Coinwarz Review - How to use one of the best Mining Tool websites in the Crypto universe.
1) Go to Coinwarz and enter the details of your mining equipment - Before immediately going after the alt coin at the top of the list, do a little research. Start by visiting the coins main website to verify that it looks professional, is listed on exchanges, has mining pools and is going somewhere. You should also take into account who the creator(s) of the coin is, current team and any internal ties it may have. For instance, the creator of Litecoin works at Coinbase and his brother is at BTCChina.
2) Find and join a mining pool – Don’t waste your time mining a coin when you could be making more money mining another! Find and join a mining pool for the coin you believe is most profitable to mine at the time by searching google, i.e. “dogecoin mining pool”. Sign up for an account how to mine bitcoins start and add a worker. You will then enter these details into your mining application. You might be running BAMT, a Linux distribution made specifically for mining Scrypt crypto coins. If you're using windows you can try cgminer or bfgminer.
Coinwarz searching for the most profitable coin!
CoinWarz is another service where you can keep track of the profitability of the various alternative crypto coins in order to hunt for the most profitable one at the moment to get the best out of your hash rate, especially if you do not have a lot of it available. This service provides a mining and profit calculator that works with the supported cryptos, so you get actual profitability data based on your hash rate and power consumption for each crypto coin. It also checks and reports the best exchange rate at which exchange as this is also an important part of calculating the crypto profitability correctly. The list of alternative cryptos includes both script-based ones as well as sha-256, so this service is useful not only for GPU miners but also for ASIC miners that are interested in making some more extra profit by mining alternative cryptos instead of LTC or BTC directly.