MinerGate Mining offers a platform that simplifies mining into a download and run solution. To put it simply, if you’ve ever thought about mining Bitcoin from your computer, the Minergate platform can help.
Considered one of the most user-friendly mining software, this multi-currency mining platform was created to serve those who may not fully understand the technicality in operating a mining software. The platform supports all the mainstream and not so well-known coins.
This review serves to deliver detailed information about MinerGate mining pool and help you decide if you’d like to enroll or not.
What we will cover in this review:
- What is MinerGate?
- How to mine with MinerGate
- What cryptocurrencies can I mine on MinerGate?
- What is the cost of mining; Fees and Pricing?
- Benefits of using MinerGate
- Notable Issues with MinerGate
What is MinerGate?
Pros: multi-currency support, no technical knowledge needed, fast operations
Cons: medium fees, low income
MinerGate is an advanced multi-currency mining pool that enables numerous users to connect their various devices to have a download and run mining experience. It provides an easy mining platform where users can access a downloadable software which enables them to start mining Ethereum and other digital assets.
How it works:
- Go to https://minergate.com/ and download the miner
- Choose the feature of regular mining or smart mining (smart mining means that the platform mines for you)
- Choose how much power you want to have in the pool
- Start mining
- Control and withdraw your earnings from the program
It creates an opportunity for those who do not understand the technicalities involved in mining to have a better experience with easy to use mining software, GUI miner. Users can reduce the normal hassles in the mining process to a simple one by downloading the program and running it on their computer.
MinerGate has a mobile app on Google Play, which enables clients to monitor mining activities on their smartphones from anywhere, 24/7. Minergate offers its clients various options to monitor mining pool performances; these include charts, tables, detailed information sheets about altcoin strength, specification, and weakness.
Clients will be able to maximize profit by choosing a combination of the best performing altcoins. Your earning power also depends on the capacity of your device, the stronger or faster your device is, the more you will earn, and vice versa. A normal computer may be good enough to start and be part of the mining activity but only generate enough returns to pay your electricity bill.
Your return will be only based on the amount of hashing power you are committing. There is a better opportunity to earn on MinerGate than other platforms that do not enable you to mine more than one cryptocurrency.
How to Mine With MinerGate
MinerGate is very fast and easy to use, here are the simples to take before you start mining.
- Register an account on their website
Go to the MinerGate website, https://minergate.com and sign up. This involves filling your email and password in a short form that opens as you click on the ‘Sign Up’ button on the top left-hand corner of their website.
- Go to the Dashboard and download the app
Now that you have created an account, you need to sign in to the dashboard and download your program.
- Choose the Processing Feature
The Benchmark feature allows MinerGate to assess your hardware to determine its capability.
- Start Mining
Now you are set to start mining. You may decide to choose particular crypto or just click the “Start Mining” button.
What cryptocurrencies can I mine on MinerGate?
There are several digital assets to mine on Minergate, both the popular and less known ones.
What is the cost of mining: Fees and Pricing?
MinerGate fees are mostly low. Cloud mining clients are charged only maintenance fees, which include resource cost and electricity cost. The maintenance fee is paid in US dollars after every 20 GH/s power purchased, the client will be charged 0.0066 USD.
Compared to the competitors, MinerGate minimum hash power purchase is higher. Some of platforms offer mining power from 1GH/s, Minergate offers 20GH/s. There is no maximum limit at which a client can purchase hash power, 1 million GH/s purchase can take up the full capacity of Hashing24 miners all at once.
Minergate offers two types of rewards to their clients; for the PPS, the pool fee is 1.5%, and PPLNS, the pool fee is 1%. Another reward is that fifteen days after registration, every user can mine Monero without paying any pool fee.
Benefits of using MinerGate
It is User-Friendly
Minergate is very intuitive; it is good for both new users and seasoned miners. If you are a beginner trying to start an investment in mining, this platform offers a friendly interface, which can not be seen with competitors. It involves a simple downloadable and easy to use interface that enables you to start mining on the go. All that is required for you to do before you start is a computer and an internet connection.
It offers CPU/GPU support that enables clients to access mining using various devices. It is possible for some clients to use smartphones for mining and some other person can use 4 graphic cards for mining. You can access the mining pool with any number of any devices and enjoy your mining.
It Offers Merged Mining
On this platform, the shares created for any of the CryptoNight currencies can be accepted for the other CryptoNight currency, so the shares you send can be recognized by both networks. This enables Minergate developers to mine two cryptocurrencies at the same time without the drop of the hash rate.
It has high security measures
Minergate has never recorded any case of hacking or stealing of the user’s data or coin. It is very safe to mine on this platform because clients’ accounts are covered with a 2-factor authentication process for protection. All you need to do is to get a password, and generated a mobile code that expires in 30 seconds. If you are planning to mine on this platform, please do the 2-factor authentication to ensure your fund is safe.
It is Affordable and Profitable
It offers a mining service that enables miners to mine bitcoin with quality hardware that features ASIC technology which is the best in the industry. Clients can choose their hash rate to maximize profit. Minergate provides support for users to increase return on investment, t offers a wide range of products for clients to choose from, 99.97% uptime and very reasonable pool fees.
Notable Issues with MinerGate
Though there are many benefits and helpful features, Minergate, like any other system, has been identified to have some challenges which negatively affect its clientele. Some of these issues are complaints from users or those who took their exit from the platform because of all these challenges.
- Clients complain about the delayed response from the support team.
- The same complaint goes for the chat moderators on MinerGate official website, they are noted for mocking newbies or banning those who ask for help.
- Only bitcoin mining pool is available
- The minimum purchase limit is 20GH/s, new users need to commit this just to try the service.
- Withdrawals are available from 0.01 coin
- Clients may lose reward if they suddenly stop mining
- Users complain of losing so much of their earnings on fees
Updates/Developments – 21 November 2019
In summer 2019, Minergate released its’ royalty token – the MinerGate token. The founders aimed to create a token that will connect the whole community and positively engage them in the projects’ life. By reaching out to the contributors and asking them how to improve MinerGate services and platforms, the company managed to create something that they are proud to call a success.
Whether you’re a newbie or a veteran miner, interested in trying out connecting to a mining pool, Minergate can offer many benefits for your cause. Remember to be cautious when approaching new services. Read more about internet safety and dive into mining with no required knowledge or mining equipment.
Frequently Asked Questions
- How can I withdraw my earnings from mining activities?
After setting up your account, you need to add an authentic bitcoin wallet address to your account to receive your reward which is paid in bitcoin only. Your coin will be delivered straight to your wallet.
Open the downloaded program and go to the preferred coin wallet. You’ll see a huge Withdraw button that you can press and follow the instructions after.
- How much can I earn daily from my investment?
That depends on how much you have invested and the hash power you purchased. You can use Minergate calculator to get an approximate view on what your earnings might look like after some time.
- How can I ensure my account is protected?
Set up 2-step verification and go through every security measure that the platform has to offer. Keep your earnings in control and manage your cryptocurrency wallets all the time.
- How can I set up 2-step verification to protect my account?
Sign on to your account, go to profile, click the “Enable” button that is under the 2-step Verification section.
Download the authenticator app on your smartphone, it is available for Android and iOS users.
Type in the key manually and scan the QR code
Enter the password and the code from your phone’s app, and that’s it.