What is Monero XMR mining?

However, unlike the SHA-256 algorithm used by Bitcoin, Monero mining is done through the RandomX algorithm. Thus, note that you don’t need to purchase special hardware for XMR mining. Anyone with a computer can mine Monero because it can be carried out using your computer’s CPU / GPU.

What is an XMR mining pool?

Mining pools are a group of individuals, or rather, computers, which combine their computational power in order to mine cryptocurrencies faster. When you join an XMR mining pool you benefit from higher profits, although these are shared amongst all members.

How to mine Monero coins using a cloud server?

Unlike the previous two methods of mining Monero, using cloud servers is fairly easier and faster. All you need to do is: Locate a suitable Monero mining cloud. Open an account and decide how much you will invest. Set up a Monero wallet where to store your coins. Pay the cloud server fees.

What is the best Monero mining software?

The best Monero mining software when using AMD GPU hardware is XMR-STAK-AMD. It is a miner made specifically for AMD-based Monero mining. The installation process is similar to the one described above. Step 4: Then, again, type in the address to the pool of your choice, as well as your wallet address, and start mining!