Mining altcoins & withdrawing the same mined coin to your wallet

[vlad230]

I'm new to mining and I would like to mine for various altcoins (mainly low difficulty & value ones).

I'm currently looking for a PC mining app (CPU or CPU + GPU for windows) that has low fees and gives you the option of withdrawing the coin you mined to your wallet. (rather than having it transformed to bitcoin, ethereum, litecoin etc).
It would be nice if you can also specify the mining pool for it so you could mine any new altcoin (not sure it this is possible though).

Are you using any mining software that allows you to do this?

Also, can you recommend a wallet that has low fees for various altcoins?

[1714871595]

1714871595

[puwaha]

Mining software does not provide you with coins.  The pool and wallet are the only things that deal with coins.  You will use mining software to contribute hashrate to a pool.  You will then withdraw coins that the hashrate contributes to from the pool to your own wallet.  There are thousands of coins, and no single wallet that will hold them all.  You are better off using the official wallet for the coin you are mining.  Depending on the pool, you also have the opportunity to mine directly to an exchange's wallet for that coin.  This keeps you from having to run dozens of wallets on your computer.  I say it depends on the pool, as exchanges don't like for you to mine directly to their wallet, but if the pool has a threshold to reach before it automatically pays out, then the "deposits" are not too frequent, and exchanges won't care about this.

If you are using one of the yiimp based pools, then you can keep the coin you are mining instead of having it convert to BTC by using the "c=XXX" parameter on the password of your batch file... where the XXX part is the short code for the coin... like c=GOA for mining and keeping Goacoin... or c=ALTCOM for AltCommunityCoin.

[vlad230]

Mining software does not provide you with coins.  The pool and wallet are the only things that deal with coins.  You will use mining software to contribute hashrate to a pool.  You will then withdraw coins that the hashrate contributes to from the pool to your own wallet.  There are thousands of coins, and no single wallet that will hold them all.  You are better off using the official wallet for the coin you are mining.  Depending on the pool, you also have the opportunity to mine directly to an exchange's wallet for that coin.  This keeps you from having to run dozens of wallets on your computer.  I say it depends on the pool, as exchanges don't like for you to mine directly to their wallet, but if the pool has a threshold to reach before it automatically pays out, then the "deposits" are not too frequent, and exchanges won't care about this.

If you are using one of the yiimp based pools, then you can keep the coin you are mining instead of having it convert to BTC by using the "c=XXX" parameter on the password of your batch file... where the XXX part is the short code for the coin... like c=GOA for mining and keeping Goacoin... or c=ALTCOM for AltCommunityCoin.

Thanks for the reply, puwaha! Can you be a bit more specific?

I have discovered the Minergate app that allows me to mine through Cryptonote for altcoins and then transfer them to my wallet (I found MyEtherWalltet to carry a lot of different altcoins - is it good?) without exchanging them to other currencies.
Do you know of better apps I can use to mine (using CPU mostly) maybe even other apps that cover other altcoins?

[Ranger9202]

Mining software does not provide you with coins.  The pool and wallet are the only things that deal with coins.  You will use mining software to contribute hashrate to a pool.  You will then withdraw coins that the hashrate contributes to from the pool to your own wallet.  There are thousands of coins, and no single wallet that will hold them all.  You are better off using the official wallet for the coin you are mining.  Depending on the pool, you also have the opportunity to mine directly to an exchange's wallet for that coin.  This keeps you from having to run dozens of wallets on your computer.  I say it depends on the pool, as exchanges don't like for you to mine directly to their wallet, but if the pool has a threshold to reach before it automatically pays out, then the "deposits" are not too frequent, and exchanges won't care about this.

If you are using one of the yiimp based pools, then you can keep the coin you are mining instead of having it convert to BTC by using the "c=XXX" parameter on the password of your batch file... where the XXX part is the short code for the coin... like c=GOA for mining and keeping Goacoin... or c=ALTCOM for AltCommunityCoin.

Thanks for the reply, puwaha! Can you be a bit more specific?

I have discovered the Minergate app that allows me to mine through Cryptonote for altcoins and then transfer them to my wallet (I found MyEtherWalltet to carry a lot of different altcoins - is it good?) without exchanging them to other currencies.
Do you know of better apps I can use to mine (using CPU mostly) maybe even other apps that cover other altcoins?

There is barely any altcoin that you can mine with CPU that will make you a decent amount of coins/$$. You can try Electroneum, but don't expect anything great. I've tested alot of miners/coins, nothing has proven worthy.
I've been mining with my CPU using this miner https://bitcointalk.org/index.php?topic=2527462.0 . He is a Bitcointak member, and pays every day to faucethub directly in BTC. I've got around 110k satoshi this month, considering I haven't shut down my PC, and I even mine when I work/browsing/gaming, it doesn't overheat your CPU, and electricity cost is minimal ( at least for me coz my bill was the same for 2 months ago ).

[puwaha]

Mining software does not provide you with coins.  The pool and wallet are the only things that deal with coins.  You will use mining software to contribute hashrate to a pool.  You will then withdraw coins that the hashrate contributes to from the pool to your own wallet.  There are thousands of coins, and no single wallet that will hold them all.  You are better off using the official wallet for the coin you are mining.  Depending on the pool, you also have the opportunity to mine directly to an exchange's wallet for that coin.  This keeps you from having to run dozens of wallets on your computer.  I say it depends on the pool, as exchanges don't like for you to mine directly to their wallet, but if the pool has a threshold to reach before it automatically pays out, then the "deposits" are not too frequent, and exchanges won't care about this.

If you are using one of the yiimp based pools, then you can keep the coin you are mining instead of having it convert to BTC by using the "c=XXX" parameter on the password of your batch file... where the XXX part is the short code for the coin... like c=GOA for mining and keeping Goacoin... or c=ALTCOM for AltCommunityCoin.

Thanks for the reply, puwaha! Can you be a bit more specific?

I have discovered the Minergate app that allows me to mine through Cryptonote for altcoins and then transfer them to my wallet (I found MyEtherWalltet to carry a lot of different altcoins - is it good?) without exchanging them to other currencies.
Do you know of better apps I can use to mine (using CPU mostly) maybe even other apps that cover other altcoins?

Hmmm... ok.  You are using Minergate, which means that you are very new to mining.  I suggest you not use that anymore.  The performance of Minergate is pretty poor.  Since you are new, I can suggest you try Nicehash's tool.  It will use better mining software and pay you directly in BTC.  You can then use the BTC to buy the coins you really want.

There are a lot better options out there than Nicehash, but it's easy to get started with.  The problem you are going to run into with Nicehash is that they have a high threshold for payouts right now.  There are some tricks to help... but this will require a bit more knowledge in mining, exchanges, and wallets.

If you are really wanting to take the plunge, then don't use Nicehash or Minergate.  Find a coin that you want to mine... you can use whattomine.com or crypto-coinz.net for some suggestions.  You will need to download the wallet for that coin, create a wallet address, and then use that to mine the coin at a pool.  You can go ahead and start mining as soon as you get the wallet address, you don't have to wait for the wallet to sync.  Now, depending on the coin you choose, it will use a specific algorithm, you will then need mining software to mine that algorithm.  You download a copy of that mining software, setup a batch file with the relevant information to mine to a pool that supports the coin.  Depending on the pool, you may have to set a threshold for payouts, or they may have automatic payout thresholds.

There's a lot... and I mean a lot of knowledge in between those sentences in the last paragraph above.  This will take some time to acquire.  I suggest you start with Nicehash, and spend a couple, or more weeks reading articles, watching youtube videos, and reading the threads here.  Hopefully after those two, three, or four weeks, you will have gotten enough BTC from Nicehash to cash out, and you will be ready to graduate to mining specific coins.

I hope I don't come off as rude, but it's impossible to transfer years of knowledge in a few paragraphs.

[vlad230]

Hmmm... ok.  You are using Minergate, which means that you are very new to mining.  I suggest you not use that anymore.  The performance of Minergate is pretty poor.  Since you are new, I can suggest you try Nicehash's tool.  It will use better mining software and pay you directly in BTC.  You can then use the BTC to buy the coins you really want.

There are a lot better options out there than Nicehash, but it's easy to get started with.  The problem you are going to run into with Nicehash is that they have a high threshold for payouts right now.  There are some tricks to help... but this will require a bit more knowledge in mining, exchanges, and wallets.

If you are really wanting to take the plunge, then don't use Nicehash or Minergate.  Find a coin that you want to mine... you can use whattomine.com or crypto-coinz.net for some suggestions.  You will need to download the wallet for that coin, create a wallet address, and then use that to mine the coin at a pool.  You can go ahead and start mining as soon as you get the wallet address, you don't have to wait for the wallet to sync.  Now, depending on the coin you choose, it will use a specific algorithm, you will then need mining software to mine that algorithm.  You download a copy of that mining software, setup a batch file with the relevant information to mine to a pool that supports the coin.  Depending on the pool, you may have to set a threshold for payouts, or they may have automatic payout thresholds.

There's a lot... and I mean a lot of knowledge in between those sentences in the last paragraph above.  This will take some time to acquire.  I suggest you start with Nicehash, and spend a couple, or more weeks reading articles, watching youtube videos, and reading the threads here.  Hopefully after those two, three, or four weeks, you will have gotten enough BTC from Nicehash to cash out, and you will be ready to graduate to mining specific coins.

I hope I don't come off as rude, but it's impossible to transfer years of knowledge in a few paragraphs.

Thanks for the information! Yes, this is the way I want to go. I do have a wallet address online with MyEtherWallet.

Can you please tell me what is the software called (the one that allows you to specify the pool & the coin)?

P.S. I have also tried NiceHash yesterday (before Minergate) but indeed they have high fees and it's not the way I want to go (since it converts to BTC and you need a lot of hash power to make anything until a payout).

[puwaha]

Thanks for the information! Yes, this is the way I want to go. I do have a wallet address online with MyEtherWallet.

Can you please tell me what is the software called (the one that allows you to specify the pool & the coin)?

I don't think you absorbed everything I wrote above.  What coin do you want to mine?  What research have you done so far?

[Anonymous619]

Thanks for the information! Yes, this is the way I want to go. I do have a wallet address online with MyEtherWallet.

Can you please tell me what is the software called (the one that allows you to specify the pool & the coin)?

I don't think you absorbed everything I wrote above.  What coin do you want to mine?  What research have you done so far?

Sir puwaha your transaction is now confirmed. Thanks

[luba6666]

I'm new to mining and I would like to mine for various altcoins (mainly low difficulty & value ones).

I'm currently looking for a PC mining app (CPU or CPU + GPU for windows) that has low fees and gives you the option of withdrawing the coin you mined to your wallet. (rather than having it transformed to bitcoin, ethereum, litecoin etc).
It would be nice if you can also specify the mining pool for it so you could mine any new altcoin (not sure it this is possible though).

Are you using any mining software that allows you to do this?

Also, can you recommend a wallet that has low fees for various altcoins?

no,the money from the production of power,you'll be with Niemann with pools,for your purse

[puwaha]

Thanks for the information! Yes, this is the way I want to go. I do have a wallet address online with MyEtherWallet.

Can you please tell me what is the software called (the one that allows you to specify the pool & the coin)?

I don't think you absorbed everything I wrote above.  What coin do you want to mine?  What research have you done so far?

Sir puwaha your transaction is now confirmed. Thanks

Wrong thread, Anonymous619... but thank you enormously.  Tip is on it's way.

[Anonymous619]

Thanks for the information! Yes, this is the way I want to go. I do have a wallet address online with MyEtherWallet.

Can you please tell me what is the software called (the one that allows you to specify the pool & the coin)?

I don't think you absorbed everything I wrote above.  What coin do you want to mine?  What research have you done so far?

Sir puwaha your transaction is now confirmed. Thanks

Wrong thread, Anonymous619... but thank you enormously.  Tip is on it's way.

Haha it's okay youre welcome Sir ..

[nsummy]

Check out this site:  https://miningpoolhub.com/   and read the quick start guide on the right.  This allows you to mine a variety of different coins and it gives you the option to either keep the coins or autoexchange for BTC, It additionally will hold your coins for you until you withdraw them.  This is good if you aren't sure where you want to store them right away.