Hi Steemit Friends,
I know many of you have a Pro backing with Cryptos, and a very good understanding on mining. But for those beginners who don't have a strong a background with that, Maybe this might help :). So first thing you should do is to make a account with Minergate. He's a link for you to use
https://minergate.com/a/36b17ed0b768fbed81d972a7
After setting up an account with Minergate, you should log into your dashboard which should look like this.
From here you can pick between the fee that minergate makes, One is PPLNS, and the other is PPS. Here are the difference between those two:
PPLNS is a way of determining how many cryptocoins you get for your shares completed. Pay Per Last N Shares is what PPLNS stands for.This method of calculating payouts includes a "luck" factor. Using PPLNS your payout per share will have a large range(30% more or less on your payouts), but on average, PPLNS earns more than PPS (by 5% or so) in the long run (a month or more).
PPS is also known as Pay Per Share. It is a more direct method where you get a standard payout rate for each share completed.This method eliminates the "luck" in your payout, but can decrease your total income per share by around 5%. Using PPS you get a set number of cryptocoins per share of work you have solved. It has no luck involved so the payouts do not fluctuate.
To choose between those, If you are looking to make money off of the cryptocoin network, you want to use PPLNS due to its higher payout. PPLNS will give you wide fluctuations in your 24 hour payout, but for hardcore miners, the law of large numbers states you will earn more this way. This is for people trying to mine as fast as possible.
PPS is for people who want to have statistics to base calculations off of for upsizing their mining power.PPS is not recommended for a simple mining because the payout is less in the long run.
After you make a account you should download the program onto your computer. When it downloads, you should get a image that looks like this.
From here you can choose what your smart miner will be set up as. Majority of the time it will set it up for Monero (XMR). Than you can click on the tab on the top that says MINER. When you do you should get a screen that looks like this.
From this point you can pick which coin you choose to mine. And how many cores you would like to use on you computer. You can mine two different ways, one is with your CPU, and the other is with the GPU. You can gain more in the shorter amount of time with your GPU than your CPU, but if your one of those people who loves their video card I don't recommend going to extreme on the cores on your GPU. After choosing the amount of cores your willing to use you can press the play button , and then on it should start mining. You'll see it should be mining in the unconfirmed section. When you mine the amount to confirm, it will end up in the built-in wallet that comes with the program. Then on you can deposit it into your other wallets you have on your trading accounts. If you don't have any trader exchange accounts here are some you can use. I know many of you already have them , but those who don't here's some links .
HITBTC
https://hitbtc.com/?ref_id=5a53b18618414
BINANCE
https://binance.com/?ref=16522315
There are many other ones to choose from, like MANY other ones to choose from depending on the coins you would like to trade. If you don't want to trade any coins , and rather keep them. Minergate makes it easy to set up a Freewallet account to deposit you coins into. Or you can just leave them in the built-in wallet that Minergate comes with.
If you liked the post, and the information that I posted or the topic. Leave a comment I rather have this post as a discussion thread. Tell me, and the others that read this post of other ways , and pools that are available out there. Or if you already have been using Minergate which coin on the miner was most profitable for you. I really hoped this helped out some crypto-noobs out there who are all new to this new technological world. Follow me if you like, so we can have more people to discuss with :)
Thanks again Steemit friends... Best of luck on your mining :)