Minergate is a popular mining service where you can earn Bitcoin and other cryptocurrencies. Let's figure out what this program is, how to work with it, how to withdraw profits and how other users make money with it. We recommend that immediately after the review, visit the official website minergate.com, test everything yourself and make your first profit.
What is MinerGate
Mining pool MinerGate
MinerGate
is the largest multi-currency mining pool that entered the market in 2014.
Today, MinerGate is a major international portal for mining and has more than 3.9 million users worldwide.
With MinerGate you can mine the following coins:
- Ethereum (ETH);
- Ethereum Classic (ETC);
- Bitcoin Gold (BTG);
- Zcash (ZEC);
- Bytecoin (BCN);
- Monero (XMR);
- Monero Classic (XMC).
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Minergate also has its own token, MinerGate (MG), which was also released in April 2022.
The coin is supposed to be used as a kind of loyalty tool for service users. Several tokens have already been distributed to the most active clients as a token of gratitude for their feedback and contribution to the development of the project.
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Official website MinerGate
Reviews
The user has connected Minergate and simultaneously downloads Bytecoin along with Ethereum. Bytecoin gives more profit. If you need Ethereum, then we recommend that the user use the crypto exchange exchanger and exchange the earned Bytecoin for Ether.
The user talks about different ways to make money using Minergate: you can make money on your own PC, you can buy a mining farm, you can download a program for Android and organize a mobile miner, you can do cloud mining or make money through affiliate programs. The video uses a calculator, calculates the payback and selects the optimal mining method for different starting capital.
The user compares MinerGate with a similar cloud service Kryptex. According to the author, MinerGate is the best site for earning Bytecoin and this is the best solution for weak equipment. Minergate has a version for Windows, which can be downloaded in Russian without any problems. The main disadvantage of the project is the large commission fee calculated for transactions when withdrawing profits - the user became very angry with the commission, so at times obscene language slips through. Children should not watch.
Features of MinerGate
Mining with Minergate
In a competitive market, each company strives to provide some unique options that will allow it to stand out among competitors and attract more users. Minergate is no exception. The main features of MinerGate are described below.
Smart Mining Feature
This is a unique development of the company, which involves intelligent mining
.
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In this mode, the system automatically mines the currently most profitable cryptocurrency based on an analysis of your current computing power and established currency exchange rates.
If the profit leader changes, the application begins mining the new currency. It's hard to say how much the system takes into account other important points, but it is a tempting feature, especially for those who want to start mining on MinerGate without unnecessary hassles.
Merged mining
Cryptocurrency mining
The service provides a unique opportunity to mine two cryptocurrencies simultaneously based on the CryptoNote cryptocurrency algorithm. Minergate users can mine Monero Classic and simultaneously mine Bytecoin without losing hashrate for the main coin, thereby increasing mining profits. The function is implemented through the MinerGate Pro mining pool.
Special software for mining
For the convenience of users, Minergate developers have released and regularly update special software for mining cryptocurrencies. Separate versions of the program have been developed for various operating systems, and there are both console versions and GUI miners.
The mining program is very easy to use, as it allows you to mine all available cryptocurrencies through one application.
Mobile application MinerGate Control
The company has developed a special application for Android smartphones that helps the user manage and control the mining process directly through the phone.
The app allows you to connect to your Minergate account and remotely track your balance, receive notifications, and control your devices. It is important to note that the application does not support mining on a smartphone.
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The application is possible.
How to use MinerGate
How to start using MinerGate
How to use MinerGate:
- Step 1. Go to the official MinerGate website.
- Step 2. Register by entering your email and creating a password.
- Step 3. Confirm your email by clicking on the link in the email.
- Step 4. Set up two-factor authentication (2FA) through the user account.
- Step 5. Calculate the mining profitability of the selected coin using a special Minergate calculator.
- Step 6. Download and install special software from the MinerGate website.
- Step 7. Select the reward type in the MinerGate mining pool.
- Step 8. You are ready to mine on Minergate!
Below we will describe all the details of working with the Minergate pool.
Registration
Go to the official MinerGate website, which was listed above. The portal home page will open in front of you.
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As mentioned earlier, MinerGate is aimed at users from all over the world, so it is not surprising that the site interface is available in 19 languages, including Russian.
But it is worth noting that the site has been partially translated, so if you have any difficulties, we advise you to immediately use the built-in translation function of your browser.
By the way, the developers of the service offer users help with adapting the translation of the site for a fee in the form of a discount on using the pool.
Additional discounts for MinerGate users
To create an account, click on the “Register” button:
Registration on MinerGate
Creating an account on MinerGate occurs without unnecessary checks and filling out time-consuming forms. All you need to do is provide your email address and create a password.
Registration on MinerGate
After entering this data, you become a full member of the MinerGate community.
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MinerGate is giving all new clients 15 days of free Monero (XMR) mining.
MinerGate personal account
The MinerGate user’s personal account is located on the “Panel” tab. It contains all the necessary information and tools to navigate mining and income management.
Let's start with the "Profile" tab. This contains the user’s personal data, as well as security settings and account activity history.
After registering an account, it is important to complete some mandatory security settings, such as confirming your email address and enabling two-factor authentication (2FA). Without this, withdrawal of funds and other actions with the account are impossible on MinerGate.
We suggest that you immediately go to the “Panel”> “Profile” menu and click on the system notification shown in the picture below to authorize your email.
Email address authorization
To connect 2FA, just scroll down the page and, using the Google Authenticator application, enter the confirmation code in the appropriate field. To confirm your actions, click the “Activate” button.
Setting up 2FA
The "Panel" tab displays basic information about all your active mining and balances. There is also detailed information for each coin: mining status (online/offline), your current hashrate and the pool hashrate for this currency, the number of miners in the pool, etc. It is on this tab that all manipulations with the balance and tracking of mining profitability are carried out.
Mining control menu
All transfer and withdrawal transactions are displayed in the “Transactions history” section.
Very detailed instructions on how to start mining on MinerGate in the video below:
How to start mining on Minergate
Minergate: how to start working with the service
The process of starting work on a pool is simplified as much as possible, this is part of the Minergate concept. How to work and quickly switch to mining?
Registration for Minergate (detailed instructions)
You can register for the service by going to the main page using the “Registration” link in the upper right corner:
After this, a simple form will open in which you will need to enter your email address and enter your password twice.
The user will also be required to agree to the terms of service.
After sending all the data, the client will need to go to his email and follow the link from the letter to confirm the address.
After completing the registration process, you can download and install the xFast GUI Miner program. After launch, it will evaluate the hardware capacity and offer to start mining.
Mining income on Minergate
The Minergate pool can generate the greatest income when using powerful video cards or miners. The official website has published a list of devices available for operation, as well as a calculator of expected income from cryptocurrency mining.
In its blog, the project provides the power that video cards can produce when working through xFast GUI Miner.
Based on these figures, then, when using a GeForce GTX 1070 with 8 gigabytes of memory, you can get 27 megahash per second. According to the calculator, this will bring in $6.82 per week when mining Ethereum [ETH]. The figure is based on the exchange rate of $142 per ETH and does not take into account electricity costs.
Radeon RX580 can produce 26 megahash, which will allow you to mine 0.046 ETH. This amount of cryptocurrency can today be sold on exchanges for $6.58.
NVidia video cards with CUDA version greater than 7.5 and AMD with OpenCL from 1.2 are suitable for work. To mine Ethereum, you will need cards with at least 2 gigabytes of memory, which is due to the size of the ever-growing DAG file.
ASIC miners can produce more power, but it makes sense to use them only for Litecoin [LTC], since other cryptocurrencies are resistant to this mining method. When first installed, the program will estimate the potential income that can be obtained by mining on the device in the current market realities.
You can also earn money by attracting referrals: from each invitee, Minergate pays 35-75% of the pool commission they contributed.
MinerGate - how to withdraw money?
To withdraw cryptocurrency to your wallet, you need to go to the user panel, where there is a “Withdraw” button opposite each currency. In the form that appears, you will be asked to enter the address for transferring funds. The minimum amount for withdrawal from the miner gate is 0.001 of the selected currency.
In the user panel, you can also conduct an exchange using the Changelly exchange.
Withdrawals can be made not only to your wallet, but also to your account on the exchange. To do this, you need to fill in the “Payment ID” line. This number can be found on the personal details page of your cryptocurrency exchange.
After completing the withdrawal, it will appear in the “Transaction History” section, where you can see the status of the operation. According to community users, the speed of withdrawals remains unsatisfactory and many have to wait a long time for the money to arrive.
MinerGate Calculator
Mining calculator on MinerGate
Before you start mining coins, we advise you to use a special mining calculator, which is presented on Minergate.
The Minergate online calculator allows you to calculate your estimated profit based on your hashrate. All cryptocurrencies are grouped depending on the mining algorithm.
To calculate your mining profit, simply enter the hash power you have or plan to have and be sure to enter the correct unit of measurement in the drop-down box next to this field.
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The MinerGate mining calculator is located in the Services tab
MinerGate profitability calculator
The system will automatically calculate the potential profit from mining taking into account the entered data, as well as the complexity of the network, the amount of reward for the mined block, pool commission, etc. All calculations are presented in the form of a table, which shows the approximate profit per hour, day, week. In this case, the user can also select the unit of payment - BTC, USD or EUR.
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In addition, in this section you can see the most profitable coin for mining on MinerGate at the moment. Such a coin is marked with a special icon, as shown in the screenshot below.
Minergate Profitability Calculator
How to start
- Consider whether you are interested in cloud mining or whether it is better to choose safer ways to obtain cryptocurrency. To understand everything, read the article “What is cloud mining and how to start earning cryptocurrency from it?”
- If you decide to try it, allocate an amount for the experiment that you don’t mind parting with.
- If you manage to make money, withdraw the starting capital, and leave the profit received in the project. This way you eliminate risk and open up a new source of income.
- When you figure it all out, invest in cloud mining as much as you want. Just don’t forget to read the article about scams in the world of cryptocurrencies first.
Friends, how do you like the Minergate service? Write, is it really possible to make money here and what are your results?
Best regards, Artem Bilenko project team. “Your life line is in your hands”
Mining on MinerGate
Cryptocurrency mining on MinerGate
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Mining on MinerGate is implemented through the use of special software, which was independently developed by the service team.
This is definitely an advantage
Minergate, as it makes it easier for users to find the necessary mining software on the Internet.
Software download
To start mining, you need to download and install the software. This can be done through the “Downloads” menu.
You will be presented with a choice of xFast GUI Miner or xFast Console Miner. Select the appropriate version for your OS and click "Download".
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MinerGate software can be downloaded in the Downloads tab
Downloading mining software on MinerGate
Setting up mining MinerGate
In our review, we will look in detail at an example of setting up mining on MinerGate via a GUI miner. At the same time, setting up the console version of the software comes down to launching the application with certain command line parameters, including account information, currency and the number of processor cores used.
So, after the xFast GUI Miner program has downloaded, you need to log into your account. To do this, use the same account details as to log into the official website.
Mining program from MinerGate
The first place to start is with the Benchmark function
. Through this option, MinerGate will analyze your equipment and within a few minutes will display an approximate calculation of the profit you can count on.
Automatic profit calculation
To start mining on MinerGate, you can select the “Smart miner” option, which automatically determines the most profitable cryptocurrency for mining. To do this, go to the appropriate menu and click “Start Mining”.
The system will display details of the current mining process, where you can see the currency that is currently being mined, mining statistics of your processor and video card with the number of working cores, etc.
Smart mining setup
In addition, you can select a cryptocurrency for mining manually through the “Mining” tab. This tab seems complicated only at first glance. In fact, you can easily select which cryptocurrency to mine through the “View” menu, and you can also set a different number of capacities (cores) for each mining process.
It is important not to overload your device, otherwise it will not withstand such intensive work for a long time.
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It is recommended to allocate no more than half the power of your device to mining to avoid slowdown and allow efficient use of its resources.
In any case, to start mining you just need to click “Start Mining” in one of the columns – CPU or GPU.
Setting up mining on MinerGate
For stable mining, you just need to keep your device turned on. No further action is required.
How to work
Minergate is a service with constantly updated functionality, where new cryptocurrencies and methods for their extraction are constantly added. Below we will highlight a few key characteristics that will give you an overall idea of the project. We will not go into details, since everything may change by the time you read the article. After considering the main characteristics, you need to go to the site, study it yourself, register and choose a convenient way to receive cryptocurrency. Here are the main points:
- If you do not have start-up capital, then you can engage in cloud mining through one of the existing pools - special sections that can use the computing power of your PC to mine cryptocurrency. Everything is simple here: you go to the “Cloud Mining” section, select the available cryptocurrency and click “Start”. The process has begun and you can immediately track the result. If you want to improve your performance and don’t mind sacrificing a lot of computing power, download and run the stationary version of the miner.
- If you do not want to use the computing power of your PC or want to get more impressive profits, buy power and engage in cloud mining of one or several cryptocurrencies at once. The website has a special calculator that will help you calculate the approximate profitability. To get more realistic figures, we recommend subtracting about 30% from the indicated amount: part of the profit will be eaten by the commission and another part of the losses will be associated with the market situation.
- If you do not buy computing power, then the profit margin depends entirely on the performance of the processor or video card. You can earn more money with video cards, but you need to buy them separately - it’s expensive and not everyone can afford it.
- The service supports the smart mining function - this is when the program can automatically switch to the cryptocurrency that is most profitable to mine. You don't need to collect statistics or track any data. This mode is suitable for those who have not yet formed their own cryptocurrency portfolio and do not give preference to any specific list of coins.
- If you started work, but your proxy port does not see the video card, you need to configure the cli exe file, or another problem arises, then you need to contact technical support: find contacts, fill out the form and receive an answer within a few days. If you don’t like waiting, try finding the answer on the Minergate forum. This is a large community that was created in 2014 and where almost all the topics of the project are covered. Look for the link to the forum in the footer of the site.
Next is a video describing the main features of the Minergate service.
A brief overview of the Minergate service: registration, functionality, recommendations for choosing coins and operating features.
Warning! Do not use non-standard instructions that are widely distributed through forums or social networks. For example, you may be offered the following manual: how to make a hidden minergate miner. Agree - you will get an incurable virus and risk losing personal data or money. If you want more profit, better get acquainted with the affiliate program and find out what a loyalty token is. Cloud mining is not an area where custom hacker solutions are needed. Here, even with the permitted methods, it is dangerous, so it makes no sense to risk your money again.
Accrual of rewards on MinerGate
Mining pool on MinerGate
MinerGate users can receive 2 types of rewards:
- PPS – a reward is awarded for each share accepted by the pool for mining.
- PPLNS – the reward is awarded in proportion to your overall contribution to the mining process.
You can set the type of reward through the “Panel” menu. Here, for each cryptocurrency, the available options for calculating rewards for coin mining are displayed.
Choosing a reward system for Minergate
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When choosing an accrual system, the MinerGate team advises users with small capacities to give preference to the PPS system, but large miners who want to set up uninterrupted mining can choose the PPLNS system.
All earnings from coin mining are collected in the “Unconfirmed” block. This amount will be blocked for withdrawal until it reaches the minimum threshold, which differs for each cryptocurrency:
- For Bitcoin Gold – 0.001 BTG;
- For Zcash – 0.001 ZEC;
- For Ethereum – 0.000001 ETH;
- For Ethereum Classic – 0.001 ETC;
- For Bytecoin – 20 BCN;
- For Monero – 0.005 XMR;
- For Monero Classic – 0.001 XMC.
Once the minimum threshold is reached, the amount will be added to the current balance available for withdrawal. The amount of the current balance (confirmed) can be seen next to the name of the selected cryptocurrency. At the same time, the “Total Mined” block displays the total number of coins you have mined over the entire period. This amount includes confirmed, unconfirmed balance and profit from the affiliate program.
Types of balances on MinerGate
Withdrawals and commissions MinerGate
Minergate fees
As mentioned earlier, MinerGate withdrawals are only available after confirming your email address and enabling two-factor authentication (2FA). Therefore, if you have not done so before, now is the time to follow our instructions in the previous sections.
There are 2 withdrawal options on MinerGate:
- Transfer of mined coins. Using this option, you can transfer money from one MinerGate account to another. To perform such a transaction, click on the down arrow located to the left of the “Withdraw” button and fill out the form to send coins.
Transferring funds between internal MinerGate accounts
- Withdrawal of mined coins to Minergate. This is the standard option for withdrawing funds to a third-party wallet. Click on the “Withdraw” button, fill in the required fields for withdrawal of funds and wait for the coins to arrive in your wallet within 30 minutes. The duration of the withdrawal transaction may vary depending on network congestion.
Withdrawing funds to MinerGate
MinerGate commissions for withdrawing coins depend on the chosen reward system and range from 1% to 1.5%.
Commissions for withdrawal from Minergate
In addition, the option of withdrawing coins to a Freewallet wallet is available on Minergate.
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In this case, withdrawal of money is made without commission, and also does not require the accumulation of a minimum amount for withdrawal.
All you need to do is go to the “Withdraw” menu, click on the Freewallet logo at the bottom of the screen and fill in the information to withdraw coins. It is important to note that you do not need to create an account to withdraw to Freewallet; the system will automatically create an account for you on Freewallet after transferring funds.
Is it worth working through Minergate?
The Minergate service is suitable for beginners in digital currency mining who do not want to go through the complex process of setting up equipment. But before starting work, it is necessary to calculate its approximate profitability, since, depending on the market situation, cryptocurrency mining may be unprofitable.
Also, users should not expect to receive significant income from weak devices.
In general, the pool and its software are quite competitive and are not inferior to similar services, but you need to be prepared to contact support for the nuances of the work.
We hope you found this MinerGate review helpful.
We will be glad to see your questions and comments on this article. Great article 3
How to increase mining speed on MinerGate
Working with MinerGate
When spending their time and resources mining cryptocurrencies, miners naturally strive to get the maximum return.
On the Internet you can find a lot of “magic” tips on how to earn more money from mining, but it all comes down to a few simple truths:
- Purchase more powerful equipment. Your hashrate, and therefore the efficiency of mining, depends on the power of the equipment.
- Use all processor cores of your device. Here you should be careful not to damage the equipment. Some “craftsmen” often have video cards or processors burned out due to excessive overload. Therefore, if you do not want to be left without equipment, you should increase the power very gradually and with careful control, so that in case of overheating you can react in time and stop the production process.
- Parallel mining on several devices under one account. You can install the software on several computers, laptops or farms, run the miner and log in to each device using your account. Thus, you can significantly increase the productivity and efficiency of mining.
Advantages and disadvantages of MinerGate
Efficiency of mining on MinerGate
Like any other service, MinerGate has its strengths and weaknesses. Let's start with the good.
The advantages of the service include:
Simple user interface;
There are many cryptocurrencies available for mining;
Availability of your own software for mining.
Among the disadvantages of MinerGate are:
Low mining profitability;
The calculations of the profitability calculator do not correspond to reality;
Lack of mobile application for IOS;
Anonymity of project owners.
Minergate History and Team
The Minergate team
Very little is known about the MinerGate project team and the company as a whole. The official information says that the service is run by a group of crypto enthusiasts – and that’s all. The desire of companies to remain incognito always makes users a little wary and prompts various discussions and guesses about the roots of the company’s origin. Thus, a common belief is that the MinerGate team is part of the well-known company Changelly, which is trusted by many users. However, these are just rumors.
From the very beginning of its activities to this day, the MinerGate team has pursued a noble goal - to give the opportunity to try mining for every interested user, regardless of their level of knowledge, technical base, experience and size of investment.
The project's roadmap was in line with this goal, so the service began as a browser-based mining pool on users' own hardware, but after some time MinerGate also added cloud mining functionality. At first, this option extended to Bitcoin, and a little later to other cryptocurrencies.
