Basic requirements to start mining

Hardware setup

Once you build a basic mining setup, you can upgrade it as much as you want. This guide will show the steps you need to take to build it for less than a thousand dollars.

The computing power that computers nowadays use for mining comes from a graphics‘ card, instead of the central processor, because the graphics card is much faster at processing instructions. A processor has to deal with many other instructions and controls regarding the rest of the functions of a computer. So, a good graphics card is faster in solving the algorithms that produce the hash numbers needed to complete a block. Your processor should only run the operating system, so it doesn’t influence the performance of the mining process. The same goes for the hard disc. Mining also does not require a lot of internal memory.

post7aYou will need a strong power supply. If you have more than one graphics card, you should get a power supply of at least 750 watts. If you are planning to expand, it is good that you have 1000 or more watts.  Considering the motherboard, try to get one with at least three slots for your video cards so you can later expand. Considering the amount of energy used in the mining process, you could have troubles with cooling down the components. It is the best to don’t even have a case or at least build it the way that air can flow through and around the components, so the cooling is better.

Software setup

The four things that you would need are a very basic:

–    Good connection to the internet

–    You need to update your operating system to the latest

–    Also, don’t forget to update software and drivers for the video cards

–    Instal the mining software: there is a bunch of applications for this purpose, choose whatever you prefer, installation is simple.

–    If you are mining alone, you need coin wallet: this is a client on your computer that allows mining. When you are choosing which cryptocurrencies to mine, bear in mind that bigger currencies are a lot harder to mine, and you will have the least chance of succeeding. It could take years to mine a single block in time.

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Types of mining

You can mine for coins solo or through network pool. If you choose to solo mine, your machine will do it by itself, and coins you get will be only yours. But it can take months or years to finish, at least one block, first, especially for currencies like Bitcoins. Network pool mining is a collaboration of a group that is mining the same block. When the block is found, the reward is divided by the work. With this option, your payouts can be stable. After choosing your method, you need to configure your miner and point it to a chosen wallet. If you have lower results than everyone else, you need to optimize your machine. Your components may be undervolted or overclocked.