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In the highly-competitive market of cryptocurrencies, Monero (XMR) has created a place for itself. Created in April 2014, today it is the 10th largest cryptocurrency with a market capitalization of $1,5 billion.
Monero has become a favorite among investors and miners because of its powerful performance last year. It went up from $10 in January 2017 to $494 in January 2018, giving a return of around 4800% to its investors. Isn’t that mind-blowing?
So, if you are thinking about Monero mining, then you’re not alone. The growth that Monero experienced last year has brought a lot of attention to XMR mining.
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Monero mining might seem confusing, and you may have many questions such as: how does it work? What kind of software and hardware do I need? How do I start? How long does it take to mine one XMR?
But here’s the good news — today I will answer all these questions and many more related to Monero mining. So, by the end of this guide, you will have a clear understanding of what Monero mining is, and whether you should do it or not.
Before jumping to mining, though, it’s important for you to know that there is a so much easier way to obtain Monero than mining it. Simply pick a crypto exchange that supports Monero and have it in your wallet in no time. If you have no idea where to start, consider Coinbase and Binance.