In this article, I want to introduce you to a way of mining cryptocurrencies (coins) with graphics cards (GPUs) and receiving them in a wallet. After receiving the coins, you can convert them into a fiat currency (e.g., Euro) and send them to your account. First, you should learn more about cryptocurrencies.
Here, I'll only show you how you can mine and introduce wallets.
What Do I Need for Mining?
You can use your current computer or build a mining rig. However, to yield a lot of returns, you'll need multiple graphics cards, and there are specialized motherboards for that, such as Asrock H110 Pro BTC+. But as mentioned, you can test it first with your PC, which probably has a graphics card installed. To learn more about building and wiring, you can watch my videos on YouTube.
Why Do I Need a Wallet?
First, you need a wallet because you need a purse where you can receive compensation. If you don't have a wallet, no one can send you anything. There are so many wallets that it's easy to lose track of which one to use. I will list some here and write a little about each.
Binance (Photo verification required - Exchange, deposits and withdrawals possible afterward)
Crypto.com (No verification required - Exchange, deposits, and withdrawals)
N26 (Video verification required - Deposits and withdrawals, free debit card, digital smartphone payments)
Where Can I Mine?
You could mine solo, but you might only have something collected in a year. Therefore, people use pools to mine together and receive coins faster. To find the right pool, visit this page where you can find all the cryptocurrencies you can mine.
Mining Pool Stats
Ravencoin is one of the cryptocurrencies that can be mined using GPUs. It is designed to efficiently handle one specific function: the transfer of assets from one party to another. You can mine Ravencoin using specific mining pools and miners.
Kaspa is another cryptocurrency that you can mine using graphics cards. It aims to provide scalable, secure, and decentralized digital currency solutions. Like Ravencoin, you can mine Kaspa by joining mining pools and using specialized mining software.
How Can I Mine?
Once the miner is downloaded, it should first be added to Windows 10 security exceptions. Once that's done, you can enter the wallet address for the specific cryptocurrency and the pool in the batch file named mine_[coin].
Is Mining Legal?
Mining legality varies by jurisdiction and the specific activities involved. In many countries, mining is legal as long as you comply with relevant regulations, pay taxes on income, and ensure that you are not engaging in fraudulent or malicious activities. Always consult your local laws or seek legal advice to ensure that your mining activities are in compliance.
Is Mining Profitable?
This question should be answered by everyone individually, and it's best to test it with small systems and small sums. But here's another video with more information and inspiration.
Satoshi Nakamoto: The Creator of Bitcoin
Satoshi Nakamoto is the pseudonym of the unknown person or group of people who developed Bitcoin, the first decentralized cryptocurrency. Nakamoto's innovative creation has paved the way for the blockchain technology and the rise of various digital currencies. Though Nakamoto's identity remains a mystery, their vision was to create a peer-to-peer electronic cash system that operates without a central authority. Bitcoin's release in 2009 marked the beginning of a new era in the world of finance, fostering an environment for mining and other blockchain-related activities.
If you have any questions, feel free to leave them in the comment box or on social media networks.