Since most people who are thinking about crypto mining are probably using Windows, this operating system will be the main one we’ll talk about in this article.
I will guide you through the process of mining Ether on Windows and every other thing that is essential in the mining process.
Key Takeaways
• Ether’s blockchain is called Ethereum.
• Miner helps the issuer of currencies in handling transaction blocks and offers issuers solutions that are used to verify transactions.
• Miners are given rewards for the solutions they provide; they also get digital coins in return for the services they offer.
• Ethereum mining is done to boost the volume of Ether in the market.
So what is Ethereum? and how do you mine Ethereum?
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SEE ALSO: What Tools Do I Need To Start Mining Crypto?
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What Is Ethereum?
Ether (short for Ethereum) is the cryptocurrency used for operating the Ethereum platform. It can also be said to be the fuel needed to run the Ethereum platform.
Users can also use it for clearing transaction fees and computational expenses as well. The good part is that you can also exchange it between different users and developers who work on the Ethereum platform. Developers can use smart contracts for receiving, storing, and sending Ether to other developers.
What is Ethereum Mining?
Ethereum Mining is the mining of Ether and can be done from your home. You might be wondering about how you can mine Ethereum from your computer. Well, It is an easy process. You can do it if you have an understanding of command prompts and scripting. So how do you mine Ethereum on Windows?
How To Mine Ethereum on Windows
To mine Ethereum on windows, below is a step by step guide;
Step 1. Create a digital wallet: Just like you need a wallet in your real life to keep physical money, you would need an Ethereum wallet to store your crypto in it. So you can keep your Ether here, plus you can also use it as your digital wallet.
Step 2. Install graphics card drivers: Once the digital wallet is ready you need to update the software on your PC. The mining process can be even more beneficial if the hardware is running all of the latest updates.
Step 3. Install Ethereum Mining Software: In this step, you need to go to their website and download their latest version.
Step 4. Set up your Windows: Some settings should be modified in Windows to get you ready for mining:
First, you don’t want your Windows to go to sleep as it will interrupt your mining so go into your Power Settings and set it to “Never” turn off/sleep.
Next, Modify your system page file and manually set it to 16384 MB (this is 16GB).
To minimize the disruptions to leaving them on, you can do so and just understand there are very frequent updates that sometimes reboot your system without your involvement and therefore stop your mining.
Step 5. Join a mining pool.
Step 6. Start mining
Frequently Asked Questions (FAQs)
What do you need for mining?
There are just a few things that are required for starting the mining process. Here is the list for you:
1. Free mining software: The first and foremost thing is a range of software is required depending on the type of crypto you opt for. For Ethereum, you can also go for Ethminer or Minergate; both of them are compatible with Windows.
2. Temperature monitoring and overclocking software: This tool is really important as it helps increase your GPU performance, thus giving you more hashes every second
3. Membership in a mining pool: It is essential to have membership in a mining pool as it enhances the possibility of getting the reward. There are various resources that are used so that they can crack the puzzle and add a new transaction to the blockchain.
4. Membership in an online currency exchange: This is necessary as this is where you would be able to trade Ethereum.
5. Cryptocurrency wallet: This is recommended as this is one place where you can keep your tokens safe
6. GPU: You would need a GPU with ample storage in the VRAM to store a DAG. It is important to have a minimum of 3 gigabytes of VRAM as a file is created after 30000 Ethereum blocks are added, and you need a lot of space to store them.
Is Ethereum Worth Mining?
Well, here are some good reasons to mine Ethereum:
- Mining can be a great way to subsidize the purchase of a new, high-end GPU (or two or three…).
- As Ethereum is easily traded for Bitcoins (BTC), it’s a cheap way to slowly build up a holding position in Bitcoin.
- ETH can also be sold directly for cash on several major exchanges, such as CEX.io, Kraken, Gemini, and Coinbase.
- Mining can be a cheap entry ticket to the Ethereum markets, loved by traders for their high volatility. If you’re a good and/or lucky trader, you can maximize your profits.
- Building a large ETH position now, in the Proof of Work mining phase, will enable you to earn interest on your holdings if / when Ethereum switches to a Proof of Stake.
- If you believe in the Ethereum concept (despite the failure of the DAO and doubts regarding the viability of Ethereum’s approach), you can support and gain a voice in the Ethereum network through mining.
Can I mine with my CPU instead of a GPU ?
GPUs are so much faster, that CPU-mining is no longer profitable or worthwhile. Even entry-level GPUs are about 200 times faster than CPUs for mining purposes.
How Many Ethereum Can Be Mined?
Unlike Bitcoin, there is no limit to the amount of Ethereum that can be generated. Each day around 13,500 Ethers are mined.
Can you mine Ethereum on Windows 10?
Yes – in fact, most people who want to learn how to mine Ethereum on Windows are using Windows 10, since it’s the latest stable version of the operating system. Theoretically, you don’t really have to be on Windows 10 to mine Ether coins – generally, though, it’s going to be the best idea.
How do I obtain Ether?
There are other methods as well for obtaining Ether, such as:
- Receive it from a different user on the Ethereum platform.
- If you need it, you can exchange it for another cryptocurrency such as Bitcoin or transactions that support the BTC-ETH pair.
- You can also obtain it as a miner by obtaining a cloud mining contract or becoming a part of an existing mining pool.
How to check how much you have mined?
All the pools have a unique or different interface, but the principle for each of them remains the same. So, for checking the mine count, you would have to go to your pool’s website and put in the public wallet address, and you will be able to see all the information there.
In the case of a 2miners pool, once your balance reaches 0.01 ETH, it will automatically be sent to your wallet address which you typed at the start.bar file.
What’s better for Ethereum mining, a GPU, FPGA, or ASIC?
When you think about how to mine Ethereum on Windows, the next thing your mind comes up with is the processing units attached to it, as it is substantial to choose the best one so that the mining can be done quickly.
Ether is designed in such a way that it can only be mined with GPUs (Graphics Processing Units). On the contrary, Bitcoin can only be mined effectively with specialized devices called ASICs.
Hence, GPUs are the most sensible choice because of their flexibility and good performance compared to price.
Can any ETH wallet address be used for mining?
Yes, any ETH wallet address can be used for mining, but a few exchanges do not enable deposits, so check with the site before mining.
What about cloud mining sites?
DO NOT buy into Ethereum cloud mining sites or related Investment programs.
99.9% of cloud mining sites are Ponzi schemes or fractional reserve Ponzis. Even though there are a few that have been around a long time, there have been no 3rd party audits of the hashing power sold and profits are usually very low unless you are promoting heavily and getting others to join in (another red flag of Ponzi related activity).
Final Thoughts
There are various benefits of Mining Ethereum; it is essential to know some of its advantages as a lot of people are not even aware of them.
Mining is a reasonable method for people who want to enter the Ethereum market. Traders like it because of its high volatility, and if you are a good trader, then you can earn good profits through it.
If you truly believe in the ETH concept, then, you will be able to gain a voice in the Ethereum network by mining.
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