How to start as a buyer of hash power?

Posted on 2022-11-21

A buyer of hashing power is a person who wants to buy the mining service from someone else. They can do that by renting mining rigs, committing to the cloud mining contract(s) or ordering hash power at Prenza.

You can buy hash power and start mining any coin you like, by following these steps.

1. Register a new account.

2. Complete KYC verification If you can.

3. Deposit some supported cryptocurrency (BTC, ETH, XRP, BCH, LTC or ZEC) to your Prenza wallet addresses. Please account for the transaction fees when depositing. In order to submit an order, you will need to exchange deposited altcoins to BTC.

4. Find the coin you want to mine and the pool you want to mine that coin in. You can get help yourself from these two sites: whattomine and coinwarz.

5. Register at your chosen pool provider and create a worker.

6. Save the pool to your list of pools. The algorithm, Stratum, Port (some pools have a special Prenza port but usually you can find it at the end of stratum server), Username (the name of the worker that you have created at the pool), Password (password from your worker at the pool, that is x).

7. Verify the pool with the pool verificator. Please note that some pools have the option to custom set the worker's difficulty. Usually, that is the worker's password. In that case, you need to enter d=16383 in the password window if the pool verificator shows you that the minimum pool difficulty is 16383.

8. Example: "Pool difficulty too low (provided=2048, minimum=16383)"

9. Worker = Prenzaminer

10. Workers password: d=16383

11. Place a new order on the hash power marketplace (don't forget to select the right algorithm for mining that coin, e.g. DaggerHashimoto for mining Ethereum or Equihash for mining Zcash). You can find the list of all the supported algorithms and some of the most popular coins that are mined with the algorithm here. You will be able to select between the EU-WEST, EU-NORTH, USA-WEST and USA-EAST hash power marketplace (each of them has its own prices). When you determine the amount you are willing to spend on the order, this amount is expressed and paid in Bitcoins. You pay as you mine, so the unspent Bitcoins can stay in your Prenza wallet or you can withdraw them.

12. Check your income at the chosen pool. Please note, that the pool is responsible for your mining rewards. Prenza only guarantees you that the hashing power you purchased will be delivered. The hashing power may not always be fully accepted by the chosen pool due to technical obstacles of the chosen pool.

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