Complete Guide to Start Cryptocurrency Mining
From Multipool Wiki
Revision as of 20:26, 22 February 2018 by Nick
6 STEPS TO START CRYPTOCURRENCY MINING
- Acquire cryptocurrency mining hardware
- Purchase mining hardware, but be careful of scams. Do legitimacy research on any company you decide to purchase cryptocurrency mining equipment from. A few reliable places to buy mining hardware are:
- Bitmain is one of the leading manufacturers of ASIC computers for consumers.
- Ebay.com, Amazon and AliExpress oftentimes have mining hardware available for sale and buyers are typically protected by each respective sites buyer assurances.
- Rent mining hardware, but be careful of scams. Do legitimacy research on any company you decide to rent hashpower from. Understand that profitability is not guaranteed as mining is luck based and should be tested before making any sizeable investments. A few popular places to rent hash power are:
- The 5 types of cryptocurrency mining hardware.
- ASIC Computers (Application specific integrated circuit) - Are specifically designed to efficiently calculate specific calculation types and are the most profitable mining solutions available.
- GPU (Graphic Processing Unit) - Individual or multiple GPU cards hooked up to a computer can be used to mine various cryptocurrency algorithms.
- CPU (Computer Processing Units) - A personal computer's CPU can be used to mine cryptocurrency, but generally at very small rates.
- Newegg offers reasonable pricing and availability on prebuilt computers and individual hardware components to mine cryptocurrency.
- Mobile - Android and iOS devices are capable of mining cryptocurrency.
- Server - VPS or other hosted servers are capable of mining cryptocurrency.
- Setup mining hardware & software
- Setting up ASIC mining hardware
- Guide to setting up USB mining hardware (** Coming Soon **)
- Guide to setting up a Bitmain Antminer (** Coming Soon **)
- Guide to mining with a GPU’s (** Coming Soon **)
- Guide to mining with a Mac & PC CPU (** Coming Soon **)
- Guide to mining with mobile devices (** Coming Soon **)
- Guide to mining with a VPS or fully hosted server (** Coming Soon **)
- Scrypt mining
- Scrypt mining software download links:
- For mining scrypt with Radeon R9 Series cards add these two lines to your .bat file:
- SHA256 mining
- X11 mining
- Create a "Worker name", which will be formatted “username.worker_id” on the Worker Page.
- Select the currency or multipool you want to mine. Click here for a list of each currencies and multipools server addresses and port numbers.
- Configure your miner to access multipool.us.
- Using a Bitmain Antminers configuration page add the stratum, worker name and random password, then click the "Save & Apply" button.
- Using command line mining software input the miner configuration details. If you need help use the Multipool command line generator.
- Software Prompt - In a terminal environment you typically have to be in the folder name where the mining software is located and type in the name of your command line software (In this example were using the sgminer.exe application).
- Algorithm - sha256 is set by default. To change this setting add for scrypt based coins add “--scrypt” and for x11 coins add “-D -a x11”. Check that your mining software and hardware are support the mining algorithm you intend to mine.
- Server option & Protocol - The “stratum+tcp://” protocol is preceded by a “-o” in the command line and appended without a space by the Multipool server address
- Multipool server address - Select either the .us or .eu server address based on your location. If your unsure which is closer, you can run a traceroute “traceroute us.multipool.us” and “traceroute eu.multipool.us” in your command line on a Mac or Linux and compare the results.
- The port # - is specific to the currency or Multipool you intend to mine, click here for a list of each multipool and currencies server addresses and port numbers Worker Name - Is a combination of your username and a worker id that have to create The complete worker name is structured like “userID.workerID” in this example it is “koinkangaroo.2222”. In a command line setting the user name is set with a “-u” before the complete worker name.
- Password and option - The password can can be basically anything, it is effectively not set. In this example the command line setting is “-p” and the input password is “x”. This would work if we arbitrarily changed the password to “1234” or some other random characters.
- Setup cryptocurrency wallets & withdrawals
setx GPU_MAX_ALLOC_PERCENT 100
setx GPU_USE_SYNC_OBJECTS 1
- Note: Multipool limits the number of connections per IP to 25 to each port. If you are planning to make more than 25 connections from a single IP, please email us mailto:[email protected] your IP address to be whitelisted.
- Note: Worker Difficulty Settings - Depending on the mining hardware your operating it’s possible that adjusting the workers difficulty level may result in efficiencies. Typically, newer (post 2015) firmware on most ASICs and GPU rigs functions best with variable difficulty settings.