ZCash is maturing as a cryptocurrency. Yet, there is quite a while before it nears the size of Bitcoin and Ethereum Blockchain. Statistics claim that mining is a profitable venture. This was proven in the year 2016, when ZCash was first introduced to masses, its mining was a good option for earning big profits. As there were only 12 ZCash coins in circulation, their value and prices were extremely high. So much so, that one ZCash coin was worth almost 3000 Bitcoin!
What is mining and how to mine ZCash?
Before one begins, there is an important factor that needs to be kept in mind. The entire responsibility of mining lies on the miners. Moreover, they need to take special precautions while using a system that has high configurations or uses enormous amount of power for longer duration. This is because in the rarest of the rare chances, that using this level of high power voltage may end up burning the entire house down. Additionally, the electronic devices are prone to short circuits and are equally dangerous. Additionally, there is no guarantee that in the end, one can make any profits due to the fluctuations in exchange rates! So, always heed Murphy’s law. “Anything that can go wrong will go wrong”. You have been warned!
Moving on to ZCash Mining, there are a few things that are required and few that need to be kept in mind for the same. They are:
- Gather the resources:
To mine ZCash, one needs three things, A GPU, ZCash account and a miner. It is recommended that one also get a strong video card. In case one plans on mining ZCash with the help of a standard laptop, cell phones, or an extremely old video card, then the margin of profit shall be negligible. For reference purposes, we shall hypothetically mine ZCash with the help of tool named ‘miningpoolhub’.
- Registration with mining pools:
Visit this website, fill in the required information and click on the confirm link that is sent via email. Now, you’ll have to choose a 4-digit pin code. This will be used in each update. Furthermore, you’ll be asked to enter the site details and once you have done this, just select ZCash. This is on the left side. Now, click on “wallet” and enter your ZEC wallet address. After completing this, click on “Update Account”.
Also Read : Zcash (ZEC): Know All About It
- ZCash Mining Software:
There are many versions of the software that you are looking for! These versions are sorted on the basis of configuration on one’s hardware. So, find and download the most appropriate ZCash Mining Software. But, keep in mind that executable file named “mine.bat” should be created and there should be some specific content inside it. It goes as:
exe -cd 0 -t 4 -l us-east1.zcash.miningpoolhub.com:20570-u USER.rig9 -p x
Keep in mind that the word “USER” should be replaced with the username you chose for miningpoolhub. The word ‘rig1’ should not be replaced unless you are planning to mine in more than one machine.
- ZCash Mining Hardware:
For turning on the mining and the monitors of miningpoolhub, one is required to click on “workers” and select one of the jobs according to your card. After you have done this, just run the file “mine.bat.” But before doing so, ensure that no errors are there and the message which is approving your worker is received. If you are wondering why you have not received any message yet, it is possible something is wrong. In this scenario, you should check the entire process again so that you mine ZCash properly. So, after you have received the message and the program has started running, you will notice that worker which is called “miner” has been added to the “workers” screen. After you have completed all these steps, click “Dashboard” (on the site) to see data regarding mining. This process may take a few minutes, but you’ll see that it is been updated according to the work mining machine does.
- Withdrawing the cryptocurrency:
Once you have collected a certain amount and are looking forward to withdrawing it, then just follow these simple steps. Click on “wallet” and then “Cash Out”. Furthermore, verify the amount and wallet address. After doing the same, the amount will be credited to your wallet.
- After Burn Care:
We suggest you install an application named ‘MSI Afterburner’, so that you can easily control the card’s fan. If you operate with default settings, that means its power is low. Hence, the temperature of the GPU might reach 70-80 degrees Celsius. This is normal for the machines that are been operated for 2/3 hours but not for those that are made to run an entire day. It is therefore advisable to invest in a cooling system.
You can get an estimate of the profit that you are about to make by visiting CryptoCompare. It helps depict the overall and its estimated value in dollars.
This is not the only option available for mining ZCash, there are others as well. One can opt for other ZCash mining hardware and ZCash mining software depending on the availability of resources and technical knowledge. Many third-party sites are available whose services can be availed depending on the requirements of the user.