How to Mine Ubiq
If you are interested in Ethereum forks, then you probably heard about Ubiq (UBQ). It’s an open-source, peer-to-peer decentralized currency. Similar to Ethereum, however, the target audience differs. This coin promises stability and aims for bug-free upgrades. Mining UBQ is an exciting profit opportunity. In this article, you will find an easy step-by-step guide on how to mine Ubiq. Here is what’s included in it: …more
- Choosing the best mining hardware compatible with the Ethash algorithm – GPUs
- How to configure your devices and the software required
- Which UBQ mining pool to join and how
Ubiq, as with most other cryptos, has another option for mining – cloud mining. We’ll explore the different aspects of that method further down in your article. Keep on reading and find out whether UBQ is the coin for you to mine.
Why to mine Ubiq?
Ubiq acts as a platform and has tokens too. Made possible, due to being an Ethereum fork. This coin is practically built upon the proven ETH codebase. Mining for Ubiq is profitable. Also, the coin itself is easy to use and provides one click solutions for you. It maintains a single dashboard, from which you can reach all your hives and monitor them. Use UBQ to track your everyday performance and access maintenance features with a single click. Being hosted on a cloud, the dashboard can be reached from everywhere at any time. This coin recognizes the visitor and gives the person access to the proper network (if you are a guest, you will be connected to the guest network).
What is the best way to mine Ubiq?
First check which algorithm is used by the coin. At the time of writing this article, Ubiq is using Ethash. The community plans to fork to a new version which will break the compatibility with existing Bitmain’s E3 ASIC miners. This is good news for those of you out there, interested in UBQ mining but not willing to invest in expensive ASICs. Furthermore, stimulation of GPU mining translates to higher adoption rates, as the supply of video cards is much greater. GPU rigs are the most profitable option for Ethash in this coin’s case.
To increase your profits, we recommend joining an Ubiq mining pool. By combining your hashing power with that of others, you’ll be able to earn rewards more frequently and thus increase the amount of earnings in total. We can’t advise you opt for solo mining, as it’s highly dependent on luck and even though you won’t be splitting the rewards, you’ll end up losing the end game.
What do You Need to Start Mining Ubiq?
First and foremost, you need proper hardware. As we mentioned earlier, the best way to mine UBQ is using GPU rigs. To use them however, you would need to connect them to the internet. Reliability is a key factor, as you need to be in constant communication with the blockchain. No internet equals no profits. In that line of though, once you’ve earned rewards, you would need a wallet to hold them. We recommend using the official one for starters.
To summarize, all you need is:
- Mining hardware – GPU rig
- Reliable 24/7 internet connection
- Unlimited traffic is preferable
- Wallet to access your coins and operate with them
What Else You to Consider?
Once you’ve acquired the needed hardware for the job, there are some other factors to consider when mining Ubiq. First thing’s first – power consumption. Depending on how many GPU rigs you want to set up, you might need to make sure that your power grid can handle the draw, without issues.
Furthermore, you have noise, heat and dust. Compared to ASICs, the situation with GPUs isn’t that bad, but we do recommend you take those issues into consideration. To help you deal with them most effectively, we’ve written an article containing many different tips from our experts, based on their own experience and research. You can find it at the link.
- In a word, pay attention to:
- Noise and heat
- Proper maintenance
- Power capacity of the electric network
Which Ubiq Mining Hardware to Buy?
Your profitability depends mostly on the performance and efficiency of your UBQ mining hardware.
The values of interest, when researching for mining devices, are the hash rate and power consumption of the Ubiq mining hardware. Their price is also important when it comes to calculation of ROI (Return of Investment).
Here are our suggestions for top results when mining Ubiq:
Recommended Ubiq Hardware
These are the things you should look for and pay attention to when the time for buying hardware has finally arrived. The machines with higher hash rate will help you mine faster, but they are expensive and will require more electricity, which will be the cause of higher bills for you to pay. If you are into mining, it is worth investing in the latest hardware available.
These parameters are used in the Ubiq mining calculator as well, but we will discuss it later in the article.
Software and hardware setup and configuration
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Step 1. Choose a mining software
You need to choose the right Ubiq mining software and we will give you a short list with the most popular ones, when speaking of Ethash mining:
- Claymore`s miner – for Windows and Linux
- Ethminer – for Windows and Linux
- Phoenix miner – only for Windows
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Step 2. Choose a mining pool
When you come at the point to pick Ubiq mining pool, take under consideration the fee and the reward system.
ubiq.minerpool
.Server locations:
–Reward system: PPSWAverage fee: 0.25%Our choiceubiqpool.io
.Server locations:
–Reward system: PropAverage fee: 0.75%ubiq-pool
.Server locations:
–Reward system: PPLNSAverage fee: 1%You can find detailed information on the types of pools and their reward systems in our specialized guide.
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Step 3. Before you start mining, you will need a wallet.
We recommend collecting your coins in official wallet of UBQ. If you want to understand and other ways to store coins and different wallets, visit our page.
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Step 4. Configuration of the software
When you configure the miner string, you need to enter the address of the pool and that of your wallet. To set up your UBQ miner on windows, first you need to download the current software. We recommend to mine the Ubiq with GPU`s and Claymore Miner software. Then download Claymore Miner, unzip the file and edit “start.bat” with these configurations:
EthDcrMiner64.exe -epool ubiq.hodlpool.com:8009 -ewal
-eworker -epsw x -esm 0 -allcoins 1 -
Step 5. Save and run the process.
After that, you will see something like that on the picture below. On the black screen you will see the available GPUs and their current hash rate.
A screenshot with the results of the Ubiq GPU miners.
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Step 6. Make the mining software to start automatically
Drop a shortcut of 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’
If your Ubiq miner is running, you can view our guide in the hardware optimization section. There you may check some useful information of our experience of mining Ubiq with more hash rate. From now, on all your income is sent directly to the wallet entered in the miner configuration.
Ubiq Cloud Mining
This process is based on outsourcing UBQ mining to a third party. Some of the best providers for Ubiq are NiceHash and MiningRigRentals. You basically pay them a fee and they mine for you. By going with this option, you’ll avoid the hassle of setting up hardware, software and paying for electricity bills. Heat, dust buildup and noise will be things you won’t have to concern yourself with. While it all sounds great, we recommend you do a thorough research. Check carefully the reputation and rating of each cloud mining provider. We can help you with that as well, because we know how confusing and time consuming this might be. In our Cloud mining webpage, we have made a one stop shop for everything you need to know. We update it regularly, so you are hand in hand with the latest buzz.
Ubiq Calculator
This nice invention will help you see where your coin stands for the moment. Is mining worth it and how much can you earn. Data that you’d need to enter includes hash rate, pool fee and electricity cost. You should get a rough estimation about your profitability per day, week, month or year.
Disclaimer: As we mentioned earlier, the results are true for the time of pressing “Calculate”. All the numbers are variables and they change within minutes sometimes. The results are not constant.
FAQ
How long till you see results in your wallet?
It depends on your hashrate and your payout threshold. You can get 1 Ubiq per day with one AMD RX 580 GPU.
Is it possible to mine at Raspberry Pi?
Yes, its possible but pointless. You won’t be making a profit any time soon and your earnings would be miniscule.
Which algorithm is used in Ubiq mining?
UBQ uses Ethash crypto algorithm.
How do I know how much I will earn?
Here the defining feature is your hash rate. For more detailed info use the Ubiq mining calculator.
Which hardware to use for Ubiq mining?
Short answer – GPUs, jump to our hardware section where we’ve covered it in detail.
Is it legal?
Some countries are wondering what to do with it and they don’t allow it to be used as a payment tool – Thailand, Indonesia and Vietnam. Mining in Bangladesh, Nepal, Macedonia, Ecuador, Bolivia and Algeria is illegal.
About Ubiq
This coin is an improved version of Ethereum with better solutions for many implementations. It allows businesses to use Ubiq’s platform for decentralized Applications (Dapps). It is stable with no form of ICO whatsoever. Its ecosystem welcomes customers to build today, not worrying about tomorrow. The network benefits from applying the standard EVM.
Ubiq team
Ubiq Technologies Inc. started with 5 members in 2017. They have been swimming in the ocean of crypto for several years. All of them are gurus in different aspects of cryptocurrency and the combination of all 5 fits perfectly. UBQ’s crew function based on their variety of expertise like math, programming, fintech, and economics. Those are some of the formed departments as well, supported by marketing, administration and accounting.
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