The other day I wrote an article about Monaco and this time, I will be writing about how to mine Monaco, anyone with a PC can do it.
Sorts of Monacoin Mining Methods
There are three diverse ways on how to mine Monacoin. The three strategies of mining Monacoine are solo mining, pool mining, and cloud mining, here we are going to examine these three mining methods.
Pool mining is the foremost common sort of mining for Monacoine.
Solo Mining
Solo mining is one of the foremost common strategies of mining monacoine. Solo mining could be a strategy where the mining is done by a single individual, and since it is done by a single individual, it requires both time and information.
In any case, since you’re mining alone, you’ll get all the rewards on the off chance that you’re successful. However, solo mining requires a high-performance PC, which is exceptionally costly and burdensome, and there are too expansive companies within the mining industry, so it is troublesome for a single individual to compete.
Cloud Mining
One of the foremost prevalent strategies of mining monacoins is cloud mining. Cloud mining could be a strategy of mining where you pay a charge to a mining company or merchant to do the mining for you.
The advantage of cloud mining is merely do not ought to be a virtual currency novice to participate, and you do not get to know how to mine. Be that as it may, a few cloud mining contracts are for a indicated period of a long time, so it isn’t certain that you just will get your money’s worth.
Pool Mining
One of the foremost common ways of mining monacoins is pool mining. Pool mining could be a strategy of mining in which numerous individuals work together, and since it is done together, the huge cost of power can be shared and reduced.
In pool mining, you wish to enroll with a pool location, which could be a put where different diggers accumulate to mine. Usually more useful than solo mining, because it increments the chances of victory, but the individuals ought to share the reward.
Steps to Mining Monacoin
In this article, we’ll write around pool mining. This is often since pool mining is the most effortless and the slightest costly way to mine.
Prepare your wallet
You need a wallet to mine MonaCoin. The wallet is a place to store virtual currency. When you open an account with cryptocurrency exchange, you will receive a wallet that can manage cryptocurrencies. If you do not have a wallet, you will first need to open an account on the exchange that will settle Monaco.
If you do not have a wallet, consider opening an account on an exchange transaction in Monaco. I wrote an article about recommended exchanges in Japan.
Downloading software for pool mining
Pool mining, as mentioned above, is the process of collaborative mining by multiple people. Pool mining distributes electricity, so you can save on your electricity bill and make more money. Let’s download it. This article introduces the VIP POOL that are widely used in MonaCoin mining.
The VIP Pool is the largest of the Monaco mining pools, and it is able to perform stable mining.
Once you have accessed the VIP POOL, click on Guest in the top right corner and then click on Register.
You will need to enter a 4-digit PIN such as username, Monacoin address, password, email address, withdrawal, etc. The Monacoin address must be the Bill of Exchange deposit address or the address of a wallet such as Monacoin Core. After entering the correct information and clicking Register, you will receive a confirmation email and follow the link to approve your account.
Once you have registered, you can log in. Once you have logged in, click on Account -> Workers in the menu on the left, and you will see the screen in the image above. A worker is a name you give yourself when you are mining. If you create multiple workers, you can mine on multiple devices. Enter the worker’s name and password to add a worker.
Installing CUDA
Install CUDA After doing this, you can start mining. Download the mining tool, set it up, launch it, and you’re ready to start mining. Use a mining tool called ccminer. You can download ccminer from here. When you download a file, your antivirus software may detect it, so you need to set exclusions or stop real-time scanning.
Download the ccminer
After doing this, you can start mining. Download the mining tool, set it up, launch it, and you’re ready to start mining. Use a mining tool called ccminer. You can download ccminer from here.
When you download a file, your antivirus software may detect it, so you need to set exclusions or stop real-time scanning.Once you have downloaded and unzipped the file, you will see the file LYRA2REv2-START.bat in the image above, which you can edit by right-clicking on it. Delete all the text in the first file and rewrite it as shown below.
ccminer.exe -a lyra2v2 -o stratum+tcp://vippool.net:8888 -u (username).(worker name) -p (worker password)
E.g.) ccminer.exe -a lyra2v2 -o stratum+tcp://vippool.net:8888 -u ken.shoko -p lucky
Once you have rewritten the file, save it over. You are now all set.
Finally, double-click on LYRA2REv2-START.bat to open the same window as in the image above and start the miner.
Go back to the VIP Pool workers page. If you can see a checkmark where it says “active”, then you can be sure that your mining is working correctly.
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