Ethereum is a decentralized, open-source blockchain with smart contract functionality. [ETH] is the native cryptocurrency of the platform. Currently after Bitcoin, it is the second-largest cryptocurrency by market capitalization.
Ethereum is the most actively used blockchain in the world today and has been tipped to one day flip Bitcoin for top spot by market cap.
A big factor in its popularity is that it can be mined at home on a decent PC with a 5GB+ GPU.
How do I mine it?
There is multiple miners and pools which you can use to mine Ethereum. For this tutorial I am using Phoenix Miner 5.5c and will be mining on 2Miners ETH Pool.
I have pre configured Phoenix Miner 5.5e with the pool settings for 2miners. so all you should need to do is put an Ethereum payment address in the settings.
Download Phoenix Miner 5.5c
Windows defender, or your antivirus may show the file as a virus. This is common for mining software as it is resource heavy. Create an exclusion to allow Phoenix through your antivirus.
The downloaded file is compressed so you will need to unpack it.
Once unpacked you will see a folder inside, open it.
Right click on the start miner batch file and edit with a text editor. I use Notepad++, but any text editor should work.
On line 13 edit the ETH payment address to your own address. You can also edit the Ryzen-PC to whatever you want to call your mining rig, Just remember the full stop between the address and the rig name.
The name isn’t important, it doesn’t have to be Ryzen or intel etc. Its only so you can identify different rigs online if you have multiple devices.
Now Double click the start miner batch file to start the miner.
A CMD window should open and your PC will start mining.
Now head over to 2Miners Ethereum pool, enter your wallet address and you should be able to see detailed mining stats.
2Miners pay out to your wallet address once you mine 0.05ETH.