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Mining Ethereum to Generate Passive Income

The CryptoDad walks you through the basic steps to mine Ethereum using your computer’s graphics card or GPU. This is not a guide on building and setting up an advanced mining rig. That requires a lot of time, effort, technical proficiency, and money. This guide will focus on getting you started on mining Ethereum using tools you probably already have and are not utilizing. I will walk you through the steps from beginning to end.

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You can download and install Ethereum wallets here (you only need one, so it’s your choice):
https://www.myetherwallet.com/
https://metamask.io/
mist wallet: https://github.com/ethereum/mist/releases/tag/v0.11.0

Important Links:

Mining Guide:
https://www.bitdegree.org/tutorials/ethereum-mining/

Claymore’s Dual Ethereum Miner Software:
https://bitcointalk.org/index.php?topic=1433925.0

Decompression software:
https://www.7-zip.org/

Nanopool Mining Pool: https://eth.nanopool.org/

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Ethereum is an open-source, block-chain based, cryptocurrency and computing ecosystem for running distributed applications (or Dapps). The cryptocurrency component is called “ether” and functions as the payment system between nodes. Ether can also be thought of as the gas that runs the engine. The Ethereum platform can be thought of a giant distributed computer or Virtual machine. It is capable of actually running programs. These programs have the ability to function as “smart contracts”. These smart contracts are protected form alteration by advanced cryptography and a consensus algorithm. In this way, complicated agreements that usually require a third party can be entered into directly by the participants. Many smaller cryptocurrencies called ERC 20 tokens are created and distributed on the Ethereum network. Ethereum can revolutionize the way that people, companies and governments interact, and has already begun to do so.

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