Many of you might already know what is cryptocurrency mining, another important thing that is also familiar with is that it’s an extremely complex undertaking. Let’s shorten the basic definition of it, cryptocurrency mining done by expert miners whose responsibility is to acquire cryptos by utilizing the complex computers. This is not the end of the introduction, there are lots of facts that you should know about it. According to miners, getting kryptos by solving the complex computer equations related to cryptos mining takes most expensive computer hardware along with personnel and several other operational costs. They already have top computers and other essential equipment for that but still they lack in gaining crypto if there is absence of enough resources.
The topic of this article is not just cryptocurrency mining, there are more things in which Minergate is the focus of my intention that I’m going to explain to all of you in detail.
It’s obvious that the cost of gaining even a single coin is quite unbearable but off course we wanted to achieve that most successful invention so the advancements came into it. The main thing that appeared as the most expensive resource while extracting cryptos was the electricity bills that several miners hit to the 1000s even when a single coin was not extracted. Today, those huge expenses shortened because small miners started their groups to lessen the expenses of cryptocurrency mining and to increase the number of resources. It is one such group that absolutely needs to discuss in this article. You will know lots of details about Minergate including its issues and benefits; what exactly minergate is? is it legit or not? What’s it cloud mining work? etc.
MinerGate Legit Crypto Mining Review
Before digging into the full details of MinerGate let me give me a brief summary that will increase your interest to read the further article and you can know what information you’re going to get in the left of the article. This knowledge of it includes the following:
1. What is MinerGate
2. Is it a scam or legit?
3. What is Cloud mining work and why is it related to MinerGate?
4. Is MinerGate fully secure?
5. What people exactly want to know about MinerGate?
and many other interesting features of Minergate.
What is MinerGate?
Let’s start with the actual definition of MinerGate. It’s a mining program that can download and run without any specific machine requirements. In other words, it’s like a cryptocurrency mining platform and the history, was started in 2014. The purpose of its invention was actually to group the miners and perform more efficient and speedy mining together with reliable costs.
This mining program can be downloaded and run by all the users who want to mine different kinds of coins such as Ethereum, Litecoin, Bitcoin, Monero and several other coins. Users can easily download and use this program to mine their desired coins from Laptop or PC.
The logic that has been used behind MinerGate is quite complex and has been developed through complicated algorithms and in the aspect of profitability, its highly advised to use mining software that’s dedicated for the specific mining coin.
To get more earnings along with more mining you absolutely need a powerful machine, because a weaker machine can’t lift the load of mining and you will gain less advantage from that.
A great thing about MinerGate is that there is a mobile application available that assists you to manage your mining processes remotely. It updates you through the push notifications and you can know everything about your mining process including your balances. You can also monitor all of your devices through this mobile app.
As said earlier, MinerGate is based on highly complex algorithms so even a powerful hardware can be exploited in just a few clicks. Also, you can’t mine cryptocurrencies by using a mobile phone and it’s not possible to use its mobile application on your cell to mine the coins.
Interesting things of MinerGate
Here, I tell you a few very interesting things that you will love to know.
- When you’re busy or don’t want to work, you can put your computer to work for you that time but it’s obvious that it will cost your too much electricity cost and sometimes you don’t earn enough money to afford your electricity bill.
- Another amazing fact of MinerGate is that as much hashing power you commit, it rewards you for that. To achieve this target you can use your device while you sleep by keeping the expenses of electricity power in your mind.
- It is quite different from several other mining pools available in the market. Those can mine only one cryptocurrency and a great knowledge is required to run them. The amazing thing about it is that it can mine multiple currencies. You can get maximum profit by working from both the CPU as well as the GPU. Like you can mine Monero and Ethereum simultaneously.
Is MinerGateScam or Legit?
It’s one of the most asked questions about MinerGate and every new user really wants to know is it legal or a scam?
MinerGate has been there for several years and different people rated it differently. You can’t consider it a reliable source of income. Some companies don’t get proper reputation and it becomes the reason that their mining services are not so famous. Some customers commented on MinerGate as a satisfactory source of mining cryptocurrencies while some criticized it in different terms.
Most common complaints that mostly get by users are like: people didn’t get the rewards, some claimed that the ownership of their source remains unknown, according to some other users, their hashing powers was wrongly rated.
In short, we can say that, you can use it at your own risk because according to all users, their experience was above average.
What is MinerGate Cloud Mining?
A very important question must be absolutely coming to your mind: how actually mining works and what sort of MinerGate cloud mining does? So let’s answer your confusing question.
This platform utilizes several computers that work like a pool and every user works on his system. Mining handles under a network where users can mine their cryptos.
There are several characteristics of mining that are very important to know.
Smart and Merged Mining
Before reading about merged mining, let me highlight a brief history of Mining. In the past to mine the cryptocurrency a single computer was able to mine only one cryptocurrency at a time. It was not easy to mine that time and lots of other complications also started because by the time, demands and needs of users increased and there were not enough resources and techniques that could satisfy the exact requirements of miners.
As MinerGate came, things got changed and mining became quite easy and efficient. The major benefit that is achieved after the birth of the MinerGate is that it provides merged mining that enables users to mine two cryptos per user and it also doesn’t affect the quality and production rates.
The discussion above was about merged mining, Now, let’s talk about what smart mining is? Smart is a short word that covers major aspects of something. Smart mining includes plenty of things such as mining without compromising the quality, considering maximum profit and less cost.
Another thing that comes in smart mining is that the system by itself uses the effective and complicated algorithms to pick the coins that the user needs to mine. It eases the user and leads him to the right direction. It doesn’t mean that there is no option for users to pick the coin of their choice. Smart mining is a feature that minimizes the confusion and effort of users so he can just enjoy the mining process without thinking too much. Along with this amazing technique, another wonderful and plain option is still there for users and that’s manual selection. Users can simply turn off the smart mining feature and can select their coin manually. Both options along with several other mind blowing options are present to increase the interest of users and make the mining process more enjoyable and beneficial for every user.
Web Mining & Mining Calculator
Like many other great features and options, another amazing thing about mining is that the user is not restricted to download the GUI user interface. He can simply use it online that’s called web mining.
Mining calculator is a really wonderful invention in mining it assists you wonderfully and reduces your lots of tensions regarding this platform. A mining calculator is a great tool that you can use to see the life and status of your coin. You can evaluate each and everything of your certain coin and it includes transaction amount, bad shares, pool fee, network problems and many more things. It presents you a big picture of your certain mine
After reading lots of things about MinerGate, you must be waiting to know the charges. Let’s shed some light on this question now.
We’re not providing you a complete schedule of MinerGate fee because its not the topic of this article, but brief knowledge about its charges can help you to start it. The dues depend on your subscription fee and its charge in terms of GH/S. Plus users who want to mine cryptos such as Bitcoin need to rent hashing power from MinerGate. In the comparison of some competitors fee of 1% for (PPNS) which is the short form of Pay Per Last N Shares and 1.5 % for (PPS) short for Pay Per Share is required for all Altcoins.
In this platform, a linear function of the hash power is used to evaluate the mining fee. Here is its process:
20 GH/S BTC
100 GH/S BTC
500 GH/S BTC
How to Start using MinerGate?
Let’s move to the most important and most interesting topic of this article that is about how to use MinerGate? We tell you all the steps that you need to follow to start mining your first crypto today and the best thing about that is it’s extremely easy and you even don’t need to do so much effort for it.
In the very first step, just like many other software, you simply need to create your account and by signing up you can jump into the world of cryptocurrencies. Creating an account doesn’t require lots of verification and submission forms. It’s more than simple that you think.
Step-2: Download & Install the MinerGate Software
When the website detects your operating system, you can download the software and then install it as simple as several other programs.
Step-3: Select Benchmark Feature
By selecting the Benchmark feature, you can acknowledge what you can achieve on the basis of your software. This is a great feature that tells you extremely important things that you really need to know.
Step-3: Choose Smart Mining or Manual Mining
You have two options, either you want to manually select cryptocurrency or you want to use the Smart Mining feature to avail most profit.
MinerGate & Types of Cryptocurrencies
There are several cryptocurrencies that you can mine by the MinerGate and these are listed below:
- Bitcoin Gold
- Ethereum Classic
An important note that’s worth to know is that on 3rd April 2019, MinerGate’s Bitcoin mining pool was closed, so for Bitcoin mining, you can’t use MinerGate now.
Is MinerGate fully secure?
Our next discussion is about the security of MinerGate which is really important to understand. Without understanding the appropriate information about the safety of MinerGate, you can never compromise on it because everybody wants to be assured before providing their data as well as their mined assets.
As MinerGate is also concerned about the security of users so they produced some control features to satisfy their users who want to use MinerGate to mine their cryptocurrencies.
The below list tells you about all those security features that you’re finding for:
- Authentication is two-factor based that is developed to ensure users that they will authorize every transaction that they make on their account.
- To fix the bugs and to improve the performance by adding the latest technical developments the platform updates itself on a regular basis.
- The website on which the platform depends authorizes a valid SSL certificate to protect users and their data from attackers and also to prevent from disclosing communication that takes place on the tool.
What people exactly want to know about MinerGate?
Before heading towards the conclusion of this article, let me tell you what people really want to know about it? We answered almost all the questions that you wanted to know including the worth of it, how can it give you maximum benefits? Is it safe or it can harm you and wastes your assets? Is it easy to use? Who can use it and who can’t? What hardware we needed to start mining with MinerGate? Can we think Mining by using bitcoin mining company, as our complete source of income?
I hope you got all the answers to these questions. Everything we read about MinerGate review and it’s quite obvious now that you can start using it without any hesitation now.
Let’s conclude the discussion and cover all the major information in a short summary that we read in this article. MinerGate is a mining program that is specifically designed to make mining more efficient and inexpensive than ever before. It provides you multiple functionalities including Merged mining, Smart mining as well as Web mining. A mining calculator is such a wonderful tool that tells you every detail of your crypto such as transaction amount, pool fee, network problems and bad shares etc. A complex algorithm is running behind the MinerGate to give you a user friendly interface and profitable mining facilities. MinerGate’s charges are based on a subscription fee.
People can confidently mine cryptos by selecting the Smart mining option or they have another option that helps them to select their own coin with the manual selection. A number of control features available that assure users about the security of their mining assets and their data. The procedure of using MinerGate is super easy and simple and users don’t need to follow complex instructions. By signing up, downloading and installing it’s software, you can jump into the world of cryptocurrencies and can mine a variety of cryptocurrencies such as Bitcoin Gold, Ethereum, Litecoin, Grin, Monero, Ethereum Classic, Tron, ICON and EOS etc. There is a Benchmark feature available in this, that gives you information about what you can achieve on the basis on what device you have. This article covered major things of the review of MinerGate but you can explore more about it on the internet because there are several other things that you will enjoy knowing about it.