Get a Passive Income by Mining Ethereum Using NiceHash
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Assalam-o-Alaikum Steemians !
I'm @moneyster, a professional level Cryptocurrency investor and an analyser. As usual, today I thought to share another Crypto-related experience with you. I hope this article will be considerably beneficial for all the Steemians in this community
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Cryptocurrency mining is a popular thing with a lot of Crypto fans as we can gain higher rewards by sacrificing our computing power. There are a lot of Crypto mining methods such as Bitcoin Mining, Lite coin mining and Ethereum mining. Here the Ethereum mining is very important as we can use our GPU power to mine Ethereum with a relatively low Hash rate.
It means that we can use our considerably high power GPU to mine Etherium by using some popular mining pools and applications. Simply. if we have a powerful Graphic card such as Nvidia RTX 3080 or 3080 TI, we have a higher possibility to get better rewards with a relatively low consuming power.
So, we don't need to install separate high power-consuming mining rigs to accomplish this process. It is also possible to use our high power gaming laptop to accomplish this GPU mining process. However, we have to use the Turbo Boost technology of our laptop to gain the maximum power of its GPU. At the same time, we should keep that laptop in a very safe and cooling condition.
As I described above, here we need to focus only on the GPU card. So, the power of the system is not mandatory to increase the mining rate. If we need, we have the ability to calculate its Profitability using the Nicehash Profitability Calculator.
Below I have taken a screenshot taken from the Nicehash official platform. Here I have clearly used its Profitability calculator to calculate my income according to the selected Graphic Card.
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After selecting a relevant Graphic card, here we have the ability to see our daily income approximately. This amount can be volatile due to the adjustment of the entire Crypto Market value.
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Ethereum mining is relatively beneficial as compared to Bitcoin mining due to its low consuming power. So, even a professional game player can mine Ethereum by using his gaming PC. Because, this Ethereum mining is a quiet GPU mining process and if we have a suitable graphic card on our laptop or desktop, we have the ability to mine Etherium very easily.
We can use this Ethereum mining process as a passive income for accomplishing daily activities. So, the mining process is not complex as the traditional mining rigs. At the same time, the power-consuming is very low as compared to other mining methods.
First of all, we need a suitable GPU (Graphic Card) to create this mining process. To calculate the income according to the budget of that GPU, we can use the Nicehash Profitability Calculator.
Then, we have to install a suitable Mining Application according to our choice. However, here I will recommend the NiceHash application as it provides a lot of mining pools integrated with their application.
After that, we have to set up an account on this nicehash official platform. To do that, we can click on "Get Start" icon from the right side of the main window.
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Finally, we can download the Miner application and run the mining process. Then it will start the mining process by validating Transactions through the relevant GPU based mining pools.
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I have studied the below-sourced articles to further study these topics and I have explained all the above facts in my own words and experience.
10% benificiary set for @tron-fan-club
Twitter Shared
https://twitter.com/moneyster12/status/1520821093363298307?s=20&t=iZ4Yvq_HxVEnO6BJgJT4oA
Wow, this looks really amazing, but is it expensive to withdraw from there because this is a coin which of course has a very extraordinary fee
There is a method to get withdrawal from BTC. If you are mining for ETH, we can still get withdrawals through a Btc payment.
How many times have you made a withdrawal there, because I tried several websites but it didn't work
In fact, I just started working on this. So, I didn't get any payout yet. But I hope it will work well. I will let you know as soon as I got the payment.
Thank you for responding I will be waiting for the good news and if it can be cashed me you will too.
Your post is always very informative. Keep it up brother.
Thank you very much for visiting my article brother. Yeah, I always try to deliver something better through my own experience.
I really liked your post. Because you gave me an idea about Etherium Mining. In fact, I had no idea about this. Thanks for sharing a post like this.
Thank you very much for visiting my article. Actually, I'm still trying to work with this strategy. I hope it will work well.
Mining process is not so difficult but we need to have the basic Idea on mining and the basic setup of the hardware. It's pretty wonderful to get idea from you through your step by step sharing the post.
Thank you very much for visiting my article. Yeah, I agree with your point. It really not too difficult. If we have sufficient hardware performance, we can easily start it.