There are a lot of cryptocurrencies out there, and many of them can be mined. But there is the sort of coin that you can only buy, using the PoS (Proof of Stake) mode of operation (rather than PoW / Proof of Work).
If you want to acquire your favorite PoS coin using your hashing power, you would have to first mine a classically mineable coin, and then swap it for the PoS coin you want. That's of course a viable way and pretty much what most people do. Some of the available swapping portals include:
- PancakeSwap: Easy to use, features BSC-coins, works well with the MetaMask wallet
- : Also easy to use, works with ETH-based coins, also works well with MetaMask
- : Easy to use, lets you swap between 15.000+ coins; same, works well with MetaMask
There are lots more - but in the end they all let you swap certain coins for others for the current exchange rate. These swapping portals are one portal into many DeFi coins that you don't see on large centralized exchanges like Crypto.com
Skip the Swap
Now let's say you don't want to swap; be it for either the reason that you don't want to deal with it, or maybe you don't trust swapping sites. You still have hashing power on your hand and want to collect e.g. $BABYDOGE. There's one solution you can go to: Umineable.com
Unmineable is basically a mining pool. You download your favorite miner (e.g., ), use their configuration wizard to set up your rig, and start mining.
A configuration line from the wizard looks like this once done:
./t-rex -a kawpow -o stratum+ssl://kp-eu.unmineable.com:4444 -u SHIB:WALLET_ADDRWORKER_NAME#dd22-v4bo -p x --no-strict-sslWith this line, you mine using the algorithm, using servers located in the EU, and get paid via into the BSC wallet address you provided. You can set a worker name too, and your referral code goes after the "". The referral code is not just for making someone else happy, but also reduces you pool fees from 1.00% to 0.75%. So be sure to use one!
Watching the Cash Flow
Once you start hashing with your miner, you will see the coins dribble in. You can see how your miner performs and what your current funds on Unmineable are via their status page. For this purpose, just go to this page, choose the coin you're mining, and enter your wallet address. The next thing you'll see is how much of your coin you currently have, and how the mining process goes:
Your workers are listed on the lower right, alongside their hash rate. In my example, I currently have 152 on my address. Once I reach 150.000 , I can request a payout into my wallet. This varies for different coins and chains, so check your coins to get the actual numbers.
Final Words
Now you know how to mine unmineable coins. In the background the swapping still occurs, but you don't have to concern yourself with it, and won't need to regularly check when to actually trigger a swap.
If you feel like having Unmineable set up everything on your system, you can follow their guide to set up their easy to use mining app. This is a matter of taste though and doesn't change the results.
I'm grateful for anyone using my ref code (dd22-v4bo), although that's mandatory of course. I appreciate the support though and it helps me to continue writing articles about this kind of thing!
