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What is Monero Mining?

Monero is a cryptocurrency that can be mined using computational power from GPU or CPU. It depends upon Ring Signatures for privacy of its transactions. Since there is no ASIC for the Monero, it may be mined by all computer owners. When you have decided to mine Monero, you need to then choose whether to mine in a pool or to go solo. The first option has many benefits even if you will have to pay a fee for it. It is a good option for the users which lack a lot of computational power and must wait for long periods to get a reward. In pools, users can put in efforts together to ensure steady income flows.

Those users which have ample hardware can decide to mine Monero solo; they may also get advantages of a mining pool. A great advantage of mining Monero is because of the huge community behind it. Mining solo is typically encouraged. In fact the community compiles a list of all trusted Monero pools that you can think about. There are users who decide to invest in specific mining equipments to better their hashrates.

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