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Newbie questions around wallet, payment address and pools

Discussion in 'General Discussion' started by legalmat, Jun 19, 2016.

  1. legalmat

    legalmat New Member

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    Hi,
    I just started CPU mining because testing.
    Later I want to use ressources of our dedicated server to amortize a little of the server costs aside.

    I have created a dash wallet and joined a pool called coinotron.

    Now I connected all, set up according a good tutorial
    Now the CPU mining runs on a windows machine.
    The dash core wallet running with QT I used to receive the payout address.

    Question: When I see now, that mining in this pool at coinotron I dont like and I want to change to another method how can I use the wallet?
    How can I use the payout address?
    What are the processes to go to a coin exchange?
    What of the wallet do I need?
    Sorry, if this sounds really n00bie

    Andre
     
  2. TaoOfSatoshi

    TaoOfSatoshi Grizzled Member
    Linguistic Dash Nation Founder

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    Hey Andre! Welcome to Dash. I will find out the answer to your question and get back to you.
     
  3. Solarminer

    Solarminer Well-known Member

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    For a pool you could try ipominer.com, xpool.ca or nicehash.com for better profitability. Pools usually have a minimum amount you need to mine before you can withdraw funds. If you are cpu mining, maybe you will reach that in several months. CPU mining is really not that efficient and you are not going to be making anything unless you have really low electric costs (think 1 cent/kwhr electric rates). Most servers that you rent will have stipulations that don't allow mining or 100% cpu usage, so make sure you read the terms.

    As for exchanging, you are probably not dealing with large amounts. I would just install the coinomi wallet on your phone. Then exchange from Dash to Bitcoin or other crypto inside the wallet. If you were going to buy or sell significant amounts of bitcoin I would suggest registering with Coinbase or Circle. If you just want to CPU mine, It will be much easier to cash out by buying gift cards with bitcoin at gyft.com.

    You can also start a masternode with a bigger investment of 1000 Dash. You basically would host it on your server. Check out one of Tao's guides when you are ready for a bigger investment. Or you can buy a share with only 25 Dash on a service like masternode.me that will host the node for you.

    Have fun.
     
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  4. TaoOfSatoshi

    TaoOfSatoshi Grizzled Member
    Linguistic Dash Nation Founder

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    Thanks for responding, @Solarminer. @legalmat I hope that Solar answered your questions satisfactorily. You are welcome in Dash and we appreciate your interest. Don't be a stranger.
     

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