How to mine cryptocurrency

The attractiveness of the cryptocurrency market has become so high not because of the anonymity that is talked about from all resources and not because of the high rate of growth in value, which has broken all conceivable and inconceivable records.
The fact is that cryptocurrency, as the know-how of the century, has made a kind of break in the pattern; this electronic money can be mined using your computer.

It is the ability to mine cryptocurrency that makes it special, because you will agree that it is very difficult to refuse a source of additional income, especially if there is no need to make excessive efforts to obtain it.

However, the popularity of cryptocurrencies has made adjustments to the mining process, because instructions that were relevant in 2012 do not work at all in 2018!

That is why in this article we will try to break down simple ways to mine cryptocurrency in modern conditions.

Difficulty of mining or why now is not the time

Capital always tends to move towards financial opportunities. One of these amazing earning opportunities is cryptocurrency mining. Therefore, for ordinary people, mining cryptocurrency on their own PCs alone was effective only in the early stages, when Bitcoin was only an experimental development.

The mining system in all cryptocurrencies is designed in such a way that the more people are involved in the process, the more difficult it becomes to mine the currency.

Naturally, with the increase in market value, mining has become a huge business for large companies and large investors.

Thousands of advanced video cards first pushed back cryptocurrency mining using a processor, and then made it completely impossible to mine alone.


Unfortunately, this business has increased the complexity of production so much that it has become very difficult to recoup the money spent on electricity. Therefore, unless you are the owner of a farm consisting of many advanced video cards, mining cryptocurrency alone will simply not be possible.

A completely logical question arises: how to mine cryptocurrency in conditions of such enormous complexity and wildest competition? In fact, the answer lies on the surface - they will unite with other weak participants in pools to achieve common goals.

Step-by-step algorithm for the future cryptocurrency miner

1. Choosing a cryptocurrency for mining

The first thing you should decide on is, of course, the currency that you would like to mine. It is very important to understand that the more popular and expensive the cryptocurrency, the more difficult it is to mine!

However, you should not go to extremes and start mining unknown cryptocurrencies, since in the future you will probably not be able to sell it for a decent price.
The exception is system projects that not only have unique technology, but also a good advertising component, thanks to which new participants will soon begin to learn about it.

2. Select a pool and register

After determining the cryptocurrency that you want to mine, you need to select a pool that specializes specifically in the currency of your choice.

You need to understand that pool organizers do not work for thanks, so such services always have a commission that will automatically be charged to you for using the service.

Pool is different from pool to pool, namely in different places there may be completely different commissions and restrictions on withdrawal of funds. Therefore, when choosing, be sure to review the reviews in detail, and also familiarize yourself with the operating regulations!

3. We plan and download the mining program

Cryptocurrency mining is not always a profitable activity, since the costs of electricity and equipment depreciation may simply not be covered by the profit received.  

To prevent newcomers from typing angry reviews, almost every pool site has calculators that allow you to predict the number of mined coins, taking into account the complexity of mining and your hardware on which mining will take place.

The pool website will also have its own mining program, which you will need to download and configure in accordance with the instructions for it. In fact, the only thing you need to do is change the address of your wallet, where the mined coins will fall.

Passive cryptocurrency mining

In addition to independent production, the investment approach is becoming increasingly popular.

The fact is that you can participate in the so-called “Cloud Mining”. The bottom line is that for a certain fee, the company will launch a mining program on its server.

On the one hand, you can mine cryptocurrency with minimal investment and not load your own equipment.

On the other hand, a huge number of companies are nothing more than scammers who can simply disappear, as hundreds of other pyramid schemes do.


In fact, today miners are experiencing a huge crisis, and their earnings are simply not comparable to the earnings of traders who speculate on changes in the exchange rate of cryptocurrencies!

Therefore, if you want to start this business, be sure to pick up a calculator and calculate all the possible risks.

An alternative to making this kind of money can be trading cryptocurrencies through a broker. By investing the money that you decided to spend on equipment, you will receive a net profit much faster than with mining.

Brokers who provide the opportunity to make money on cryptocurrencies can be found here -
http://time-forex.com/kriptovaluty/brokery-kriptovalut