If you choose the most efficient ways for ZCash mining, you can earn well from the cryptocurrency. Nevertheless, everything starts somewhere, and so you must know how to get started.
ZCash mining starts by knowing how to assemble the mining hardware and knowing the right mining pools to accomplish your objective. In the wake of cryptocurrency and blockchain technology, everyone seems obsessed with cryptocurrency mining. An estimated half a billion people are involved in the crypto industry across the world and the number keeps growing.
The competition in the crypto mining sector has made it impossible to mine some digital assets in pools because the process of creating blocks has to consume a lot of time and effort. In the end, what you invest in electricity and hardware exceeds the rewards.
What is ZCash?
So how do you set the stage for ZCash mining? Before you proceed, you need to know the cryptocurrency you’re working with. ZCash has its roots from Bitcoin, but comes with added anonymity, selective transparency, and more effective governance. While Bitcoin transactions are transparent such that anyone can see the addresses and their balances, ZCash conceals the information, making it quite private.
As of this writing, ZCash (ZEC) is in the 19th position in terms of market size. The cryptocurrency has a circulating supply of 5, 373, 806 ZEC. Based on its fundamentals and the community behind it, ZCash is a promising digital asset with a great potential for growth. Recently, Coinbase added ZCash to their Pro platform.
Reasons for ZCash mining
With new cryptocurrencies joining the market, many people are asking whether ZCash mining is still profitable. Based on the following observations, the answer is a resounding yes. Here is why you should consider mining ZCash:
- ZCash still allows miners a decent reward for their services. Therefore, as a miner, you can cover the expenses of a GPU and other mining hardware.
- ZCash is easily exchangeable with Bitcoin (BTC). This can help you build a strong position in BTC. It’s also easy to transform BTC into cash.
- ZCash shows steady growth despite being highly volatile
Preparing for mining
Like mining any other cryptocurrency, ZCash mining requires effort, resources, and investment. The success and the rewards depend on the quality of both hardware and software you use for mining. The following are some of the electronics you need to make your mining game successful.
- A personal computer with Windows or Linux OS
- ASIC Miner—a special hardware designed for crypto mining
- A cooling system with fans
- A frame for assembling your mining rig
- ZCash wallet for mining the cryptocurrency
Finding the most optimal machine for ZCash mining
In order to find the best hardware for mining ZCash, you should be conversant with the calculations and choose the most profitable hardware. It’s advisable to start with the memory card, which should be at least 1GB of RAM for the lowest level of mining. Besides, check prices of different units, and finally, add the overall electricity cost to your budget.
For maximum ZCash mining, you should invest in ASIC Miner, which improves the efficiency of crypto mining activity by a great margin. However, the method is quite expensive, ranging between hundreds to thousands of dollars.
Once the stage is set and everything is in the right place, you should engage a professional for ZCash coin.
This is not an express trading or investment guide. Conduct a research before you invest in cryptocurrency.