Cryptocurrencies have become the main topic of conversations of many people in the world due to their impressive price changes and benefits that they offer to users.
Every day, more and more people want to buy or exchange cryptocurrencies, but there is a large group that is also focused on mining them.
In the market, there is a virtual currency called “Monero” which is considered the most private and anonymous Cryptocurrency in the market, even more so than Bitcoin. This virtual coin was released back in 2014.
Now we’ll talk a little bit about how you can mine Monero yourself and the great advantages of anonymity it offers to its users.
All it takes to start mining is a graphics card or a pair of threads from the processor. Monero has been catalogued as one of the easiest cryptocurrencies to mine thanks to the simplicity it offers.
You should remember that it is essential to have a good wallet where you can store your coins after you mine them, but this can very easily be achieved. There are many options available, so you should conduct some research to see which best suits your needs. Once you have made your decision, you must go to the official Wallet website, register for and follow the instructions when prompted.
Then you need to visit the official website of Monero and find the official software with the GUI interface for the operating system of your choice. When downloading the software, you must follow a series of steps and pay close attention to the security measures that this will offer, in order to give the best protection to your wallet and your Monero.
Is highly recommended to save the passwords you set in a safe place so that you don’t have any problem with data loss.
When you have your wallet ready to use, the next step is to find a mining pool for Monero. Basically, in a pool, all users add their processing power together to find new blocks, and each one receives, in return, a proportional payment according to the contribution they made.
The pools also have a minimum payment, and of course, they get a commission. Others present additional restrictions, such as preventing botnets from participating.
Some of the most recommended places where you can find this type of pools are the following:
To start mining, it is highly recommended that you download the latest build available from GitHub, and unzip the content to a folder on your computer. To start mining you need to use an optimal CPU, but this does not guarantee results in a short time. Usually, when undermining with a CPU the process will be slower and with very low gains.
On the other hand, you can use a GPU. These are equipped with an optimal graphics card for this activity and it offers the users high gains in a very short time. The investment may be a little high but it will be worth it when you start to receive your earnings.
You should take into consideration that regardless of the method you choose, the first Monero will appear once the blocks have matured, on average it takes a few hours.
To move that money into your wallet, first, you must reach the minimum that is established by each pool.
How long do I need to mine to see results? That is determined by the equipment you use to mine and the specific goals that you have established at the beginning.
Monero is a Cryptocurrency that offers great advantages compared to other virtual currencies. Most users who use Monero for their financial activities are those who do not want their identity to be reflected in the payments or transactions they make, thanks to the anonymity Monero offers.