Before we begin our Minergate review, let’s quickly provide a brief overview on what Crytpocurrency is. Cryptocurrency is a decentralized and encrypted digital currency transferred between peers, and confirmed on a public ledger, via a process known as mining. The popularity of cryptocurrency is on the rise, and so is its application! The future of currency seems to be in the form of cryptocurrency, and like every form of currency, it must be kept securely and safeguarded. Cryptocurrency is created through the process of mining. Cryptographic puzzles are solved in an attempt to win cryptocurrency. CPUs, GPUs, or dedicated mining rigs are used either in combination or independently to mine.
Users need to correctly solve an enormous number of computational problems to unravel a new batch of the prized asset. MinerGate is a reputable multipool destination that allows users to mine the most profitable cryptocurrency at the time. The “Start Smart Mining” option chooses the best cryptocurrency to mine in terms of profit. MinerGate can be used on the mobile phone of a user or on the desktop of a CPU. MinerGate has its own GUI miner to facilitate CryptoNote and Ethereum mining. MinerGate can run on multiple platforms. It can be used in a Windows, Ubuntu or Mac operating environment. The GUI interface of MinerGate is easy to use.
MinerGate Review of an Account Setup
Creating an account on MinerGate is simple. The entire process of downloading, configuration, and getting started takes around 15-20 minutes. For a user to begin mining on MinerGate, he/she must register. A user must authenticate his email address and create a secure password. Depending on the operating system of a user, the right version of the software is recommended for downloading purposes (for Linux, Windows or Mac platforms). Install the software and run it. Authenticate the email address and password initially used to create the account and start mining!
A significant advantage for cryptocurrency enthusiasts is the fact that it is the first pool which provides service for merged mining. This means that different cryptocurrencies can be mined simultaneously without a decrease in hash rate for the major coin. A few of the supported cryptocurrencies are Zcash, Bitcoin, Ethereum, and Litecoin. MinerGate allows users to easily mine by using CPUs, GPUs, a combination of both or a laptop. MinerGate has a 1.5% fee for PPS payments and a 1% fee for PPLNS. Bitcoin mining is allowed through cloud mining. Users are recommended to activate 2FA (2-factor authentication) to ensure the safety of funds. Activating 2FA ensures the safety of funds even if someone else knows the password linked to the account.
Minergate Review Of The Features
Different cryptocurrencies can be mined simultaneously without a decrease in hash rate for the major coin. MinerGate is multipool and has a “Smart Mining” option. It chooses the best cryptocurrency to mine in terms of profit and switches between coins automatically. 2FA ensures the safety of funds. MinerGate has its own GUI miner to facilitate CryptoNote and Ethereum mining. Bitcoin mining is allowed through cloud mining. MinerGate allows users to mine with either a CPU, GPU, or both. Users can also choose how many cores they want their CPU/GPU to use. This allows users to regulate the heat and electricity produced by hardware, allowing it to have a greater life-span. MinerGate has a fun and interactive reward system that will award users badges on the basis of accomplishments as a miner. Win all the badges to receive a prize. MinerGate features a profitability calculator on their site so users can determine their profit at any time. Users can calculate their hourly, daily or weekly profit potential through their profitability calculator. MinerGate need not be downloaded. Users can mine directly from the website.
Pros And Cons
Minergate Review Of The Pros
One of the biggest advantages for cryptocurrency enthusiasts is the fact that it is the first pool which provides service for merged mining. Different cryptocurrencies can be mined simultaneously without a decrease in hash rate for the major coin. 2FA ensures the safety of funds. MinerGate runs on multiple operating system platforms. MinerGate is secure. The GUI is good. MinerGate has its own GUI miner to facilitate CryptoNote and Ethereum mining. No complex verification process is needed to start using MinerGate. MinerGate can be used on the mobile phone of a user or on the desktop of a CPU.
Minergate Review of The Cons
The value of Alt coins is very low on MinerGate (excluding popular ones like ZCash or Ethereum). Hashing power is relatively low (only a few blocks per day to compute for a regular miner). The cloud mining operation for bitcoin mining is opaque. Most digital currencies have a minimum value to be able to be withdrawn. However, this minimum is very low and is easy to reach.
Different Wallets
In order to use any cryptocurrency, you will need to use a cryptocurrency wallet. It is a software that allows you to easily store and manage your private keys (secure digital code known only to you and your wallet) and public keys (a public digital code associated to a certain amount of currency). Wallets are secure and prevent theft of cryptocurrency. Hardware wallets are considered to be the best wallet type. More than 35% cryptocurrency users make use of hardware wallets. Hardware wallets are designed like USB devices and can be connected to any computer (Ledger Nano S and Trezor are popular). Ledger Nano S, Trezor, Exodus and Jaxx are a few of many good wallets a user can trust.
Given below is a link to a video which describes the process of installing and using MinerGate. We hope you’ve enjoyed our MinerGate review!
How to Install and Use MinerGate
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