diff --git a/knowledge-base/user-guides/How-to-mine-Monero-XMR-without-a-mining-equipment.md b/knowledge-base/user-guides/How-to-mine-Monero-XMR-without-a-mining-equipment.md new file mode 100644 index 00000000..87d88644 --- /dev/null +++ b/knowledge-base/user-guides/How-to-mine-Monero-XMR-without-a-mining-equipment.md @@ -0,0 +1,48 @@ +## How to mine Monero (XMR) without a mining equipment? + +If you don’t have a profitable mining equipment, nor time or +money to invest into building it, you can still mine Monero with NiceHash. + +NiceHash is a hashing power marketplace. Sellers of hashing +power, i.e. miners, provide the hashing power for buyers (those who want to buy +a service of mining a certain coin). Hence, NiceHash can provide you a massive +hashing power in short amount of time. You won’t have to wait for years to see +if you will make a profit or not and you can control which coin, at which pool, +and for how long you want to mine. + +### **Step 1:** Create new account at NiceHash + +Visit [registration +page](https://www.nicehash.com/?p=register) and register with your e-mail address. + +### **Step 2:** Deposit some Bitcoins to your account + +You will mine Monero, but you can buy hashing power at +NiceHash only with Bitcoins. You can always withdraw unspent Bitcoins from your +account back to any Bitcoin wallet. + +Visit your [wallet +page](https://www.nicehash.com/?p=wallet) and make a deposit. Note that the minimum price for placing an order +equals 0.01 BTC. + +### **Step 3:** Find a suitable pool for mining and add it to your pool list + +Selection of the pool plays a big role in the final amount +of mined cryptocurrency. Make sure the pool you have selected can handle +massive hashing rate and loads of shares, especially from a single connection. +You can find a list of Monero pools [here](https://bitcointalk.org/index.php?topic=583449.0). + +Note that you will probably have to register an account at +selected pool as well. The pool will provide you with all the information you need. +You can save your favourite pools at [this page](https://www.nicehash.com/?p=managepools). + +### **Step 4:** Create new order and start mining + +When creating a [new order](https://www.nicehash.com/?p=orders&new), make sure you +select CryptoNight algorithm for mining Monero. If you want to first learn more +about placing an order with NiceHash, we recommend you to read this [frequently asked question](https://www.nicehash.com/?p=faq#faqb0). + +If you want to bid on +hashing power select Standard (bidding) order type and if you want a fixed +order that cannot be outbid, select Fixed order type. The status of marketplace +and approximate prices of mining can be checked at [live marketplace](https://www.nicehash.com/index.jsp?p=orders).  \ No newline at end of file