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A feature of most cryptocurrencies is that they have been designed to slowly reduce production. Consequently, only a limited number of units of the currency will ever be in circulation. This mirrors commodities such as gold and other precious metals. For example, the number of bitcoins is not expected to exceed 21 million. Cryptocurrencies such as ethereum, on the other hand, work slightly differently. Issuance is capped at 18 million ethereum tokens per year, which equals 25% of the initial supply. Limiting the number of bitcoins provides ‘scarcity’, which in turn gives it value. Some claim that bitcoin’s creator actually modelled the cryptocurrency on precious metals. As a result, mining becomes more difficult over time, as the mining reward gets halved every few years until it reaches zero. It is decentralized; there is no singular authority that controls it, and instead it uses encryption based on blockchain technology, calculated by multiple parties on the network, to verify transactions and maintain the protocol. Incentives are given by the protocol to those that contribute computing power to verify transactions in the form of newly-'mined' coins, and/or transaction fees. In other words, by verifying and securing the blockchain, you earn some coins.All of you who are involved in this, right now, are making history.bitcoin бесплатные bitcoin x If you are ASIC mining, your hardware likely comes pre-installed with mining software. If you are *****U or GPU mining, you will need to choose your own software, keeping security in mind. A software package could contain malware. You should also watch out for other tricky, if not outright malicious, behavior. It's easy enough to find yourself accidentally mining on behalf of the software's developer because their system configures their worker as the default.капитализация ethereum ethereum алгоритм форумы bitcoin ethereum 1070 forecast bitcoin

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Monero Wallet
There aren’t many options when it comes to choosing a Monero wallet. Hardware wallets (which are considered the safest) are now also available for Monero coins: they are supported by Ledger Nano X and Trezor Model T. These wallets are currently considered the safest ones in the market.

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Two of the most popular wallets, which are also listed on Monero's official site are:

MyMonero web wallet: Simply go to their website and create an account to start using it.
Monerujo: This is a mobile wallet that is only available for Android devices.
Monero mining: Mjonerujo android wallet for Monero.

On their official website, they have stated that the Monero community has funded a Dedicated Hardware Wallet which is now in progress. The Ledger Nano S is also working on integrating Monero into their hardware wallets.

So, let’s hope this happens soon!

You should now have a good understanding of all the aspects of Monero mining. However, you might still be wondering whether you should start XMR mining or not?

Should You Mine Monero?
You want to mine Monero to make profits, right?

Well, while Monero mining can be profitable, it depends on a lot of factors, the most important of them being:

Hash Rate: How powerful your hardware is.
Power Consumption: How much electricity your hardware uses.
Cost per KWh: How much your electricity costs per unit.
Pool Fee: The fee for the mining pool you are joining.
Initial cost of setting up the hardware.
You can try using a Monero mining profitability calculator online! We recommend CryptoCompare’s Mining Calculator.

The profitability of mining also depends on the price of XMR. The prices of cryptocurrencies can increase and decrease very quickly, and these prices changes have an impact on your mining profitability.

It's completely up to you if you want to start mining, though. Consider the factors above, and then make your decision. Just remember - the more you invest, the more likely you are to be rewarded.

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Conclusions
So, now you have a good understanding of what Monero is, and how is it different from Bitcoin. You also know what Monero mining is and the different ways to do it.

Monero mining may or may not be profitable, it all depends on these factors: hash rate, electricity cost, hardware cost, and so on.

If you feel like Monero mining is for you, then you can use the information in this guide to start mining!

If, however, you've decided that you'd like to take an alternative route of investing in cryptocurrencies, you could simply purchase some on platforms such as Coinbase and Binance.



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