How To Mine Ethereum & Make Money 2021 Tutorial! (Setup In 10 Minutes Guide)

the price of ethereum is sitting around four thousand two hundred dollars per coin right now and every single day i'm making around about a hundred and forty dollars per day by mining ethereum and then selling it for a profit and in this video i wanna show you exactly how you can actually go and set up to mine ethereum now a couple of months ago i went and did a video on how i make 100 per day mining ethereum and everybody wanted to actually see a full tutorial on how they could set this up so they could go out and make money by doing this and actually going and mining this cryptocurrency now if you don't understand what this is essentially you use the graphics card from your computer or a mining rig and you mine these cryptocurrency coins specifically in this tutorial ethereum and then you can actually sell that for money it's kind of like passive income and you can make money every single day by actually doing this now this is going to be a super quick tutorial perfect for beginners with no confusing coding and you can have this done and set up in 10 minutes the biggest problem with tutorials on how to mine ethereum is that a lot of them require complicated stuff doing all this crazy stuff that even i don't understand sometimes and i found the best way that's really easy beginner friendly and this tutorial on mining ethereum will show you exactly how you can go and get set up right now within 10 minutes to mine ethereum so make sure you stay tuned i'm going to get into this tutorial but before we do that if you're new to my channel we give away access to my courses every single video what you've got to do is smash that like button and then once you've smashed that like button find the emoji in this video once you find that emoji comment below what that emoji is and we will pick some winners for the next video so if you want to win access to every single one of my courses make sure you do that for a chance to win now let's get into this tutorial and i want to show you exactly how you can get set up quickly within 10 minutes to start mining ethereum so you could sell it for money online all right guys so the first step is very simple you want to go to google and put in the best ethereum wallets and then click on this link here or one of these other links down here and these will give you the best ethereum wallets now you need a wallet to store your ethereum in let me explain to you a couple of things here the ledger nano x and the ledger nano s these are called hardware wallets and these will hold your coins offline so they are a lot safer these are more advanced but i would recommend getting one of these at some stage if you don't have them already if you want to hold your coins on and this is also a hardware um wallet as well now if you want to actually hold your coins on your desktop and on your mobile this is a great wallet here called atomic wallet now with the ledger and um stuff like that the more safer options you can also view your coins on your desktop but your coins are on the blockchain and stuff so it's a lot safer and harder for people to get your coins if you have one of these but to keep this tutorial simple just go and download a desktop and mobile wallet if you are new to this and this is what we're going to use to get our ethereum address okay so you need some sort of wallet where you can get your coins sent to from your mining machine um however you're mining it whether you're mining it with a single gpu or with a mining rig now i would recommend staying away from this wallet i've had trouble with it in the past with it getting hacked i don't know if they've fixed it yet but i lost around about 50 000 worth of coins in this wallet some time ago now let's move on to the next step go and find yourself a wallet to download if you're a complete beginner and you don't have one yet i recommend the atomic wallet for now and then to be more safe for later on when you've got some more money buy a ledger nano for a safer option the next step is you want to go to miner stat dot com forward slash hardware forward slash gpus and what you can do is you can see how much money you will make per day from your graphics card now i'm running eight of these and i make around about a hundred dollars per day because i have eight so 18 times eight in my currency it's about 150 per day so go and find your graphics card your gpu in the list here and then you will see exactly how much you'll make on average every single day from one card okay very simple to do and all you've got to do is times it this number by how many cards you have so if you have a mining rig for example that's running um eight thirty nineties which i doubt you would because these are very rare you would make thirty five dollars per day times eight okay very simple equation to work out so this price is for one card just times it by the amount of cards that you have to get the total amount of money that you would make per day mining ethereum now the next step you want to head over to minerstat.com and you want to scroll down and there's two things you want to do number one you first want to download the windows mining software okay so click on this and download the software now mine is not going to download someone on a mac but go download miner stat download this and then install it on your computer but don't start it yet because you don't need it right now now the next step is you want to go back to minerstat.com and you want to go to get started and what you want to do is you want to create an account follow the steps and create your account and i'll come back in a second and you can choose a light version or a dark version all right i've just created my account now the next thing you want to do is want to hover over the right tab and there's going to be an access key you want to copy this access key down because this is the access key you will need to log in every single time okay you will need this access key now it is free to have one worker and to get started mining you can upgrade if you want but you don't need to upgrade go to add new worker what you want to do is you want to name your workout you can name it whatever you want you want to choose the type of graphics card that you have i'm going to use nvidia and then the system that you have ms os or windows and then you just want to leave everything like that and you want to go to add worker this is literally the best way to set all this up because it's all done for you it's very simple to do now you can um so you've got your access key here you can download the software here if you want if you haven't done it already but we've already done it so we don't need to actually do that now the next step is to go to um let's go to address editor first we'll do things around around a different way but go to address editor okay and i'm going to just um leave leave all of this like this you shouldn't need to change anything because it automatically populates you with the best mining pools here so for the ball section just leave this like this for the wallet section though you want to go up to wallet and what i'm going to do is i'm going to delete all of these addresses just to keep this simple so we have this nice and clean okay all right so in your wallet that you have downloaded i'm not going to show you um because i haven't downloaded one but you will have an address that you can send your ethereum to you can create an address once you have that address edit this here and simply just put in the address that you were given okay i'm just going to change this to a different number here and then i'm going to go save and then once you choose save the donation tab will go away and your address will be in here now you will need to create your own address from your wallet once you've done that put it in here and then click save that is all you need to do at this section the next section you want to go to worker configuration okay and what you want to do is make sure everything is the same as what i have in here you don't need to do any of these things like you don't need to overclock your gpu you don't need to do profit switching that's for advanced stuff you want to go down and make sure this is on here what this software does is it populates you with the most common mining pools and everything ready so you don't actually need to do anything so leave this as it is go down make sure it's on um simple you the advance is the same anyway but make sure it's on simple make sure it's on this here eth and then eat cash you can simply find that by typing in here and it's right there but make sure it looks exactly like this and then make sure the mining pool is this one here eth eu ethmine.org um 14444 okay just make sure it's the same as that and then on the wallet all you do is choose the wallet address that we put in okay and that's all i've got here and then that's that and then if you want to you can put in your electricity cost okay so for example you might pay i don't know 0.2 cents per kilowatt or whatever you want so if you want find out how much it costs you um for your electricity and then you can figure out and you can put it in here and this mining software will calculate that out of the calculation um so you can see your pure profit so for mine it takes out around about six dollars per day but in this case we're just going to leave that because we don't need to do that and then just click save changes and then what we want to do is we there's a few things so there's a few extra things here like mining calculator you can go and calculate this takes you back to where we were before and there's a few other things now this is actually all you need to do to to get started okay that's all you need to do now all you need to do is you then need to go and start the software on your computer just start it up and it'll automatically start and then the little green thing here will come on when it shows it online so if you go to work up all the stats will come up and what i'll do is i'll log into mine right now and i'll show you an example all right so when you actually start to run it for a few hours you'll start to get some more information like this like i said just follow the steps that i've done in this video and then simply open up the software on your computer and it will start doing everything for you you don't need to touch anything and what will happen is you'll see that the little green icon here will be on and you can click on worker and it's got all the information that you need so it shows literally everything how much i make in per day the amounts of watts that i'm using and all that sort of stuff and the pool and everything and then it's got all of my cards here don't worry if some of them have low efficiency that's actually quite normal but i have eight cards running here it tells you everything the temperature how much your fans are running i probably need to turn that down all of the information that you actually need it's got temperature down here it's got fans it's got your power consumption and then it's got your hash rate okay now this will not show up straight away it might take a day or two for this information to show up but i want to show you something um else go to balance monitoring now if this option is not there for you it should show up after a few days or it might be in the upgrade i can't remember but this is how you can check your balance so what you want to do is go to add new pool and you want to choose the pool that you're in and the standard one is going to be the um ether mine eh which is a standard one that we're running and then you want to put in your wallet address right here okay and then go add pull and then what it's going to actually do is after a few days so let me just get rid of this once you add it after a few days it's gonna it'll just have this here but after a few days it'll have this last update session and you can click this button view pool and what this will do is this will show you all the information on the actual address so you can see the payouts this is a new address that we've put in it's got the payouts we get paid out every uh eight days we just got paid out today um and it shows you all the information based on your address okay and that's how you can uncheck it and then it's got my my hash rate here it's got all of the information here that i need to see i can see my worker down here so this is a very good um place to go and actually find information on your address and to see if it's working and stuff like that and you do that by going down to a balanced monitoring and just doing what i showed you and that guys is how you can go out and set up ethereum mining so you can actually go and make money online by doing this now a bit of a disclaimer i have eight graphics cards so that's why i'm making a hundred dollars per day you probably won't make that you'll probably make around about 20 bucks with a standard card but it is a good little way to go make some money and you can easily set it up without any complicated coding within 5 to 10 minutes just like i showed you in this video if you want more tutorials on how you can make money online i will leave some videos up on the screen that will show you some of the best ways to make money online with my favorite method affiliate marketing don't forget to subscribe and any questions let me know in the comments below

Channel: Franklin Hatchett

Views: 1,006,512

Rating: 4.9058084 out of 5

Keywords: ethereum, ethereum mining, ethereum mining tutorial, how to mine ethereum, best way to mine ethereum, how to setup ethereum mining, setup ethereum mining fast, how to mine ethereum fast, ethereum mining tutorial 2021, ethereum 2021, ethereum mining guide, eth mining guide, how to mine eth, eth mining tutorial, mining ethereum, guide to mining ethereum, 2021 ethereum mining

Id: FR2ew-L4AsQ

Length: 12min 45sec (765 seconds)

Published: Wed May 12 2021