It became increasingly hard to find a person who has not yet heard about cryptocurrency, especially about bitcoin. When your hairdresser or taxi driver talks about the bitcoin investment, you understand that everyone already knows what cryptocurrency is.
But how can you earn money from mining if you are away from the cryptocurrency world subject: use the MinerGate platform and the power of your computer’s processor to generate tokens or money. You do not need to understand what `s mining, blockchain, hash, and transactions are. Everything seems pretty clear: the pool mining is designed to help the person who knows little about mining, to use it without difficulty. But it is so?
Details of MinerGate
MinerGate is a multipool mining created in 2014, with unknown owners, available all over the world. It is the first mining pool that allows mines different coins at once without decrease the hash rate of the major coin.
The idea behind MinerGate is to offer an easy and affordable use by amateur miners. It adapts the difficulty to the power of the CPU or graphics card of the user`s computer, which allows more efficient mining even on weak equipment.
For those who have not yet been able to understand, mining is the confirmation of transactions. Specialize mechanisms who run complex algorithms are used to generate hashes. Hashes are large numbers and are usually written as hexadecimal; hash speed is the speed with which a computer operates in Bitcoin code). In other words, mining is the process of obtaining cryptocurrency by using your computer`s computations.
How does this pool mining work?
For starters, you need a computer, an internet connection and a software. Simply download their software from their page, install it and start mining. They have an app for every platform, Windows, Linux, Mac, Mobile. It sounds great, but stay real, the smaller the device is, the less money you make. A phone is almost useless in terms of power hashing. MinerGate`s rewards are corresponding to the power of the processor. More exactly, on your device`s components, focusing first on the processor and on the graphics card. The platform shows the number of hashes that can be obtained by your device for one second.
MinerGate operates with these cryptocurrencies:
Their affiliate programs
To use MinerGate`s affiliate program you need to register in order to get the affiliate link. You will receive commissions of% for each active user who has registered with MinerGate through your recommendation as follows:
How about the money
The cash depends on your hardware. Usually, mining from a normal laptop would make you like $0.20-$0.30 a day. The minimum withdraw is 0.01BTC. So, it may take you a will to get you there.
They have the Cloud mining option where for an amount of cash you may buy CPU power, mining from quality hardware who mine cryptocurrencies on your behalf. However, it not a good idea of investing money in cloud mining – it will never pay back your investment. Just ask yourself why would anyone mine for you?
It is really easy to withdraw your earning to your wallet: In your account in Dashboard select Withdraw button, select the amount and cryptocurrencies you want to withdraw; complete with your Payment ID if you transfer it to a website or your wallet address and that`s it. The tokens are transferred almost instantaneous but most just take few hours.
The pros of MinerGate
Some of the MinerGate`s pros are features that aren’t available on other mining sites.
- Easy to use – MinerGate has an interference design for novices
- Security- uses a 2-factor authentication process
- Affiliate Program
- The support team is on air 24/7
- Their system allows mining 2 tokens at the same time without decrease the rated speed
- Has an algorithm that switches to the most profitable crypto coins
- Option to mine up to 8 cryptocurrencies
- You can choose how much from your computer’s resources you want to mine
- MinerGate has a 5% fee for Pay Per Share Payments and 1% fee for Pay Per Last N Shares payments.
- There are many complains about MinerGate skimming their users’ hash power
- Low wages and high electricity bill
- Cloud Mining features – a questionable option, you will not have a quick profit
Is MinerGate legit?
MinerGate is legit as it does let withdraw the coins you mined. But with low powered computers, which is what MinerGate is aiming at, is hard to gain something substantial and there are also fees. You may try even it’s just for fun and see where it will get you financially. It’s not a way to earn money online, nor even for bills. To use this method of gaining money online, you should definitely be passionate about everything that involves this world of cryptocurrencies.
We don`t recommend because isn’t worth the electricity cost and the price of your hardware (your hardware may crush while mining). Also, make real money using their cloud mining feature isn`t realistic. Even if you pay a price you can’t make quick money on it. Most of the so-called cloud mining sites are a scam or don’t pay. If the crypto market or the site you gave the money disappears, you will be empty-handed.
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