Frequently Asked Questions

Is mining profitable and if so how profitable?

The short answer is: no-one knows.

The long answer is that you can make an educated guess using various tools such as WhatToMine. Electricity and hardware cost can be estimated with reasonable certainty, but two large unknown factors are: mining difficulty and cryptocurrency price. Mining difficulty for a cryptocurrency goes up and down along with the total hashrate aimed at mining it, cryptocurrency price goes up and down with supply and demand.

Why does pool location matter?

When mining (as opposed to staking) the closer the pool is to your mining equipment, the lower the latency (sometimes called ping) is going to be. A high latency between you and the mining pool can negatively impact your mining income

What do I need to start mining?

Mining can be done with various types of equipment, what is most effective at mining depends on which cryptocurrency you want ot mine. Bitcoin for example is most effectively mined with a piece of hardware called an ASIC (Application Specific Integrated Circuit), which is a shoebox sized piece of equipment that uses a lot of power, is very loud and generates a lot of heat - generally not something you want running near humans 24/7.

Monero on the other hand can be mined with both a CPU (Central Processing Unit; your PC has one of these) and a suitable GPU (Graphics Processing Unit; if you have a gaming PC you probably have one).

If you just want to try out mining software, to see what all the fuss is about, something like NiceHash makes it very simple to get started earning Bitcoin using a normal PC running Windows.

Remember to only install and run mining software on equipment where you have permission to do so!

There is a pool missing, how do I add it?

Fill out the form on the suggest pool site and it will be added as soon as possible.

I have a question that is not here!

Feel free to reach out to me on twitter and I will do my best to answer.