One way to get crypto assets other than buying them is by mining them. To mine crypto, it is known that it requires large fees and quite expensive devices. However, now there is an application that facilitates the mining of crypto assets via smartphones, namely the Minergate application.
Minergate is a crypto mining platform that was founded in 2014. This Minergate apk makes it easy for its users to mine various types of crypto assets by using the combined power of the hardware they have.
So, in this article, you will see a guide to using Minergate that is safe and efficient. To find out more about what minergate is, how it works, its advantages and disadvantages, and how to use minergate on Android, see the following review.
What is Minergate?
As mentioned above, Minergate is a crypto mining platform that was launched in 2014. Minergate allows users to mine different types of cryptocurrencies by using their computing power.
The idea behind Minergate’s presence is to make it easier for novice miners and users who don’t have deep technical knowledge to get involved in crypto mining without having to understand in detail the ins and outs of the required hardware and software.
Please note that Minergate uses a mining model known as merged mining or unified mining. This concept allows miners to mine various types of cryptocurrencies that have different mining algorithms simultaneously without the need to manually switch from one coin to another.
Thus, Minergate provides a convenient and efficient solution for users who want to mine various types of cryptocurrencies without having deep technical knowledge of crypto mining.
So far, the Minergate platform has succeeded in attracting the interest of many novice users and contributing to increasing participation in the overall crypto mining network.
How Minergate Works
After knowing the meaning, now is the time to find out how the Minergate platform works. Of course, to use the Minergate Android app, it’s important to know how it works.
Please note that Minergate will automatically convert the crypto assets obtained. In addition, smartphone devices used for mining crypto assets using MinerGate must be sufficiently qualified. This is because the mining process will cause the smartphone to heat up and require high power.
When using Minergate Android, there are a number of features that can be used by miners, including:
- Mining on Android smartphones
- Balance and connected devices
- Withdrawal of returns from mining coins
- Crypto asset price check
- Can chat with fellow miners in a certain language
- Purchase and control of cloud mining contracts
In addition, there are also several services provided by MinerGate Android for use by miners, namely:
- MinerGate Stats
- Automated Merged Mining: Smart Mining
- Security using two-factor authorization
- Rewards for using the platform through Pure Coins
- Cloud mining to increase mining results
Minergate Strengths and Weaknesses
Now, you already know how it works and the features presented by Minergate. Furthermore, it is also important to know what the advantages and disadvantages of this one mining application platform are. This is important as a consideration for choosing Minergate because the platform will be used later for mining.
The following are some of the advantages and disadvantages of Minergate that you need to know:
Excess
- There is no need to buy a lot of equipment.
The first advantage is that with MinerGate, you don’t need to buy a lot of equipment. That is, you can only use your Android smartphone.
- Can mine various crypto assets
Furthermore, with Minergate, you can mine various crypto assets. Please note that several platforms other than MinerGate will only allow their users to mine one coin.
- There is a special smart mining feature.
Next, at Minergate, there is a special feature called Smart Mining. The software analyzes the market and provides the best options for mining at the moment. The program can make automatic switches between coins so that users no longer need to follow the crypto market constantly.
- Easy to use
Finally, on this list, Minergate’s strength lies in its ease of use. Thus, users do not need to learn much about how to use the Minergate service.
Lack
- Not working regularly
The first drawback is that the Minergate service does not work regularly. This itself is known based on claims from a number of users of this application platform.
- Lower miner rates (less profit) than other miner pools
Another thing that Minergate lacks is that crypto mining rates in this application are claimed to be lower than similar mining pools.
- The application dashboard is often constrained
Lastly, the drawback lies in the dashboard of this application, which is often constrained. According to a number of users, they consider that the dashboard in this application is a bit difficult to upload due to delays.
How to use Minergate on Android
As mentioned earlier, to use Minergate, you can do it on an Android smartphone. However, its use must be with a smartphone that has qualified specifications. However, before that, you had to register and download this application first. Here’s a guide to registering and downloading Minergate on Android, namely:
- Open the Play Store on your Android device.
- Search for “Minergate” using the search feature in the Play Store.
- Select the official Minergate application from the search results and press the “Install” button to download and install the application.
- Wait until the download and installation processes are complete.
- After the application is installed, continue by pressing the “Open” button to open Minergate.
Meanwhile, for the initial configuration and setting up of a mining account (mining) at minergate, the following are the steps, including:
- After opening the Minergate application, you will find a welcome screen. Please continue by pressing the “Get Started” or “Start” button to continue.
- Continue by selecting “Sign Up” or “Register” to create a new account.
- Then, fill in the required information, including the email address and password, and press the “Register” or “Register” button.After registering, you will receive a confirmation email. Please open the email, then follow the confirmation link to activate your account.
- After your account is activated, continue by opening the Minergate application again and logging in with the credentials that you registered earlier.
- Next, you will be directed to the Minergate dashboard. Please press the menu icon (usually three horizontal lines) to access the menu options.
- On the menu, select “Mining” or “Mining” to access the initial mining configuration.
- Finally, you will be presented with a list of crypto assets that can be mined. Then, you can set up your mining account by selecting the assets you want to mine and setting the mining intensity (hashrate) according to the device you are using.
Next, to choose the type of crypto asset to be mined, you can see the following guide:
- On the mining configuration page, scroll down to see the list of available crypto assets.
- Select the crypto asset you want to mine. For information, Minergate supports various types of cryptocurrencies, such as Bitcoin, Ethereum, Monero, Litecoin mining, and many others.
- After selecting an asset, you can adjust the mining intensity (hashrate) according to the capabilities of the device you are using. Make sure that you do not force your device to operate beyond its limits so that overheating or damage does not occur.
- After setting the mining intensity, please press the “Start Mining” or “Start Mining” button to start the mining process for the crypto asset you have chosen.
- Now, your device will start mining the selected crypto, and you can see its progress through the Minergate dashboard.
Is Minergate a scam?
Given its high level of reputation and popularity among miners or crypto miners, it’s hard to say that Minergate is a scam. For information, in the context of crypto, a scam is a fake platform or service that promises huge profits but ultimately does not deliver what is promised or even steals funds from users.
Minergate itself is not a scam. Besides that, this crypto mining platform, which has been operating since 2014, certainly has a fairly long history in the crypto world. Over the years, many users have used Minergate to mine various types of crypto assets and make regular withdrawals without any problems.
However, on a number of crypto platforms, including mining applications, there are changes that can occur drastically or significantly. Therefore, it is important to always do research and read reviews from various sources before deciding to use a particular crypto platform, such as Minergate.
Conclusion
In conclusion, Minergate is a crypto mining platform that allows Android users to mine various types of crypto assets using the computing power of their devices.
Minergate itself is designed to make it easier for novice miners and users who do not have deep technical knowledge to get involved in crypto mining without having to face the difficulties of managing additional hardware.
However, before engaging in crypto mining activities, it is definitely important for users to understand the risks and rewards involved. This is because mining, or crypto mining, is a high-risk activity, even though the potential profit is also high, along with the growth in the value of crypto assets.
In addition, keep in mind that, as with the use of any crypto platform, including Minergate, it is important to stay up-to-date with the latest developments regarding its security and performance.
So, now you know what Minergate is, how it works, its advantages and disadvantages, and how to use Minergate on Android.
Furthermore, to get information regarding the world of digital assets, you can also read other interesting articles about free bitcoin mining tutorials for beginners and mining rigs only at INDODAX Academy.
Come on, learn about crypto assets starting right now!
