- Mining on old video cards: is it possible and profitable?
Video cards are constantly improving and becoming more productive and energy efficient. This causes older models to become obsolete and lose their relevance for mining. However, this does not mean that they become useless and unusable for mining cryptocurrency. On the contrary, they can be used to mine alternative coins that have lower complexity and competition.
Advantages of mining on old video cards
- Mining on older video cards has a number of advantages over mining on newer ones:
- Low cost. You can buy old video cards for little money or even get them for free from acquaintances or flea markets. This lowers the entry threshold for novice miners and reduces the payback period of the equipment.
- Low risk. Mining on old video cards does not require a large investment and is not associated with a high probability of breakage or loss of equipment. If the video card fails or stops bringing in income, losses will be minimal or zero.
- Eco-friendliness. Mining on old video cards promotes the reuse of e-waste and reduces its negative impact on the environment. Instead of throwing away or storing unwanted video cards, you can give them a second life and make a profit.
What cryptocurrencies can be mined on old video cards?
Mining on old video cards is suitable for those cryptocurrencies that use algorithms that do not require a lot of processing power and memory. Such algorithms are called ASIC-resistant, which means they are protected from specialized mining devices (ASICs), which have an advantage over regular computers.
- Some examples of such cryptocurrencies are:
- Monero (XMR). This is one of the most popular and anonymous cryptocurrencies that uses the RandomX algorithm, which is optimized for processors. Monero mining on video cards is also possible, but not as profitable. Older video cards can give up to 500 H/s when mining XMR.
- Ethereum Classic (ETC). This is a fork of Ethereum that kept the original Ethash algorithm, while Ethereum switched to the new Dagger-Hashimoto algorithm. ETC mining on video cards yields roughly the same results as ETH mining but with less complexity and competition. Older video cards can give up to 15 MH/s when mining ETC.
- Ravencoin (RVN). This is a cryptocurrency that uses the X16R algorithm, which consists of 16 different algorithms that change in random order. This makes RVN mining ASIC-resistant and suitable for video cards. Older video cards can give up to 10 MH/s when mining RVN.
How do I start mining on older video cards?
- In order to start mining on old video cards, you need to follow these steps:
- Choose the right cryptocurrency and algorithm to mine. Take into account the complexity, price, prospects, and competition.
- Choose a suitable mining pool that provides mining services for the selected cryptocurrency. Compare commissions, stability, reputation, and feedback from other users.
- Download and install a suitable miner that supports the selected algorithm and video card. Set up the parameters of the miner in accordance with the instructions of the mining pool.
- Launch the miner and start mining cryptocurrency. Monitor the statistics and profitability on the website of the mining pool or in special applications.
Mining on old video cards is a real opportunity to earn on cryptocurrencies without big investments and risks. To do this, you need to choose a suitable cryptocurrency and algorithm, choose a reliable mining pool and set up a miner. In this way, you can give a second life to your old equipment and make a profit.
- Cryptocurrency traders made money on shorting TUSD stablecoin
- One of the largest Bitcoin mining centers will be built in the Himalayas
- Token raised $300 million project SUI will place all the major cryptocurrency exchanges
- "The decision may come as a surprise." What awaits Bitcoin after the Fed meeting
- The Future of Cryptocurrencies: What are the Benefits of Decentralized Finance
- Coinbase cryptocurrency exchange is being sued for insider trading
- U.S. first guilty verdict in NFT insider trading case