Mining Ethereum – For Beginners

<p>Ethereum has fast become one of the most popular cryptocurrencies out there&period; In short&comma; Ethereum is a decentralized &lpar;meaning it cannot be controlled or regulated by any one entity&rpar; block-chain platform where you can buy&comma; sell and trade this <a href&equals;"http&colon;&sol;&sol;www&period;tellmehow&period;co&sol;cryptocurrencies-legitimate-investment-options-australia&sol;">cryptocurrency<&sol;a>&period; It is also a platform where developers can create and distribute apps without any regulations or third-party interference&period; But&comma; Ethereum has also caught the attention of the multi-billion dollar gaming industry&comma; attracting big names like Square Enix &lpar;founders of Tomb Raider&rpar;&period; Popular opinion says that Mining Ethereum has become one of the most profitable ways to earn for a while now&period; That being said&comma; get a <a href&equals;"https&colon;&sol;&sol;platypusterminal&period;com&sol;services&sol;">cryptocurrency education<&sol;a> to start mining Ethereum in an easy and uncomplicated way&period;<&sol;p>&NewLine;<h4 style&equals;"text-align&colon; center&semi;"><strong>Get the Hardware<&sol;strong><&sol;h4>&NewLine;<p>To start mining&comma; you’ll firstly need the gaming equipment that can accommodate the process&period; The hardware you’ll need is called a Graphical Processing Unit&comma; in short&comma; a GPU&period; When buying a GPU&comma; check the hardware’s hash rate before purchasing it&period; The hash rate refers to the speed at which the device operates&period; This is very important&comma; seeing as mining Ethereum will basically comprise you being able to get rewards by answering questions faster than anyone else &&num;8211&semi; so the faster your hash rate&comma; the better your chances are of acquiring Ethereum&period;<&sol;p>&NewLine;<h4 style&equals;"text-align&colon; center&semi;"><strong>Create a Wallet<&sol;strong><&sol;h4>&NewLine;<p>You’ll need an <a href&equals;"https&colon;&sol;&sol;swyftx&period;com&period;au&sol;features&sol;">Ethereum wallet<&sol;a> to store your Ethereum in when you earn it&comma; this is a very easy and uncomplicated step on your path to mining the cryptocurrency&period; Having a wallet will enable you to see what your balance is&comma; transact and also manage everything from one location&period; The wallet also doesn&&num;8217&semi;t have control over your Ethereum&comma; it’s basically just keeping your belongings safe&period;<&sol;p>&NewLine;<p>&nbsp&semi;<&sol;p>&NewLine;<h4 style&equals;"text-align&colon; center&semi;"><strong>Ways to Mine<&sol;strong><&sol;h4>&NewLine;<p>There are three ways to mine Ethereum&colon;<&sol;p>&NewLine;<ul>&NewLine;<li aria-level&equals;"1">Cloud mining &&num;8211&semi; paying someone to mine for you&comma; you&&num;8217&semi;re basically paying them for their time they would’ve spent mining for themselves to mine for you instead&period;<&sol;li>&NewLine;<li aria-level&equals;"1">Pool Mining &&num;8211&semi; this method refers to working alongside other people in a team where everyone is mining individually&comma; but if someone mines a block&comma; everyone shares in the reward&period;<&sol;li>&NewLine;<li aria-level&equals;"1">Mining Alone &&num;8211&semi; This may seem the most logical option&comma; but mining alone means you have to compete with a lot of people as well as businesses with loads of resources and win to successfully mine Ethereum&period; The point is with this method&comma; the odds are much slimmer than with the other methods&period;<&sol;li>&NewLine;<&sol;ul>&NewLine;<p>Out of the three&comma; Pool Mining is the most recommended&period;<&sol;p>&NewLine;<h4 style&equals;"text-align&colon; center&semi;"><strong>Install Mining Software<&sol;strong><&sol;h4>&NewLine;<p>The obvious software to use would be claymore&period; By installing the software&comma; you&&num;8217&semi;re allowing your computer to mine Ethereum for you round the clock&period; Be sure to check every now and again how much you’ve mined &&num;8211&semi; this is where things get fun&period;<&sol;p>&NewLine;<p>Once you’ve successfully mined Ethereum&comma; you can now sell and trade this cryptocurrency on other platforms&period; <a href&equals;"https&colon;&sol;&sol;swyftx&period;com&period;au&sol;buy&sol;eth-ethereum&sol;">Trading ETH<&sol;a> is a whole new and fun experience on its own&comma; and there are platforms to assist you with any questions or needs you might have&period; If the whole mining Ethereum setup isn’t for you&comma; you can simply buy Ethereum as well&period; Whatever you choose to do&comma; best of luck out there&excl;<&sol;p>&NewLine;<p style&equals;"text-align&colon; center&semi;"><em>This article contains sponsored links&period;<&sol;em><&sol;p>&NewLine;