Given the latter, it is worth an explanatory parenthesis. While HoneyMiner makes life easier for those who enter this world of cryptocurrency mining, it is necessary to know both advantages and risks that we can find when mining. For this, we have given ourselves the task of leaving you some tips that you can take into account to decide if it is convenient (or profitable) to carry out this process.
On the other hand, let's talk a little about what HoneyMiner is. This application has been active since July 2018 and specializes in the field of cryptocurrency mining. Interesting thing about this software is that when you start, Make a scanner of your equipment and determine which is the most profitable cryptoactive to mine depending on your mining capacity. In addition to this, this company also offers mining power purchase services, which we will explore in another tutorial.
What is mining
Cryptocurrency mining, specifically that based on the Proof of Work Protocol (PoW), basically consists of use the computing power of our computer to calculate or validate a block within the blockchain of a specific cryptoactive.
Here you can find out more about what mining is.
The mining process generates dividends depending on how you mine. For example, if you join a mining pool, you can receive payments depending on the mining power you contribute or the amount of validations you do. That is, every time a new block is discovered, it issues a reward to the person who validates it, but it must be taken into account that, in the case of mining pools, this reward is divided among all participants.
Risks involved in mining cryptocurrencies
Since cryptocurrency mining fully utilizes the capacity of our equipment (CPU and / or GPU) we are talking about temperature increases that can lead to irreversible damage to our device. That is why, if you do not have good cooling for your computer or miner, avoid using it for mining.
How HoneyMiner works
First, as we explained earlier, when installing HoneyMiner, it will perform a scan of our equipment to determine the most profitable cryptoactive to undermine, however, this profitability does not calculate the cost for electricity consumption. It should be remembered that the higher the mining power, the greater the electrical consumption, which we must take into account when calculating whether it is profitable or not to undermine.
To calculate the profitability of mining we can use the Whattomine website.
Subsequently, upon knowing which cryptocurrency is the best to undermine, the mining process will begin immediately, with nothing else.
Profitability in bitcoins
Something interesting that HoneyMiner offers is that payments are made directly in BTC, regardless of the cryptocurrency you are mining. That is, each reward you receive is automatically changed by BTC, according to the current market rate.
Tips before starting to mine
- Remember to calculate the cost and profitability that you can generate with your equipment.
- Mining with GPU is more profitable.
- Avoid mining in daily use equipment, since when using the computing power of your equipment it cannot be used for other tasks.
- Remember to keep your equipment well ventilated to avoid damage.
Download HoneyMiner
The HoneyMiner application is available on its official portal for operating systems such as Apple's Window and OS X.
To start, the first thing is to go to the official HoneyMiner website.
Then, press on the option Star mining now, which will automatically start downloading the installer corresponding to our operating system. Then, we will proceed to install it on our computer.
Create account in HoneyMiner
With the program installed, when opening for the first time we will be asked to create an account from an email and a password as the only registration requirement.
The password must contain at least: An uppercase, a lowercase, a number and a special character.
With the registration done, we can start using HoneyMiner.
Initial HoneyMiner Configuration
When we start for the first time we will see how HoneyMiner gives us 1,000 satoshis for registering us in its application. We will have to press on Thanks To receive the gift.
Subsequently, the application will show us the different modules and functions that make up HoneyMiner where we will see:
- Honeymener: This counter allows us to see what level we are at. The more time we keep mining, the higher our level. In the same way, when we pass the level we can get rewards in satoshis.
- Off / On Switch: This switch allows you to control the on or off of the mining process. By default it is configured to start when you turn on our equipment; however, we can change this from the settings menu.
- Balance: It is the total amount we have within HoneyMiner. For withdrawals the minimum amount is 0.000025 BTC.
- Credits: Shows the recent activity of the funds received in our account, whether by mining, gifts or referrals.
- Activity: Shows the details of the activity of our team such as what cryptocurrency is undermining, mining power, current hardware capacity, among others.
The next step is to configure what part of our hardware we want to undermine. To do this we will click on the configuration icon (gear) in the upper right.
At the bottom we will find the options GPU mining Y CPU mining, that allow to activate or deactivate the specific section of our hardware for mining.
Now with everything ready –You may well notice that there are very few steps– We will proceed to turn on our miner, selecting on the corresponding switch.
From here we can see how the experience counter will increase while the mining process is active.
To see the activity of our miner, we must click on See full activity.
What we see here we have divided into 3 boxes, where in the red box we will see general information about our miners, taking into account that with the same account we can undermine on different teams:
- GPUs active: Amount of active GPU mining of all miners.
- Active CPUs: Amount of active CPU mining of all miners.
- 24hr potential: Approximate amount in BTC, or potential, that our miners can produce in 1 day. This value may vary over time.
- Monthly potential: Approximate amount to be generated in BTC in one month. This value may vary over time.
In the green box we will see detailed information about the equipment where we are mining:
- Computer: Name of the team.
- GPUs: Number of GPUs of this equipment that are active.
- Core CPUs: Number of CPU cores of this equipment that are active by mining.
- Coins: Currency that is mining HoneyMiner. This is determined by the application itself.
- 24h Potential revenue: Approximate amount to be generated in one day on this equipment.
In the blue box we will find detailed information about the CPUs and GPUs used to undermine this equipment. Where we will see the name of the device, the current temperature in which it is located, the daily estimate it can generate and the hashrate or mining power.
The maximum recommended temperature for GPUs is 70 ° C.
At the bottom we will see the Hotel GPUs section that allows us to add mining power purchased from HoneyMiner.
With this clear data, we can say that we have started mining cryptocurrencies successfully with HoneyMiner.
Withdrawal of HoneyMiner funds
To manage the funds that we generate within HoneyMiner we will have to go to its web portal, from where we will log in.
When opening, the first thing we will find will be with the current balance of our account, our level of miner and the history of transactions within HoneyMiner.
When making a withdrawal, you will first need to add a Bitcoin address to your account. For this we will go to the menu Profile (Profile) and then to Wallet (Purse).
Now we will press on Add new wallet.
Here we will have to indicate:
- Walley type: Type of portfolio. In this case only Bitcoin wallets are allowed.
- Wallet Label: Label or identification of the portfolio to be added. This is totally personal and you can give it the name you like.
- Wallet Address: Bitcoin address of the wallet.
HoneyMiner does not support original SegWit addresses that start in “bc”.
Added the portfolio, we will go to the menu Money (Money), and then to Withdraw (Remove).
From this section we will make the withdrawal. At the top we can see the withdrawal commission along with the minimum amount needed. On the other hand, in the lower section we will indicate:
- Currency: Cryptocurrency to withdraw. For now, only BTC is active. However, HoneyMiner shows that Ethereum and Litecoin will soon be available for withdrawals.
- Amount: Amount to withdraw. On top Available, we will see the amount available to withdraw.
- Wallet: Portfolio where we will send the withdrawal.
Finally in Total, We will see the total amount to be withdrawn, which is the sum of the withdrawal amount and the exit commission. At this point, just press on Withdraw to complete this process.
HoneyMiner referral system
Another interesting advantage that HoneyMiner offers us is that we can invite our friends to mine with this application and earn money for it. By just registering with our referral link, as soon as they start mining, we will start generating cryptocurrencies automatically.
To get the referral link, you need to go to your account and click on the menu Referrals.
Here, on the green box, you can see the referral link, which you must share with your friends to sign up for HoneyMiner.
Regarding how much you will earn with your referrals, we have:
- 10% of the total generated by your referral.
- 5% extra, if your referral has other referrals.
At the bottom of this section you can see the list of all referrals that have been registered through your link.
Differences between Claymore and HoneyMiner
While at this point we can have a clear idea of what HoneyMiner is, we'll talk first about Claymore. This specialized mining software is one of the most popular for mining cryptocurrencies such as ETH, ETC, ZEC, DCR, SIA among others. In one of the most adaptable when it comes to making the most of our mining equipment, but it is also cumbersome in terms of its interface.
Because of this, while Claymore for expert eyes is simple, for newbies there may be a lot of resistance to use due to its complexity. In comparison to this, HoneyMiner makes it easy for us as we could see throughout this tutorial.
As we noted before, Claymore allows you to get the most out of our equipment as it offers very customized configurations that maximize the hashrate that a GPU or CPU can offer. For example, we tested a modified BIOS GPU (practice performed to increase hashrate), and Claymore detected it and put it into operation without any problem. Otherwise, it happened with HoneyMiner, that when executed with the same GPU, it was identified by the program but it was not put into operation.
As you can see, it's all about what knowledge you have to start mining cryptocurrencies. While Claymore offers us the best performance, it does not necessarily make life easier for us when mining.
Conclusions
Although HoneyMiner competes with old people in the industry such as MinerGate in the mining area with little or no configuration, it leaves a pleasant feeling as to how easy to use, starting with a pleasant interface that summarizes all the profits in one cryptocurrency: Bitcoin.
As for its operation, it was fine and worked at the height. Despite the fact that the tests carried out were not demanding or long-lasting, their behavior was stable. Regarding the tests with the modified BIOS GPU, we did not get an answer, since HoneyMiner could not put it into operation in any way.
On the other hand, the referral system seems quite interesting, especially since it invites our referrals to get their own referrals, and thus improve our earnings.
To conclude, HoneyMiner is a program oriented for our users who want to experience the world of cryptocurrency mining. However, if you are one of them, Take into account that it is necessary to investigate the subject before downloading this application since you can put your equipment at risk.
Source link
https://www.criptonoticias.com/tutoriales/honeyminer-forma-sencilla-comenzar-minar-criptomonedas/
