Monero is one of the coins based on CryptoNote protocol. Its prototype is Bytecoin, the first currency using this algorithm. It seeks to be the most untraceable and fungible digital currency. Monero’s level of privacy is higher than Bitcoin’s or any of its forks. The coin was launched on April 18, 2014. Learn more about Monero on the official website of the currency.
To start mining Monero on MinerGate, you should go to the “Miner” tab of our application, choose Monero and click “Start mining in the appropriate column. You can choose CPU or GPU mining option.
After you get some coins, you will be able to withdraw them to your wallet or to the cryptocurrency exchange.How to withdraw Monero to your wallet
- Choose a wallet for Monero. There are several types of clients to choose from, take a look at them here.
- Go to the Wallet tab of MinerGate app and click Withdraw button in the upper right corner of the screen.
- Choose Monero, enter the desired amount of coins (leave the field blank to withdraw the whole balance).
- Insert your wallet address in the Address bar and hit Withdraw button again.
- Your coins are on their way to the wallet!
- Choose an exchange where you want to withdraw your coins. (We recommend Changelly – the most trusted cryptocurrency exchange in crypto community).
- Go to MinerGate application, choose Monero and click Withdraw.
- The exchange will provide you with the Address and the Payment ID that you’ll need to enter to the application.
- Hit the Withdraw button.
- Your coins are on their way to the exchange!
Check all your withdrawals in the “Withdrawals history” section in your Dashboard.
Pool fees for Monero are 1.5% for PPS method and 1% for PPLNS method.