BITCOIN EXCHANGES

BITCOIN EXCHANGES

Minergate is Bitcoin and Altcoin Pool Mining service where you can contribute with your computing power you could even use a smartphone or tablet they have an App (Do Not suggest doing this as it could over heat the device if you have a spare phone that you can leave some where cool and keep well ventilated but be careful) and depending on the power of the devise (HashRate) you will receive payment in the coin that you have chosen to mine and if you are a gamming nut and have multiple PC’s with powerful graphics cards or (GPU) (CPU) you might be able to make a few bucks and with the price of most crypto currency’s continuing to rise the (ROI) retune of investment might not be worth it at this time of mining but in 18 months the $XMR you mine today might be worth 50 times as much in 18 months not saying this will happen but you what could see what is possible.

Will be trying and break down the Pro’s and Con’s for this site and what to look for to make the best choice on what to mine

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MinerGate was one of the very first crypto nodes mining pools they have some of the biggest hash rates going what this means is the more shared mining power of a mining pool has in hashrate the more likely that pool will earn a block reward so it is best in my opinion to go for the higher pool hashrated coins

Keep in mind that this will change so make sure you check this every couple of days adjust when needed to get the most of your HashPower or if you are mining a coin that you like then do whatever that suits you and do your research on what you want to get into some coin’s might not be worth that much now compared to the Bitcoin price but could blow up but if are just looking to flip whatever you mine for Bitcoin then go for best pool 2 world hashrate ratio.

Currency

There multiple currencies’ you can mine up to 14 different coin of the most popular cryptocurrencys Bitcoin Litecoin Eth Monero just to name few.

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Pool

The Pool is the combined hash power of all Minergate workers for that coin so take note of this compered to World column if the pool is over 30%-40% could be profitable coin to mine.

World

World is the total world hashrate power take note the higher the difficulty the harder it will to get Block rewards what I do if I want to mine that coin is change the pool fee to PPS Payed per share stay away from PPLNS if the world hashrate or difficulty is too high because it will be harder to get paid.

Pool fees

PPS Payed per share 1.5% fee for per share of work done. My strategy with this is to stick with the good Pool to Wold HashRate ratio so stay with 11%-26% of pool to total world hashrate this theory should be good. You can even go with higher world hashrate because you get PPS done so you don’t have to find a block reward for the pool to get paid.

PPLNS Payed per lose and share 1% The fee is lower but you only get payed once a block gets found so make sure you check when the last block was found and stay with something that finds blocks every 24 hours or less so get you payed for your GPU/CPU work so check this in the Pool stats tab.

Workers

This is the number of people running CPU/GPU systems you can run both off the one computer and this is counted as 2 workers good thing to keep in mind if there are not many workers for a coin there could be some think wrong with the coin so do your research on it if you plan to mine that coin as you might be putting you’re GPU/CPU’s to work for nothing.

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Rate

1 mined coin worth of Bitcoin you can change this to USD or EUR if you want.

Calculator ​ It’s Handy tool to work out a general total of the profit you will make mining it gives you multiple time frames remember this could always change as the mining hash rate can change so keep this in mind but it’s still a great tool to use.

Dashboard

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Unconfirmed

Is what you have earned it will take a certain amount of coins to be mined before it goes into your balance all coins are different so don’t worry if don’t see it in your total balance all coins are different as long as you are getting (Good shares) you are mining.

how the fees work PPS will go straight into unconfirmed. 1.5% Fee PPLnS Will go into unconfirmed only when the mining Pool finds a Block. 1% Fee In my option only use this when the a block is fund every 24 hours

Summery on Mining strategy

• Look for pools that have a good amount of workers this helps you know that people are making money mining it and not dud coin.
• If you are going to use PPLNS because it is 50% cheaper fees make sure that blocks are being found regularly. (Pool stats)
• If you are going to use PPS make sure that pool hash rate is good ratio to the world hash rate.
• Do research on the Altcoin that you plan to mine.
• If you plan to use a smartphone or tablet use you’re spare devise keep cool and well ventilated

CLOUDMINING They have a cloudmining program not really sure what the ROI (return of investment) would be with this as I have not bought any contracts if I do will update this on what the ROI is. Most cloudmining servicer's ROI are about 6 to 9 month period some that I have used are Genesis Mining and hashflare I did a review on Genesis Mining on the pros and cons and strategy I use to deveserfiy my portfolio from the profits that I have made.

Original article and pictures take www.moarcoins.com site