Do you have a computer? Do you like having extra spending cash? This guide might be able to help you out.
By now, most of you have heard of the unbelievable price of crypto currencies such as Bitcoin (currently just over 3300$ CAD per coin). This price may scare off the majority of investors, however, what if I told you you could get involved, and make money, in Bitcoin with absolutely zero money up front. Mining crypto currencies is basically getting your PC to solve complicated math problems in exchange for money. Now I know not everyone is overly interested in math, but most computers are actually half decent at solving these problems. So if you are interested in how much money your computer could be making you, I have put together this easy to follow guide that will allow even the laziest can benefit from.
Step 1: Locate your computer.
Step 2: Make sure you have a Bitcoin wallet to deposit your earnings into.
If you do not have a Bitcoin wallet you can check out one of my earlier articles on getting started with crypto currencies at https://steemit.com/cryptocurrency/@kavemantech/getting-involved-with-crypto-currencies.
Follow the steps and set up and Exodus wallet before moving on to the next step.
Step 3: Visit https://www.nicehash.com/?p=nhmintro and download the mining application
This will download a ZIP file to your PC (your computer may try to block this download. Hackers often try to download these types of application on other peoples computers in order to use these machines to mine for crypto currencies in the background, and send the profits back to them...since we are purposely installing this software for our own profit you can feel safe dismissing the warning and downloading the file.) I realize this may seem sketchy to those of you who do not know/trust me personally, but if it makes any difference, I have been running this application part time for about 2 weeks now and have officially received my first payment of about 30$ USD from NiceHashMiner.
Step 4: Unzip (extract) the ZIP file on your PC .
Step 5: Open the folder and click the "NiceHashMiner.exe" the one with the yellow smiley face icon.
This will prompt you to agree to the terms and conditions much like ITunes. Once accepted, the application will run a system diagnostic test in order to determine what kind of hardware you are working with, as well as downloading some more mining software.
Step 7: Benchmark your computer.
On the right hand side of the application there is a button labeled "Benchmark" click this button. This may take awhile, so go grad a nice cold beer, sit back and wait for the results. The results will give you an estimate of how much money you will be able to make running NiceHashMiner 24/7.
Step 8: Make your decision.
If the results from the benchmark look good to you (I would say anything over 0.84 CAD per day is worth while here in Ontario), get your Bitcoin wallet address from your exodus wallet, and paste it into the Bitcoin address text field on the application. Now just sit back as the profit rolls in.
Step 9: Mine efficiently.
If you do not pay for electricity, disregard this step....However, if you are like me and the cost of electricity varies over the course of the day, try only mining during off-peak hours to maximize profit.
if you are having any basic issues with this guide, there is a great video walk through that can be found here:
I hope this guide was helpful to anyone looking to try mining for the first time!
If you have any questions, or if you completely disagree with the method I have posted above, be sure to leave a comment and let me know!
Anyone interested in more effective, yet less user friendly, methods of mining let me know!