The Know-how Required for Profitable Mining (2024)

Why to mine Syscoin?

One key aspect of using Syscoin as means of exchange, is the extremely low fees. Combine that with the innovative blockchain infrastructure, which intertwines users and businesses, and you have yourself a coin with great potential. The goal of SYS is to be mineable and tradeable everywhere, thus allowing the creation of marketplaces like Amazon.

If you need further incentive to start mining Syscoin, you should be aware that it can be procured using the same hardware you may already own for mining Bitcoin. SYS’s Proof-Of-Work mechanism makes it possible to use application-specific integrated circuits (ASICs). Owning SYS coins is a chance for you to gain access to an unlimited inventory of items in a decentralized marketplace, which isn’t governed by corporate or political interests. Learn how to mine Syscoin in the following paragraphs.

What is the best way to mine Syscoin?

The developers of SYS have enabled the possibility of merge mining with Bitcoin. In a nutshell, Syscoin piggybacks the blockchain of BTC, further improving upon an already secure network. As such, it also uses the SHA-256 hashing function and the best way to mine is again ASICs. We compiled a list of the best miners for Syscoin in the mining hardware: section later in the article.

Every benefit we’ve already mentioned is further exaggerated when you start mining in a pool. We recommend you do so, as you’ll be able to receive a reward more frequently, compared to mining solo. Despite sharing your earnings proportionately with others, it’s more profitable in the long run. We’ve provided you with some of the best Syscoin mining pools in the next sections.

What do You Need to Start Mining Syscoin?

Mining requires powerful hardware, which will generate the needed hash rate for discovering the blocks in the chain and earn you some coins. To be able to do so, you would need to supply it with enough power, depending on the total consumption, and a reliable internet connection, so you can access the blockchain 24/7. What else? You require secure means of storing and moving your earnings – a crypto wallet. You can pick from online, desktop, hardware or paper variants. Our in-depth review on the different types of wallets can be found here.

What else to consider before start mining Syscoin

Mining gear produce a lot of heat and noise while working, ASICs especially. When you’re looking for place to host your equipment and create your mining operation, you will need to take those factors into consideration. To help you combat such issues, our team of experts has compiled an easy to follow Syscoin mining guide, explaining in detail what solutions there are available. You’re free to choose the best one for you.

In our previous paragraph we mentioned a reliable internet connection is required. To expand on the topic, we suggest having unlimited internet traffic, as one miner goes through roughly 15GB of data each month. Low latency is another added bonus, as in cases where you find a block at the same time as someone else, the one with less delay will be the first to send his result and get the reward.

Which Syscoin mining hardware to buy?

Once you’ve decided that mining Syscoin is something you’d be interested in, the next logical step would be to pick out the best hardware for the job. For starters, you are looking to solve cryptographic puzzles fast and efficiently. Since this article is about the Bitcoin fork Syscoin, the best means of achieving the desired profits are ASIC machines. You can find our top picks in the table below.

When making the choice of which model to buy, pay attention to the miner’s hash rate, power consumption and of course the price of the device. Another vital point is the supported algorithm – if you’re browsing on your own for other models, make sure they’re designed for SHA-256, as if not – you won’t be able to mine SYS.

The information in the table of comes in handy not only when buying a miner. It is also useful when you want to calculate your potential income from mining Syscoin. Feel free to use our dedicated SYS calculator but do be aware that all results you receive are estimates.

Hardware and software setup configuration

Let’s assume you already have the device of choice, in your possession. For this example, we are using Antminer S9.

Syscoin Cloud Mining

To make it easier for you to understand and distinguish your way of mining, we’ve provided you with some pros and cons about cloud mining Syscoin.

Pros:

• noise and heat are off your shoulders
• lack of spikes in your electricity bills
• you don’t have to worry what to do with your hardware later on

Cons:

• many scams (like fake contractors, not real offers)
• mining companies shutting down abruptly, due to financial losses
• regarding miner optimization – less control and flexibility

Here are some reliable cloud mining providers, where you can lay your hands on Syscoin: NiceHash and Hashflare.

Of course, there might be few hidden conditions, for which you will have to pay an extra fee. You should include them in the calculations before you sign anything.

For a detailed guide on cloud mining, click here.

Syscoin Calculator

You can check your Syscoin profitability using our dedicated calculator. Type in the ASICs hash rate, power consumption and electricity per hour. As the cryptocurrency landscape is ever changing, we cannot guarantee that things like network difficulty, coin price and other factors will remain constant. In that line of thought, the values presented are valid only for the moment of calculation.

Disclaimer: Do keep in mind that all values provided in our calculator are estimates, based on the specific point in time of your calculation. As network difficulty, coin price and other factors change constantly, we cannot guarantee your earnings in the future.

{{ currency }}:{{ daily_income_total }}

Power cost:-{{ daily_income_power_cost }}

Profit:{{ daily_income_profit }}