How to mine Ethereum?
In this start mining guide, you will learn about Ethereum and how to mine this cryptocurrency on Cruxpool.
Blockchain and mining
If you’re here, you probably know what the blockchain is all about. But just in case, you can watch these videos to get a general idea of how it works. What you need to understand is that Cruxpool is supporting the blockchain by gathering computing power that will validate the transactions happening on the blockchain, In order to encapsulate them into blocks.
This is where you play your part, by putting in common with other miners your hashrate i.e. your computing power.
Why should you choose Cruxpool?
FPPS or Full Pay Per Share means both base block reward and transaction fees in the block are paid under PPS reward scheme. PPS or Pay Per Share method means that the miner is paid for each share he brings to the mining pool.
0.01 ETH PAYOUT THRESHOLD WITH LAYER 1 AND LAYER 2
A very low payout threshold means that you do not have to mine multiple blocks in order to get your payment. This participates in better stability of your revenue!
TRANSACTION FEES ARE PAID BY THE MINING POOL WITH LAYER 2
For Ethereum Layer 2, we pay transaction fees.
However, if you choose Ethereum Layer 1, you will have to pay transaction fees.
Track all the data you need, in order to be informed on your mining activity, get a comprehensive view of your estimated and expected revenues, and also check the performance of your hardware.
Our team is dedicated to your satisfaction and remains available for any questions. If you need support, we’ll be there for you!
Why and how to mine Ethereum?
When you mine a block, you become part of the blockchain process of verification of transactions, and you have a role in the creation of the new blocks. When a block is found there will be retribution for your efforts.
This reward consists of a fraction of cryptocurrencies, which depends on many factors but once the job is done those cryptos will go to your wallet, and you can exchange them right away, let them take some value for future trading purposes, buy the cool stuff you want, etc. You can then create a form of semi-passive income!
Before we give you the instruction to connect on our pool, it is essential to share with us basic knowledge about mining Ethereum.
To secure the network, Ethereum uses the Proof-of-Work system, and it is, of course, miners who supported the blockchain. Ethereum uses Ethash mining algorithm. You will be able to mine this cryptocurrency only if you have a minimum 6Gb VRAM graphic card.
This is a mining RIG that can mine Ethereum.
In order to receive rewards from your mining, you need to create/have an Ethereum wallet. Thanks to this, you will get an address where the pool can send you payouts that will be written in the Ethereum Blockchain. There are several sorts of wallets, hot, hardware and wallets from exchanges.
You can also use hardware wallets like Ledger or Trezor and also wallets from exchanges. Exchanges are places to convert your cryptocurrencies into fiat currencies as Dollar $ or Euro €. You can use Binance or Coinbase exchanges, there are the most popular exchanges now. But there are other exchanges that you can pick like Bitstamp, Kucoin, Kraken, Crypto.com.
Ethereum mining on Cruxpool
We use a 1% FPPS scheme on our Ethereum pool. Transactions run once a day between 10:30 and 12:00. The minimum threshold is 0.01 with Layer 2.
Start mining ETH on Cruxpool
To connect your workers to our Ethereum mining pool, you have to put your address if you mine anonymously or if you use a Cruxpool account on your Ethereum mining software. A mining software, in order to tell your mining rig what they have to do, and where they
There are several mining softwares for Ethereum mining. Here is a list of software that you can use for mining this cryptocurrency. All these softwares have tutorials on Cruxpool.
Mining softwares like T-Rex is recommended for NVIDIA cards because the software is entirely dedicated to NVIDIA GPU mining. On the other hand, TeamRedMiner is exclusive and optimized for AMD cards. Other softwares can be used on both NVIDIA and AMD cards.
Remember to use a recent version of the mining software. More recent is the software, better is your mining experience (more stability, performance, etc.)
Mining Ethereum on Cruxpool using NiceHash
After registering or logging into your NiceHash account, click on Hashrate Power Marketplace and then on My Pools. Once on the page, click on Add new pool. To set up Cruxpool mining pool on NiceHash, you must fill the following fields in the New pool display.
Custom pool name : Cruxpool Ethereum
Algorithm : Dagger-Hashimoto
Stratum Hostname or IP : eth.cruxpool.com
Port : 25555
Username : Your wallet address or your username
Password : x