How to Mine MONACOIN. Published -

Mining Intro

Mining is a game of sorts. The better you play the game, the more money you can make. There are also several ways to play the game. You can mine what is currently most profitable for immediate gain. You can mine a coin you deem undervalued but believe will spike in the future. You can chase the top coin of the day constantly changing what you are mining. You can pick a coin you like and feel is stable and stick to it. The reasons I recommend the NVIDIA 1080ti video cards is I believe they allow for great flexibility and the ability to mind some very good coins. Let whattomine.com become your friend. Decide what style of miner you want to be. Stay on top of cryptocurrency news and adapt as required. Have fun playing the game!

Mining Software

Different coins use different algorithms. Depending on the coin and algorithm used, you will need unique software to mine. Often this involves create a batch file that executes the program with parameters inserted. If this sounds overwhelming, it is not, and I will outline how to configure this in the specific for each coin. Additional pieces of information you will often need to set include your email address, miner name, and payout address. If often works best to create a “miners” folder and save all your various miner confirmations to different folders named appropriately in your main miner folder. This allows you to switch between them once configured.

Payout Location

Different coins can be stored in various locations. I am going to keep this short as it is a decision you need to make and options are found easily. Often coins have their own software wallets you can use. Sometimes sending to an exchange may be your only option. If you do send to an exchange, be careful how long you leave it there. Leaving any substantial amount of money on an exchange is considered very risky. Generally, hardware wallets are the best option. They are extremely secure, stable, and have all the functionality you need for mining profits. Another option is software wallets such as Exodus and Coinomi. These software wallets support multiple coins, can shapeshift, can be restored, and have many other nice features. One downside is that they are not considered as secure as hardware wallets, but are still a good option. Once you have picked your storage location, you can easily generate an address to send your coins to and input into your miner.

Note – Do not use the JAXX wallet. This wallet is not configured for mining deposits and will eventually break.

Pools

Simply put, to make money mining you need to have very large mining farms. Very few of us are in this situation so we join what is called a pool. This a group of mining resources that work together to solve problems. The winnings are then split between everyone in the pool. Not all pools are created equal. If a pool is too small, they may struggle to compete with others. Too large and you could be splitting money with too many other miners and not be happy with your take. In addition to these concerns, pools often take fees and at different rates depending on the pool. You need to take these options into consideration and potentially be ready to test various pools to see which one you perform in best. I will try to provide a pool example for each coin referenced below to help you get started quickly.

Creating a Batch File

If you have not lived in the IT world, this may sound intimidating. It is anything but that. It actually may be the simplest step of this mining configuration. It is basically just a text file with a special command in it. These commands are all over the internet and I will provide them for all coins I detail below. Here are the steps:

Open Windows Explorer and navigate to where you want to create the batch file. (This will be the folder where your mining software was extracted which will be outlined in the coin specific steps)

Right Click and in the white space and go to “New – Text Document”.

Before you save the file, replace the “.txt” at the end and replace with “.bat”. I would name it after your miner so for example, “monacoin.bat”.

Right click on the file and select edit to place text in the file. (Again, the actual text will be provided in the coin sections below.

Building a Miner (Hardware)

If you are interested in building your own miner, please see the article I wrote here!

Configuring Monacoin Mining

Mining Software

For Monacoin, CCMiner is a great miner program. It comes in a x86 and x64 version. From what I have read, the X86 version is more reliable so I would recommend starting there. If you want to test the x64 version after that, go for it. Before you download the file, create a “Mining” folder on your mining rig. Then create a “Monacoin” folder and download the .7Z (Compressed ZIP like file) to your “Monacoin” folder. Extract all files within that folder after you have downloaded it. If you are having difficulties extracting the files, download 7-Zip here. You now how the software. To configuring your pool next!

https://github.com/tpruvot/ccminer/releases

Payout Location

Again, there are probably more secure locations for Monacoin coins. I only instruct how to setup Bittrex to expose you to as many areas of cryptocurrency as possible. Here you can easily convert your coins to other options if you would like. To get your Monacoin payout address:

Login to or create your account at https://bittrex.com/.

I recommend setting up two factor authentication.

Select “Wallets” in the top right.

Under “Account Balances” type “Monacoin” in the search field on the right side.

You should only have one option listed and under “Currency Name”, “Monacoin” will be listed.

Click the “+” button to the left.

Copy the “Address” that comes up and paste it into notepad. Verify that the entire address successfully came over. This address will be used for your Supernova “Payout Address” in the next step.

Pool

For Monacoin, I have supernova.cc and it works very well. This pool requires a little more work to setup, but is still very easy. When you sign up, keep track of the username you create as you will need this when setting up the batch file to run the miner. The following steps should configure everything required to start mining.

Create an account at https://mona.suprnova.cc/index.php

Once your account is created, login and go to “My Account – Edit Account”.

Populate “Payment Address” with location you want your Monacoin to be deposited. Bittrex would be a good starting point to verify things are working before you locate a more secure location. How to obtain this address was detailed in previous section.

Go to “My Account – My Workers”.

Under “Add New Worker” create a worker name and password. The name could be simple like miner1 and the password can be anything you would like. Keep note of the values used here.

Batch File Configuration

In the same folder you extracted your mining software to, create batch a file using the “Creating a Batch File” section above. Once complete, right click on the file and select edit.

Paste the following line into the file:

ccminer.exe -o stratum+tcp://mona.suprnova.cc:2995 -a lyra2rev2 -u value1.value2 -p value3

All you need to do is edit value 1, 2, and 3 to your information. See below for what to place in these values:

Value 1 – This is the user name you created for the Supernova pool.

Value 2 – This is the worker name you created in the Supernova pool.

Note: Make sure you place a period inbetween value 1 and value 2. So it should be supervoca account.worker name.

Value 3 – This is the password you created for the worker listed here.

Once complete, save and close the file.

Get Mining!!!

You should be all set. I have had issues where anti-virus thinks the files are bad and deletes them. I had to create exceptions and extract my mining software again. Outside of that, pretty smooth. Good luck!!!

Next

Thinking zcash but let me know what coin would like instructions for next!