It seems that these days everyone wants to know how to make money with crypto mining.
In this article, we will show you step-by-step where to start and how to make money with Crypto mining, specifically how to mine and profit from the opportunity provided by EOT – Encryption of Things.
This is the first and most important step before you can start making money with crypto mining, you need to understand what you mine, why you are mining it and what the long-term prospects of the cryptocurrency you are mining are.
We believe in the long-term prospects of EOT and would definitely recommend that you mine EOT because of the exceptional long-term business case.
Step 1 – Educate yourself about EOT
Step 2 – Download a wallet
You need an EOT wallet to store your EOT and also to transfer your coins and to receive your mining reward.
Step 3 – Purchase mining equipment
EOT runs what is called the “Scrypt” – algorithm which means you will need to purchase mining hardware that are set up for this.
Step 4 – Join a mining pool
Unless you are running a very large operation, we advise that you join a mining pool. A mining pool is a group of miners that work together and collective mine blocks and share the reward. It is very hard for an individual miner to compete with a successful pool.
Here are 2 more ways to mine EOT
1. Renting a miner
If you don’t have a mining rig of your own you can rent one, this is a very good way for the beginner to get started and to learn more without spending a fortune.
A good company to use is Mining Rig Rentals, they are an established company running for a number of years and very easy to use.
To mine EOT, you need to rent and Scrypt miner as EOT runs on the Scrypt algorithm.
The first step is to fund your account with Bitcoin, Ethereum, Litecoin or Dash and then rent a rig from the Rigs tab.
Once you have rented the rig, your next step is to connect to the EOT Mining Pool.
You will need the following settings:
User: – This will be your EOT Wallet Address – If you do not have one, you can get one here: – EOTWallet.com
Voila! – and you should be connected.
2. How to mine with a Desktop Wallet
You can also mine with the EOT Desktop Wallet
- Please note that you will mine a very low amount with this method as it uses the hashing power of your PC or Mac and these are not really that powerful for mining
Step 1 – Download the EOT Desktop Wallet from Github and Sync with the Blockchain
Step 2 – Set up mining
- Open Wallet.
- Choose Help.
- Select Debug window.
- Select Console.
- Type “setgenerate true -1” to use all processing cores.
Note: If you want to use 2 / 4/ 6 cores then use “setgenerate true 4” command to use 4 cores (change the number if u need to)
If you want end mining type “setgenerate true 0”.
Next step: Now you have to check if your client is mining or not, just type “getmininginfo” command in that same window, you should start to see your hashespersec reported as following:
“blocks” : 7750,
“currentblocksize” : 1000,
“currentblocktx” : 0,
“difficulty” : 0.00955156,
“errors” : “”,
“generate” : true,
“genproclimit” : -1,
“hashespersec” : 573,
“networkhashps” : 7380675,
“pooledtx” : 0,
“testnet” : false
Now you should start to see your hashespersec reported, if hashespersec is not zero, you’re doing it right.
You can also check some other stats with following commands.
Step 5 – Switch on and start mining!
Now it is time to switch on your miner and start making profits… Good luck and Happy EOT Mining
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