If you are looking forward to Bitcoin gold mining then this article is the right place you have visited. Bitcoin mining has reached a whole new level in this modern day and age. However, Bitcoin gold is particularly designed for GPU mining.
Solo or pool mining?
When mining, you have to decide whether you want to mine alone or in a pool. Mining solo means you have to do all the work alone and you will be required of computers with high specifications. In pool mining, you will mine a block in a group.
Pool mining is simpler as compared to solo mining since the combined hash rate of pool solves the block. However, the profits are distributed according to each miner’s contribution.
There are few things needed when you begin with Bitcoin gold mining. Here is a list:
- A computer which will be used to mine.
- Wallet to send and store coins.
- A mining software.
- An account on exchange to trade coins.
Here is the hardware needed for Bitcoin gold mining:
- A fast processor is required in order to effectively mine Bitcoin gold.
- A motherboard with multiple slots for graphic card is required.
- A 4GB RAM is sufficient to mine Bitcoin gold.
- Good storage capacity is needed to accommodate the mining software and other relevant applications.
- A power supply is needed to power all the components.
- A case is required that can support more than 3-4 graphic cards. Since not all cases are able to accommodate it, many miners choose to build their own cases.
There is a variety of companies in the market that manufacture graphic cards. It is imperative to choose the best graphic cards in order to make the mining process more profitable. GTX 970 and GTX 1060 are two examples of powerful graphic cards that can help to achieve profitable mining results.
It is important to know whether all the parts will work together with each other. Make sure all the elements are compatible together. Make sure the power consumed by each graphics card is calculated and then backed up by an appropriate power supply. Also, check the connectors that come with the power supply.
When it comes to technical requirements, it is possible to mine Bitcoin gold just using your processor but it wouldn’t even give you mediocre mining rewards. It makes the mining process very inefficient and impractical. This is why it is recommended to have a dedicated graphics card.
The right software is needed to mine Bitcoin gold. Here is a list of miners compatible with Bitcoin gold:
- EWBF miner
- Claymore’s AMD miner
Also make sure you install the right wallets. Three wallets that support Bitcoin gold are:
- Guarda wallet
- Free wallet
This was the complete guide to mine Bitcoin gold. Given more and more people are considering to mine cryptocurrencies, the demand for software and hardware is increasing. Consider this guide in order to ease the complete process of Bitcoin gold mining.