How to mine cryptocurrency

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In this blog post I will explain how you can mine crypto currency on your PC. It’s a pretty easy process and you can try it at least once. This blog will also go through the process of withdrawing the funds directly to your bank account.

If you hate reading I have made a dedicated video on this topic : 

English Video :

 


Hindi Video :



Things you will need :

  • PC/Laptop (preferred with graphics card)

Services you will need:

  • Nice hash - to mine the crypto currency ( Link )
  • Coinbase - to transfer cryptocurrency ( Link )
  • WazirX - to convert crypto to Indian rupees ( Link )

If Coinbase lets you convert crypto to your currency you can skip the third service or you can use another service recommended for your country.

First you need to create a account on nice hash

After that login to panel and download the miner. We get two options for download. First is nicehash quickmine. Which is a basic etherium miner without a GUI specially for nvidia cards. Second one is for amd nvidia and intel graphics

To download the miner first you need to disable your antivirus or make a new folder and add it to exclusion from antivirus program

For NVIDIA cards

Download NiceHash quick miner, extract and execute it

You need to copy mining address from website and paste it in application

Soon after that mining will start

You can see the mining speed in mega hash per second and power consumption in wattage.

To increase efficiency and lower GPU temperature click on optimize button and select high

These options are only available for RTX cards and few GTX cards.

For AMD cards

Download and execute nice hash miner

After installation you need to login to you account from application and it will download additional files and miners

You can click on the play button and start mining using CPU and GPU or go to setting turn off CPU and select a crypto mining algorithm of your choice and click play on start screen

Payment

Nicehash to coinbase 

Minimum payment for nice hash is fifty thousand satoshis for Coinbase. And hundred thousand satoshis for direct wallet payment.

Once your mining profit goes above fifty thousand satoshis you can create a coinbase account and link it to nicehash

To connect coinbase to nicehash, Click on profile goto security and turn on 2 factor authentication

Click on wallet on top right and then select withdraw. Select coinbase Follow the procedure and give access to your account. Coinbase is now linked to your account

Now again go to wallet section select withdraw. Select coinbase and Click on withdraw. Funds will be transferred after an hour

Coinbase to trading service

Now go to coinbase. Click on send receive on right top corner. Click on send all.

Now goto WazirX or any other trading service

Get the wallet ID for bitcoin by logging in to WazirX account. Then goto funds. Search for bitcoin. On bitcoin select deposit and copy the address and paste the address on coinbase then continue.

Verify the information and select send now. Enter the OTP and within few minutes funds will be transferred to WazirX.

WazirX to bank 

Once your funds are on WazirX you can keep it as it is and trade when price is high, or you can trade it for Indian rupees and send it to bank, or you can purchase different cryptocurrencies

This is how we can mine cryptocurrency on PC or laptop

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