Mining your own cryptocurrency is simply exciting. Become a tiny part of the revolution that is already changing the way transactions are made globally. (In just 5 min!) Want to try?
- Download GETH
- Create an account
geth account new
DO NOT FORGET YOUR PASSWORD or you will lose the wallet forever
You will be given an address, note it down too.
- Connect to Ethereum
- Download a GPU miner for much better performance.
Nanopool offers a 1-minute Quick-Start which includes downloading Claymore GPU miner and joining the pool. (Recommended)
You can use the CPU miner included in geth if you do not have a decent GPU.
*(Optional) Benchmark your calc capacity. -U for NVIDIA, check –help for others.
ethminer -U --benchmark
Joinin a pool means you cooperate with others, as opposite to solo mining. It is absolutely recommended to join a pool like Nanopool or you might never get to solve any block.
- START MINING!
If using the Quick Start package mentioned before, run the Start script. If mining solo run:
Just remember to leave geth running and connected while solo mining.
After the first share is completed, you will be able to check your progress in https://eth.nanopool.org/account/theAddressGeneratedInStep1
As an example, these are the benchmark results of two GPUs. You can get an estimate of the expected earnings with a Profitability Calculator:
- Intel(R) HD Graphics 630(OpenCL 2.1 ) : 1717160 H/s = 1.7 Mh/s appro
x. $ 2.41 per month.
- GeForce GTX 1050 : 11.3 Mh/s approx. $ 15.08 per month.
You can check your balance via geth console:
geth attach > eth.getBalance(eth.coinbase)
Take a coffee and come back for your extremely satisfying reward:
Your first cryptocoins.
Obviously, this is not profitable taking into account hardware and electricity costs, it’s all about experiencing the thrill of being part of the blockchain.
The mechanics of the Ethereum system are awesome, you can quickly learn some of it’s key aspects.
Feel the e-gold rush already?