For mining altcoins, you usually need GPU mining rig. Before I proceed:

Warning – equipment can cost you a lot, depending on how fast you want your system to run.

If you want to mine for cryptocurrencies at home, you can purchase everything you need on Amazon. And it should cost you less than in the store. Here’s everything you need:

  1. 1 Power Supply – Strong power supply is required to run the mining rig with 1200w
  2. 1 Motherboard with CPU – It is very important to have a perfect match with the graphic cards.
  3. 6 Graphic Cards (GPUs) – This is the core of the mining operation. Here’s top 3: Sapphire Radeon Rx 480, Sapphire Radeon Rx 470, Gigabyte GeForce GTX 1070
  4. 1 RAM stick – 4GB of DDR3 RAM should be enough, the memory is not that important in the mining rig
  5. 6 packs of Powered Riser Cables 1x to 16x – Needed to connect the graphic cards to the motherboard and help user to leave space between cards to allow a better air flow.
  6. 1 Hard Drive – Solid State Drive (SSD) is needed to keep everything running at the decent speed
  7. Cooling – A good fan to keep the temperatures down on the graphic cards
  8. Operating System – Windows 10 supports 6 GPUs together, but you can also use Linux.

Here’s a video that explains how to build a mining rig:

After you build it, you’ll need to download the mining software. It’s open source, which means it’s free to download and use, plus it supports different operating systems. There are different algorithms, so make sure you get the right one for you.

The software does all the heavy work, going through the seemingly random combination that will open the padlock to the block of pending transfers. The faster and more powerful the hardware, the faster you’ll be able to mine for your desired cryptocurrency.

As a prospective miner, you’ll also need a wallet. Once a cryptocurrency has been created (mined) by your computer, it is deposited into your virtual wallet. Wallets for Bitcoin and Ethereum. Wallets for other cryptocurrencies can be found by simply searching the web.

Also, working on your own can be difficult. That’s why it may be a good idea to join a mining pool.

On one hand, joining a mining pool means sharing your rewards. On the other, it means you actually have some chance of solving a block and mining cryptocurrency.

Once you start mining, you can use a mining calculator to calculate your mining profitability.

Once you’ve mined a cryptocurrency, you may want to use trading platforms to store, trade, and sell it.

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Posted by Min Park

Blockchain Marketing Consultant

One Comment

  1. great and helpful blog to everyone.. thanks a lot for sharing


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