Getting Started

Now that your have made the decision to get into crypto mining there are a few accounts you need to setup before your rig can start mining for you. The accounts in this list are not all inclusive and are based on my preference. I am not saying these are the only accounts or the best accounts in the world. I personally use them and think they are great for a long list of reasons.

I do include my referral link for those that offer it. Use the referral links and you will get free benefits too.

1. GET A CRYPTO WALLET (NON-CUSTODIAL)

Start at least 1 non-custodial wallet. This is a wallet in which ONLY YOU have the private keys. In setting this up you will also receive what is called your "seed words" these are 12-24 random words that you will WRITE DOWN, DO NOT STORE THEM ON YOUR PHONE OR IN SOME RANDOM TEXT FILE. If anyone is to get ahold of these words, they have access to your money, if you lose them....you lose your money. Seriously. If you ever lose these words your money is gone forever and there is nothing anyone shy of the Lord Almighty that can help you.

Digital Wallets

Hardware Wallets

2. SETUP ACCOUNTS AT CRYPTO EXCHANGES

A crypto exchange is where you convert your coins into other coins or convert your coins into fiat currency (US Dollars). You should have a few accounts because not all exchanges support all coins and the volume of trades varies from exchange to exchange and thus prices for coins do too.

You really only need 1 exchange but more is better. Keep in mind due to US Tax regulations you will be required to take pictures of your ID and provide your SSN. THe verification process can take up to 3 days so don't wait. The last thing you want is to be ready to sell your coins and be stuck waiting while you get verified.

3. SETUP MINING POOL ACCOUNTS

These are the accounts that will provide addresses for your rigs to mine to. Different Pools have different payment structures and user base so profits will vary a bit. The payment structure includes the minimum amount of BTC or other coin you must have earned before they will transfer it to your wallet. This is not a scam but to avoid filling the network with tons of micro transactions and paying too many fees.

  • Nicehash

  • Antpool

  • F2Pool