If you want to learn how to mine XELIS, this article is for you. Mining XELIS allows you to earn rewards while supporting a unique blockchain network. Unlike traditional cryptocurrencies, XELIS is designed to improve scalability and privacy. Understanding how to mine this cryptocurrency can help you take advantage of its innovative approach to decentralised transactions.
XELIS entered the market as a next-generation blockchain platform that improves on traditional blockchain limitations. It uses a technology called BlockDAG, which allows multiple chains to exist in parallel. This reduces orphaned blocks, increasing efficiency and transaction speeds. The network also supports smart contracts and advanced cryptographic techniques, such as zero-knowledge proof and homomorphic encryption, to offer better security and privacy.
This article will guide you through the process of mining XELIS, helping you get started with ease.
Is XELIS Mining Profitable?
XELIS mining profitability depends on many factors. The main ones include mining hardware, electricity costs, and the current market price of XEL. If you use average hardware, you may find it difficult to make a high profit. The block reward for mining XEL is relatively low, and the mining difficulty level is rising. This means miners need powerful hardware to stay competitive and earn rewards.
Electricity costs play a big role in profitability. If you pay high electricity rates, your mining earnings may not cover the expenses. In some cases, miners end up spending more on electricity than they earn in rewards. This makes mining less attractive unless you have access to cheap electricity. Many miners prefer to join mining pools to increase their chances of earning consistent rewards.
To find out if mining XEL is profitable for you, use a mining calculator. This tool helps you check potential earnings based on your hardware and electricity costs. By comparing different setups, you can decide if mining XEL is a good choice. Always stay updated with market trends, as changes in price and mining difficulty can affect your profits.
How to Mine XELIS: Our Top 5 Recommendations
Mining XELIS can be rewarding, but you need the right setup to ensure efficiency and profitability. This guide will walk you through the essential steps, from setting up your wallet to starting mining. Follow these steps to start mining XEL successfully.
1. Set Up a XELIS Wallet or Use an Exchange Account
Before you start mining XELIS, you need a secure wallet or an exchange account to receive your mining rewards. You can either mine directly to an exchange or use a dedicated wallet.
If you want quick access to your mined XELIS and prefer to trade frequently, you can use an exchange. Some of the exchanges that support XELIS deposits include:
To mine directly to an exchange, obtain your XELIS deposit address from the exchange and use it as your mining wallet.
For those who want more control over their funds, a dedicated wallet is a better option. You can download the official XELIS Wallet from the following link:
- XELIS Wallet: Download here
A dedicated wallet ensures that you have complete ownership of your mined XELIS without relying on a third party.
2. Choose a Mining Pool
Selecting the right mining pool is crucial for maximising efficiency. Woolypooly provides multiple mining pools based on geographic locations to reduce latency and improve mining performance. Choose the one closest to your region for optimal results:
- Singapore: pool.sg.woolypooly.com:3150
- Brazil: pool.br.woolypooly.com:3150
- Auto Geo: pool.woolypooly.com:3150
- USA: pool.us.woolypooly.com:3150
- Europe: pool.eu.woolypooly.com:3150
- Turkey: pool.tr.woolypooly.com:3150
- Hong Kong: pool.zh.woolypooly.com:3150
If you prefer solo mining, you can use port 3151. SSL ports are available for added security. Just enable the SSL ON parameter in your mining configuration.
3. Download Mining Software
Your mining software depends on the hardware you are using. Download the correct program to ensure smooth mining operations. Here are the recommended mining programs based on your GPU:
- For Nvidia GPUs: Rigel Miner
- For AMD GPUs: SRBMiner
Downloading the correct software ensures that your mining rig operates efficiently and gets the best hash rate for mining XELIS.
4. Configure Your Miner
After downloading your mining software, you need to configure it properly. This involves setting up the mining pool, wallet address, and worker name.
For AMD GPUs (SRBMiner), use the following command:
SRBMiner-MULTI.exe –algorithm xelishashv2 –pool pool.woolypooly.com:3150 –wallet YOUR_WALLET.WORKER_NAME
pause
For Nvidia GPUs (Rigel Miner), use this command:
rigel.exe -a xelishashv2 -o stratum+tcp://pool.woolypooly.com:3150 -u YOUR_WALLET.WORKER_NAME –log-file logs/miner.log
Replace YOUR_WALLET.WORKER_NAME with your actual wallet address and worker name. This step is essential to ensure your mining rewards are credited to your account.
5. Start Mining
Once your miner is configured, all that’s left to do is start mining. Simply run the .bat file you set up in the previous step.
Popular video guides on Mining XELIS (XEL)
How Does XELIS Mining Work?
XELIS mining operates on a Proof-of-Work (PoW) consensus mechanism, ensuring network security and decentralisation. Miners validate transactions and add new blocks to the blockchain by solving cryptographic puzzles. This process prevents fraudulent transactions and maintains the integrity of the network. XELIS uses the XELISHash mining algorithm, specifically designed to resist ASIC dominance and promote fair mining opportunities for CPU and GPU miners.
Proof-of-Work in XELIS
XELIS relies on the Proof-of-Work (PoW) consensus method, where miners use computational power to validate transactions and secure the network. This method requires miners to solve complex mathematical problems using hashing power.
- The mining process involves finding a valid hash that matches the network’s difficulty target.
- Once a miner successfully discovers a valid hash, they gain the right to add a new block to the blockchain.
- The miner receives XELIS as a block reward for contributing their computational resources.
PoW ensures that only miners with significant computational effort can add blocks, preventing malicious actors from taking control of the network.
Understanding the XELISHash Algorithm
XELIS mining is powered by XELISHash, an advanced PoW algorithm designed for ASIC resistance. Unlike traditional mining algorithms, XELISHash prevents specialised mining hardware from dominating the network, ensuring a fairer distribution of mining rewards.
- Optimised for CPU and GPU mining: XELISHash is specifically designed to work efficiently on both CPUs and GPUs, making mining more accessible to individuals.
- Based on RandomX: XELISHash is a modified version of the RandomX algorithm, fine-tuned to deliver high-performance mining while maintaining decentralisation.
- Continuous randomisation: The algorithm continuously alters its operations to prevent miners from optimising their hardware for long-term dominance. This feature enhances security and ensures a level playing field.
XELISHash strengthens the XELIS network by preventing mining centralisation and promoting a more secure, decentralised blockchain ecosystem.
How Long Does It Take to Mine One XELIS?
The time needed to mine one XELIS depends on several factors, including your mining hardware, network difficulty, and whether you mine solo or in a pool. XELIS uses the XELISHash algorithm, which is ASIC-resistant and favours GPU mining. If you have a high-performance GPU, you may mine XELIS faster compared to using lower-end hardware.
Mining difficulty changes over time, affecting how quickly you can earn rewards. If the network difficulty is low, you can mine one XELIS faster. However, when difficulty rises, mining takes longer. Joining a mining pool can help you earn more consistent rewards by sharing mining power with others.
On average, mining one XELIS could take a few hours or even several days, depending on your setup. To get an accurate estimate, use a mining calculator and input your GPU hash rate and electricity costs. This helps you understand how long it will take and whether mining XELIS is profitable for you.
How Difficult Is It to Mine XELIS?
Mining XELIS is considered moderately difficult. The current difficulty level is around 46.6 billion, meaning it requires a fair amount of computational power to mine, but it’s not as intense as some other cryptocurrencies. You will need a decent mining setup to achieve good results.
The hash rate required to mine one XELIS is approximately 3.14 GH/s. This means your mining hardware needs to be powerful enough to handle the workload and solve the necessary cryptographic puzzles.
XELIS adjusts its mining difficulty regularly to maintain a steady block time. This ensures the network remains secure and stable, making mining a consistent but challenging process for miners. To mine efficiently, you need to keep up with the network’s difficulty changes.
What All Do You Need to Mine XELIS?
Mining XELIS requires specific hardware, software, and settings to ensure efficient operations. Below, we will explain everything you need to start mining XELIS, including the best hardware, software, wallets, and mining pools.
A Computer with a Powerful CPU or GPU
You need a strong computer to mine XELIS efficiently. Since XELIS mining is CPU-optimised, a high-performance processor is essential. While GPUs can also be used, CPUs provide better results.
AMD Ryzen CPUs are an excellent choice for mining XELIS. The Ryzen 9 series, such as Ryzen 9 5900X or 5950X, offers multiple cores and threads, increasing mining efficiency. These processors deliver high hash rates while maintaining energy efficiency. Ryzen CPUs are also known for their excellent multitasking abilities, making them a preferred choice for miners.
Intel’s i7 and i9 processors are also great options for XELIS mining. The Intel Core i9-12900K and i7-12700K provide high clock speeds and multiple cores, ensuring smooth mining performance. They handle complex mining algorithms effectively, improving rewards over time. Intel processors also come with advanced cooling solutions, reducing the risk of overheating during continuous mining operations.
Mining Software for XELIS
To mine XELIS, you need mining software that is compatible with your hardware. Different software works best for different mining setups.
Rigel is an optimised mining software designed for NVIDIA GPUs. It offers efficient mining performance with advanced tuning features. Miners can adjust power limits, core speeds, and fan settings to improve efficiency. Rigel also provides real-time mining statistics, helping users monitor performance and make adjustments as needed.
SRBMiner is one of the best mining software options for AMD GPUs. It supports advanced mining algorithms and allows custom configurations for better efficiency. SRBMiner has low power consumption settings, reducing electricity costs. It also includes auto-restart functions, ensuring that mining operations continue without interruptions.
Wallet to Store Your XELIS Rewards
After mining XELIS, you need a secure wallet to store your earnings. There are two main types of wallets: exchange wallets and official wallets.
The official XELIS wallet is the best choice for storing your mined XEL. It provides full control over your funds and offers better security than exchange wallets. You can download the wallet from the official XELIS website and install it on your computer. The wallet also allows you to send and receive XEL quickly and securely.
A Mining Pool for Stable Earnings
Mining pools combine the efforts of multiple miners, increasing the chances of earning rewards. Instead of mining alone, you can join a pool to receive more consistent payouts.
WoolyPooly is a popular mining pool for XELIS. It offers low fees and a high hash rate, improving your mining profitability. WoolyPooly provides a user-friendly interface, making it easy to track mining statistics. The pool also has a strong community and reliable payout systems.
Kryptex is another well-known mining pool that supports XELIS. It provides automatic profit calculations, helping miners understand their earnings. Kryptex offers different payout options, including direct transfers to your wallet. The pool is beginner-friendly and provides guides to help new miners set up their mining operations.
Other Important Requirements
Apart from hardware and software, some additional requirements ensure smooth mining operations.
- Stable Internet Connection – A reliable internet connection prevents mining interruptions and reduces rejected shares.
- Mining Configuration – You need to configure your mining software with your wallet address and chosen pool settings.
- Electricity Costs – Mining consumes a lot of electricity, so check power costs in your area to calculate profits.
Top Wallets to Store Your XELIS
Storing your XELIS tokens in a secure wallet is essential to protect your assets. Different wallets offer various security features, compatibility, and user experiences. Below are the top wallets that support XELIS, ensuring safe storage and easy access.
Genesix Wallet is a reliable choice for storing XELIS, providing enhanced security and user-friendly functionality. It supports multi-chain assets, allowing users to store various cryptocurrencies alongside XELIS. The wallet offers private key encryption, ensuring complete control over funds. Its intuitive interface makes it easy to send, receive, and manage assets securely.
Coinbase Wallet is a decentralised wallet that enables users to store XELIS with complete ownership of their private keys. It features biometric authentication and encrypted cloud backups for added security. The wallet’s integration with dApps allows seamless access to decentralised exchanges and DeFi platforms, making it a versatile option for crypto users.
MetaMask is a widely used non-custodial wallet that supports XELIS and other cryptocurrencies. It is available as a browser extension and mobile app, providing convenient access to funds. Users can securely store private keys and interact with decentralised applications. Its compatibility with multiple blockchain networks makes it a flexible storage option.
Trust Wallet
Trust Wallet is a mobile-based crypto wallet designed for secure and efficient storage of XELIS. It offers a simple interface, making it ideal for beginners and experienced users. With built-in staking and decentralised exchange features, Trust Wallet allows users to manage their assets while maintaining full control over their private keys.
Frequently Asked Questions
What Is The Minimum Payout Required For XELIS Mining?
When mining XELIS, you will need to reach a minimum payout threshold before receiving your earnings. Typically, the minimum payout required for XELIS mining is 0.1 XELIS. This means that once your mining rewards accumulate to this amount, the payment will be processed and sent to your designated wallet.
Is It Possible To Mine Directly To An Exchange Wallet?
Yes, it is possible to mine directly to an exchange wallet, allowing you to receive mining rewards without using a separate personal wallet. Many miners choose to send their earnings directly to exchange wallets provided by platforms such as Mexc or Coinex. However, it is important to check the exchange’s deposit requirements and wallet compatibility before doing so.
Which Regions Provide Mining Servers For Better Connectivity?
Mining servers are available in multiple global locations to ensure low latency and efficient mining performance. Some of the key regions where mining servers are commonly hosted include Europe, the USA, Singapore, Hong Kong, Turkey, and Brazil. These strategically placed servers help miners worldwide achieve optimal connectivity and reduced downtime.
Are SSL and Solo Mining Options Available For Enhanced Security?
Yes, miners can opt for both Solo and SSL mining options to improve security and customise their mining setup. Solo mining, which operates through a specific port such as 3151, allows miners to work independently rather than in a shared pool. SSL mining provides an additional layer of encryption, helping to secure mining connections against potential threats.
Related Articles To Xelis
How To Mine Polygon
Want to learn about “how to mine Polygon?” Read this guide until the end.
How To Mine Tellor
How to mine Tellor: An in-depth, no-nonsense guide to mining Tellor
