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How to mine GAS coin on phone and PC?

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The majority of cryptocurrency users and ordinary people associate the word GAS with Ethereum. And indeed, gas is paid for every action on the popular network, and sometimes, gas fees are pretty high. But what about gas mining? If you think that in this case, we shall talk about different GAS, you are right.

GAS and NEO

Here, we will talk about a network different from the famous Ethereum. The NEO network, also known as Chinese Ethereum, and it is also one of the main ETH competitors, uses a coin called GAS to protect the network. The NEO blockchain utilizes the Proof-of-Stake consensus mechanism to confirm transactions. Therefore, the NEO coin cannot be mined because in PoS blockchains, there is no mining.

GAS is the other token used by the NEO blockchain. The token is used to make the NEO network secure. When users stake NEO, they receive GAS as rewards. Also, you pay GAS for each transaction completed in the NEO network. It looks, and it is indeed so, that neither NEO nor GAS can be mined in a traditional way. So, when you are going to swap GAS to NEO in the hope that you will recover your GAS balance by mining the coin, consider that mining might be impossible in this case.

How to Mine GAS?

However, in this article we will speak about impossible – about the ways to get the cryptocurrency for your mining activities. For example, you can rent your hashing power (computing power of your equipment, whether it is a CPU, a GPU, or a specialized miner) to mine any other popular coin, Bitcoin, for example, and for your hashing power, you are paid in NEO or GAS. This way, by renting your hashing power to mine a different coin, you can be paid in a coin that is not mineable, in our case, it is GAS.

Mining Pools That Offer These Services

The most popular pools where you can be paid in NEO or the other token for your hashing power are:

  • NiceHash
  • Claymore Miner
  • UnMineable

There are not many pools that offer this opportunity. However, those that do it, are good indeed. Before you opt for one or another pool, check what mining algorithms are supported there and what miners are needed. This information will help you to make the right choice and make your mining activities as beneficial as possible.

Miner Calculator

Before you decide to plunge into mining activities, calculate how much approximately you can earn. Check how much money you need to invest to start and how much the expected revenues are. Make sure you understand that your investment won’t pay off asap, and depending on the pool and equipment, you might need several months or even years to make your equipment work to gain profit.

Bottom Line

Mining is not as effortless as many ordinary people believe. In some cases, it is easier and cheaper to benefit from trading, moreover if you know where you can swap BTC to LTC or any other coin profitable and rapidly.

And whatever you select, do not forget that any activities connected with cryptocurrency are risky due to high volatility of any crypto asset. Therefore, invest in your potential earning activities only those funds that you can afford to lose without any significant impact on your lifestyle and the well-being of your family members. And never try getting into crypto because you need to earn at least some bucks to survive.

However, if you approach cryptocurrency wisely, do your research, learn all pros and cons of your investment, you might indeed become rich.

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