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A Beginner's Guide to Mining TEXITcoin

TTEXITcoin Core Team
•
A Beginner's Guide to Mining TEXITcoin

Understanding the Basics

TEXITcoin uses the Scrypt proof-of-work algorithm. This is important because it means you can mine TXC with consumer-grade hardware, specifically Graphics Processing Units (GPUs). While specialized ASIC miners for Scrypt exist, GPUs offer a more accessible entry point for new miners.

What You'll Need

  1. A suitable GPU: NVIDIA or AMD GPUs with at least 6GB of VRAM are recommended for efficient mining.
  2. A TEXITcoin Wallet: You need a wallet address to receive your mining rewards. You can set one up on your desktop or use an exchange wallet.
  3. Mining Software: Programs like CGMiner, BFGMiner, or EasyMiner are popular choices for Scrypt mining.
  4. A Mining Pool: While you can mine solo, joining a pool combines your hashrate with other miners, leading to more consistent and predictable rewards.

Step 1: Set Up Your Wallet

Before you start mining, you need a secure place to store your TXC. Download the official TEXITcoin wallet from our resources page or create an account on an exchange that lists TXC. Once set up, find and copy your public wallet address.

Step 2: Choose and Configure Mining Software

Download your chosen mining software. The configuration typically involves creating a batch file (.bat) or editing a configuration file with the following details:

  • Algorithm: scrypt
  • Pool URL: The address of your chosen mining pool (e.g., stratum+tcp://pool.example.com:3333)
  • Wallet Address: Your public TXC wallet address.
  • Password: Usually 'x' or a password provided by the pool.

A typical configuration might look like this:

cgminer --scrypt -o stratum+tcp://pool.example.com:3333 -u YOUR_WALLET_ADDRESS -p x

Step 3: Join a Mining Pool

Research different TEXITcoin mining pools. Consider factors like:

  • Pool Fees: A percentage of your rewards paid to the pool operator.
  • Payout Threshold: The minimum amount of TXC you must mine before it's sent to your wallet.
  • Server Location: Choosing a server geographically close to you can reduce latency.

Register on the pool's website and add your wallet address as a worker.

Step 4: Start Mining!

Run the batch file or executable for your mining software. If configured correctly, you'll see your GPU start working, and the software will display your hashrate and accepted shares. You can monitor your progress and estimated earnings on your mining pool's dashboard.

Happy mining, and welcome to the TEXITcoin network!