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7048e6c added guide How-to-mine-Monero-XMR-without-a-mining-equipment (kenshirothefist)
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Riccardo Spagni 2016-09-19 21:37:45 +02:00
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## How to mine Monero (XMR) without a mining equipment?
If you don’t have a profitable mining equipment, nor time or
money to invest into building it, you can still mine Monero with NiceHash.
NiceHash is a hashing power marketplace. Sellers of hashing
power, i.e. miners, provide the hashing power for buyers (those who want to buy
a service of mining a certain coin). Hence, NiceHash can provide you a massive
hashing power in short amount of time. You won’t have to wait for years to see
if you will make a profit or not and you can control which coin, at which pool,
and for how long you want to mine.
### **Step 1:** Create new account at NiceHash
Visit [registration
page](https://www.nicehash.com/?p=register) and register with your e-mail address.
### **Step 2:** Deposit some Bitcoins to your account
You will mine Monero, but you can buy hashing power at
NiceHash only with Bitcoins. You can always withdraw unspent Bitcoins from your
account back to any Bitcoin wallet.
Visit your [wallet
page](https://www.nicehash.com/?p=wallet) and make a deposit. Note that the minimum price for placing an order
equals 0.01 BTC.
### **Step 3:** Find a suitable pool for mining and add it to your pool list
Selection of the pool plays a big role in the final amount
of mined cryptocurrency. Make sure the pool you have selected can handle
massive hashing rate and loads of shares, especially from a single connection.
You can find a list of Monero pools [here](https://bitcointalk.org/index.php?topic=583449.0).
Note that you will probably have to register an account at
selected pool as well. The pool will provide you with all the information you need.
You can save your favourite pools at [this page](https://www.nicehash.com/?p=managepools).
### **Step 4:** Create new order and start mining
When creating a [new order](https://www.nicehash.com/?p=orders&new), make sure you
select CryptoNight algorithm for mining Monero. If you want to first learn more
about placing an order with NiceHash, we recommend you to read this [frequently asked question](https://www.nicehash.com/?p=faq#faqb0).
If you want to bid on
hashing power select Standard (bidding) order type and if you want a fixed
order that cannot be outbid, select Fixed order type. The status of marketplace
and approximate prices of mining can be checked at [live marketplace](https://www.nicehash.com/index.jsp?p=orders).