How to Mine Smartcash
If you are searching high and low for a socially oriented cryptocurrency, which takes care of its community – you’ve come to the right place. If you consider also to mine Smartcash (SMART) we will provide you a comprehensive step by step mining guide.
Before you start you should know: …more
- What Mining Hardware to use
- Which SMART Mining Pools to join
- How to setup and configure your Equipment
Cloud mining is always optional and recommended for those of you, who do not want to deal with hardware and software configuration – go to the could mining section for some more details.
Why You Should Mine SmartCash
All the features SmartCash offers are what make it such a good cryptocurrency to invest in. The goal is to reuse addresses, without revealing the transaction history. Also, you could skip the 3rd party payment processor by having a physical card that safely encrypts and stores your private key. In addition to that, the choice of multiple SMART wallets gives you the opportunity to find the most convenient one. There’s also an option for instant pay and 24h support center. We must point out that the core is upgrading for a faster syncing, the blocks are adaptive, and the explorer is upgraded to improve user’s GUI.
The team has lots of partners, such as CoinPayments, Send Smart via email, TipBot or Kamoney. Its projects are Smartie Shop, Smart Statistics, Discover Smart, SmartNodes, SMART Library Branch, SmartRewards and SmartNode MonitorBot (also via SMS).
All that we’ve mentioned so far, guarantees you a profitable SmartCash mining process and the return on your investment. So, let’s begin the mining.
Best Way to Mine SmartCash
SMART can be mined with profit, by using GPU (both Nvidia and AMD) miners. It’s recommended to use the Nvidia one, because their performance is better for the Keccak algorithm used by SmartCash coin. There’s an option for solo mining via the CCminer and the SGminer, which can be a profitable mining method, but it’s not usually recommended. It’s way more difficult and it means you’ll have very long periods without income. Conversely, mining SMART in a pool can give you steady income with regular payouts, even if the miners split the reward proportional to their hash rate.
What You Need to Start Mining SmartCash
First of all, choose the best SMART mining hardware you can find. All the other requirements in mining have to do with the Internet connection, which should be stable, with low latency and unlimited traffic. Another important requirement is to create a wallet to collect your coins in. There’re multiple choices of wallet on the official page of the project. All other requirements depend on the GPU hardware you’re going to use in future.
To summarize the requirements:
- Best GPU hardware – preferably Nvidia
- Compatible Mining Software
- Stable and fast Internet Connection (1MB/s or faster)
- A SMART Wallet to receive your mined Coins
What Else You Need to Consider
As for the SmartCash mining hardware, you should be prepared for the noise and heat generated by the machine. Cooling is of great importance for your equipment. For it to work properly, you have to consider having a good ventilation system and some fans. About the noise, it’s not completely low, but compared to an ASIC one, it’s not that bad. But you have to remember that the proper functioning of any device requires its proper maintenance – frequently cleaning off the dust and the ventilation system is key for proper working.
Check our article to find detailed information on solutions for such and other problems concerning your mining gear: (Ventilation, noise and cooling solutions for your hardware).
Now, let’s talk about the wallets. You should visit the official SmartCash website, where you’re can see the version of the web wallet, proposed by the development team. There’s also a desktop wallet which could be installed and set up on a Mac OS, Windows, Linux, and a mobile version for Android. The company of the project provides the opportunity for a 3rd party wallet which means you need to trust the vendor’s server to know if the payments were sent or received. Vendors working with SmartCash are Coinomi and Ethos. There’s also the option for a paper wallet, the more secure solution to stock your coins, and there’s also Brain Wallet. The last one means that you’re able to hold coins in your own mind by memorizing a mnemonic recovery phrase. But bear in mind that if a brain wallet is forgotten or something happens to the owner, the coins are lost forever.
Here you can download the official wallet: (Official Wallet Link)
Best Hardware Choice to Mine Smartcash
We should note that SmartCash uses the Zerocoin protocol and the Keccak algorithm for Proof-of-Work consensus. NVIDIA hi-end cards have proven to beat any AMD card in the competition of mining Keccak algorithm.
That’s not to say you can’t mine with AMD, because you can, but any NVIDIA 1080Ti will beat anytime whatever AMD card you’re trying to use, in terms of hash rate.
Here’s the current top 3 GPUs needed for mining SmartCash:
Recommend Smartcash GPU Mining Hardware
Once you know the price and performance of each GPU miner, you can compare them with the help of our calculator.
Using the information from the table above and our Siacoin mining calculator you can easily calculate your approximate profitability.
Keep in mind that the results from the calculator are based on variables such as difficulty and coin price.
Setup Hardware and Software / Configuration
It’s time to move on to the technical part of the process. Do not worry as we have presented everything you need step-by-step.
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01. Choose a Mining Software
You need to choose the right SmartCash mining software:
We recommend using CCminer with Nvidia graphic cards.
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Step 2. Pick a Mining Pool
Speaking of pool mining, you should start by registering yourself on the official website. As you can see there are 3 official mining pools, so your choice should be based on the nearest location.
Smartcash EU
.Server locations:
.Reward system: PROPAverage fee: 0.0%Our choiceSmartcash Asia
.Server locations:
.Reward system: PROPAverage fee: 0.0%Smartcash US
.Server locations:
.Reward system: PROPAverage fee: 0.0%Choose a mining pool and register your account in their website if its required.
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03. Before You Start Mining, You Will Need a Wallet
If you haven`t got a wallet to store your coins in, the best option is to download the official SmartCash wallet from the website or to visit our wallets page.
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04. Configuration of the Mining Software
Here we’ll show you how to configure your SmartCash miner and start mining.
As we’ve mentioned, for the best profitability you need to download CCminer and to use high-end Nvidia GPU`s. After downloading and extracting the miner software, you will see the extracted files in the folder:
To do this, right click inside the folder and create a new text document. Notepad is going to start and ask you to name your file. ChoChoose a proper name and leave the document empty.
Copy and paste the entire command line into the empty text document.
ccminer -a keccak -o stratum+tcp://eu-mine.smartcash.cc:3256 -u SMARTCASHADDRESS.WorkerName -p x
From there you just replace SMARTCASHADDRESS with your wallet address and WorkerName with the name of your worker.
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05. Save the File and Start
Now go to ‘Save as’ and write .bat at the end of the title, no matter what you called it. In our example it would be SmartCash.bat. Save the file as available to be read in all types. Double click the newly created file and your miner should be working. This is how it should look like:
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06. Configure the Miner to Start Automatically
The easiest way is to drop a shortcut of the mining software start.bat file in your system startup folder 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’
If your SMART miner is already running, you can read our guide for hardware and software optimization. You can read useful information from our experience of mining for SmartCash with the best possible hash rate.
SmartCash Cloud Mining
That one is popular as an alternative solution for those who don’t want to deal with buying an equipment and annoying electricity bills. In that case signing a contract with a provider, who’s using their personal resources for your SMART mining demands, might be what you need.
The cloud mining service offers many advantages such as:
- 01. Mining with external equipment
- 02. Immediate results
- 03. No heat or hardware to maintain
- 04. Payout in different cryptocurrencies
If you’re interested to learn more about cloud mining, check our web site: (Cloud Mining).
SmartCash Calculator
The expected future SmartCash profit from the mining process is an important element you want to be aware with even before you start the process. Moreover, it’s very easy to see how profitable mining SMART actually is. The SmartCash Mining Calculator estimates the amount of coins you are able to mine for a certain period of time. You can use the calculator tool by inputting all the parameters like the hashrate of your mining rig, hourly power consumption of it, pool commission percentage (the pool which you are going to join in the mining), difficulty of the network, block reward and the current price of SmartCash. Just click calculate and it will summarize the hourly, daily, weekly, monthly and yearly profit of the whole mining setup. It will also show you how much time, in days, it will take even, taking into account your SMART hardware costs or contract costs.
You can check our mining calculator here: (Mining Calculator).
FAQ
How long does it take to mine 1 SMART?
Depends on your GPU card. For example, if you’re using a Nvidia GTX 1080 ti, it will take you about 5 days to mine 1 coin.
How many SMART you can mine in one day?
If following the example from the last question, it seems like about 0.28 coins per day.
Is it worth mining it?
Yes, it is. Тhis can be confirmed by our Mining calculator
How can I calculate if it’s profitable?
You can check out the link for our SmartCash mining calculator.
Can I mine for free?
You should look for a mining pool with 0% fees, free mining equipment and free electricity.
Why actually mine the SmartCash coin?
In order to gain profit every day.
What is Smartvoting?
a pioneering governance space, where SmartCash users propose improves of the project. .
What is Smartrewards?
A price stabilization mechanism to encourage long term holding of SmartCash coins.
What is Smarthive?
An opportunity to get involved – a place for forks of all backgrounds.
About SmartCash
As we mentioned earlier, SmartCash (SMART) is a cryptocurrency focused on the community. In this regard 70% of the block reward is allocated to fund the SmartHive community proposals and team. 30% of the remaining block reward is allocated to mining (5%), SmartRewards (15%) and SmartNodes (10%).
SmartCash is forked from the Zcoin project and launched very recently. It’s a full-proof blockchain for sectors like manufacturers, suppliers and other B2B services. Also, it’s the first blockchain for both businesses and individuals. In the SmartCash portal, you’ll be able to categorize and search all services and products you need. It is also a currency which can be mined, yet it uses an ASIC-resistant algorithm to prevent mining centralization.
The solution to the biggest Internet problem – fake reviews, resides in Smartcash. Running the RSM algorithm, both sellers and buyer get evaluated and rated in the blockchain.
SmartCash Team
Behind every good project stands a good team, right? So, the SmartCash project aims to create a decentralized team structure. The team has several hive departments – development, outreach, support and web. There are plenty advisors and experts working to improve the SmartCash network.
As we said, the teams are focused on community building, growth and supporting applications.
SmartCash Hashing Algorithm
Keccak is known as SHA-3 (Secure Hash Algorithm 3) and currently it is the latest generation secure hashing algorithm released by NIST (National Institute of Standards and Technology). The Keccak algo relies on the sponge construction, which represents a wide random function (permutation) inputting and outputting data, while acting as a pseudorandom performant.