Mining Bitcoins using MinerGate is probably the easiest way to mine at home. It does not require special equipment or high computer skills, and it is also a fun experiment. It simply requires installing a program and pressing the “Start” button.
The best CryptoNotes to mine are those that give you the highest profit in shortest terms, the most stable and those that give us the confidence to continue using them. MinerGate provides the miners that are still in search for their favorite mineable crypto with a handy profit calculator which is based on the following formula:
Reward = ((hashrate * block_reward) / current_difficulty) * (1 – pool_fee) * 3600
The four main CryptoNight / CryptoNote currencies available in MinerGate are:
Monero’s high level of security and privacy has made it well known in the market. In addition, it is based on open source, which makes it accessible to everyone. Not to mention that the ASICs for this cryptocurrency have not affected the network as much as predicted.
The first step to start mining is to have a compatible wallet. The most recommended option is the official GUI version that is offered on its own website.
Then you must acquire a mining software specific to the cryptocurrency, such as multiminer or GUI miner, although there are also other alternatives.
Once having the wallet available and having installed the mining software, it will use the processing power of the CPU to perform the mining process.
The use of graphics cards also helps accelerate mining with the increase in processing power. It’s up to you which GPU brand to choose.
Bytecoin (BCN) is an alternative cryptocurrency launched in 2012 that uses the unique CryptoNight algorithm based on CryptoNote technology. Bytecoin is an open decentralized cryptocurrency, which means that any interested person can join the Bytecoin network and participate in the development of the currency.
Bytecoin allows secure and instant transactions around the world without charges. This is possible due to the processing of transactions carried out by network users who are rewarded by the network itself. During the processing of transactions, users do not have access to information regarding the sender, receiver or the amount of money transferred.
Like Monero, Bytecoin uses the CryptoNight algorithm, which is designed to make the CPU and GPU mining approximately equally efficient. Moreover, Bytecoin will support ASIC mining, at least until the end of 2018 for obvious reasons: it protects the network from attacks.
Bytecoin is the currency that experts recommend for beginners since it is efficient to mine, immediate in transactions, and you can even buy them on eBay.
AEON is a coin that you have to pay attention for its low network difficulty. Beginners like it because they can see significant mining results even with not that high hashrates.
AEON in 2015 was based on the concept that anyone with a simple CPU could mine under the PoW algorithm: CryptoNight-Lite, which allows all people everywhere to be free to send and receive money with almost any gadget they already own.
At the same time, it handles a verification speed ten times faster than Bitcoin which makes it have a lower cost in its additional transactions although its payments remain anonymous and totally private. As all blockchains, its code allows us to see easily and simply the transactions that are made.
Monero Original (XMO)
Monero is a private currency with a large pool of followers since its inception and tends to be the most loved Cryptonote in the market.
The chain appeared on April 6, as an answer from the Monero team on new ASICs, which could centralize the coin with gaining a significant majority of the network hashrate.
You can mine XMO with MinerGate from your GUI or CMD miner to take advantage of its boom from the start. It is the fourth currency with the best mining performance in MinerGate.
Being the younger brother of Monero, XMO has all its advantages but got several differences. For example, as opposed to XMR, XMO got a limited amount of coins – 18.4 million, the difficulty of the network is recounting every 720 blocks and it’s more secure and confidential because of increased ring signature size from 5 to 7.
“Keep mining for a long-time and invest to ensure a prosperous future.”