How to mine ‘altcoins’ using your PC
Estimated reading time: 6 minute(s)
Mining Bitcoins is the practice of using processor power to do calculations which give you the reward of bitcoins (oversimplified, but effectively that’s what it is).
If you’ve been following the Bitcoin mining scene you know that quite some time ago mining bitcoins on a regular PC was no longer profitable. It still isn’t, however this service which I found out about recently makes it somewhat viable again.
Minergate is a website that lets you mine a bunch of different digital currencies, and then withdraw them directly into a bitcoin wallet using Changelly.
I have tried it for a couple of days now and I’m quite impressed. In only one day I managed to mine enough Bytecoins to cross the withdrawal threshold. Now that’s about $1 per day, so while it won’t make you rich it’s about what you got from mining bitcoins on a regular pc in ~2011.
The computer I was using to mine has the following specs: Intel Core i7 5820K 3.3ghz, Nvidia GTX 970, 16gb DDR4.
(Update) I got $260 worth of Bytecoins and Monero in just over two months!
Minergate is extraordinarily easy to set up. Bitcoin mining can often be pretty tricky to get working the way you want it to. But with Minergate you just download their miner, login and go.
Smart mining allows you to mine the currency that currently has the highest exchange rate. With the low withdrawal thresholds this is indeed feasible, although I’m mostly sticking to Bytecoins and Monero.
Not only is PC mining relatively profitable with minergate, it’s actually possible to mine from Android phones and web browsers with somewhat decent speeds. Mining on your phone alone might not get you much, but it is a decent compliment. To do this just download the minergate app on the play store. The webminer can be found here.
They also offer cloudmining, that is leased mining rigs. Now I can’t tell you if that’s actually profitable since I haven’t tried it.
If you wanna give it a go you can sign up here.