How to start BCH mining?

So by now you should know how much you need to invest in your mining equipment, as well as how much you will earn. If you still want to try BCH mining, here's how to do it. First you need a BCH wallet to receive your future rewards. For security reasons, it is recommended that you choose a wallet that holds your private key on the device on which it is installed. Be sure to back up your wallet file (wallet.dat) to a separate device, or print a copy and keep it in a safe place. In the event that your computer shuts down or is stolen, you will not be able to recover your funds without this file - they will be lost forever. You can read more about BCH wallets in our guide about it. At this point, you should consider whether you want to mine on your own or join a mining pool.

The mining pool is made up of a group of BCH miners who join forces with their computer forces to increase their chances of solving tasks. In the pool, your mining equipment will get smaller and easier solving algorithms, and your overall collaboration will increase the chances of the pool solving a larger algorithm and receiving a reward. When the pool receives the prize, it is distributed among the participants according to the invested computer power.

On the other hand, if you successfully successfully complete a block of transactions on your own, you will have the full amount of the reward of 12.5 BCH for yourself. However, if you do not have powerful enough mining equipment, which requires a huge amount of electricity to work, you have no chance to "seal" the block. Thus, the absolute majority of ordinary miners opt for group mining. When choosing a group, be sure to check how big it is, how often they find the block, what the payment structure is, what fees they charge, and what kind of statistics they provide. To join the pool, you need to log in to their website and create an account. After that, you need to add a ‘worker’. For every mining? you run, you need to use an ID so that your contribution can be tracked.

At this point, you're practically ready to plug your mining hardware into power, plug it into your computer, and run it. If you have decided to join the pool, then it will, in most cases, have its own software. Some come with everything pre-configured, including the wallet address. In that case, plugging in is all you need to do. If you are part of a pool, you will need to enter the username, password and address of the pool in the software. Once configured, you can start mining coins. If you mine on your own, once you stop? block, the prize will appear on the linked wallet. If you are part of the pool, your part of the prize will be automatically calculated and added to your account. Just make sure you enter your wallet address in the field provided when you check in.