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Mining ETH: 2Miners Solution For High Fees

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Written by   19
1 month ago

Hello,

Today miners received good news about mining Ethereum. As you know the fees for transacting ETH are huge, so when you have a small mining operation, transfering ETH from your wallet to an Exchange or vice-versa can eat a lot of your profits.

Some people chose to mine directly to an exchange to avoid this fees, the problem is that the exchanges have a minimum deposit and Kraken for example is 0.1 ETH. A small miner can take a lot of time to reach this value and electricity bills have to be paid every month.

What's the 2Miners Solution?

2Miners is a pool for mining many different coins and one of them is ETH. ETH is also one of the most profitable to mine and the one with most miners, when we are talking about GPU mining.

The solution is very simple, use a currency that has no fees or less fees than ETH to make the payouts. The currencies that were chosen were NANO and BTC.

NANO is a DAG coin and has no fees when transacting, it's fast, a transaction can take less than a second. What is happening in the background is that you are mining ETH and when you reach your payment threshold the pool will automatically send your mined ETH to an exchamge swap it for NANO and pay you with NANO, the best part is that this has no fees. This enables the pool to pay gains under 2 dollars and even the low performance GPUs achieve this in a day or less. Instead of waiting weeks for your ETH payment you now only have to wait a day. If you don't want NANO, after being paid you can swap it for ETH in your Exchange.

You can do this by switching your ETH address by a NANO address in your .bat file. Remember that you need to be using 2Miners pool for mining to do this.

You can also do this but be paid in BTC, the process for doing it is the same as NANO but you will be paying BTC fees that are less than ETH but can still hurt your earnings. You may prefer BTC because it's less volatile than NANO but you should give NANO a try.

Best Regards,

Cryptopeach

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Avatar for Cryptopeach
Written by   19
1 month ago
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