Back in 2009, when Bitcoin came into existence, the only way to obtain Bitcoin was to mine with a CPU. Then came GPU mining, then ASIC mining, and lately cloud mining.
Today, it is unprofitable to mine Bitcoin with a laptop. GPUs and CPUs in laptops simply aren’t powerful enough to generate a hash rate that can effectively contribute to the Bitcoin network. But, this does not mean having a powerful laptop is ineffectual for cryptocurrency mining. There are so many other cryptocurrencies that can be mined profitably with a laptop. Mining cryptocurrency with a laptop requires you to install some additional software. In this article, we will show you how to mine cryptocurrency with your laptop.
Some cryptocurrencies only support CPU mining. Some cryptocurrencies support GPU mining and some support both. Depending on your laptop’s CPU or GPU, you may opt into GPU or CPU mining.
Before you start mining with your laptop, the most important thing is to check if your laptop’s CPU or GPU is profitable to mine with. Not all laptops have good CPUs or GPUs in them. If you have a low-end laptop, do not even think about mining. You are more than likely to make a loss.
If you do not already know your laptop’s GPU or CPU, you can download GPU-Z and find out. If you already know, go to MiningBenchmark and check if your laptop’s GPU or CPU is profitable to mine with. If your GPU or CPU is not listed there, you can do a google search to check the profitability.
If you had mined with your laptop before and already know the hash rate it generates for different algorithms, you can use a mining calculator to check the profitability. The hash rate varies from algorithm to algorithm. You would need to know the hash rate of your GPU or CPU for each algorithm.
Most cryptocurrencies are not profitable to mine with a GPU or CPU because of the advent of ASICs, although there is a handful of cryptocurrencies that are still profitable to mine with a GPU or CPU. These cryptocurrencies are the ones that use the following algorithms:
- Equihash (210,9)
- CryptoNight Adaptive
- Random X
- VerusHash 2.0
- CryptoNight HeavyX
So, you would need to know the hash rate your laptop generates for each algorithm. You can use Google for that. If you still can’t find it, you would have to mine coins that use the above-mentioned algorithms and take note of the hash rate it generates. When you know the hash rate, you can easily use a mining calculator to find the most profitable coin to mine. To calculate the mining profitability, you would also need to know the power consumption of your laptop and the electricity expense ($/kWh) in the area you live in. You can check the power consumption of your laptop using this guide. You can find the $/kWh in the area you live in with a quick google search or by looking at your electricity bill.
If your laptop’s GPU or CPU is not profitable to mine, forget about mining. If this is the case, you may want to opt into cloud mining. This is explained further in this article.
If your laptop’s CPU or GPU is profitable to mine with, the next step is to download mining software. You will be mining the most profitable coin, so download a mining software that supports mining of that coin. For example, if GRIN is profitable to mine with your laptop, download GRIN mining software.
Will Cryptocurrency Mining Damage Your Laptop?
Laptops aren’t designed to mine cryptocurrency. Yes! mining cryptocurrency can potentially damage your laptop. Excessive heat generated from mining can cause hardware damage. This can be avoided if your laptop is designed well to dispense all the heat from mining.
Since you will be mining 24/7, the laptop will degrade quickly. You will have to replace it sooner than normal.
What is More Profitable than Mining Cryptocurrency With A Laptop?
If you have a high-end laptop, you can certainly mine cryptocurrency for profit. But, there is a way to make even more money utilizing your laptop’s GPU or CPU. That is to sell your laptop’s hashing power at Nicehash. Nicehash miner is a free software offered by Nicehash, which allows you to connect your laptop to the Nicehash power marketplace. This software enables you to rent out your laptop’s computing power and in return, you will be compensated with Bitcoin.
Selling hash power at Nicehash is more profitable than mining because you can set your rental fee when you rent out the computing power of your laptop. Unlike mining, your payout will be constant and guaranteed. When a buyer rents your laptop’s computing power, the payout is sent to your wallet.
But, what if no one rents your laptop’s hashing power?
Do not worry, you can configure Nicehash miner to mine cryptocurrency at times when no one rents out your laptop’s computing power. So, you will be utilizing your laptop’s computing power anyway.
But what if my laptop is not profitable at mining cryptocurrency?
If your laptop is ineffectual at mining cryptocurrencies, you can still mine cryptocurrency with cloud mining. As a buyer, you can buy hash power from the Nicehash marketplace and utilize that power to mine your preferred cryptocurrency. You can learn how to buy hash power here. Alternatively, you can purchase cloud mining contracts from Genesis-Mining or Eobot.
You are simply renting out someone’s computing power to mine cryptocurrency. That way, you are not stressing out your laptop. Cloud mining is easy but is it profitable? We answer that question here.
At this point, you may want to consider if buying cryptocurrency a better choice than mining or cloud mining. Check out this article where we compare buying vs mining cryptocurrency. If you want to earn cryptocurrency immediately, buying is the fastest way to do it. Exchanges like CEX and Binance are some of the best services to buy cryptocurrency.
The most important thing to consider before you mine with a laptop is to determine if it is going to be profitable. You can use an online calculator to determine the profitability of your laptop’s GPU and/or CPU. Find the most profitable coin and download miner software to mine that coin.