Hafez Financial Services


Ethereum Cryptocurrency Training!


Ethereum, known as the Queen of cryptocurrencies, is the second largest cryptocurrency on the market. The network is the most popular cryptocurrency after Bitcoin with the idea of “decentralizing everything” and has many supporters in the cryptocurrency community. Due to the high popularity of this network, many people have joined its miners group and this is one of the interesting features of open blockchain that everyone can participate in extracting and verifying transactions.
Ethereum mining which is mostly done with a graphics card, has been a very lucrative activity for Geeks or computer Nerds in recent years. In general, to mine Ethereum, you must go through the following process:
1. Preparation of powerful hardware system (Mining Rig)
2. Create an Ethereum wallet to receive the extracted Ethereums
3. Start by running mining software and joining the mining pool.
This work is like an investment, and every investment has a risk. Therefore, mining Ethereum or any other cryptocurrency does not mean electrifying the device and getting rich.
Many factors such as Ethereum price, electricity cost, hardware cost, network changes and hardware depreciation play an important role in mining profitability.
Also, while it may seem easy to start mining, this activity has many technical complexities that ignoring them can sometimes lead to hardware failure and even fire.
Mining requires a powerful hardware system and electricity. On paper, this can also be done with home computers or laptops; But it has no economic justification and is not cost-effective.
These days, most of the Ethereum minig is done using a graphics card (GPU).
Of course, there is also a special miner machine (ASIC) for Ethereum; But the graphics card is still the main hardware for mining Ether.

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