Minergate is a Cryptocurrency mining pool and GUI miner. Billed as incredibly easy to use, Minergate is a quick download and click to run. It almost seems too easy.
Updated January 2018: The general consensus is Minergate is safe. No reported theft of coins has been reported in the cryptocurrency communities. Is it the most efficient? Definitely not. Is it easy? Yes. If you want to dip your toes in mining for coins for fun – this is a great way to do it. Read on to learn more.
Based on community feedback outlined below, if you absolutely want to use Minergate, make sure not to use it on a computer with keys or other mining data for any other program. We recommend setting up a virtual machine and mining inside of that to try it out.
Minergate is built for the casual miner – not the sort of person who wants to spend thousands on a custom machine.
Despite community distaste for Minergate, the company has a history of paying out correctly and promptly.
Signup here and mine with caution.
Which Currencies Will Minergate mine?
Minergate allows the user to mine the following cryptocurrencies:
- Aeon Coin
- Bitcoin Gold
- Ethereum Classic
But is Minergate safe? Is Minergate a virus? How is it legit?
Minergate was started by the same organization behind the Bytecoin scammers. With a nasty history, it is incredibly hard to feel trusting of a new program, polished and nice looking. However, after three and a half years of operations, miners have always been paid.
The downside? Contrary to all the other miners, Minergate is a closed source program, meaning it cannot be audited for safety. By running the Minergate program, you have no idea what is running on your computer and what data is being collected. This is a scary thing.
In addition, strange data is being added to every minergate block which is not needed – no one knows what it does or what the data is being used for.
We hope the Minergate team sees this post and chooses to open source their program, upon which we would love to whole heartedly recommend using their service. Until then, this is a caution venture.
So is Minergate a virus?
Windows will mostly likely come up with a notice claiming MinerGate is a virus. This is normal Windows behavior, but no, you did not just download a virus – as long as you downloaded from the link above at minergate.com.
Minergate is extremely easy to use – this means they will pay slightly less than other mining pools. As long as you are willing to sacrifice a small percentage for a nice looking and easy GUI, then have at it.
Fees vary from 1% to 1.5%.
Activate Smart Mining
Smart mining is a very nice innovation of MinerGate and it basically switches the coin you’re mining, based on the ROI. In order to do that, MinerGate gets the current prices of all the potential coins you can mine, makes an average, and picks the most profitable coin. The time window is one hour, so you will always mine the coin which was the most profitable during the last hour. You may find this to be extremely useful because it allows you to create an auto-pilot setup. Sort of an AI which decides how to spend your precious hashing power, knowing that you will always get the best results.
You may also be interested in: Quick Tips for Mining Scrypt Coins