Verge (XVG) is a decentralized digital asset that is focused on providing secure transactions for users of the Tor browser. Its aim is to enhance the anonymity of transactions, making it impossible to track such transactions, thereby protecting the privacy of its users.
Like many other digital assets, XVG is mineable. It is one of the coins on which miners are capitalizing to generate wealth within the cryptocurrency industry. Either cloud mining or hardware mining can be deployed for Verge. However, for the purpose of this post, we will be considering the hardware mining process.
Verge can be efficiently mined with GPU and ASIC processors. The appropriate processor to use depends on the preferred hashing function that a miner deploys.
First things first, here’s what you will need before kicking off your XVG mining exercise:
- Mining Hardware (GPU rigs or ASICs)
- 24/7 internet Connection with a minimum of 1MB/s Bandwidth
- A Verge Wallet
- Enough electrical capacity to run your hardware
When you have the above infrastructure in place, you will likely want to find a suitable mining pool and join. Mining difficulty keeps increasing, and going solo makes for stiff competition. In a pool, the chance of finding a block is higher and the rewards are shared between members of the pool according to their ratio of contribution.
How to Set up a GPU Mining Rig for Profitable Verge (XVG) Mining
At this stage, you will have to choose the correct algorithm for your GPU manufacturer (which could be either AMD or Nvidia). Here, we’ll use the ccminer.
1. Create a wallet to receive your Verge coins by downloading one from the official Verge wallet website.
2. From the same website, download the latest version of the ccminer and extract the archive to a folder location that will be easy for you to remember.
3. Choose a mining pool. While making your choice, investigate the conditions and fees involved to be sure that they suit your plans and will likely be profitable.
4. Create a batch file with the pool and wallet addresses. The configured parameters will kickstart the miner automatically. Inside of your ccminer folder, right click and hit New > Text Document. Then copy the configuration text and paste it in the newly created document.
Edit the text by replacing “YourWalletAddress” with your actual XVG wallet address that was created from the beginning.
Go through the README file to find other parameters that you will need to configure. Once you’ve done that, click on Save As > start.bat (Select all files), as shown below:
5. At this point, you can now start the batch file and watch your GPU mine away. This is what your screen will look like:
Congratulations! Once you’ve completed these steps, you’re mining Verge.
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