Cryptocurrency enthusiasts who show an interest in mining at home have a few different options at their disposal today. One of the more particularly attractive options is to dual-mine Ethereum together with either Decred or Siacoin. Since all of these currencies use the same mining algorithm, there is very little code setup required to get started.
Dual-Mining Can Be A Profitable Business
The concept of mining multiple currencies at the same time is not new by any means. Bitcoin users have the option to mine BTC together with other relatively unknown currencies. IN the Ethereum world, things are a bit different, as dual-mining is the primary objective, rather than merge mining.
When setting up mining hardware to mine Ethereum, there is no reason to limit oneself to just one currency these days. Dual-mining is more than viable strategy, as it can help users pay off their mining hardware relatively quickly. Both Siacoin and Decred are traded on various exchanges and hold a particular value that needs to be factored in when calculating potential mining returns.
Setting up one’s hardware for this dual-mining purpose is not overly difficult either. Claymore is the most-often used software for this purpose, which supported both Linux and Windows mining operations. Once installed and fired up, the software will automatically detect hardware and start mining, with no further user interaction required.
It is important to note that dual-mining will not affect one’s mining power for Ethereum. Since all of these coins will be mined at the same time, the maximum speed is achieved for all currencies. For example, a 50MH/s mining operation using the Claymore software will mine Ethereum at that speed, while also generate either Siacoin or Decred, depending on the user’s preference.
Claymore also supports many different solutions, including solo and pool mining for both Ethereum and Siacoin. Decred is automatically mined through a pool, as solo mining is not feasible by any means.Do keep in mind there is a 2% fee for Ethereum-Decred mining and 1% for Ethereum solo mining. This means all mining operations will be solely directed to funding the developer for 36-72 seconds every hour.
Image credit 1
If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.