Since Cryptocurrency has become a vogue in the market, everyone wants to try their hands on it. Where some people have invested for long-term, some play on a daily-basis. However, there are a significant number of people, who don’t want to invest but wish to produce these cryptocurrencies. These producers are called ‘miners’, who mine cryptocurrencies using different technologies and powerful machineries. Although, the inventories required to mine any cryptocurrency aren’t available for everyone as they are costly and work on heavy duty power supply. But, thanks to technology, that provides the opportunity to mine your own cryptocurrency.
Ethereum, the second most popular digital currency after Bitcoin, is also a result of mining. Although, the technology and platform to mine Ether is different than Bitcoin, it can also be mined using your home PC or laptop. If you’ve evaluated your profit for mining Ethereum and possess a powerful computer, you’re halfway there. It is important to know that mining Ethereum doesn’t guarantee any instant cash reward and depends on the mining difficulty too.
Today, we’re going to elaborate on how you can mine Ethereum on your PC or laptop using MinerGate client. This tool connects you to MinerGate’s mining pool, where you share your computer’s resources to mine the Ether and then subsequently get your share. The MinerGate also provides you with the estimated profit that you may achieve per year, which doesn’t include your expenses on your electricity. Here’s how to mine Ethereum on your laptop:
1. Install MinerGate client: The foremost step towards owning your own Ether is to download and install MinerGate client on your laptop. You must launch your web browser and visit https://minergate.com. You may face different dialogue boxes depending upon the operating system. Once the tool is downloaded, launch/run the program and agree to its license policy after reading. On the next screen, select the option that says ‘Add MinerGate to the system PATH for current user’ along with ‘Create MinerGate Desktop Icon’. Click the ‘Next’ button followed by ‘Install’.
2. Create Account: Now that you’ve downloaded and installed MinerGate, it is time for you to launch the application from the desktop icon. Click ‘Finish’ to automatically launch the application. Once the tool is loaded, click on ‘Create Account’ at the right-hand side top corner. You must provide all the required information and make a note of the ID and the password as you would need it to encash your future funds. Once done, click on ‘Register’.
3. Benchmarking: When you decide to mine your own Ethereum, you must know if your computer is able to mine it or not. The coin mining is determined by the hashrate that your computer can afford by its processor. In short, it depends on the capability of your computer’s processor. If you’re not sure about the ability of your PC, click on ‘Benchmark’ at top and click ‘Start Benchmark’. The tool automatically determines the power of your PC and lets you know the types of coins it is able to mine for you. If you wish to professionally mine digital currency, you may opt for the dedicated tools available in market. Another way to mine Ether on your home PC/laptop is to use a PC with multiple graphics cards as it would be more efficient than your old CPU.
4. Mine Ethereum: Once you’re done checking the CPU capability, you can now jump on the bandwagon. Click on the ‘Miner’ tab at the top of the screen and choose Ether or any other currency if you’re interested. Click on the the ‘Start Mining’ button against ETH. MinerGate notifies you while loading a 1GB DAG (Dagger Hashimoto), which represents the proof of work algorithms that is necessary to mine Ethereum data blocks.
5. Check Progress: Once you’ve started mining, you must know the balance of the Ether that you’ve mined till now. You can check the balance by clicking on ‘Miner’ tab to view your currency balance. It should reflect all the Ether that you’ve mined till the date.
Overall, it is not as hard as it sounds to mine Ethereum on your laptop. With all the required and adequate tools, you can mine your own digital currency and get the cash reward against it. However, you must know that mining a digital currency is not profitable every time. It requires huge computing power that only dedicated mining tools provide. These professional tools are very expensive and consume a lot of energy. If you’re using your laptop for mining, you must ensure the profitability after deducting all the possible expenses.