Use an online mining calculator to calculate mining profitability. Mining rigs can be relatively expensive and consume a lot of power. Playing with different setups on an online mining calculator can help you determine whether it’s worth it to you to start mining
CryptoCompare has a mining calculator available for CRM at https://www.cryptocompare.com/coins/crm/.
If you’re just getting started, you may not have all the information available, such as mining pool fees or power cost. However, the more information you provide, the more accurate the profitability estimate will be.
Buy ASIC miners and a power supply for your mining rig for Skein algorithm. An ASIC miner is an application-specific integrated circuit (ASIC) designed specifically to mine Creamcoin. Essentially, it’s a computer chip that needs a power supply to run it. ASIC miners vary in price depending on their hashing power and their efficiency.
For example, the Baikal BK-X has a maximum hash rate of 5 GH/s and consumes 120W of power. Baikal BK – G28 has a maximum hash rate of 14 GH/s and consumes 300W of power.
You can monitor the price of Cream to calculate changes in the time it will take to turn a profit. Profit may also vary based on the price of electricity.
Connect your miner and boot it up. Connect your power supply to your ASIC miner, then connect your miner to your router. Use an ethernet cable to connect your miner – a wireless connection is not stable enough.
Type your router’s IP address in a web browser. This will take you to your router’s admin page. Click on “Connected Devices” to find the IP address for your ASIC miner. Copy and paste the IP address for your ASIC miner into your web browser. This will enable you to configure your miner.
Tip: You can access your router and your ASIC miner from any computer or electronic device on the same network as your miner – even your smartphone. Make sure your network is protected by a firewall and a strong password.
Download Cream mining software to your computer. You need to download software so you can mine Creamcoin. There are a number of different GPU mining programs to choose from. These are both command-line programs, so if you aren’t particularly tech-savvy, they may present a challenge for you.
Join official Creamcoin mining pool. Mining pools are groups of miners that pool their hashing power to mine Cream more quickly. A pool enables you to compete with massive mining conglomerates that have mining farms. You don’t need to pay anything up front to join a mining pool. Instead, the pool takes a percentage of the Creamcoin mined (typically between 0.5 and 1 percent).
ZergPool, zpool.ca are some popular, successful, and well-established mining pools.
Without a mining pool, you would have to mine potentially for months before you’d see any profit. With a large pool, it’s possible that you could start earning CRM within a few days.
Configure your miner to work in your mining pool. Once you’ve chosen your mining pool and set up a worker account, access your ASIC miner configuration screen and enter the IP address for your mining pool.
Then enter the worker name and password you created for the mining pool. When you’ve entered this information, save your settings.
As soon as you save your settings, your miner will start working in your mining pool. You can go to your mining pool account to see your status and evaluate your miner’s performance. However, keep in mind it may take up to an hour for your mining pool to display your miner’s hashing rate.
Transfer any Creamcoins you mine to your secure wallet. As you mine CRM, it will show up in your mining pool address. Your mining pool may have a daily, monthly or quarterly payout schedule, or you may be responsible for manually moving your CRM from your account to your wallet.
Some mining pools may only allow you to transfer CRM to your wallet once you have a certain amount, typically around 10 CRM.