Last Updated on May 21, 2020 by cryptocreed
Bitcoin, ever since its inception in 2009, has changed the way transactions take place globally. It has brought about a revolutionary change in the market by making transactions much faster than traditional methods of payment, like credit cards. whattomine.
Where a credit card transaction takes two to three days to process, bitcoin transactions take only minutes to get approved. Cryptocurrency transactions are independent and decentralized, which makes it very easy to get approval for such transactions.
How Does It Work
WhatToMine.com is a website dealing with cryptocurrency mining. One might wonder, what does cryptocurrency mining mean. Cryptocurrency platforms operate on a peer to peer, model, meaning that they are not governed by any government. Hence cryptocurrency is not actually minted like regular currency is minted by a country’s government.
So, a cryptocurrency needs to be generated or ‘mined’ by running specialized software on the computer, which solves math problems or algorithms. The more problems that the computer solves, the more cryptocurrency one can mine. Computers use their processing power to solve these algorithms. The higher the processing power, the higher number of currencies you can mine.
WhatToMine is said to be a miner’s best friend. WhatToMine was launched in April 2014, by a BitcoinTalk.org user named Fredeq. Following is a WhatToMine review.
WhatToMine combines a lot of different data to give you information regarding which cryptocurrency to mine to get the best profits based on current rates.
How To Use
How to use: The website is very simple to use. You do not even need to scan your system.
- Just enter the GPUs you have and WhatToMine will show you the card hash rates.
- You also need to enter your cost of electricity, but if you don’t know it the WhatToMine website will consider an average cost.
- Once all of this is done, WhatToMine will tell you exactly as its name suggests, What currency To Mine to get the most profits.
Along with telling you which currency is the most profitable for you, it will also show you how much revenue you will earn and your margin on it, based on electricity consumption and its cost. Other features of the website include sorting the cryptocurrencies on the basis of difficulty, NetHash, current revenue, exchange volume, market capital, and profitability.
Mining Profit Calculators
The WhatToMine website features numerous cryptocurrencies, including large-cap and small-cap coins. This wide variety of coins helps the user to efficiently choose the currency that will make him the most profitable. Because it is fully automated, the user does not have to spend hours trying to figure which currency to mine because What to mine can tell the user the results within seconds. It is very convenient to use because it does not require too much data to calculate which currency is the most profitable.
WhatToMine is a very helpful website for miners. It saves the miners’ time and energy by telling them exactly which currency to mine, based on your mining rig. All you have to do is enter your GPU, the number of units you currently have, and the cost of electricity. WhatToMine runs the data and tells you exactly which cryptocurrency is the best for you.
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