Electroneum caught my attention this week. It’s a new coin that opened on it’s first exchange in November 2017. It’s being run by a British company, and raised significant money during it’s ICO. It has a proper team behind it, and looks pretty authentic.
It’s currently quite profitable to mine. Okay Electroneum is awkward to then cash in on, as you can only offload it on Cryptopia right now, but it’s probably worth holding what you mine right now anyway, at it’s market cap is still super low and if they can land more exchanges that value may well go up.
Electroneum was designed to be mined on phones. A stupid idea, that clearly nobody was going to roll with. However, you can also mine it on CPU and GPU. Let’s look at how.
The first thing to know, if you’re a power user is go here and read the bitcoin talk thread, i’m going to simplify things here, but that’s the whole shebang if you’re already experienced and want a more complex answer.
How to get a wallet:
You can probably mine to Cryptopia directly, if you want to, although that’s probably a bad idea. Alternatively you can get a paper wallet directly from Electroneum. I have no idea right now how to withdraw funds from the paper wallet, because as I type Electroeum’s app is down. I’m sure you’ll do it through the phone app, once it is back up.
What pool to use:
Electronium have an official pool, with a ridiculous 7% fee. Skip that.
The best pool i’ve found is pool.electroneum.space which has sensible fees, plenty of users, and has a pretty helpful getting started page.
How to mine:
So if you just want to CPU mine on your laptop or low end desktop, Electroneum have a really simple mining app here. You can just start with that. You’ll need your wallet address from the paper wallet mentioned in the paragraph above- it’s the long code under “Public Wallet”, copy and paste it in, making sure you get the whole thing (I had to copy line by line).
If you want to GPU mine, you need any cryptonote miner. You could use Claymore’s miner.
If you have trouble with Claymore, like it did, then try XMR-STAK if you’re on AMD, or here’s a Nvidia version The config file is a bit awkward to set up. I have a single AMD GPU in my computer, so I set gpu_thread_num to 1, and platform_index to 1 (I think that’s AMD only, so leave platform_index at 0 for Nvidia). I deleted the GPU config lines for everything except index 0, and that seems to work fine. You should be able to see action happening on the pool page inside about 10 minutes.
So in Summary: