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MinerGate Review: What You Need to Know

  • 14 September 2017
  • James Njau

In the early days of Bitcoin, most of the mining was done by techies from the comforts of their homes with the help of their PCs. Believe it or not, a simple desktop or laptop would mine many Bitcoins at zero expense. Unfortunately, as more and more people got involved in the mining game, the difficulty level tripled over the years, making the idea of mining from a laptop impractical.

All is not lost, though! Companies have begun to make good mining hardware that allows people to continue making more money of Bitcoin. Others are coming up with smart software that makes the whole process of mining Bitcoins a breeze. A good example that has been embraced by Bitcoin enthusiasts is MinerGate. It is bringing back hope for those who wish to mine and make easy profits thanks to its cloud mining services as well as its smart mining software.

This company started out as a CryptoNote based currency mining pool on 24th March 2014. It has now grown into a smart-multipool mining establishment that lets users make profits from mining on its platform. With Claude Lecomte as the CEO in conjunction with his team of cryptocurrency experts, it has managed to provide users with merged mining possibilities. The platform is built to support a variety of coins including Zcash, Ethereum, Bitcoin, Litecoin and much more.

Try MinerGate > HERE 

Top 5 Benefits about MinerGate

1. Easy to use

Are you a beginner trying to get your foot in the cryptocurrency space? Well, your work just got easier. With a simple download and an easy-to-use interface, you can start mining with MinerGate’s straightforward graphic user interface. All you need is your computer and an internet connection.  It's really that simple!

Source: minergate.com

2. Profitable

Bitcoin mining has been and still is one of the most lucrative ventures of our time, and MinerGate is making this a reality for many miners. How did you ask? Well apart from the fact that it is one of the biggest pools with the highest rewards for miners, it also accommodates automated merged mining. This means that with its “smart mining” feature, you can automatically mine from multiple pools while targeting your most profitable crypto-coins at the same time without breaking a sweat. Now that is convenient.

3. Secure

Let's face it; it can be painful to lose your crypto-coins as a result of malicious activity. Fortunately, MinerGate has you covered with its 2-factor authentication process for your account’s protection. Here is how it works. You get a password as well as a generated mobile code that is unique to your account and expires after 30 seconds. This double layer of verification is hard to crack even for guru hackers, therefore giving you peace of mind.

Try MinerGate > HERE 

4. Cloud mining

Yes, that's right! MinerGate offers a cloud mining package for Bitcoins that comes with the advantage of mining from quality hardware that features ASIC technology (industry’s finest). Plus, you get the freedom of choosing your own hash rate leaving you with the task of only collecting profits.

Source: minergate.com

5. Affordable

The fact that MinerGate offers a wide range of products for cryptocurrency enthusiasts is a plus. With a 99.97% uptime, miners will surely get a good ROI for their investment. It goes without saying that its pool fees are not only reasonable but the best you can find in the market.

Top 10 questions about MinerGate

1. How do I get started with MinerGate?

Getting started with MinerGate is super easy. If you already have your own hardware and are only looking for a mining pool, you can join over 500,000 miners who are already part of the MinerGate mining pool. Apart from that, cloud miners that want to start mining from their PC can also create a contract by simply choosing a plan and start mining the very next day.

2. What does cloud mining mean?

Even without sophisticated hardware, anyone can be a miner thanks to Cloud mining. Basically, cloud mining is a way of obtaining fresh Bitcoins from the Bitcoin blockchain by using computing power to solve complex blockchain transactions. As a miner on the cloud, MinerGate provides you the best ASIC miners leaving you with the task of only paying for maintenance without having to purchase expensive mining equipment.

3. Can I withdraw the funds that I have mined from MinerGate?

Of course, you can. But first, after you have set up your account and have already mined a couple of Bitcoins, the next thing you want to do is to withdraw them to your Bitcoin wallet. You have to understand that getting a bitcoin wallet is automatic with every bitcoin address. Therefore with this simple process, you can be sure to have your coins delivered straight to your wallet.

  • First head on to the MinerGate GUI and click on the withdraw button
  • Now type in a number of coins you want to withdraw and simply click “send”
  • After that, you will be required to enter your Bitcoin wallet address
  • Finally, press on the withdrawal button to complete this transaction

Keep in mind that the operation might delay as a result of a couple of factors including the transactional block you have used plus the network density. It might take about 20-40 minutes to get your Bitcoins, so be patient.

4. How can I setup my account protection with 2-step verification?

Frankly, the best thing about this security measure is that it gives you peace of mind and setting it up on your MinerGate account is easy. Here is how you go about it.

  • Go to your profile and click the “Enable” button that is under the 2-step Verification section
  • Now go ahead and download the authenticator app on your smart phone. Don't worry it's available for both Android and iOS users.
  • Then type in the Key manually or scan the QR code
  • Finally, enter the password while not forgetting the generated code from your phone's app and you are done.

The best part is that you can also disable the 2-step verification if you want, giving you flexibility, which is awesome.

Source: minergate.com

5. How do I use the MinerGate Smart mining feature?

The Smart mining feature comes with the MinerGate software that you can simply download on to start mining using your own computer's GPU and CPU. Depending on your computer's specifications, you can take advantage of the “Smart Mining” feature to automatically mine currency with the highest exchange rate to make the most profit. Added to the fact that MinerGate mining pools allow for merged mining, you can make good returns using this software even as a newbie. The alternative here is to buy hashing power through MinerGate's Bitcoin cloud mining services

Try MinerGate > HERE 

6. What cryptocurrencies can I mine on MinerGate?

This here is an easy one because MinerGate’s pool provided miners the freedom to mine a variety of crypto-coins with its merged mining capacity. Among its list of supported currencies include:

  • Zcash                            
  • Ethereum
  • Bitcoin
  • Bytecoin
  • Litecoin
  • DigitalNote
  • Monero

These are just a few of the currencies you can mine on the MinerGate pool. Be sure to check out their website for more.

7. When do I get the payouts?

No matter the contract you decide to settle for, MinerGrade claims to bring in steady profits with a contract history that lets you track your rewards effortlessly. When it comes to getting a payout, you can expect daily rewards at 12:00 UTC. But first, you have to reach the threshold for minimal withdrawal (set at 0.01BTC), only then can you withdraw your daily earnings.

Source: minergate.com

8. What are the mining fees involved?

High mining fees can really set a miner behind the eight ball when it comes to mining. Thankfully, MinerGrade charges only maintenance fees to its cloud miners. This includes resource costs as well as electricity costs.  

Try MinerGate > HERE 

9. How does MinerGate’s rewards and payout work?

It's pretty straight forward. With data centers installed across the globe, it is able to leverage the power of powerful hardware to mine Bitcoins from newly unblocked blocks. The rewards you receive originate from these machines with no third parties between you and your coins.

10. How can I use my miner on MinerGate?

Great question! Well for those that just love the thrill of building up their own mining rig or setting up a mining firm at home, MinerGate still has you covered. You can simply use your hardware to connect to MinerGate mining pool to mine Litecoins. However, this option only works for Litecoin since there are other crypto-coins resistant to ASIC technology.

Try MinerGate > HERE 

About James Njau

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