Posted on

The top 3 GPU mining rigs based on cost and value for money

With all that is going in the crypto market space there is still a definite boom – so you should’nt be worried about investing in the currency instead you should worry about not investing in it because there are sure profits to be made. In 2018, you may choose to invest in the GPU mining market which will help you mine cryptocurrencies or ASIC’s.

Instead of wasting your time on checking which GPUs are the most appropriate for you, we decided to list the options which are likely to suit you best in order to continue/begin long your mining journey. So, henceforth is the list of GPUs you could take into consideration in order to make use of – the ones which are not only energy efficient but also are amongst the cheapest of the lot so that you’re ble to reap the highest profits out of the whole procedure.

  1. Nvidia GeForce GTX 1060

This graphics card is available on the market for approximately R 6000 and is listed here– which means the price at which it is marketed is quite reasonable. Apart from this, it does not make use of a high amount of electricity and does a decent job when it comes to mining cryptocurrencies. Apart from this, if you want to use your graphic card for other purposes – then – this device is your go-to option because it will support your gaming endeavors. More info on this rig can be viewed here.

  1. Nvidia GeForce GTX 1070

This GPU manages a mining rate of around 30 MH/s and does not require a lot of energy to do so. However, one thing that you have to keep in mind is that the more energy your GPU decides to use – the lower your cryptocurrency profits are. Thus, you have to make sure that the graphics card that you make use of is energy efficient. This is yet another amazing GPU mining hardware that could be used that has a good balance of mining profitability and energy usage. Given the amazing qualities that it has to offer – it is available in the market for around R 7500 and various products are listed here. And rigs based on this card can be viewed here.

  1. AMD Radeon RX Vega 56

Rumor has it that this mining rig is better than the Nvidia GeForce GTX 1060 and also is cheaper. However, this mining rig is not very easily available in the market and you need to put in some effort in order to find it. Also, it is not a very great option to employ this graphic card as your 24×7 mining rig because – it might as well eat your pocket out and wouldn’t reap as many profits in return. Nonetheless, comparatively this option is a good one to inculcate. The price of this GPU is around Rs 16000.

Thus, you have to choose the best option amongst the above-mentioned ones – prudently. GPU is a good option to resort to but you have to keep in mind that it’s not as cost efficient as you might think of it to be.

Posted on

BitcoinProspers Ultimate Guide to Mining Ethereum

The ultimate guide to Ethereum mining

If you are lured by the investments made in cryptocurrency network, then you must be searching for new ways to invest in this striking market. You need not to worry as you have arrived at the right place.

With the expansion of cryptocurrency market, more and more people are planning on investing in Ethereum, just like Bitcoin. However, most people don’t know that they can also mine in this platform to generate a passive income every month.

Even without having technical knowledge, a normal person can learn the basics of Ethereum mining.

But before getting into details, it is imperative to know why you should opt for Ethereum mining.

Why start mining in Etherrum?

This relates to the fact that Ethereum is one of the fastest growing crypto currencies only next to Bitcoin. The miners are rewarded for providing solutions to challenging math problems through blockchain technology. Few years ago, the price of Ethereum was $1, this has now elevated to a booming sum of $400. The rapid growth of popularity of this mining technology has injected excitement in the users worldwide to not to miss this ever-growing money-making opportunity. And you should not be the one to miss out in the race that is already started. Let’s know the methods of mining in Ethereum pools.

Starting Etherum mining? Here’s what you will need

The basic necessity for mining includes a computer and a graphics card. You must be wondering why to use graphics card other than playing games. This is because a graphics card will help in computing an algorithm that the computer attempts to solve to generate Ethereum. The trick here is to generate the block almost every 15 seconds by the GPU. The Ethereum pays a sum of money in the form of Ethereum or ETH, say 5 or 10, to miners who are able to find the block.

A complete professional mining setup might include 5-6 processors and will be able to find an average of 0.5Eth per month.

Joining the mining pool,

After setting up your equipment for mining, it is important to join a mining pool. Mining pools of Ethereum combines hashrates of all miners and increase the chances of finding a block. This helps miners as they can get a steady payout from the pool. There are various mining pools that can be used. For instance, NiceHash is a popular choice as the pool chooses the best algorithm to hash and pays out in bitcoin. Another pool is the Nanopool which has a large community. The main highlight of Nanopool is that it even pays if a miner was close to solving a block.

How do you get paid?

When your video card has successfully mined a block, you are entitled to receive 3 – 5 ETH rewards. You will also get the mining fees associated with the transaction of the money. This is also the reason, many miners offer to do the job with high transaction fees. The rewards are transferred to the Ethereum linked wallets of the miners.

Conclusion

After installing setup, you just need to sit and view your graphics card find the blocks and hash the algorithms. The approximate income is calculated on the basis of your hash rate and the exclusions will be your electricity bill. With passage of time, the difficulty of Ethereum mining is increasing, not to mention the increase in costs associated with the setup. However, if we look at the facts, the difficulties have dropped thanks to the decrease in the rewards. Either way, it is a field that tracts million of miners around the world and is worth a try.