek independent financial, legal, tax and/or accounting advice. This website does not provide investment, financial, legal, tax or accounting advice. Some links are affiliate links. For more information please read our full risk warning and disclaimer.