If you are new at Mining this video will give you some help choosing a coin and help you to get started in the world of Crypto coin.
I get allot of people on the 123myit YouTube channel asking me about what coins are good coins to mine. Really you should always do your own research and make up your own mind on what coin is right for you. But in this video I go through a few tips to help people gain some knowledge about the coins and hopefully make some great investment choices.
This video assumes you have built a mining rig and you are ready to start mining coins for a profit.
I personally use the website www.cryptocompare.com for allot of my information about the Crypto Coin. And this website is a really good place to start getting familiar with Crypto coins.
I started out mining Bitcoin via Nicehash miner but more recently I have switches from Nicehash to mining Ethereum via a pool called Nanopool. Check out the Nanopool and claymore miner setup video here.
I also talk about Electroneum (ETN) coin, which will be available to mine on Android phone.
This coin has been as cheap as 3 cents USD!!! This coin is a bargin in my mind if the developers can get it working it will be very interesting and I think well worth at least a small amount of investing at the very least install the app and setup the wallet and get it ready for when you can start mining Electroneum ETN with your android phone. You can also earn free coins or refer friends through the Earn FREE coins menu inside the Electroneum ETN wallet. If you want to refer me my code is C2C4DD shameless plug 🙂 Thanks for your support.
Hopefully trying to get as many videos up as I can I have loads to show you guys but its just getting the time and effort to make these things happen.
For those of you that aren’t familiar with Nicehash, Nicehash was a platform whereby miners could sell the hashing power in exchange for bitcoin so it was a pretty good way, reliable way, nice and easy way for people to get started. What you needed to do was download the Nicehash mining software put in your wallet address and you can start mining straight away.
I did a video recently where I build my first mining rig and you’ll see that i’ve got a video called first mining rig build.
In this video I show you how to build a mining rig and then later i’ll show you an update of that mining rig. So what was I mining at the time when I first started I was mining Nicehash with bitcoin and probably making about $300 worth of bitcoin.
Since then I wanted to change from Nicehash across to Claymore dual miner which allows you to mine both Ethereum and another coin like Decred for example so I started doing that for one month. I was about to change back to Nicehash and start using Nicehash again as the coin seemed to be getting more and more profitable. Bitcoin just seem to be going up and up so it seemed like a sensible thing to actually go back to and to try and get as much Bitcoin as I could get.
However when I went to try and start up the Nicehash miner you can see that it’s a just times out with a Nicehash sma information message.
Its really sad for the community really sad for the time and effort into in a building this business up and running it I just think a lot of people are going to miss out because of the demise of Nicehash I mean who knows they might be able to resurrect themselves, maybe not?