Stock Trading with Gann Theory
How to mine Monero cryptocurrency?
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Monero (XMR) is the 10th largest cryptocurrency
- Initiated by 2014
- Market capitalisation $1.5 billion
- Price $10 per coin on 2017
- $494 on 2018
- $155 is current price (2020 December)
So, if you are thinking about Monero mining, then you’re not alone. The growth that Monero experienced last year has brought a lot of attention to XMR mining. Monero mining might seem confusing, and you may have many questions such as: how does it work? What kind of software and hardware do I need? How do I start? How long does it take to mine one XMR? Follow me…
How Monero is Different from Bitcoin?
If you want your transaction remains untraceable and private, then Monero may be your best option. Even though Bitcoin is decentralized, it is not private. Monero, however, is both decentralized and private. Monero’s technology allows all transactions to remain 100% private and untraceable. There is no one else on the Monero network that could find out that your transaction ever took place. Privacy is Monero mantra.
Monero Mining Does Not Require an ASIC
An ASIC (Application Specific Integrated Circuit) is a special type of hardware used for Bitcoin mining. An ASIC can cost anywhere between $600 to $1000, which has made Bitcoin mining unattractive for anyone except professionals. Fortunately, Monero mining doesn’t require you to purchase an ASIC. Instead, Monero mining can be carried out using your computer’s CPU/GPU. This has made Monero a good option for beginners and other people who don’t want to invest lots of money to start mining. So, now that you know a bit more about Monero and how it differs from Bitcoin, it’s time to find answer your next question - what is Monero mining?
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