Which Ethereum Mining Software should you choose? Follow this Ethereum mining software guide & find the best mining software options for you.
In a world where cryptocurrencies continue to grow in popularity and recognition, it is only natural that people try to find various ways to profit from them, one of which is cryptocurrency mining.
Crypto mining is the process of obtaining cryptocurrency with the help of various tools. Today we will discuss one of these mining methods and try to uncover the best Ethereum mining software out there.
When it comes to cryptos, there are many different ways people can profit from them.
You can invest in certain crypto and expect the price to double or triple, you can invest in blockchain technology or some startups and companies associated with it.
If you decide to invest in Ethereum, be sure to choose a reliable crypto exchange, such as Coinbase, Binance, and Coinmama. Also, protect your assets in a secure hardware wallet!
Also, you may want to get your own cryptocurrency. It is made possible by crypto mining rigs and software.
In this guide, we will be talking specifically about Ethereum-related mining topics. We will look for the best Ethereum miners on the market, browse ETHminer (Windows) and get to know the Claymore Ethereum miner.
Why Ethereum?
First things first – why mine Ethereum? Why not Bitcoin, or Ripple, or Dogecoin? There are some reasons.
First of all, many cryptocurrencies, startups, and various other projects rely on Ethereum because they are built on the Ethereum network. Ethereum is open-sourced and uses smart projects for the transactions that occur within it.
One of the main reasons why people mine Ethereum is because it is quite profitable. Ethereum is relatively easy to mine but requires a certain type of software – Ethereum mining software.
Before You Mine
What is mining software? Simply put, it is a program that uses your GPU (graphics card) as a resource to solve complex mathematical equations.
Once this equation is solved, your data is added to the system (or, in other words, your block of information is added to the blockchain). This type of process is called PoW (Proof of Work) and is used by most of the mining software out there.
Before you start thinking about the best mining software out there, you need a few things:
- Mining hardware. In order to maximize your earnings (in some cases, even to earn real income), you need good and complete mining hardware. Hardware is very important when it comes to cryptocurrency mining because good equipment will maximize your earnings while minimizing your costs (i.e. electricity bills).
- A wallet. And no, the wallet you carry in your pocket won’t fit. You will need a certain type of cryptocurrency holder digital wallet. Each currency usually has its own wallet (so in this case, you need to find a secure and reputable Ethereum wallet). If you’re interested in looking at the safest options, check out the Ledger Nano X and Trezor Model T.
- Specified mining location (optional). It’s not a huge need, but if you’re planning to mine Ethereum long-term, you might want to think about finding a special place to do this. The ideal place should be spacious and cool – this way you will be able to keep a lot of Ethereum mining rigs and also keep them cool without investing more money than you would otherwise in cooling equipment.
After getting the essentials, you can then start thinking about the best Ethereum mining software that you can use.
Mining Pools
However, before we move on to the actual software, we have one more thing to discuss, mining pools.
Mining pools are areas of resources that are distributed and shared equally between the respective cryptocurrency miners.
This pool becomes a thing when individual mining becomes so difficult that it is almost impossible to get a block as a rogue miner.
One of the more popular choices when it comes to Ethereum mining pools is Ethermine. This “mining pool” allows users to remain anonymous while requiring a measly 1% mining fee.
Ethermine provides its services in the EU, US, and throughout Asia. They also support some of the most popular miner software options, such as ETHminer or Claymore.
Software for Mining Ethereum
Now that we’ve gone through all the prerequisites and covered the necessary terminology, we can jump right into our list of the best Ethereum mining software. This list is not created in any particular order, nor is it trying to appear one-sided.
The Ethereum mining software listed below has been handpicked and analyzed, with the most interesting features written on the screen.
ETHminer
If you are a Microsoft Windows user, one of the best bets you have regarding Ethereum mining software is ETHminer (Windows Ethereum mining software).
Being one of the most popular and best Ethereum miners, ETHminer (Windows) offers “earnings per minute” and “earnings per day” options, as well as four different affiliate program levels ranging from 10% bonus to 100% bonus!
Although their official site offers little to no information about the software’s creator and even the software itself, download links and files can easily be found on Github.com
If ETHminer (Windows) sounds like the Ethereum mining software you’re looking for and if you use Windows as your operating system, give it a try!
Claymore
The Claymore Ethereum miner is another popular choice if you are looking for good Ethereum mining software.
Claymore Ethereum miner is well known for being well optimized and constantly getting the latest updates.
Currently, miners support the “dual mining” option – according to the creators, you can now mine Ethereum AND other, specific cryptocurrencies (Decred, Lbry, Pascal, or Siacoin) at the same time.
The team behind Claymore also increased mining speed, opened new Ethereum forks, and continues to work to support different types of operating systems (Claymore is currently available on Windows and Linux).
Considering all the effort put into this software for mining Ethereum, it’s probably safe to say that it’s worth checking out!
CGMiner
CGMiner was created and introduced to the public about six years ago. This software for mining Ethereum is built using the C++ programming language, which makes it widely available and acceptable to most of the machines out there.
CGMiner is specifically designed as software for mining Ethereum. One of its most well-known and praised features is that it allows you to work with multiple devices and mining pools.
This is especially useful if you plan to expand and don’t limit yourself to mining with a single device.
CGMiner is very easy to use (all you need is a username, password, URL and you’re good to go!) and very intuitive. It is perfect for beginner cryptocurrency miners.
WinETH
WinETH is another Ethereum mining software for Windows. It runs on Windows devices that have AMD and Nvidia graphics cards.
One of the best features that WinETH has to offer is that it is quite intuitive and easy to use. The software update itself automatically has a “background” mining mode that requires a minimum amount of power and the option to mine only when your computer is inactive.
You can download the Ethereum WinETH mining software directly from their official website, and they also have a tutorial on how to install and use it. Plus, they offer support – all you need to do is reach out.
WinETH deserves a place on the list of the best Ethereum software, whether it is because of the simplicity of their mining software or their willingness to offer you their support.
Minergate
Minergate is one of the best mining software for Mac users. They allow you to mine from the Ethereum blockchain and use ASIC pools.
Minergate lets you access their calculator and even has a cloud mining service. You can also monitor their services via the built-in section of the site or read their latest blog posts about what’s going on in the community.
Minergate is also proud to be a company made up of only cryptocurrency enthusiasts and has round-the-clock support services. They have been established in 2014 and have been growing in business ever since.
If you are a Mac user and are looking for the best Ethereum miner who is also reputable and has 24/7 support, then check out Minergate.
I Have My Software, What Now?
At this point, you have most likely chosen the best mining software that best suits your wants and needs. Good! Now let’s go over the most basic principles on how to use it.
Once downloaded, most software will be a one-click installation. Software like WinETH offers quick and easy guides to help smooth the process (and they might even set everything up automatically for you!), others have tutorials or on-screen wizards on screen that can also walk you through the process.
So you’ve got the best software up and running – what now?
First of all, it is important to know that mining Ethereum (and cryptocurrencies in general) is a very slow and rather expensive process. If you don’t have a custom-designed and professionally built rig, it will likely take a while for you to achieve visible results.
“Cost” is another word to consider. Software for mining Ethereum, at its best, will almost never minimize the cost of electricity required to run a successful Ethereum mining operation.
It might also be a good idea to use software for mining your Ethereum when you are away from your computer (remember the WinETH feature that makes it so the software starts mining only when the machine is idle?).
The reason behind this is simple – if your Ethereum mining software is active while you are trying to do something on the computer, you won’t be able to do it – the PC will be very slow and impossible to use.
Once you’re done mining, the next logical step is to sell what you’ve managed to collect.
Selling is pretty easy, all you need to do is find a reputable and trustworthy merchant and have access to your Ethereum wallet. Or maybe you will go the opposite route and will decide to keep what you have accumulated in the hope that the price of Ethereum will skyrocket soon?