Minergate: How Reliable Is It?

Cryptocurrency mining has been a complex matter from the beginning. Even for technical people, it is hard to understand the system. But, software companies are trying to make it easy for common people. In this article, you will find everything you need to know about Minergate.

What Is Minergate?

Have you heard about Mining pools? If not, then here is the definition of it. 

Mining Pool
The Mining pool is a method where thousands of miners work together and add their processing power to increase the chance of finding a block. It increases the possibility of getting more rewards, and in the end, they share the reward equally.

This crypto mining software allows you to join a mining pool in a very easy way. The user interface is easily accessible. You can add your computer’s hashing power with another website miner for better profitability. It was first introduced in 2014. 

Minergate helps you to omit the complexities and introduces mining in a simple way. You can just download and run the program. There are a few things that you should know before starting to use.

• Large and powerful computer means more power and more money, small and average computer means less power and less money.
• The profitability depends on which coin you are mining.
• The minergate mobile miner app is not for mining. The mobile app is to control the mining process remotely.
• Minergate is easy and simple to use, but if you are from a technical background, you can get the best out of it.
• You can use both CPU and GPU mining.
• More than one cryptocurrency can be mined at the same time. But, other mining pools do not give you this advantage.

How To Use It?

There is a particular reason that the Minergate is so famous amongst the community. The first reason is that it is the first platform that introduced this feature, and the second one is that it is easy to use. 

Now, the steps to use Minergate.

1. Go to the minergate website and click on the ‘create an account’.
2. Then sign up with your email address and verify it,
3. The website will detect your OS, and give you the suitable software.
4. Download and install the application.
5. There is a feature that will analyze your system and calculate the profitability, use it.
6. There is an option called ‘Smart Mining’, click on it.
7. Select a cryptocurrency that you want to mine.
8. That’s it, that is all you have to do to start mining, isn’t it simple?

Who Are The Minergate Users

If I have to put it in simple words. I will say that this platform is best for people who are new to the crypto mining pool. Suppose you are thinking of getting into mining cryptocurrency and you have no experience in it, then this is the best platform.

I once used this platform on my regular laptop. But it took a lot of the system’s memory to get processed. After a year, I earned almost $30. This was not great, but something is better than nothing. 

Why You Should Choose Minergate

There are five different mining pools in this software. There are as follows.

• Ethereum (ETH)
• Monero (XMR)
• Ethereum Classic (ETC)
• Bitcoin Gold (BTG)
• Zcash (ZEC)

I think you already know why most people are using this platform. This platform allows you to use different mining pools at the same time. There are other reasons behind choosing. These are-

1. Smart Mining

If you enable this feature, it will automatically calculate the best profitable pool and switch to that cryptocurrency mining. There are two factors that work in this feature. The first one is the hash power, and the second one is the value of the cryptocurrency in the current market.

2. Support Many Applications

Minergate is so flexible for the miners. It allows almost every application, people who are using different graphics cards, CPU miners, GPU miners, GUI miners, ASIC miners, and everyone can take advantage of this software. Also, it doesn’t matter which OS you use. You can use a PC or Mac, Linux, Windows, or Ubuntu. This platform supports everything.

3. Check Your Transactions

This platform provides all the information, such as blockchain information, network hashrate, blockchain height, emitted coin number, transaction hashes, and block rewards. All the information is important when you are withdrawing your money.

4. Pool Status Tab

The hashrate is important when it comes to mining. In this tab you can see the hasrate of your system and of the world. You can check all the functions in this tab, even you can see if the status is online or offline. 

5. Profitability Calculator

In this tab, you can check the profitability. The formula is as follows.

“Reward= (hashrate * block_reward) / current_difficulty) * (1 – pool_fee) * 3600”

This will help you to understand if mining in your system will be profitable or not.

6. Free To Choose

You can choose your mining preference. There are different mining options, such as, console mining, GUI mining, CPU mining, and GPU mining. It’s up to you, what you want.

Is It Safe To Use?

Less knowledge is dangerous. People who call it minerhate are spreading that it is a scam. So, before you use this platform, gather proper information from credible websites. It is not a scam, but there are some technical issues that you can face while using it.

Community Review

In the early stages, Minergate performed well. There was no other platform that was giving the same benefits. But right now, there are some technical issues and withdrawal issues that users are facing. From all the reviews, I have sorted the most common problem that you can face.

• You may face withdrawal problems.
• The website takes too much time for maintenance.
• You may find some absence of transparency.
• This platform shows your hashrate a little low, but in reality, the hashrate is higher than that.
• The wallet mining feature is so bad.

Cryptocurrencies 

You will be able to mine the following cryptocurrencies.

• Ethereum
• Zcash
• Bitcoin Gold
• Ethereum Classic
• Monero
• Litecoin
• Grin
• Tron
• EOS
• ICON

You may be wondering where Bitcoin is. So, for your information. In 2019 the Bitcoin mining pool was shut down. Also to be noted that around 1% to 1.5% is the transaction fee.

How Reliable Is It?

Let me give you a straight answer. For an amateur online miner, this software is great and reliable also. They may face some issues in the future, but the user interface is pretty nice. Also, the software is user-friendly and has lots of features.

On the other hand, there are technical and withdrawal problems. The community reviews suggest not to use it. And there is another issue, that you have to hold some of your money on this platform. You can not withdraw all of your assets. 

Pros	Cons
Simple and Easy	No customer support
Many supported applications	Technical problem
Innovations	Withdrawing problem

So, my suggestion is, if you are new to crypto mining, you should definitely use Minergate. Try to understand mining-related things, and then after days or months, go for a better option. 

So, What Are The Different Platforms

If you really want to be in this business, I would suggest you use NiceHash. This platform is great not only for mining but also for hardware and software. 

There are other platforms that you can use. The list is as follows.

• MultiMiner
• MacMiner
• Kryptex
• Cudo Miner
• Hashing24
• Computta
• Awesome Miner
• MoneroHash
• Slush Pool

Frequently Asked Questions (FAQs):

Final Words

The best thing is that you can download and install Minergate at any time and start mining. This is pretty cool, I know that. And please stop searching for mineegate, it is Minergate.

There are both good and bad sides, now it is up to you, what do you want to do?

Although, the company has failed to prove its credibility most of the time. Now it is your decision.

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