How to mine Bitcoin Gold
Bitcoin Gold is a newly created hard fork of Bitcoin, that allows you to mine it with GPUs. To be able to maximize your profit you should use up-to-date hardware and software and follow our easy to follow BTG mining guide. Let´s see the key parts of how to mine Bitcoin Gold, which we’re going to cover: …more
- Suitable Hardware for Equihash Algorithm
- Configuration of devices and software
- What Mining Pools to join
You can also use the cloud mining option. By doing this, you aren’t required to buy BTG mining hardware and search for a place to run it. Check more information about that in our cloud mining section later in this article. Let’s get to work, now.
Why should you mine Bitcoin Gold?
Bitcoin Gold is a GPU minable cryptocurrency, that will remain ASIC-resistant for the future. The community’s mission is to prevent such powerful machines from operating on their network. These light changes to the algorithm make it resistant to attacks, profitable and safe to mine. Another plus to this crypto is the option of switching between many GPU mineable altcoins. Its algorithm can be mined with many different cards, all of which you can use for other coins, should you so choose in the future. Convenient, isn’t it?
What’s the best way to mine Bitcoin Gold
To make real money you should consider building a Multi-GPU Rig (they give top results when dealing with Equihash algorithm) and afterwards, join a mining pool. The reasoning for which, is that when you combine your rigs’ hash power with that of other participants, you can mine blocks with quite the speed. This leads to frequents payouts in a shorter period of time.
After covering the best way to mine BTG coins, let’s continue in more details. Our experience shows that any piece of information comes in handy at a given point.
What do you need to start mining Bitcoin Gold
Considering our experience in the field, plus the constant information updates, we’ve come to the following conclusions: Mining for Bitcoin Gold, or any other Equihash coin, is currently best-done using GPUs, namely Nvidia GTX ones. To get started, we recommend you build a rig of at least 6, otherwise you’ll be wasting your time and money. Further to that, you need to supply said hardware with an internet connection that’s reliable. 24/7 access to the blockchain is mandatory, as you need to remain updated and submit your calculations constantly. Finally, you’ll need to create a wallet to hold and operate your coins with. We generally recommend the official ones for beginners, but if you have other options, feel free to use those as well. To summarize:
- BTG mining gear setup
- Reliable internet with 1MB/s up and down stream
- A Bitcoin Gold Wallet ro receive your Coins
What else you need to consider?
One of the key factors to consider is your electricity consumption – one card can draw from 110W to 210W. If you plan on setting up multiple Bitcoin Gold mining rigs, you’ll need to calculate your power grid capacity and how to go about connecting them all.
The noise and heat produced by the BTG mining hardware are also issues that need to be addressed. To help you do that, we’ve compiled a detailed troubleshooting guide on our dedicated page Ventilation, noise and cooling decisions for your hardware.
If you’re not willing to bother with hardware and software configuration or just don’t want the added electricity and cooling expenses, you can always opt for cloud mining.
Which Bitcoin Gold Mining hardware to buy?
Bitcoin Gold uses Equihash mining algorithm and to get the best profitability out of it, we recommend using Nvidia graphic cards. We published a list with few GPU`s and the important parameters, in relation to mining for BTG:
Recommended Bitcoin Gold GPU Mining Hardware
Setup hardware and software
When you are done with assembling your hardware you can go through the steps of setting up your software:
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01. Pick a Mining Software
To mine Bitcoin Gold, you will need the right software. It will connect your mining equipment to the network and/or mining pool.
Here is a list of Bitcoin Gold compatible mining software:
- EWBF Miner – compatible with NVidia graphics cards for Windows and Linux
- Claymore’s Zcash/BTG Miner – compatible with AMD cards for Windows or Linux
- Optiminer – compatible with AMD cards for Linux of Windows
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02. Choose a BTG mining pool
There are a lot of great pools out there. Pool fee and reward system are the key parameters that will define your choice.
Here is a list with the ones we can recommend:
btg.2miners.com
Server locations:
Reward system: PPLNSAverage fee: 1.0%Our choicebtg.suprnova
Server locations:
Reward system: PPLNSAverage fee: 1%btgpool.pro
Server locations:
. . .Reward system: PPLNTAverage fee: 1%If you want to learn more information about the different pools, reward systems and fees, visit our web page for mining pools.
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03. Configure the Software with your Wallet
Before you start mining this coin, you will need a wallet. Here are the compatible wallets you can use:
- Trezor (hardware)
- Ledger (hardware)
- Exodus (desktop)
- Bitcoin Gold Core Wallet (official desktop)
Enter your wallet address and a the pool address into the Bitcoin Gold miner configuration string.
Configuration example:
In this case, we’ll give you an example of how to enter your wallet and pool address into miner configuration string. In both examples you need to edit start.bat file with a text editor.
Here is a configuration example of the EWBF Cuda miner for Bitcoin Gold on Windows x64.
Miner.exe –server btg.pool.minergate.com –user YOUR_LOGIN –pass x –port 3257This is a configuration example of the Claymore ZecMiner for Bitcoin Gold on Windows x64.
ZecMiner64.exe -zpool BTG.pool.minergate.com:3257 -zwal YOUR_LOGIN -zpsw x -i2 -allpools 1 -
04. Run the bat file and monitor the screen for a miner feedback.
If you see hash rate then everything should be working.
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05. Put the mining software on the auto startup
– For Windows:
Drop a shortcut to the mining software .exe file in your system startup folder if you’d like to auto-start when Windows boots up. You can find the system startup folder in Windows 10 by going to: Start > Run and entering ‘shell:startup’.
After the hardware is up and running, you can think about optimization. You can view our detailed guide in the hardware optimization page.
From now on all your income is sent directly to the wallet entered in the BTG miner configuration.
Mining in a small pool or creating your own pool is possible but not recommended. Big pools give you steadier payouts. Solo mining can give you bigger reward if you are lucky and find blocks often. Luck is significant factor when speaking of solo mining or small pools especially in the short run.
If you want to learn more visit our pages for solo mining and creating your own Bitcoin Gold mining pool.
Bitcoin Gold cloud mining
Cloud mining is best alternative for people, who don`t want to buy hardware equipment, don’t have suitable place to run it or don’t want to think about electricity cost and cooling.
All you need to do is purchase a mining contract with a service provider and have a compatible wallet where you will collect your earned coins.
You need to get to know some important things before you start, namely, how to:
- 01. Choose a reputable cloud mining provider;
- 02. Define the right mining algorithm;
- 03. Decide on the amount of hashing power you want to rent;
- 04. Analyze contract conditions and draw the line cost to benefit
For more detailed information please visit our dedicated cloud mining page where you will get all the needed knowledge and guides as well as a comparison between different cloud mining providers.
Bitcoin Gold Calculator
This is other way to answer the “Why mine BTG?” – simply calculate your future profits. Just go to our Bitcoin Gold mining calculator. To use this clever tool, you need to enter the hash rate and power consumption of your equipment. Also, enter the electricity price for KW/h and the pool fee.
The Bitcoin Gold network difficulty, block reward and coin price will be added automatically to the calculation. Isn’t that convenient? The result will show the estimated profitability based on your equipment by day, week, months or years.
Disclaimer: Remember that network difficulty is constantly changing, and coin price can be volatile so the results from our calculator apply only for the moment of calculation.
FAQ
Which algorithm is used in Bitcoin Gold mining?
Bitcoin Gold is using Equihash hashing algorithm.
How long does it take to mine 1 Bitcoin Gold?
That depends on the hash rate of your equipment or cloud mining contract. Knowing how much your hash rate is, you can use our mining calculator to calculate it.
The higher your hash rate, the faster you will get 1 BTG, it’s so easy.
What do I need to start mining?
You can start using even a single video card, but only for testing purposes, as it´s not worth mining with such a low hash rate.
How can I sell my Bitcoin Gold?
Most of the exchange markets support Bitcoin Gold pairs which offer the opportunity to exchange it to USD, BTC, ETH or others. Visit our dedicated exchanges page where we have a detailed review of the most popular ones.
What is the total supply and the max supply?
The total supply is the total amount of coins in existence right now. The maximum supply is the maximum quantity of coins that will ever exist. This is determined at the very beginning of each project.
What is the limit of Bitcoin Gold?
Following the main idea of the Bitcoin project, the limit is the same and their maximum supply is about 21,000,000 BTG.
About Bitcoin Gold
Bitcoin Gold is a new cryptocurrency that appeared first on October 25, 2017. It´s formed after a hard fork of the Bitcoin Blockchain and the main idea is to make Bitcoin mining decentralized again. It uses the proof of work algorithm Equihash and being ASIC resistant means the mining can be done only with GPUs.
Roadmap: https://bitcoingold.org/roadmap-2018
Team: https://bitcoingold.org/team
Web site: https://bitcoingold.org