Getting Started in Cryptocurrency Mining

I have been asked many times “what is the best XYZ” to use and my reply is always the same.

Quote by Dan “I can only explain what works for me, the rest is for you to decide”

This gets me off the hook if it goes pear shaped but ultimately its the truth, you need to decide for yourself and feel comfortable with that decision, weather its time to cash out some coin, buy a new rig or what pool to use . never looks back and think, I should have sold or I shouldn’t have sold, what’s done is done and move on. If it was a bad decision then learn from it and don’t do it again.

The biggest fool is one that doesn’t learn from their mistakes.

Cryptocurrency Wallets

There are lots of wallets about and its all personal selection. Myself, I like to use the original recommended Coins Wallet.  These are my main 3 wallets but I do have others but essentially all Core classic wallets

Bitcoin – BTC Core Wallet

Litecoin – LTC Core Wallet

I would all ways recommend running your wallet inside a Virtual machine of some sort, I just use Hyper-V in windows. It adds another layer of security to the wallet as its isolated from your day-to-day computer use. Recently we have seen malware that monitors the clipboard looking for wallet address and passwords so this reduces that risk as you only use the VM for your wallet.


Cryptocurrency Exchanges

A lot of exchanges around these day and new ones are opening all the time. I original used MTGox (2013) and then moved to BTC-e when is closed (2013) only to find recently (2017) that BTC-e was on some sort of link with Gox. I guess bad apples and all

Currently I am using

The Kraken Exchange – FIAT cash out Exchange

Bittrex – Coin to Coin exchange, most of the time they have better rates then Kraken


Cryptocurrency Mining Pools

You always need to have at least 3 mining pools setup and configured for you miners. Have them fully setup tested and ready to go, you don’t want to be having down time while finding a new pool.

Currently I use the following

NiceHash – Once a week pay out with great returns. Its stable and consistent but only pays BTC. Miners here pay for my electricity bill

Mining-Dutch – Pays out in a lot of different coins and is always adding new coin all the time. Great if your looking to get some SHA256 coins from your script miners

GranatGas-Pool – New Pool to the scene promising some good pay out. Still undecided about this pool but we will see.

ProHashing – This pool has some amazing feature like being paid a % split of coins. You can be paid 20% LTC and 20% RVN then 60% BTC all from your ASOC or even GPU ETH Mining Efforts efforts.


Cryptocurrency Hardware Miners

I’ve had a lot of different miners over the years but I am currently using

Innosilicon – I still have 5x A4 Dominators running until I can replace with some L3+. They have just released the A4+ LTCMaster

Bitmain – L3+ Miner, Currently running 6 of these units in The Mine. This is the latest Scrypt miner from Bitmain and IMHO the best to buy.



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