The principle is simple ; you own a computer, which is a very effective machine to make all sorts of calculations. The speed at which calculations are done is called the processing power of a computer. A lot of people around the world need large amounts of processing power, for various reasons : space simulations, 3D movies rendering, running distributed applications...
When you use Goldminer, you share your processing power on a network called Ethereum, where it gets added to tens of thousands of other users sharing their own. In exchange for the processing power you provide, the network will pay you with Ether, the currency of the Ethereum network.
Sharing your processing power on the Ethereum network is called "Ethereum Mining". Thanks to Goldminer, this process is totally automated, you only have to press a button (in the "Mining" tab) to turn on or off the processing power sharing. When you turn the Mining on, you computer will prepare to join the network, then when it is ready it will start delivering processing power. After a little while you will start receiving Ether on your wallet.
You will then be able to swap this Ether (ETH) for Euros (EUR), U.S. Dollars (USD) or other currencies, and transfer them to your bank account.
Ether is a cryptocurrency, and the processing power sharing of Ethereum is based on something called "Smart Contracts". The subject is a bit technical; if you wish to know more, we encourage you to read those articles :
GoldMiner and Ethereum are both legal software. ether mining is also legal. The ether you receive by mining is given to you in exchange of the processing power you deliver to the ethereum network. The value of ether, which can be exchanged for fiat currencies like U.S. dollars, is created by the people investing in the ethereum technology and who buy ether coins for various reasons. Often ether buyers use ether coins to run distributed apps (DAPPS) on the ethereum network. Some others buy it for speculating purposes, like any tradable good. Other people simply buy it because they believe ethereum is the future of computing.
Some may think that mining is damaging your hardware, but it's not. In fact, it does not use your processing power more than a normal use(playing video games, watching movies...). Neither voltage nor frequencies of your video card are changed by GoldMiner. The software uses it the way the constructor built it to be used.
GoldMiner is entirely free to download and to use. We only take a small commission (around 4%) on the mined ether. It allows us to pay for the web hosting, the servers and the developers. Please check that your software has been downloaded from our original website.http://GoldMiner.io/If you paid for this GoldMiner copy or have downloaded it from elsewhere, please beware because it probably is a hacked copy. Please let us know by contacting us on our website, and please download the official version.
When you use GoldMiner, the first step is to create an ethereum wallet. When you create a wallet, GoldMiner gives you a few elements:
- A wallet address. It works like a bank account number. You can give it to other people so that can send ether to you.
- A secret key. Also called private key, it is the secret access code to your wallet. This key allows you to know how much ether you own on a wallet, and also to make transaction from that wallet to other ethereum wallets. You must save your secret key in a safe place and never lose it or share it. Without this key, you will not be able to access your wallet.
- A wallet file. GoldMiner lets you download a file which contains all your account data : the address and the secret key. Download it and store it in a safe place. Do not lose it, and do not share it with other people as it contains your secret key.
Once the wallet is created, it is automatically loaded into GoldMiner. If you want to load another wallet, you can do it at any time. When you use the "Mining" page, all the ether you make is sent to your currently loaded wallet.
We do not store wallets, nor any wallet data. We do not keep a wallet database, nor any way to know or find any wallet address or secret key. It is up to you to store your wallet information safely.Unlike a bank, which keeps their customers account information and money, we do not keep anything about your wallet. All the wallets create by GoldMiner and the amounts they hold are stored into what is called the "ethereum Blockchain". All the safety is provided by the ethereum technology. For more information, you can read this article about cryptocurrencies Wikipedia - Cryptocurrency
GoldMiner lets you create an ethereum wallet and receive ETH coins. Once you have some ETH on your wallet, you can change it for U.S. dollars or euros, and withdraw them by transferring to your bank account. In order to do that, you must use an exchange service.
It takes a little time to get started but we will guide you through the whole process.
Here are the two main exchanges accepting ether coins:
Kraken currency exchange. This is the website we use usually.
Poloniex, U.S. based currency exchange. It is a good alternative as it is the biggest cyptocurrency exchange in the world.
The process is quite simple : first, you must create an account on one of those websites. We will consider that you chose Kraken as an example for this short tutorial.
Once you are correctly signed into Kraken, go to the "Account" page, then to the "Get verified" tab. There you can request to upgrade your account to several Tiers. Each Tier grants you more permissions (deposit, exchange, withdraw). The tier you need in order to be able to withdraw money (fiat currencies) is Tier 2, which gives you the permission to withdraw up to 2000 U.S.D. a day. deposit ether on your Kraken account
To do so, go to the "ACCOUNT"->"FUNDING" page on Kraken. Choose "ether (ETH)" as a currency, then select "ether (Hex)" as a deposit method. An ether wallet address will be given to you. It is an address created by Kraken so that you can send ether from your ethereum wallet (created with GoldMiner) to your Kraken account. Copy this address, then go to the "Transactions" page of GoldMiner. If you are not connected to your wallet, you will have to connect to it, either by using a wallet file o a secret key (given when you created the wallet). Once you are connected to your wallet, enter the wallet address you copied from Kraken into the transactions page, in the "To Address" field. Once the transaction is confirmed and sent, you will have to wait for a few seconds or minutes. You can follow the transaction state on your Kraken account. Once the transaction is completed, you will be able to see your ether Balance on your Kraken account by visiting "ACCOUNT" -> OverviewKraken lets you change ether with other cryptocurrencies such as Bitcoin or with fiat currencies such as euros or USD.
In order to withdraw money, you must first convert it into a fiat currency. To do so, on the Kraken website, go to "ACCOUNT"->"TRADE"->"NEW ORDER". Select the "Intermediate" tab, then at the line labeled "Order" choose "SELL", then in the dropdownmenu on the right select "ETH"->"ETH/USD" if you want to change your ether for U.S. dollars, or "ETH"->"ETH/EUR" if you want to change it for euros. Into "Amount" spécify how much ETH you wish to sell. Let the other options as is, so that your ETHwill be sold at the current market value. Click on "Sell ETH for USD" or "Sell ETH for EUR". Confirm and wait for your sale proposal to be validated by a buyer. If you let the default options and you are selling at market value, it should take a fewseconds or minutes tops.Once the order has been validated by a buyer, go back to "ACCOUNT"; you will notice that your ETH balance has changed and you now have an USD or EUR balance.
Now that you have U.S. dollars or euros on your Kraken account, you can withdraw them.
To do so, go to "ACCOUNT"->"FUNDING"->"WITHDRAW". Choose the currency you wish to withdraw, add your bank account information and follow the instructions provided on the website. For more details please refer to Kraken Online Help
Please note that we are not affiliate in any way with Kraken.com nor Poloniex.com . Those currency exchange websites are completely independent from GoldMiner, and we do not take any responsibility in case of any issue with those companies.
You have good NVIDIA hardware and you think you could do better at mining with GoldMiner, and you may be right. Be sure to follow these steps before mining with a NVIDIA card on Windows 10 :
Install the right drivers
In order to get an optimized mining rate, you have to install NVIDIA pilots under the 350 version. Here's a list of drivers listed by type that may fit your GPU with those conditions, they're all compatible with Windows 10 :
Deactivate auto updates for GPUs on Windows 10
In order to be sure that your drivers won't update automatically and that you will keep the same mining rate, you have to disable auto updates on Windows 10. Follow these steps :
Right-click on the Start Menu then go to "Control Panel"
Go to "System and Security"
Go to "System"
Click on "Change Settings"
Go to the "Hardware" tab
Click on "Device Installation Settings"
Check "No, let me choose what to do"
You will have to update your GPU's drivers manually in the future. Now, you can mine without worrying of your mining rate falling down!
Deactivate auto updates for GPUs in NVIDIA GeForce Experience
If you downloaded NVIDIA GeForce Experience before, you will have to deactivate the auto-update function in the "Update Category" in the software. Uncheck the following option as shown in this screenshot :