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HiveOS — 2022: Ethereum Classic (ETC) price is skyrocketing. How to start mining

2022: Ethereum Classic (ETC) price is skyrocketing. How to start mining

ETC's value has seen a 70% increase this week. Currently, the magnitude of ETC rise is the highest compared to most of the other coins on the market.

ETC chart ETC is among the top 3 cryptocurrency among Hiveon OS users.

Pie chart Additionally, ETC's value is relatively strong in comparison to other "altcoins" -- On March 25rd, ETC's price was $47.99 according to CoinTelegraph:

ETC Price index Taking all the above-mentioned factors into account, ETC mining has once again gained massive traction. For now, it may be considered a viable alternative to ETH mining.

What else should you know about ETC?

The network has relatively low difficulty (which means that finding a new block won’t take too much time). However, there are also disadvantages. ETC is exceptionally vulnerable to 51% attacks — there were three consecutive attacks in less than a month, which significantly reduced the speed of money transfers. The block confirmation increases were set to mitigate the attacks, but the network cannot be called secure and stable.

But let’s suppose that you still decide to start mining ETC. How to do it? This article will answer this question.

Creating a wallet

After choosing (or setting up) the equipment, the next step is to create a wallet to keep the money earned from mining. Many platforms allow you to do this, and here are some of them:

  • Ethereum Classic Wallet (your wallet will be initially configured for the ETC network);
  • MyEtherWallet (you will need to change the network settings to work with ETC);
  • Coinomi (a multi-currency wallet);
  • Binance (a cryptocurrency exchange, you will need to register and get a deposit address);
  • Poloniex (also an exchange).

However, keep in mind that exchanges often become targets of attacks, have regular maintenance times, and do not share private keys. Take this into consideration when making a choice.

On our website, there is an article with a list of the best crypto wallets. This article will help you choose the best cryptocurrency wallet.

Choosing a pool and software

You have chosen hardware and created a wallet — now you are almost ready to start mining ETC. But first, you need to select a pool — generally speaking, pool mining tends to be more profitable than solo mining for most users. Instead of looking for blocks yourself, you will receive a small part of the rewards of the entire pool, which means that your income will be much more stable. We recommend the Hiveon pool, and here's why:

  • The pool fee is 0%.
  • The pool fully covers transaction fees.
  • The pool hashrate is 110.04 TH/s.
  • PPS+ distribution mode, where payment is made for every valid share sent to the pool.
  • Servers are located in Russia, Europe, North America, and Asia
  • An opportunity to pay for Hiveon OS at the cost of a 3% fee for mining ETH, ETC on Hiveon pool.
  • 24/7 support service.

In addition, the Hiveon pool easily integrates with the Hiveon OS management and monitoring system. Using it, you can do the following:

  • Manage all your devices at the same time.
  • Monitor hashrate, online statuses, and device errors.
  • Monitor energy consumption.
  • Perform updates in bulk.
  • Use tags for a quick search.
  • Receive notifications about temperature, hashrate changes, and so on.

ETC is accepted and supported on the majority of exchanges. Thus, it is easy to sell or trade this coin. Mining ETC is gaining momentum as the cryptocurrency is currently on the rise. Thus, this period may be beneficial if you consider mining ETC. We hope this article and your own research will help you make the right choice regarding the coin to be mined.

Mine efficiently and profitably!