Ethereum is an open-source decentralized cryptocurrency that has the capability of executing smart contracts and scripts by making use of its own blockchain. Powered by Ether cryptocurrency, Ethereum possesses more computing power. Listed on major Bitcoin Exchanges, Ether (ETH) can be purchased through different ways of investment. Alternatively, Ether can be created through mining.
In simple words, Ethereum mining involves use of computer hardware in order to run ‘proof-of-work’ algorithms. Users or miners who want to purchase a specialized hardware can start mining on their own. In addition, miners can also rent some hashpower from industrial data centers in order to mine Ether for themselves. Continuing the discussion, here is a guide in which miners will learn how to buy 24 months Ethereum mining contract from Hashgains (a leading cryptocurrency mining service provider).
However, there is no guarantee that miners will make good returns from this investment. To begin with this easiest way of Ethereum mining, follow the below-mentioned steps –
- Register with HashGains:First of all, visit HashGains.com in the web browser. Thereafter, click on sign up icon at the top right, then post that register your account by entering your personal information like email address, password, and sign up. Then, you will receive a notification of your account created. Click on Start Mining Now icon. Scroll down in order to find an Ethereum mining contract. According to your budget, choose from Topaz, Ruby, Emerald, and Sapphire mining plans that have contract duration of 24 months. You can easily get to know the hashpower amount as it will be displayed there.
- Select Payment Method:HashGains accept numerous kind of payment methods, such as credit card, Bitcoin, Ethereum, and Paypal. However, the best method to make use of Bitcoin in order to purchase the hashpower. In case, you do not possess Bitcoin, then follow HashGains guide for registering your account. If you want to use credit card, then some fees will be charged for processing the amounts. Once you have selected the payment method, then click continue. Further, take a look at your order specification to clear any doubts or double check the things. Then, view the agreement again and accept the mining terms and conditions. At the last, click on confirm order icon.
- Process Ethereum Payment:In case, you choose to make the payment in Bitcoins, then Hashgains website will provide QR code and payment address in order to complete the payment process. The provided address is only valid up to 30 minutes. Then, you can note down the BTC amount and address that you have to pay. If you are making use of PayPal in order to invest in Ethereum mining, then to continue the payment a link will be sent to your email id to confirm withdrawal. Once your order is processed, you will get an email form Hashgains or you can check your dashboard for the hash power amount that is purchased by you.
- Manage Payouts:Once a mining contract is purchased by you, then payment address will be required by Hashgains in order to receive Ethereum. For this, open a browser and visit your account in order and then click on your wallet that will be on top. Then, paste your wallet address and scroll down to save.
Post that, you can check out your received payouts in your address. In case, the sent amount is small, then mining server will accumulate the same and send this to your Ethereum address when it will become a larger one.