Monero is a privacy coin which at present time is on the top 10 list on coinmarketcap.
Mining Monero can be a good way to earn money because of its resistance to ASIC’s and the ability to mine even by CPU. Monero is one of the most profitable coins to mine. Best way to mine Monero is with a CPU or GPU.
In this guide will show the equipment and software you need to mine Monero.
Best GPU Cards to Mine Monero
The project aims to build a trading platform and is supported, among others by billionaire VC fund Tim Draper.
10X XEON PHI 7240 30000 H/s
10X XEON PHI 7220 28000 H/s
8X XEON PHI 7220 24000 H/s
Best CPU’s to Mine Monero
(4) INTEL XEON E7-8867L 1250 H/s
1 X AMD EPYC 7401P 24-CORE 1800 H/s
1X INTEL XEON E5-2670 8C 20MB 485 H/s
Install Monero Mining Software
A good mining software is Stak. You can download it here.
When you are done click the exe file and follow the instructions.
Mining Pool to Join
It is advised that you do not do solo mining as you may not get any reward.
When your application starts, you will be asked to choose which coin to mine, so you choose Monero, then add the mining pool details.
Mining pools get a fee of about 0.5-1%. It is worth joining a mining pool to get consistent earnings.
Some of the mining pools we can use are
Servers in: France, Germany, Canada
1% Pool Fee
~25,000 Connected Users
0.5XMR Minimum Payout
0.5XMR Minimum Payout
Servers in: Europe (2), US East, US West, Asia
1% Pool Fee, and Payout Commission of 0.015XMR
~5000 Connected Users
1XMR Minimum Payout
Servers in: Europe, USA
1.5% Pool Fee, and Payout Commission of 0.014XMR for trade wallets, or 0.008XMR for typical wallets
We will use the Nimer XMR pool as it has most minimal expenses, and is the nearest server to me (you’ll need to pick the server nearest to your area to limit dormancy). The accompanying picture demonstrates the association points of interest to mineXMR which we will include in the application.
For my setup, I will include into the application the server I wish to use with the port number. For instance, I will utilize ‘ca.minexmr.com:5555’.
Monero Wallet Address
When this is finished, it requests your wallet address (or pool login). You can easily create a Monero wallet here https://mymonero.com/. When you have your wallet address, enter it into the application. For password leave it blank and hit enter. Hit no, for TLS/SSL. We would prefer not to utilize NiceHash, and we would prefer not to utilize different pools right now (despite the fact that it might be useful to set up extra pools with programmed switchover just in the event that one goes down). Every one of these settings can be balanced in the config record later on.
Now the program will run according to the GPU’s you have introduced. You can see you miner stats on this page entering your Monero address.
Mining with CPU
Another way to mine Monero would be to use your CPU. If you have a powerful processor you can easily mine Monero . To do that you can use Stak and edit the config file. But there is a more easy way to do that using a service called Coinhive.
Basically, you can start mining immediately from your browser.
Register at coinhive.com adding your Monero address on the payment details and hit the button Start mining as shown in the picture.
I have used this service and here it is my results.
This is it! Now you are able to mine Monero with GPU or CPU.