The early crypto adopters mostly gained crypto through mining. While you can invest in it through exchanges, but mining still remains a popular way to earn cryptocurrency. The best part is you don’t even need a full-fledged rig to do that, your gaming PC is enough.
Before we talk about how exactly you can mine crypto using your gaming PC, let’s talk about mining, in general.
What is Mining Cryptocurrency?
Mining is the process through which new cryptocurrencies are added to circulation. It’s also the process that helps confirm transactions for Bitcoin and other cryptos. Basically, mining involves solving complex computer problems with the use of specific hardware, and, in return, the owner of the mining computer may get some crypto as a reward.
In simpler words, you lend computing power to the system to authenticate and record transactions and for that, you may earn the cryptocurrency itself as a reward. This is how many early crypto millionaires earned Bitcoin by building powerful mining rigs that solved those complex problems and helped the blockchain.
How to Mine Crypto with Your Gaming PC?
Your gaming PC, even though quite powerful and expensive, may still not have enough power to mine cryptocurrency on its own. However, it can lend or share some of its processing power for the purpose.
For that, you’ll need a software called NiceHash. This software service basically pools processing power from different PCs to make a mining rig. Those in the pool get Bitcoin in return for contributing their PCs resources.
You don’t really have to do anything really, which is why it’s a great way to earn passive crypto income. You can set up the software, allocating the CPU or GPU for the purpose (GPU is better).
You can’t really do it with a normal PC that doesn’t have a dedicated GPU, so a gaming PC is necessary.
Here’s how you do it:
- First, register an account for yourself at the NiceHash website.
- Now, download the mining software onto your gaming PC.
- Log in to the software using the same account that you created earlier.
- Press the Play button to begin mining.
It’s as simple as that!
Tip: In the devices list, you should disable CPU, so the software only uses GPU for mining purposes. This is more efficient and less power-consuming than giving up your CPU for mining.
Now, you don’t really have to do anything as your GPU will be pooled with other GPUs to solve complex problems and help facilitate Bitcoin transactions.
How to Optimize Gaming PC for Crypto Mining?
Obviously, you would want your gaming PC to do its absolute best when it comes to mining, so you can earn more passive income. There are tools that you can use to tweak your GPU to run more optimally.
Similarly, optimizing power consumption for your PC can also help, so GPU draws less power from it and your PC runs efficiently.
How Much Can You Earn Mining Crypto with Your Gaming PC?
It’s important to have realistic expectations when it comes to passive income from mining crypto with your gaming PC. Ultimately, it depends on how much processing power you’re giving into the pool.
NiceHash has a profitability calculator that you can use to get an idea as to how much, in particular, your machine can make in a day. You manually enter your GPU and see how much you can make in USD in a day.
Payouts are made to the built-in NiceHash wallet, and the minimum balance for the payout is 1000 satoshi (0.0001 Bitcoin).
The good thing is that you can also hold the Bitcoins you earn from NiceHash in another wallet. Once you have the minimum payout amount in your NiceHash wallet, you can make the transfer to another digital crypto wallet. Some miners find third-party digital wallets more secure than the NiceHash wallet.
There are other platforms as well, like NiceHash, that let you pool your computer resources for mining Bitcoin. However, NiceHash is a legit and trustable platform. Don’t expect to become an overnight millionaire, as your earnings each day would be very minimal.
Nevertheless, it’s a great way to add some crypto passive income to your portfolio, especially if you have resources sitting idle on your gaming PC. Make sure you follow our blog to get more how-to guides on various subjects!