Grin is an open source cryptocurrency project based on the MimbleWimble blockchain that focuses on privacy and scalability. It aims to empower everyone to transact and also save modern day money without being afraid of external control or oppression.
One way to earn the coin is through mining Grin coin which this guide will focus on.
According to the team behind the cryptocurrency, its designed to be the currency of the future that will be used by all people regardless of where they come from.
What Exactly Makes Grin Coin Attractive?
It’s a new cryptocurrency that has no ICO which means no share is built-in as a reward for its developers or founders. Its also maintained by many decentralized developers. Its protocol defaults to private compared to a privacy coin like Zcash which defaults to public.
What Is Needed To Start Mining Grin Coin?
To mine Grin, new users will need both hardware and software resources to get started.
Here are a few cards that can be used;
Nvidia Cards: 1070, 1070ti, 1080, 1080ti, 2070, 2080, 2080ti
AMD Cards: 570, 580, Vega56, Vega64
Start by downloading a miner. Then find an overclocking tool; a good example is the MSI Afterburner that works well to regulate power and temperature. Then set up the configuration to ensure you have the best balance that will ensure you get optimum returns.
How To Set Up A Grin Miner:
1. Download A Miner:
2. Choose A Mining Pool:
Currently, three main pools have about 95% of all the Grin network hashrate. The three include F2pool with 47 percent, Grinmint with 20% and Sparkpool at 28%.
It’s recommended to try out different pools to ensure you distribute the hashrates more evenly.
As for the fees charged on each pool, F2pool has the highest percentage at three percent, Sparkpool charges a fee of one percent and Grinmint doesn’t charge any fees.
3. How To Set Up:
- If you are using windows, you will have to increase your virtual memory before running GGM. For example, aim for at least 7 GB of memory for every card on the rig.
- After downloading the GGM (from reputable sources), extract the file. Then run the GrinGoldMinerCLI.exe.
- Complete setting up the configuration.
- Ensure you enter your email on the mining pool of your choice. Also, make sure you enter a working email since you will need it in order to obtain payouts in some pools.
- Enter your rig name. If you have many workers ensure you differentiate them.
- Chose a strong password to use on the pool.
4. Start Mining Grin:
After you are done with the above steps, double click on the GrinGoldMinerCLI.exe. You should see a window that has the words ‘CONNECTED’ and ‘ONLINE’ in green. This means you have begun mining and you are doing it well.
To check your statistics, you can use your registered email address to log in on the website of each pool.