When it comes down to mining Ethereum, you have 2 options to choose from. You can either buy a cloud contract or buy a good GPU that’ll allow you to mine efficiently. The first option is great since it means that someone else will do all the job for you. There is no need to buy any special equipment. However, if you think that you’d better do everything yourself, the first thing you’ll have to take care of is buying a good GPU. There are lots of GPUs available at the market nowadays. That’s why it’s not always easy to choose the one that meets your needs especially if you’re new to this mining thing. We’ve decided to make everything easier for you by providing a number of recommendations in terms of how to choose a good GPU and not to spend too much money on it.
You need to remember that the “outcome” you get when mining will be different for each card you come across when choosing the best one. The difference is caused by the way the ETHASH algorithm is run. This is the algorithm on the base of which the proof of work is received (this is crucial in case of Ethereum). Besides, each card is different in terms of its power.
You can find a website on the Internet where the GPUs are divided into groups according to their stats and metrics (that are shown live). This way you’ll be able to always get up-to-date data. Moreover, you’ll be able to see other important information. For example, how much time it’ll take for your purchase to pay off as well as how much ether a GPU should return within 1 year. On some websites, you’ll be able to see brand new and second-hand GPUs. If a card is second-hand it doesn’t necessarily mean that it’ll work worse. In fact, such like cards pay off faster because their prices are lower.
Once again, when before choosing an ideal graphic card for you, decide what your goal and your budget are. As far as your goal goes, you may want to mine efficiently or you’re looking for a GPU that will allow you to have a high hashrate. Once you find the card that seems appealing to you, go on reading additional information on it. We’ve already mentioned the fact that it’s important to know about the stats and metric and how much ether you’ll earn during the period of 1 year if the hashrate and exchange rate are stable.
All in all, we want to point out the fact that you don’t have to buy a very expensive, “super-cool” GPU. What matters is to find the card that fits you both in terms of hashes and efficiency.
There is one more little thing that’s worth mentioning. Sometimes it so happens that Ethereum moves from proof of work to proof of stake. Actually, it’s impossible to predict when this will happen because it’s all about the development of the blockchain itself. Do not forget that while choosing a GPU you need to make sure that you’ll be able to install it. Some cards require you to build a special PC for them. There is a set of factors to take into consideration if you want to choose the right card for your PC. Check that the card you are interested in fits the slots on your PC and that your CPU has enough power to supply a GPU. We encourage everyone who plans to start mining to take these factors seriously. Otherwise, you’ll simply waste your money.
If you already have a GPU and you’re now interested in finding out more about the process of mining itself, you can find our articles on how to connect to a mining pool (if you want to mine together with other miners) or how to carry out the process of mining by yourself.