[Effective use of GPU] Binance Pool: How to mine Ethereum (ETH) [Minerstat]

2021/2/282021/12/2

I made my own high-performance computer for gaming and machine learning, but when I didn't use a graphic board, I felt it was a waste.

So I learned that GPU mining looks good. There are many virtual currencies that can be GPU mined, but the profitability of Ethereum (ETH) continues to be extremely high now.

Here, on the main PCAs one of the utilization of GravoBinance Pool (Here's how to GPU mining ETH in Binance Mining Pool).

Reasons for choosing Binan Spool

High transparency

Other famous mining pools include Miningpool hub and Zpool,It seems that some of them are stealing hash rates more than they have announced..

You can rest assured that Binance Pool always displays the hash rate in real time.

Stable and highly profitable

minerstat (a site that handles mining software and statistical data)hereYou can see the profitability rankings by various mining pools and GPUs.

Gravo's basic Ethash (algorithm for mining ETH) is profitable, but the binance pool is stable and high.

Minimum fee

The pool usage fee is 0.5% for ETH, which is cheaper than other mining pools.Rewards are paid daily according to the hash rate provided, and the pool and exchange wallet are connected with zero remittance fees.

In other pools such as Nicehash, you have to wait until the minimum withdrawal amount is accumulated (it often takes days for mining with one graphic board), and even if the withdrawal amount is finally accumulated, the remittance fee is heavy It's coming to me.

Considering that you can immediately enjoy the benefits of Binance, the world's largest crypto exchange, it seems more attractive than Nicehash and others. A brief comparison with Nicehash is as follows ↓

	Binance pool (ETH)	Nicehash
Pool usage fee	0.5%	2%
Withdrawal fee	None (Pay directly to your wallet)	> 0.1%
Minimum payment amount	None (Pay directly to your wallet)	From 0.025 ETH

reference:How to choose a good mining pool: what you need to know to protect your bottom line

How to mine ETH with Binance Pool

The overall flow is

1. Preparation of necessary equipment
2. Opening a Binance account
3. Installation of mining software (minerstat)
4. minerstat settings
5. Check if it can be mined

is.I will explain step by step.

Preparation of necessary equipment

Here is the minimum required to perform mining.If you have a gaming PC, that's OK.

• PC body
• GPU (either Nvidia or AMD is acceptable, but VRAM requires 4GB or more)
• Stable network environment
  

Opening a Binance account

Binance➀ Exchange accountと② Account for mining poolYou need to get two of them.

➀　BinanceCreate an account for.
(From here, 10% of the transaction fee will be kicked back in the referral campaign. Please do not hesitate to contact us.)

Click here for an explanation of the registration procedure by Binance official ↓

②　Binance PoolOpen an account for mining from.

Please refer to the official page for detailed registration method (English page, but browser translation can be used).

In addition, when registeringMining account nameMake a note of it as it will be used in later settings.

Installation of mining software

Install software to execute and manage mining on your own computer, and connect your own computer to Binance Pool.

Mining management softwareminerstateBut the UI is good and easy to use(There are also HiveOS, MinerOS, etc., but the amount of mining using a surplus graphic board in the Windows environment is over-engineered)

minerstateHas all the necessary functions such as "tools for executing mining calculations (GMiner, Ethminer, etc.)", "benchmark measurement function", and "PC / grabber status monitoring", so you can create an environment just by installing this software. It will be ready.

After registering from the link below, download and install the software from "Software" → "Windows mining".

minerstat settings

➀: Worker construction

Make the mining management software recognize the Worker (device that executes mining).

1. workers pageAdd Worker by specifying GPU maker and OS from

2. Get access key
3. Execute minerstat.exe → Login with access key and Worker name

②: Worker config settings

Fill in the required fields to connect from worker config to Binan spool.

-Connection settings to the pool

To connect the worker to the Binance PoolAddress editorEnter the tag and address as shown in the image from the page.Other than the port number "1800", the available pool addresses areplease use this form.However, any port will connect you to the Binance Pool server in the best location.

TAG:	ETH-BINANCE
POOL ADDRESS:	stratum + tcp: //ethash.poolbinance.com:1800

-Wallet registration

(WALLET : BINANCE) And add tags. The wallet address is Binance PoolMining account name.

・ Mining client settings

Select the client (corresponding to the part that executes the calculation) to be used for mining.
Performance comparison of ETH mining execution softwareI chose GMINER, which seemed to be the best.

• Default client: GMINER
• Coin: ETH
• POOL: ETH-BINANCE
• Wallet: BINANCE
• Password: x

Try to start mining

Start mining with "Start minig" from the desktop application.

minerstat administration pageYou can check the estimated revenue, GPU power consumption, wattage performance, temperature, etc. (Since you can see it even if you access it from mobile, you can see the status even when you are out and you can also instruct to stop / restart mining).

Binance worker pageIn, it is not reflected immediately after the start of mining, but after about an hour, you can see the real-time hash rate and profit.

By the way, the mined ETH is stakes as it is to increase profits.

Summary of methods, advantages and disadvantages of staking ETH with Binance

We also recommend optimizing your GPU settings once GPU mining is stable.This reduces power consumption and GPU load for efficient mining.

Apply graphic boat mining optimization settings in Minerstat

reference
-3 steps to set up a Windows node
-Binance Ethereum Mining Tutorial