{"id":427,"date":"2021-07-02T08:49:40","date_gmt":"2021-07-02T08:49:40","guid":{"rendered":"http:\/\/pczippo.com\/?p=427"},"modified":"2023-10-31T17:25:06","modified_gmt":"2023-10-31T11:55:06","slug":"optimal-ways-to-mine-cryptocurrency","status":"publish","type":"post","link":"https:\/\/pczippo.com\/crypto\/optimal-ways-to-mine-cryptocurrency\/","title":{"rendered":"Optimal Ways To Mine Cryptocurrency"},"content":{"rendered":"\n<p>For crypto passionate aficionados, this is the second part of the article, here will share privy on disparate ways to mine cryptocurrency and the best currencies to mine- be the next millionaire in the troop.<em>\u00a0\u00a0<\/em>As cryptocurrencies are touted as the future of finance, and with their mainstream acceptance more and more people are driven to enter the mysterious world of blockchain. Let&#8217;s revise mining in simpler terms; it is a process by which new coins are launched into circulation via solving complex mathematical equations. And individuals who mine the coins are called miners. These miners\u2019 transactions are validated and accepted, then added to a public ledger. Miners are rewarded with compensation for the work.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_68_1 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/pczippo.com\/crypto\/optimal-ways-to-mine-cryptocurrency\/#Ways_to_Mine_Cryptocurrency_From_Laptop_to_Mining_Pools_Equipment\" title=\"Ways to Mine Cryptocurrency: From Laptop to Mining Pools &amp; Equipment\">Ways to Mine Cryptocurrency: From Laptop to Mining Pools &amp; Equipment<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/pczippo.com\/crypto\/optimal-ways-to-mine-cryptocurrency\/#Here_are_some_ways_to_mine_cryptocurrency\" title=\"Here are some ways to mine cryptocurrency\">Here are some ways to mine cryptocurrency<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/pczippo.com\/crypto\/optimal-ways-to-mine-cryptocurrency\/#Is_CryptoMining_Legal_or_not\" title=\"Is CryptoMining&nbsp; Legal or not?\">Is CryptoMining&nbsp; Legal or not?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/pczippo.com\/crypto\/optimal-ways-to-mine-cryptocurrency\/#What_are_the_Best-fitted_pertinent_ways_to_mine_cryptocurrency\" title=\"What are the Best-fitted pertinent ways to mine cryptocurrency?\">What are the Best-fitted pertinent ways to mine cryptocurrency?<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/pczippo.com\/crypto\/optimal-ways-to-mine-cryptocurrency\/#1_Cloud_Mining\" title=\"1. Cloud Mining\">1. Cloud Mining<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/pczippo.com\/crypto\/optimal-ways-to-mine-cryptocurrency\/#2_CPU_Mining\" title=\"2. CPU Mining\">2. CPU Mining<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/pczippo.com\/crypto\/optimal-ways-to-mine-cryptocurrency\/#3_GPU_Mining\" title=\"3. GPU Mining\">3. GPU Mining<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/pczippo.com\/crypto\/optimal-ways-to-mine-cryptocurrency\/#4_ASIC_Mining\" title=\"4. ASIC Mining\">4. ASIC Mining<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/pczippo.com\/crypto\/optimal-ways-to-mine-cryptocurrency\/#Wrap_Up\" title=\"Wrap Up\">Wrap Up<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Ways_to_Mine_Cryptocurrency_From_Laptop_to_Mining_Pools_Equipment\"><\/span><strong>Ways to Mine Cryptocurrency: From Laptop to Mining Pools &amp; Equipment<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Mining is getting more powerful with each passing day! Bitcoin mining has come a long way; now it\u2019s no longer viable to mine a Bitcoin with a laptop. Additionally, the whole mining process involves no standard formula in lieu it is based on guesswork. So, the only game plan which may amplify your chance of procuring a coin is by joining a mining pool.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><img decoding=\"async\" src=\"https:\/\/moneymint.com\/wp-content\/uploads\/2021\/06\/How-to-Mine-Cryptocurrency-What-Is-Crypto-Mining-1024x648.jpg\" alt=\"How-to-Mine-Cryptocurrency\" style=\"aspect-ratio:1.5802469135802468;width:570px;height:auto\"\/><\/figure><\/div>\n\n\n<p>To add, a mining pool \u2013 is a group of miners who are connected over a network to share their computational resources and divide the reward according to the amount of work they have done to obtain the block or coin. If you are planning to be a crypto miner, you need a high-performance computer, software, and some additional equipment.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-here-are-some-cryptocurrency-mining-terms\"><span class=\"ez-toc-section\" id=\"Here_are_some_ways_to_mine_cryptocurrency\"><\/span><strong>Here are some<\/strong> <strong><strong>ways to mine cryptocurrency<\/strong><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p id=\"h-if-you-aren-t-acquainted-with-cryptocurrency-mining-terms-you-don-t-need-to-worry-as-we-ve-got-you-covered-keep-reading-below\">If you aren&#8217;t acquainted with <a href=\"https:\/\/pczippo.com\/crypto\/what-is-cryptocurrency-mining\/\">cryptocurrency mining<\/a> terms, you don&#8217;t need to worry as we&#8217;ve got you covered. Keep reading below:<\/p>\n\n\n\n<ol class=\"wp-block-list\" type=\"1\">\n<li><strong>Hash rate<\/strong>&#8211; The crypto miner is given an opportunity to make a guess at the hash of the block. This step is also entitled to a hash rate with which people dealing with cryptocurrencies are usually familiar.<\/li>\n\n\n\n<li><strong>GPU<\/strong>&#8211; What is known to be a superior alternative to CPU, a graphic processing unit is fabricated in a way to bestow a 3D design. What&#8217;s more, it can even make more guesses when contrasted with its counterpart- CPU.<\/li>\n\n\n\n<li><strong>CPU<\/strong>&#8211; It is a mundane term with which most of the population out there is anticipated to be apprised. The central processing unit, which is dime a dozen abbreviated as CPU, is known to be the brain of the computer. It performs accordingly to the commands given to it. A vital piece of information; it is considered to be the most economical technique to mine cryptocurrency.<\/li>\n\n\n\n<li><strong>ASIC<\/strong>&#8211; Concise as ASIC, an application integrated circuit is designed for a particular purpose, rather than for general use. Albeit, these so-called chips are acclaimed to be one of the best sources of mining; however, are notorious for consuming heavy power.<\/li>\n\n\n\n<li><strong>Mining rig<\/strong>&#8211; When talking about a mining rig, its fundamental intent is to augment the miner&#8217;s hash rate as it blends the chips of CPU, GPU, and ASIC streaming together seamlessly.<\/li>\n\n\n\n<li><strong>Proof of work<\/strong>&#8211; For enhancing the security of any cryptocurrency, the proof of work algorithm is highly relied upon. This mechanism is hailed for making it quite bling and almost impossible to deceive the crypto platform. In simpler words: proof of network is the mechanism of furnishing extra shielding to the majority of Blockchain networks.<\/li>\n<\/ol>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-is-cryptomining-legal-or-not\"><span class=\"ez-toc-section\" id=\"Is_CryptoMining_Legal_or_not\"><\/span><strong>Is CryptoMining&nbsp; Legal or not?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>The legality of mining depends upon your geographical location. As the first cryptocurrency Bitcoin was considered as a potential threat to the centralized banking system and dominance of fiat currencies, every country has its own set of rules and regulations for the same. The largest crypto market exists in the United States, where digital currency is an asset for many, making it legal in most parts of the country. However, trading, using, and buying virtual currency in the US may differ as per province, but mining is allowed in all states.<\/p>\n\n\n\n<p>As mentioned earlier, due to potential threats every country has different laws for crypto. For example, in countries like Saudi Arabia, Canada, Russia, and Nigeria \u2013 mining is legal but commercial using virtual currency is illegal. Plus, in countries such as Nepal, Morocco, Algeria, Pakistan, and Bolivia \u2013 it\u2019s completely banned to use and mine any cryptocurrency. It\u2019s recommended to check your country&#8217;s laws and regulations before deciding to mine.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-what-are-the-best-fitted-pertinent-ways-to-mine-cryptocurrencies\"><span class=\"ez-toc-section\" id=\"What_are_the_Best-fitted_pertinent_ways_to_mine_cryptocurrency\"><\/span><strong>What are the Best-fitted pertinent ways to mine cryptocurrency?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>There are myriads of methods one can start with cryptocurrency mining. Let&#8217;s embark on the journey with the easiest one!<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"1_Cloud_Mining\"><\/span><strong>1. Cloud Mining<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>One of the easiest and well-known methods to mine a cryptocurrency is via a cloud mining firm. In this digital era, the fastest growing technology is cloud computing, allowing services like processors, database servers, file storage, and software shared over the cloud. To add, in this cloud mining method you need not install any heavy hardware, no &#8211; noise, heat, and power consumption, all it requires is to pay a fee to the firm for mining the block.<\/p>\n\n\n\n<p>In return, the cloud company&#8217;s prerequisite is a long-term commitment from the miner. Moreover, the coin mined by you will not be kept by the company instead you pay the fees. Despite many advantages, there are some cons associated with cloud mining, such as scams and fraud. Therefore, before investing in cloud computing you must inspect whether the company is trustworthy or not, as many cryptocurrencies cloud mining providers are not offering the services they advertise.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2_CPU_Mining\"><\/span><strong>2. CPU Mining<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>CPU Mining is an old-school method of mining coins, a computer processor is employed to mine crypto coins. This method was profitable in the early days of virtual currency or simply put when Bitcoin was the only currency to mine. But now this option is not feasible due to plethoras of reasons. First, the process is terribly slow- it may take up to months to witness any revenue. Second, it\u2019s extremely expensive as it needs lots of electricity and a proper cooling mechanism.<\/p>\n\n\n\n<p>Howbeit, people are still using CPU mining because some blockchains like Loki, Monero, and Nimiq can be mined with CPU even today.\u00a0 In addition to this, anyone with a desktop can enter the mining world without investing a hefty amount in high-end equipment. Besides this, the most imperative advantage of CPU mining is that anyone can start and learn the mining process before investing a copious amount in <a href=\"https:\/\/asic.gov.au\/\">ASIC<\/a>, cloud, and GPU.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"3_GPU_Mining\"><\/span><strong>3. GPU Mining<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>GPU aka graphic processing units, a video card-based mining is the most powerful, popular, and renowned method of mining any cryptocurrencies.\u00a0 It&#8217;s more effective than the CPU in solving difficult mathematical calculations. Additionally, GPU miners can mine diverse cryptocurrencies, including Bitcoin, Ethereum, Dogecoin, and Litecoin , in both bearish and bullish markets.<\/p>\n\n\n\n<p>The market is flooded with graphics cards, but those designed for GPU mining offer the most efficient cryptocurrency mining. Furthermore, GPU mining gained popularity in 2017 during the Bitcoin price surge to $30,000. And people around the globe look for the best GPU to earn their crypto mine reward.<\/p>\n\n\n\n<p>Here\u2019s the catch with GPU mining- first, a well-performing gaming card is comparatively costly at around $1400. Secondly, the substantial power consumption in mining raises questions about its profitability. Furthermore, new miners often face the challenge of selecting the right cryptocurrency for GPU mining. There are some underlying factors one should consider if planning to start the journey as a miner. Like, invest and mine in those cryptocurrencies only that can make up for the electricity bill along with rig maintenance charges.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"4_ASIC_Mining\"><\/span><strong>4. ASIC Mining<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>Application-Specific Integrated Circuit aka ASIC is a device using microprocessors solely designed for crypto mining. ASIC miners are purpose-built to efficiently mine a specific virtual currency, such as a Bitcoin ASIC miner mining Bitcoin. <\/p>\n\n\n\n<p>Similarly, Litecoin will be mined by employing ASIC chips, plus no other tasks can be performed on the ASIC device. Large-scale miners exclusively use ASICs to mine specific coins based on their unique cryptographic hash algorithms. Some major benefits of ASIC include easy setup, low power consumption, and high return on investment. Also worth noting, it is the most costly mining method as compared to CPU and GPU.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Wrap_Up\"><\/span><strong>Wrap Up<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Cryptocurrency mining has become a complex and competitive industry. Success in cryptocurrency mining requires joining a mining pool, high-performance hardware, suitable software, a secure wallet, and necessary equipment. Keep in mind that profitability can vary depending on the cryptocurrency&#8217;s price, network difficulty, and electricity costs. So it&#8217;s essential to do thorough research and stay informed about the latest developments in the world of cryptocurrency mining.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>For crypto passionate aficionados, this is the second part of the article, here will share privy on disparate ways to mine cryptocurrency and the best currencies to mine- be the next millionaire in the troop.\u00a0\u00a0As cryptocurrencies are touted as the future of finance, and with their mainstream acceptance more and more people are driven to [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":456,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[6],"tags":[137,2,177,196,329,328],"class_list":{"0":"post-427","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-crypto","8":"tag-bitcoin-mining","9":"tag-crypto","10":"tag-cryptocurrency-mining","11":"tag-mining-cryptocurrency","12":"tag-top-currencies-to-mine-in-2021","13":"tag-what-are-the-optimal-ways-to-mine-cryptocurrencies","14":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Way To Mine Cryptocurrency- PC Zippo<\/title>\n<meta name=\"description\" content=\"Explore efficient ways to mine cryptocurrency and maximize your earnings. 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