Mining calculators are used to compute and translate what you have acquired in your cryptocurrency network.
1. Generating
When you first open the mining calculator page, you will see a quick summary of how many coins, merged mining coins, multi-algo pools, and algorithms are available in the mining calculator. Then you will be able to:
- Name your dataset;
- Select currency;
- Set electricity costs;
- Filter algorithms;
- Filter low volume coins and multi-algo pools;
- Load data from the hardware database (if the speeds are available).
The calculator can be used the same way for any of the GPUs or ASIC miners. If you see that our numbers are different than what you have reached on your mining setup, you can always edit the speeds and the power consumptions – even after you have already clicked Calculate .
On the interface, you will see the result page in which coins, algorithms ,costs,rewards,profit and the like are where at.
Note: Theres two different ways to generate mining calculator results as per the Minerstat.
- You can click on the mining calculator link shared by some other user which will import the results to your own mining calculator and save it as a separate dataset.
- You can export the results of the benchmark to your mining calculator.
2. Reading
Through the mining calculator, coins, algorithms, and hardware, you will see different tags, notifications, and data that will catch your interest.
Low volume coins
This kind of coins means that their trading volume is below 3 BTC for a day.. Low volume coins will appear every time the coin’s last 24h volume on the exchanges was less than 1,000 USD. These coins are hard to sell because of their low volume and can fall into the speculative category.
Spikes
Spike tag will show every time the coin’s recent price or reward jumped up. Coins with frequent spikes are not reliable and can indicate that the price or difficulty are often changing.
Multi-algo pools
Multi-algo pools are pools on which you can mine different algorithms and get paid for mining in one currency.
If you see a coin with unrealistic reward or exchange rate , it could be that the variables for calculating the estimated reward are unrealistic. This could be because of these reasons:
- Difficulty significantly dropped for this coin;
- The coin has low volume and no one is mining it;
- The market price provided by our 3rd party provider is incorrect;
- The algorithm has changed and the data wasn’t updated.
Take note that estimated earnings are calculated by multiplying the price and estimated reward. With this, any factor that can affect either of these variables will have a ripple effect on the displayed estimated earnings.
You will always have to check which exchange can you sell coins and also the pools in which they can be mined.
