The cryptocurrency industry is emerging as an alternative to the traditional banking systems that can be accessed globally. With that happening, people are now switching to performing all their trade and financial activities using cryptocurrency. As it is the beginning of a new digital era, people are always looking for guidance, assistance, and a valid source of information that can help them. Reddit provides them with a network where they can discuss, dive, and share their opinions, views, and real-life experiences and find answers to their own doubts. In this article, we have shortlisted 10 Best Subreddits for Crypto Mining that might help you understand the idea of what crypto mining is and share your views on the same.
Table of Contents
What is Cryptocurrency Mining?
The transactional process involves solving and computing complex cryptographic equations and functions with the help of computers. This process involves recording data blocks and adding that transaction records to a public record (ledger) known as a blockchain. Further, to ensure that only verified crypto miners are performing mining as well as validating transactions, a proof-of-work (PoW) consensus protocol is there. Proof of work secures the network from any external attacks.
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1st Best Subreddits for Crypto Mining: r/cryptomining
Crypto mining can help a user acquire cryptocurrencies by solving and finding answers to cryptographic conditions using PCs.This community offers a monthly discussion thread for all CryptoMining related things. The community members must follow a set of rules which include that the members should not post low-quality content, no advertising or selling anything(including referral links), Use correct Titles and Correct Flairs.
Also Read: Top 7 profitable mining pools for beginners
2nd Best Subreddits for Crypto Mining: r/gpumining
This community of people who are GPU mining enthusiasts, both professionals, and hobbyists. Here, you will come across discussions and information about Ethereum, Z-coins, and other Alt-Currency Mining. Further, They hold monthly thread discussions as well as purchase a monthly Powerup subscription included with paid Reddit Premium, which can help the community and yourself unlock perks. Similar to other communities, the members are expected to follow a set of rules.
Also Read: What to mine with 4GB Mining Rigs?
3rd Best Subreddits for Crypto Mining: r/EtherMining
r/Ethermining is a community formed for all the Ethereum enthusiasts and is solely focused on discussing and sharing the information regarding mining the cryptocurrency Ethereum. By being a part of this community, they can execute their work by asking questions or receiving news about mining, hardware, software, profitability, and other related items. In addition, they have posted a detailed and comprehensive guide to mining.
Also Read: Bitcoin Mining Management Software Features
4th Best Subreddits for Crypto Mining: r/MoneroMining
With more than fifty-five thousand members, this is a subreddit dedicated to the Monero (XMR) users community to learn how to mine. Moreover, there is a separate thread with answers to all the Frequently asked questions for all beginners and new members. Strict rules are set so that the members don’t post any “FOR SALE” posts or any verbal abuse, Referral Links, or codes. Furthermore, they can’t promote any New Altcoins or short-URLs.
Also Read: Top 6 Softwares for Managing Bitcoin Mining
5th Best Subreddits for Crypto Mining: r/NiceHash
NiceHash claims to be a leading platform for mining and trading cryptocurrency. You can easily earn cryptocurrency by connecting your PC and performing trade activities with over 60 coins over their exchange. Furthermore, there is a thread for all new community members to refer from, which has the links that direct you to the video of the proper tutorials and guide videos on mining that can help you understand and execute its process.
Also Read: What is Cloud Mining? [An Overview]
6th Best Subreddits for Crypto Mining: r/BitcoinMining
Created back in 2011, this is the official bitcoin mining forum globally. Unlike other subreddits, they have neither a separate thread for monthly discussion nor another one for frequently asked questions which makes it a little hard to follow for the new members or beginners to understand. Additionally, there is a separate tab that mentions the subreddits of the moderators so that you can reach out to them anytime.
Also Read: A Simple Guide to Mining Pools
7th Best Subreddits for Crypto Mining: r/EliteMiners
With a comparatively smaller but constant number of growing community members is the subreddit of r/ElieMinners. This subreddit has two sections dedicated to Beginners Builds, Frequently asked Questions, Unlocking Engineering, Mining groups, Mapping asteroids, etc., and secondly, to Mine and sell location. It has mentioned everything a member can access in separate sections in order.
Also Read: 7 Best Ways to buy Dogecoin
8th Best Subreddits for Crypto Mining: r/dogemining
This community consists of a community that wants to know about Dogecoin Mining. In contrast to the other subreddits, there are no rules or sections that help new members to catch up, which might make the subreddit difficult and overwhelming. Apart from that, there are links and threads of discussion on a wide range of topics and detailed discussions about mining which a member can utilize and use.
9th Best Subreddits for Crypto Mining: r/litecoinming
r/litecoin has been introduced as a subreddit for all its users and members to discuss Litecoin and revolving issues and doubts about mining Litecoins. The community was formed in 2013 and is currently growing at a continuous pace. Known as the “lite version of Bitcoin,” Initially Litecoin was a strong competitor of Bitcoin. However, it has many similar features as that of bitcoin while also adapting and changing some other aspects where the development team felt the need for improvisation
10th Best Subreddits for Crypto Mining: r/vertcoin
Another active and strong community of members is Vertcoin, a Graphic card mineable cryptocurrency created in 2014. Moreover, They have a discord channel as well to help the member in case of any inquiry or doubt instantly by clicking on the given section. There is a “Mine Vertcoin” section that redirects the user to the official website of Vertcoin, from where you can download Vertcoin one-click miner.
Conclusion: Best Subreddits for Crypto Mining
Reddit is a worthwhile resource that can prove to be good if utilized. These subreddits might help the user make a decision based on the discussions where community members share their personal experiences, opinions, advice, and perspective. The list of these subreddits can provide critical insights and help anytime, depending on which cryptocurrency you are mining.
Frequently Asked Questions
Q1. Is Bitcoin Mining Legal?
A1. Bitcoin mining legality depends entirely upon the geographical location. For example, in countries like China, Russia, Bolivia, Algeria, and Ecuador, bitcoin trading is restricted or outright illegal. On the other hand, EU countries like Finland, Germany, France, and others, as well as the United States, Canada, Australia, and the UAE, welcome bitcoin and is widely transacted.
Q2. Is cryptocurrency mining profitable?
A2. The profit you can gain from mining depends on several factors:
1. The price of the electricity
2. The availability and cost of the computer system.
3. The difficulty in providing the services
4. Miners can profit if the price of cryptocurrency coins exceeds the cost to Mine.
Q3. What are the requirements of mining?
A3. A miner will need a set of tools to trade. These include Hardware GPU (graphics processing unit), SSD for crypto mining, or ASIC (application-specific integrated circuit), Mining software, A wallet, Preferred mining pool (if one chooses pool mining option instead of solo mining)