By Hitesh Sant in Finance May 31, 2022
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cryptocurrency mining
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Cryptocurrency mining is free money, but only if you are smart enough. You can earn by contributing software technology that runs the crypto blockchain!
Even your personal computer can earn a few bucks while you watch your favorite shows on Netflix. In this article, I will share various cryptocurrency mining platforms for you to generate passive income.
Mining is the lifeline of the Crypto world. It validates ongoing transactions and mints new coins in circulation. Simply put, a miner solves complex mathematical problems to verify transactions.
It is the process by which a miner exchanges their computing power and electricity for the block reward. The block reward is the incentive for the miner to help keep the blockchain technology behind cryptocurrencies.
Simply put, the blockchain is the foundation of all crypto and the NFT universe. It is a distributed digital ledger that contains a tamper-proof record of every entry.
The following section will discuss the various advantages of crypto mining.
Benefits of Crypto Mining
If you are a crypto miner, then this can be a pretty good side gig. With little analysis, you can generate passive income based on your computing power without doing anything about it. Get-Set-Forget.
Then you can be an essential part of the crypto movement, as miners are the main contributors to the realization of decentralized finance.
Finally, you have a right of veto for any modification of the network protocols.
Mined or unmined cryptocurrency
A consensus mechanism is a method for approving transactions in a decentralized system such as a blockchain. It also helps protect the system against possible vulnerabilities such as a 51% attack.
A 51% attack is a situation where a bad actor controls more than 51% of the blockchain. This majority empowers the fraudster to mold the protocols according to his will. A consensus mechanism keeps power decentralized. Such a degree of decentralization requires huge computational capabilities and labor to perform a 51% attack. Ultimately, a scammer is prone to losing more than he would win.
There are many consensus methods such as proof-of-work, proof-of-stake, proof-of-capacity, proof-of-activity.
Depending on the type of consensus mechanism, crypto coins may require mining or otherwise.
Cryptocurrency mined
Blockchains using a proof-of-work consensus mechanism need to be exploited.
They use miners to approve entries (transactions). Whenever transactions are made for verification, miners start competing to find a 64-digit hexadecimal number.
The first to find the solution broadcasts it to the entire network as proof of work. This victory grants the reward to the winner while others wait for the next challenge.
This process is repeated each time for a block of transactions. A block is nothing but a group of transactions totaling 1 megabyte of data.
Bitcoin and Ethereum, the two biggest cryptocurrencies, use proof of work along with many others. Therefore, they need mining to check for double spends.
The only downside to proof of work is the energy consumed and time taken per transaction, as all miners except the winner end up wasting their computing power for nothing.
Unmined Cryptocurrency
Not all cryptos that do not use proof of work are mineable such as Ripple, Cardano, etc.
They use more energy-efficient methods to validate transactions. Proof-of-stake is one such consensus protocol that is an alternative to proof-of-work.
Proof of Stake removes concurrency. The blocks are not mined. Instead, they are validated by stakeholders. Validators are chosen randomly. They stake their share of crypto to approve any block. And they lose their participation (partial or total) depending on the degree of misconduct.
Although proof-of-stake is environmentally friendly, it comes with its own set of drawbacks, such that it favors the accumulation of crypto rather than its spending.
So right now, for the foreseeable future, Proof of Work (mining) doesn't have a strong alternative.
Who can mine cryptocurrency?
In general, anyone with a supported wallet, internet connection, and powerful hardware can start mining cryptocurrency. It also depends on the type of cryptocurrency you choose to mine.
You can opt for solo mining or pool mining.
In Solo, you alone solve the hash, while it's more of a group effort in the pool. Likewise, it is also based on the type of hardware you have deployed, CPU, GPU or professional ASIC (Application Specific Integrated Circuit) miners.
Please go through this guide to understand crypto mining in detail.
Crypto mining rigs
The following sections will discuss some of the major mining rigs and utilities that ease the mining procedure, cutting out much of the technical setup.
Before you start, make sure you have a cryptocurrency wallet and mining software that supports your choice of cryptocurrency.
Without further ado, let's start with some of the best mining rigs.
1 Ecos
Echoes calls itself a full-fledged crypto investment platform. And when you see their breadth in the crypto realm, you might think the same.
It has a cryptocurrency wallet, exchange, cloud mining contracts and crypto wallets for investors. In addition, ECOS has a handy mobile application. It is available on App Store and Google Play.
However, their cloud mining contracts are only for bitcoin mining. You can create a contract ranging from 75 USD to 50000 USD valid for 15 months to 50 months.
They accept payment by cards and in a few cryptos: BTC, ETH, XRP and LTC.
Interestingly, you can purchase a Bitmain Antminer from their website. And it will mine Bitcoins in their mining facility. Finally, you have the choice to have it delivered to your address at your convenience. They pay daily for cloud mining and miner hosting contracts. All the detailed statistics you can see in your account.
The main feature of the ECOS platform is that they provide a free cloud mining contract for 1 month to test their platform!
the stormga is one of the simplest mining rigs. It has a one-click mining process that doesn't eat up your local resources, and it's free. But there is a catch!
stormgain-crypto mining rigs
As advertised, it is an all-in-one encryption platform. You can buy, sell, trade, trade and mine. Mining is limited to Bitcoin and is done on StormGain servers.
Now, the catch is first that mining is done in 4 hours of work. So you have to click to activate the miner every four hours. Also, if you are not trading on StormGain, the mining speed is slow as you mine a miniscule 0.5 USDT (~USD) per mining session.
And second, you need to increase your trading level to increase your mining speed. Notably, there are six additional levels besides the starter. The highest level is VIP 3 for traders with a trading volume of 75,000,000 USDT per calendar month. With this maximum level, you can have a free mining income of almost 100,000 USDT per month.
Trading, exchange and withdrawal fees are specific to the coin type. But, the deposit is free of any commission.
StormGain has native apps for Android and iOS. You can also use it as a web application.
In conclusion, StormGain is only suitable if you do everything with crypto. Keep reading to learn more about crypto platforms if you are interested in mining alone.
Hash Lists offers such cloud mining services. They believe everyone should have access to simple passive income through cryptocurrency. To ensure that this is feasible, it provides users with different plans. Contract mining options include LTC, ETH, BTC, FIL, and DOGE MINING, with prices ranging from $8 to $6,500.
Over 240,000 users use Hashlists! The secret of success lies in a stable profit accumulation, favorable conditions of cooperation and flawless work.
Some of the features include below.
Free cloud mining
Withdrawal within 30 minutes
There are no maintenance or deposit fees
Support is available 24 hours a day with 7/7 support
The system is secure and protected by SSL.
Regulated by the UK Financial Conduct Authority (FCA).
3% referral bonus
Sign up and get $8 to get started today.
Mushroom is a great place to step in for anyone aiming for pool mining.
It is one of the bitcoin mining veterans currently mining around 3.5% of all bitcoins.
SlushPool charges a 2% pool fee for using its platform. It also offers a 0% pool fee option for some supported ASIC miners.
It also has an official mobile app for iOS and Android. The app can be used as an account monitoring tool. SlushPool clearly states that you cannot mine with its mobile app.
Its platform has two-factor authentication (2FA) for added security. In addition to the usual one-time passwords, you can use FIDO2-compatible physical authentication devices like TREZOR or Yubikey.
While the minimum payout is 0.001 BTC, you pay a payout fee of 0.0001 BTC for transactions below 0.01 BTC. The same goes for Zcash payments.
SlushPool has Bitcoin mining servers on all continents: United States, Europe, Canada, Japan and Singapore. Zcash mining servers are located in the United States and Europe.
Next on the list of crypto mining platforms comes Awesome Miner, which is similar to Cudo Miner. It is a mining management utility for Windows and Linux users.
It can be used for free for 2 minors. Thereafter, its paid plan kicks off, starting with an annual billing of $4 per month.
It also has a cloud subscription that offers mining management from anywhere with just an internet connection. This service starts with $4 per month, billed annually for 10 miners. This service has a 30 day trial period if you have less than 400 mining rigs.
There are also monthly plans that are a little more expensive than their annual counterparts.
Awesome miner seems like a great solution for huge mining farms. It contains rich documentation and help sections to help users in every possible way.
7 Zionodes
Zionodes is hands down the most accessible BTC mining platform we have come across. This platform comes with the smoothest user interface and helps you get onboarded and start mining in seconds. The best thing is that their dashboard is dynamic; you see your winnings updated every minute.
The rise of this platform can mainly be attributed to its strategic partnerships with ViaBTC and many other prominent players in the mining industry. Such strategic partnerships ensure their entrenchment in the remote bitcoin mining field.
We recommend this platform because once you buy from them, you are the sole owner of the hardware and you don't have to worry about the availability of computing power. Hosting hardware in data centers allows you to achieve an astonishing 99.99% uptime, so there are no maintenance downtimes.
They accept several crypto payment methods such as USDP, TUSD, DAI, BUSD, USDT, and USDC. The added benefit of being able to add these coins to multiple networks such as Ethereum, Binance Smart Chain, and TRON. Zionodes has its data center in North America, South Africa, Europe and Russia.
Additionally, if you plan to order in bulk from the trading desk you can make payment in just a few clicks using the MetaMask USDT ERC token.
In conclusion, Zionodes is a better alternative to various cloud mining rigs as it runs on remote mining pods where you own the miner and can mine it as per your convenience.
Index! Register on the market and write to them, and they could provide you with free trial access to the miner of your choice.
Bitfly is where you can mine six crypto coins: ETH, ETC, ZEC, BEAM, RVN, and ERG. Each has a different domain name and setup instructions corresponding to the specific part.
It charges a standard 1% pool fee regardless of which coin you mine. It has third-party apps for monitoring supported on Android and iOS.
bitfly mining pool
Bitfly has specific setup guides based on operating system, graphics card, and currency.
Once you click start mining, you will be taken to server details and mining software options. After that, you just need to download the preferred mining utility and configure the mining software to start mining.
It has mining servers in Europe, Asia and the United States.
Bitfly boasts of instant payments. He also has a Discord channel, a place to share knowledge with other miners. This can be useful if you are new to mining.
This is a unique concept for mining cryptocurrency while browsing. It has built-in mining features.
CrytoTab Browser promises automatic algorithm change to increase profits. Likewise, it also guarantees the absence of overheating or battery drain when browsing with its internal browser.
crypto tab browser mining
It converts all rewards into Bitcoin. The minimum payout listed is 0.00001 BTC. You can earn from your mining hardware and receive a commission for referrals.
This browser is available for Windows, Mac, Android and iOS.
This is recommended for non-technical users who wish to have a minimum taste of cryptocurrency mining.
10 Cruxpool
A very modern looking website that says, “Stable and Predictive Crypto Mining Revenues.”
You can mine ETH, ETC, BEAM and Ravencoin on cruxpool. And they're adding new parts as we speak.
But when you go to their mining page, they only show two mining pools, ETH and ETC.
cruxpool
These two are the largest of their pools. However, their help section shows the other two mining pools, Beam and Ravencoin.
Cruxpool charges a 1% pool fee.
Their quickstart guide is detailed and helpful for setting up Ethereum and classic Ethereum mining. It helps to get started with different operating systems (Windows and Linux).
The minimum payments are:
Ethereum – 0.01 ETH
Classic Ethereum – 0.1 ETC
Ravencoin – 50 RVN
Beam – 1 BEAM
11 HashCity
You can mine 14 cryptocurrencies with HashCity.
The good thing about this platform is that you don't have any payout fees like with SlushPool.
The pool mining fee is 1%.
hashcity mining
You can find getting started guides by clicking on the “How to get started” button against each cryptocurrency.
For example, when you click on “How to get started” for Litecoin, this will appear:
You can directly find the appropriate miner and other files in this section.
Likewise, you can download detailed instructions for each cryptocurrency to set up mining with HashCity.
They have a HashCity app for Android and a Telegram channel for pool members.
12 CoinFly
Monfly is different from others in that they offer a crypto operating system (COS). No mining setup is required. They do not have their own mining pool. Instead, they provide connections to other pools.
To get started with Coinfly, you need to create a bootable USB device and boot from it to your mining rig. It has pre-installed and configured miner utilities.
You also have the option of using COS as the main operating system for your mining rig.
For now, Coinfly does not charge anything for its services. So you can try their unique service for free.
Since CoinFly only connects you to other pools, payment terms will be specific to the pool you join.
CoinFly COS setup video:
13 NiceHash
Nicehash is the most comprehensive of the pools/services we have reviewed so far. But his website can easily overwhelm a new miner.
It is a hash rate market, crypto mining utility and crypto-mixing exchange portal in one.
Mining couldn't be easier if you have Windows 10. Watch this video for more details:
With Nicehash, you have two options, either use their in-house mining app: NiceHash Quickminer or use any third-party miner app with NiceHash Miner.
Depending on the hardware (CPU/GPU or ASIC), you can find detailed tutorials to start mining with them.
NiceHash OS (NHOS) is similar to what we have COS with CoinFly. You can connect an unlimited number of mining rigs with NHOS for free. This is an added advantage over COS, which will start charging beyond 4 platforms.
NiceHash is compatible with many pools: F2Pool, SlushPool, 2Miners, etc.
Nicehash also has a mobile app for Android and iOS.
Easy BTC Mining offers a hassle-free mining experience with a cloud mining contract. Cloud mining allows you to purchase a certain amount of hash power for the duration of the contract.
The process involves registering with an email and then signing a contract to start mining Bitcoin.
The minimum payout is 0.0001 BTC and their platform guarantees immediate and automatic payouts.
This platform supports mining BTC, ETH, and LTH.
15 ZHash.pro
ZHash.pro offers pool mining at 0% pool fees.
You can mine 4 coins with them: ZEC, ZEN, BTG and TENT.
The mining process is simple and requires no registration. One only needs a supported wallet and can choose the server of his choice. Next, configure your miner software and you're ready to go.
They have mining servers in Europe, USA and Asia.
Detailed instructions are available with the four pools depending on the mining hardware.
crypto zhash pro mining pool
They also have a Discord channel to get help from other pool members.
But the size of the pool, at least on Discord, seems small with only 89 members online compared to Ethermine, which has 7,371 members online on the same platform.
Small pools aren't necessarily a bad thing, and payouts are bigger than big pools. However, the probability of finding a block may be less with smaller pools due to the lower pool hashrate.
To put aside any apprehensions with ZHash.pro, you can check out their recent payout list for each pool.
The minimum payouts are 0.01 ZEC, 0.1 ZEN, 0.05 BTG and 0.5 TENTE.
K1Piscine has the opportunity to live a solo mining experience. You can find the blocks individually and keep all the reward for yourself.
But solo mining is only recommended if you have powerful hardware or if you are mining cryptocurrencies with the least network difficulties.
You can mine 16 cryptocurrencies with K1Pool. It has servers in China, Europe, and the United States.
You need to create an account to get started. Then you can configure according to your hardware and server location.
You can also mine with the hashrate purchased from NiceHash. They have a separate NiceHash control panel for this.
k1 pool mining
They have a download section for almost all major mining software. Their download portal helps to choose the best mining software based on the mining algorithm.
Each pool page contains vital information about that particular pool such as minimum payouts, pool hashrate, payout frequency.
They also have a discord and telegram channel to get help from pool members. Based on the Discord channel headcount, K1Pool also seems new to the mining sphere.
Still, the user interface is clean and contains a lot of information to help newbies, which is worth a try.
17 MinerGate
Minergate has 7 active mining pools to get you started. You can mine ETH, XMR, LTC, ZEC, among others. It promises a one-click extraction process.
Minergate crypto mining
They have an in-house miner app: MinerGate XFast, which they crown as the fastest in the mining industry. This app supports mining 5 coins. For the rest, the mining servers have to be configured manually.
The process is quite simple, to begin with. You can browse their pool section and select the preferred pool, which links to the app download or server details.
MinerGate charges up to 1.5% pool fees depending on the crypto coin and the reward system. They also have a MinerGate control app for Android.
Simple Mininig is similar to Coinfly in that it has a mining operating system.
You can use their services for free with a single mining rig for 30 days.
simple crypto mining
The user interface is quite simple with useful information to get started.
One can register with them and deposit the amount to continue using their services after the trial period.
Check this out for a great video tutorial on using SimpleMining OS:
19 CudoMiner
Cudo Mining provides cryptocurrency mining software solutions.
Its Cudo mining platform helps in automated mining with minimal manual configuration. It boasts of handling hundreds of thousands of mining rigs and ASIC miners with a single rig.
It has an automatic coin switching feature that sticks to the most profitable algorithm to mine for the best possible profit.
They also have a CudoOS for dedicated mining rigs. The configuration is similar to the mining operating systems we have seen in this article.
You can mine 9 coins with their automated mining so far and over 100 cryptocurrencies with manual setup.
It has a telegram channel with over 6.5 members. The user interface is excellent, and there are tons of articles to help you get around Crypto mining.
They have a commission-based pricing model, so no upfront fees. Their mining software is available for major desktop operating systems including Windows, Linux, and Mac.
20 BetterHash
BestHash is an automated mining tool exclusively available for Windows OS from now on. It detects your hardware and chooses the best algorithm for maximum gains.
Watch this video for an introduction to automated mining with BetterHash:
You can mine 9 cryptocurrencies with BetterHash, including the famous BTC, ETH, XMR, ZEC.
There are two mining modes: manual and profit-switched (automatic).
While there are no mining fees for any cryptocurrency, there are withdrawal fees for Bitcoin (for non-coinbase accounts) and FIRO.
21 Bizcoin
Crypto mining emulator -currency with real money withdrawal.
We offer every second earning accumulation with the possibility of reinvestment and instant withdrawal of funds.
All project transactions are carried out under a secure protocol, which eliminates risks.
Earned funds can be collected at any time from the main balance and request payment.
You will be presented with 3 cryptocurrency pools with a reward of up to 4.9% daily.
Reinvest the funds available on your balance in the most profitable pool.
5 An open and honest project with an income of up to 150% per month:
The flexible structure of the project allows you to start earning without investment, you get income from the first second after registration.
Youtube Video
In summary ??
With cryptocurrency becoming a household term, crypto mining is at an all-time high. There are countless crypto mining rigs to help a technical novice as well as a professional miner.
While it seems logical to put idle computing power into mining, some degree of technical skill is essential to generating profits and avoiding losses. When choosing crypto mining rigs, the critical factors remain supported coins, mining algorithms, reward systems, minimum payout, withdrawal fees, and user reviews.
Alternatively, you should consider getting dedicated gear like Antinoid.
Despite its popularity, crypto mining is not for everyone, especially those with inefficient hardware should avoid mining.
Although cloud crypto mining seems the easiest method to operate, payouts are not guaranteed. It's a bit like investing in the stock market. And once you sign a contract, you are obligated to pay the amount regardless of the mining revenue.
So the advice that comes with cloud mining is: proceed with caution and dig deep before entering this intriguing world of passive income.
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