1) Choose a cryptocurrency to mine
Here are a few considerations to keep in mind when choosing a coin to mine:
- Current market trends
- Upside potential of the coin (technology/hype/team)
- Current difficulty and historical difficultly rise trends
- Hardware requirements (ASIC or GPU)
2) Choose and buy mining hardware
We recommend considering the following factors when selecting mining hardware:
- Current profitability of the mining hardware
- Versatility of the miner (algorithms)
- Budgetary requirements
- Hosting space for the miner
3) Create a wallet and join a mining pool
You will need a wallet that supports the coin you decided to mine. Many cryptocurrencies have developed their own wallets which is typically the best place to start. Finally, choose a mining pool to join or try your hand at solo mining. Each cryptocurrency has many different pools available with their own benefits. Visit our Cryptopedia page for details.
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