Cryotocoin mining for the rest of us!

So you have a basic computer with a simple video card and you want to get into this "mining" thing?

When I restarted (yep I had 11 Bitcoin but back a few years ago I didn't think it was going anywhere and I've since lost the recovery info) a few months ago, Bitcoin required a massive setup to mine. So what were my options?

The first option was to "buy" hashing power from an online miner so I didn't have to use my own machine and the second was to find a fairly easy coin to mine and figure out how to exchange it for coins I wanted.

I did both.

Online Mining (hosted mining):

For the online mining I used genesis-mining.com and bought 1mh of Ethereum...at the time it was $30 us. You have to watch the site to see when the deals are available. You pay only once and you get that hashing power for 2 years. Works out to doubling your money...not bad for 2 years. If you have more $$ to invest then go for it. I get the coin deposited to my online account on Tradesatoshi.com and then exchange half of it each month for other coins (Potcoin (POT) and B3Coin (XB3) then I take the other half and move it to my Cryptonator.com account and buy Ripple...that is until Tradesatoshi offers Ripple and then I can trade in one place). Once I have the coins I deposit them to my local wallets..I suggest you never leave your currency in an online wallet...install the wallets locally and back them up. In my next posting I will provide the links for the wallets of the currencies I mine.

Mining with my computer:

I mine both Monero and Bytecoin. Bytecoin is by far the easiest coin to mine and with the right "mining pool" you get a reasonable payout you can then trade a portion for other coins you want. I use the xmrig miner which I downloaded directly from the developers repository at https://github.com/xmrig . I will post how to configure it in a future post as well. The pools I use to mine are here: Bytecoin: https://www.bytecoin.party/ Monero: https://supportxmr.com/ The resulting coin goes directly to your wallet so no middleperson in the mix.