How to Mine Monero

Monero is one of the most popular privacy based cryptocurrencies, second only to Verge (at the time of writing) which has recently partnered with one of the world's biggest adult entertainment websites. Monero is a secure and private cryptocurrency token that uses a unique style of cryptography to ensure that 100% of its transactions are completely anonymous. The transactions that perform are under the users control, and Monero gives you the control and responsibility of your own cash.

Monero is a mineable cryptocurrency, but not many people know how to successfully mine the virtual coin, so in this article, I will be going over how to mine Monero successfully. Mining can be achieved by virtually anyone, however due to the sheer popularity and scale of mining operations these days it can only be done by people who have the specialized equipment, which is why it is not always a good idea to go about the mining process yourself. Mining operations have become huge business in the cryptocurrency space and it can end up being a waste of time and money, as there are people and companies with much bigger pockets than you who can afford better hardware.

Thankfully there are alternatives, but for those of you who have a large budget and wish to go at it alone, then solo mining is, of course, your choice. Solo mining involves the purchase of specialized equipment that involves:

● Power Supply Unit - This is what is going to be supplying the power to your mining rig. Now the most important thing to consider when purchasing your power unit is to get the right one. This might sound obvious, but people have been known to be quite stringent and sacrifice on quality for a cheaper price, but in the long run it can jeopardize the entire operation.

● Graphics Card - This might be the single most important component that goes with your mining rig. The graphics card is what is going to be doing the hard work for you and solve the complex computational equations. Some of the best dedicated graphics cards for mining include: XFX Radeon RX 580 GTS, Sapphire Radeon Rx 570 Nitro, PowerColor AMD Radeon Rx 580.

● Motherboard - The motherboard is a crucial component of a successful mining rig, and the best motherboards have multiple PCI slots so you have connect as many graphics cards as possible. The more graphics cards you have the more work they can carry out.

Once you have all your hardware components and have set them all up in the right way, they next step is download the relevant mining software. A quick search for "Monero mining software" will bring up quite a few reliable sources from where you can download the software from. Once you have downloaded the mining software the next stage is to install it and get it running on your system.

Depending what hardware you have got, there might be some mining software that works best with some, but not with others which is why for this article we have gone with general mining software. MinerGate which also has its own built in wallet so users can safely store their mined cryptocurrencies, but first you will need to make an account on minergate.com. Once you have made an account and downloaded the minergate software and installed it, it will detect what operating system you have and give you the required version.

Once the installation process has completed, the option for you to start mining will be displayed. MinerGate will automatically detect the equipment you have, and will select the most profitable cryptocurrency to mine in accordance to your hardware. However you can change which cryptocurrency you can mine, and in this case the option would be to mine Monero.

That is the basics of how to mine monero. Obviously there is a little more to it but this will get you started on the right path if you are looking into the options of mining Monero and aren't sure how to do it.