Minergate had created an easy-to-use GUI miner by enable us to join the cryptocurrency mining pool. Thanks to it's easy user interface miner, now everyone can become a miner with personal computer. Let's start mining with Minergate.
Step 1: Get MinerGate
The first thing that we have to do is open an account with MinerGate. And then download and install MinerGate miner. Choose the suitable miner version for your computer.
Login to your account with your registered email and password. You can check how good is your hardware by going to 'BENCHMARK' to start benchmark your hardware, or you can just skip to mining.
Step 2: Start Mining
Go to 'MINER' to see which cryptocurrency that you want to mine. There are a few factors that you may want to take into consideration before starting mining.
2.1 Mining Profitability
You can check the mining profitability of each coin using MinerGate Calculator. Initially you have to start mining on any cryptocurrency. For the sake of this post, I use BCN as an example. After you click on 'Start mining', the hash rate will show up on the user interface.
Go to MinerGate Calculator, and key in 141.57 in the box provided. Now you can estimate the average returns of your mining.
2.2 Minimum Withdrawal and Fees
You can check the minimum withdrawal and fees for each coin through 'WALLET' and click on 'Withdraw'.
Summary of Minimum Withdrawal:
- AEON: 0.01 AEON
- BCN: 100 BCN
- DSH: 0.01 DSH
- ETC: 0.001 ETC
- ETH: 0.001 ETH
- FCN: 0.01 FCN
- INF8: 0.01 INF8
- MCN: 0.01 MCN
- QCN: 0.01 QCN
- XDN: 1 XDN
- XMR: 0.1 XMR
Summary of Fees:
- AEON: 0.01 AEON (0.017 USD)
- BCN: 0.1 BCN (0.00013 USD)
- DSH: 0.001 DSH (0.00002 USD)
- ETC: 0.00084 ETC (0.0094 USD)
- ETH: 0.013 ETH (3.89 USD)
- FCN: 0.000001 FCN (≈ 0 USD)
- INF8: 0.000001 INF8 (Unavailable)
- MCN: 0.001 MCN (≈ 0 USD)
- QCN: 0.005 QCN (0.000079 USD)
- XDN: 0.1 XDN (0.00014 USD)
- XMR: 0.02 - 0.1 XMR (1.76 - 8.80 USD)
*Fees are subjected to time to time price
Step 3: Withdrawal
You can make withdrawal either to exchanger or to wallet. Simply key in the amount that you want to withdraw and the address, then proceed to withdraw.
Check Supported Exchanger:
This is how I start mining with MinerGate. Currently, I am mining Bytecoin (BCN) and I am using HitBTC exchanger to exchange BCN to other cryptocurrency. For BCN wallet, I am using FreeWallet.
Extra:
Check crpytocurrency market capitalizations here
Get daily updates on cryptocurrency by Boxmining (Youtuber)