WHAT IS CRYPTOCURRENCY MINING?
Cryptocurrency Mining is the process of validating transactions on the blockchain by solving complex mathematical problems, miners receive rewards for completing blocks of verified transactions that are added to the blockchain. That’s why we are bringing to you today, how you can mine Shiba Inu effectively.
WHAT IS SHIBA INU?
Shiba Inu is a meme ethereum based ERC-20 Token created anonymously by an individual or group named “Ryoshi” in August 2020. SHIB is an alternative to Dogecoin and is labeled as “DOGECOIN KILLER” with the goal to the value of Dogecoin.
The Shiba Inu Ecosystem also includes:
ShibaSwap: ShibaSwap is a DeFi platform that aims to provide a secure place for trading cryptocurrency while staying decentralized.
Shiba Inu Incubator: The Incubator aims to attract fellow dog-inspired artists from all over the world into the NFT market by featuring popular artworks like painting, photography, and digital rendering, etc.
Shiboshis: Shiboshis are 10,000 Shiba Inu-generated non-fungible tokens (NFTs) existing on the Ethereum blockchain, each Shiboshi has various characteristics that make it unique and valuable.
HOW TO MINE SHIBA INU COIN
How To Mine Shiba Inu Coin
1. GET YOURSELF A SHIB WALLET
You can get a shiba wallet on Binance or download Trust Wallet, Exodus, or Atomic Wallet for you to get your coin address and make sure you keep the seed phrase in a safe place.
Make sure you can receive SHIB to the exact address on the chain you choose (ERC20), otherwise you may lose your coins. Proceed to the next step once you have your SHIBA INU wallet address.
2. DOWNLOAD UNMINABLE SOFTWARE
unMinable is a Windows-based program that allows users to mine a variety of cryptocurrencies. The program is available for download for free, with a standard mining fee of 1%. It currently supports these payout networks: ETH (ERC20), BSC (BEP20), KCC (KRC20)
Go to unMineable’s official website and click “Download.”
Install the unMineable beta miner software on your computer.
Extract the file in a folder on your computer
Double click on the “unMineable Miner 1.1.0-beta” file, for it to run on the unMineable desktop app.
3. START MINING
You’ll also need to download PhoenixMiner, a tool that works with unMineable.
Download the PhoenixMiner “PhoenixMiner_5.6d_Windows.zip”
It should be extracted into the same folder with the unMineable application.
Find the file named “PhoenixMiner.exe” and take note of where it’s located.
Click “Continue” after relaunching the unMineable program.
Click on “Graphics Card (GPU)” and click “Next.”
Click on “Update miner file location,” and it will prompt you to locate the PhoenixMiner.exe file. Once you’ve found it select it and click “Open.”
Click on “Next.”
Choose Shib as the cryptocurrency you would like to mine
Enter the SHIB wallet address in your Trust Wallet and tap
Click “Start,” and the application will immediately start mining SHIB.