How to use old computers to mine cryptocurrency from home

Image source: Getty Images

Don’t let your old computers go to waste.


the main points

  • unMineable is a popular program that uses your computer’s GPU and CPU to mine cryptocurrency.
  • How much your computer can mine will depend on your current GPU and hash rate.
  • Profitability depends on setup, electricity costs, and the price of the cryptocurrency.

Cryptocurrency mining is becoming more and more difficult, but there are still opportunities to use an old desktop or laptop computer to mine cryptocurrency like Shiba Inu. Created in 2020, it is an Etherum-based alternative to Dogecoin (DOGE), the meme currency made famous by Elon Musk.

After its launch, SHIB was ranked among the largest cryptocurrencies in the world in October 2021. The value of Shib has increased by almost 49.00,000,000% in 2021. If you had only bought $2.05 from SHIB on January 1, 2022, at the end of the year, it would have been Millionaire!

Shiba Inu, like most cryptocurrencies, has been beaten this year, but is still above 16,000,000% since the beginning of 2021. While Bitcoin mining now requires large deposits of machines and powerful shredding methods, you can still use the processing power of a hardware device. your personal computer. A computer’s central processing unit or graphics processing unit (GPU) to create a smaller encoder like the Shiba Inu.

Get a cryptocurrency wallet address

The first step is to create a crypto wallet. Cryptocurrency wallets do not actually store cryptocurrency. They keep your private key – the password that gives you access to the encryption – safe and accessible. The crypto you own is on the blockchain and your key is proof that you own your crypto and allows you to transact.

It is important not to lose your wallet, otherwise you will lose full access to your crypto. Your wallet can be a USB drive or a program like Coinbase or Crypto.com. To start SHIB mining, you will need a crypto wallet to collect your rewards once you reach the payment limit.

unMineable is one of the well known crypto mining software. It has an easy-to-understand user interface for novice miners. The program allows you to mine some coins that normally cannot be mined with GPUs like Shiba Inu, Aave, Cardano, Digibyte, Dogecoin, etc.

Our best coding game isn’t coding – here’s why

We have found a company that perfectly positions itself as a long-term solution to the broader crypto market – Bitcoin, Dogecoin and all the others. In fact, you may have used this company’s technology in the past few days, even if you don’t have an account or even heard of the company before. This is how common it is.

Register today for stock advisor And access our exclusive report where you can get the full scoop on this company and its benefits as a long-term investment. Learn more and start today with a profile Special discount for new members.

Started

You can download the program to your computer and it is free to use. Currently there is no iOS version. It has a standard mining fee of between 0.75% and 1% and your computer will have to be turned on for the program to work. Once you download the program, it will detect your computer.

Then you choose the currency you want to extract and enter your wallet address. A window will appear showing your balance, the cryptocurrencies you are mining and the current hash rate. To what extent your computer will be mined, the current hash rate depends on your GPU.

Is it worth it?

After learning this, I downloaded the software to my current laptop to test it out. I had to disable my antivirus on my computer to download and run unineable. I found the website a bit difficult to understand, so I watched YouTube videos to help me complete the setup.

My laptop can mine at 45 megahashes per second (MH/s). Hash rates mainly measure the computing power of cryptocurrency mining and measure the number of arithmetic operations per second, which can be up to quintillions. In comparison, the best bitcoin miner has a hash rate of 10 terahashes per second (TH/s), which is about 200,000 times more powerful than my laptop. I tested the software on my old laptop and could only mine 400 kilo hashs per second (kH/s).

At current rates, I can extract approximately 39,800 Shiba Inos per day or 1.2 million per month. My laptop has to run 24/7. This comes to $0.48 per day or $14 per month. When Shiba Inu was at its peak in October 2021, it would have been about 7 times that, or $100 a month. If you take into account my energy use of 105 watts, cost per kilowatt-hour at $0.25, and pool fees at 1%, the profit drops to $0.43 per month, or $5.27 per year.

It doesn’t seem like much given how damaged my laptop is and how much electricity I use. However, if you live in an area where electricity is cheaper and think SHIB will continue to grow in popularity, it may be worth it. At the moment, it seems that the unineable tool is safe for cryptocurrency mining, but it is important to be aware of the market. Utility prices have skyrocketed due to global events and cryptocurrencies have lost their value. Crypto is still quite volatile and the value of your returns is very unpredictable, especially with smaller coins like SHIB.

Earn $50 Bitcoin Bonus

Our updated list of the best cryptocurrency apps of 2022 is full of best-in-class options. The cryptocurrency apps that made it to our shortlist include perks such as a $0 commission and an option that offers a $50 bitcoin bonus. Check out the list here and start your coding journey today.

Get the best options

Leave a Comment