Users who want to benefit from the Ethereum network should start their work already today. As the built-in Proof-of-Work mechanism will be replaced by Proof-of-Stake, after which the staking will be available.
People who do not have special equipment for mining may notice a significant benefit from the placement of Ethereum. For example, in order to generate income in the future, a person can invest 32 ETH. After that, he will become a validator who gets the right to confirm blocks for certain rewards. This option of investing funds is one of the most successful and stable. Since in the near future, traditional mining will become obsolete.
Therefore, following a few tips you can be successful and get the desired profits.
Starting to WWork with Ethereum
At the beginning of his journey, the user must decide on his approach. There are several types of mining:
- Solo is one of the difficult options. Because in this case, huge computing power is required. Having a whole farm for mining the costs will be increased. Because the power consumption will be much higher than usual, and you will need special equipment for cooling. Also, you will need to take care of the location of all the necessary components of the farm.
- In a pool – in this case, users combine all their power to generate profits. Depending on the share of the computing parts, all the production is divided between the participants.
- Cloud – it is an excellent choice for inexperienced miners. After all, in this case, a person does not need to buy and install special equipment. Beginners can pay another person a certain amount of money to make a profit.
You should pay attention to the last option. Because it is possible to fall for fraudsters on the net. In order to avoid losing money, you should not blindly trust the first person you meet. It is necessary to check the reputation of the person, and then only entrust him with the money.
Choosing the Right Equipment and Software
It is possible to mine Ethereum using an efficient ASIC circuit. But some users prefer a GPU, which is suitable for those who work in a pool. And in that case, you will need:
- PC or special equipment for mining, equipped with powerful GPUs;
- operating system;
- drivers for communication between the operating system and the GPU;
- a wallet for storing cryptocurrency.
ASIC equipment compared to GPUs is more efficient. Therefore, the price of such equipment is much higher. ASIC circuits were created for mining certain coins, and they are more powerful. And in the course of operation you can notice an increase in power consumption. It is recommended to give preference to a GPU miner to make a profit. As it can become a miner of any coins.
Which Software is Better to Choose?
Among the leaders for Ethereum mining there are such software:
- Minedollars – it works in cloud storage and charges 0.0004 BTC for withdrawals.
- Minergate – it charges 1% commission and runs on Windows, MacOS, Linux, Android.
- GoEthereum – does not charge a commission when working alone. Connection is possible through Windows, Linux, Mac OS, Android systems.
- Vinet – the developer has laid the withdrawal of commission in the size of 1%.
- Cudo Miner – supports Cloud, Windows, Linux and the percentage of the charge depends on the production. And the average figure is 1.5 – 6.5%.
- Ethermine – no percentage withdrawals, and it can be connected via Windows, Linux, Mac OS.
Each of these systems works perfectly and performs its function. Some differences are insignificant, so all users choose the best option for themselves.