MinerGate Review 2020 Is Minergate Crypto Mining Safe To Use

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MinerGate Review – Is It Legit?

By: Ofir Beigel | Last updated: 11/14/19

Mining Bitcoin and other cryptocurrencies can be complex, and it’s generally left to the techies who know what they’re doing. Some companies are, however, bringing cryptocurrency mining to the average user.

In this MinerGate review, you’ll find out about how MinerGate works, what its main features are, and what users think of their mining software.

MinerGate Review Summary

MinerGate is a “download and run” mining program that can run on almost any machine. The software allows you to mine cryptocurrencies like Ethereum, Monero and more from your PC or laptop.

While being easy to use, it seems to be quite inefficient in terms of profitability when not operated on dedicated mining hardware. Additionally, public opinion regarding the company is undecided.

That’s MinerGate in a nutshell. If you want a more detailed review e keep on reading, here’s what I’ll cover:

1. What Is MinerGate?

MinerGate is an open mining pool where people use their computers to add hashing power to that of thousands of other miners. The user interface is openly downloadable and allows people to quickly start mining Ethereum, and a selection of other altcoins.

It helps users to break down the usual complexities found in mining to a simple “download and run” process.

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MinerGate allows anyone to grab their program and run it on their computer. A large, powerful machine can, of course, add more power, but even smaller, amateur miners can use a normal PC or laptop.

It sounds great, but in reality, the weaker your device, the less you can earn. The average laptop will put a little more starch in your pants, and it can make it fun to get involved, but returns will still be minimal. It also depends a lot on the coin you mine.

Additionally MinerGate has a mobile app which helps you to manage the mining processes remotely. The MinerGate mobile application is a control app through which you can monitor your devices. It shows you the balances and you can receive push notifications about the mining process.

Note, it is not possible to mine cryptocurrencies with a mobile phone with the MinerGate mobile app.

While MinerGate is quick and simple to use, there are complex algorithms running in the background. In just a few clicks, it exploits the maximum capability of your hardware, based on how much you want to dedicate to the process.

The MinerGate team will reward you based on how much hashing you are committing. You can put your computer to work while you aren’t using the hardware. But be aware – sometimes the money you’ll make won’t even cover the electricity cost of running your computer while you sleep.

There are lots of other mining pools around, but many require more knowledge to run and can only mine one cryptocurrency.

MinerGate has the distinct advantage of working from both the CPU and GPU to mine multiple cryptos for maximum profit. For example, you can mine both Ethereum and Monero simultaneously.

2. How to Use MinerGate

The beauty of MinerGate is how easy it is to fire up and start mining. Here’s a quick run-through to show you the steps.

Step 1: Swift sign-up process

Head over to MinerGate and sign up. You only need an email address—no verification or laborious forms.

Step 2: Download the software

The website should detect your operating system.

Step 3: Install MinerGate

Install and open MinerGate like any other program on your operating system.

Step 4: Use the Benchmark feature

This allows MinerGate to analyze your hardware and let you know what you can achieve.

Step 5: Start mining

Either click “Smart Mining” for the most profit or manually select a cryptocurrency.

3. MinerGate Features

You’ll see that there are a few different options and functions built into MinerGate.

The first page will encourage you to start Smart Mining. Smart mining automatically mines the most profitable cryptocurrency for you.

How much this takes market prices and difficulty into account is hard to tell, nonetheless, it’s an enticing feature if you want to get started with no complications. All you need to do is select your core output and let it do its thing.

You’ll also see a Benchmarking tab, which might be a good place to start before you do anything. In a few minutes, the software will analyze your hardware to see what you can achieve.

I ran this on my Surface Pro, which is ideal for writing and content work. It’s a hybrid laptop-tablet, so it’s not really geared toward mining. The result was a $25 earning potential over a year. Not super inspiring—but maybe better than expected.

The Mining tab is probably the most complicated, but it’s pretty easy to get your head around. You can quickly select which crypto to mine with the CPU and which to mine with the GPU. Again, you can designate different amounts of power to each mining process.

I tested this on my laptop, putting all four cores to work on mining. Very quickly I could hear the power output from the hardware, and after checking the task manager, I found that it was indeed giving the system a complete workout.

4. Cryptocurrencies and Fees

You can mine the following coins with MinerGate:

  • Ethereum
  • Bitcoin Gold
  • Zcash
  • Ethereum Classic
  • Bytecoin
  • Litecoin
  • Monero
  • Monero Classic

MinerGate’s Bitcoin mining pool was shut down on 3 April 2020, so there is no bitcoin mining opportunity on Minergate now.

The fees don’t seem over the top either. The flat fee of 1% or 1.5% is pretty favorable compared to some competitors. The complete fee schedule can be seen here.

5. Public Opinion and Community Trust

The court of public opinion wavers quite heavily on the subject of MinerGate. Word of mouth is the driving force behind any brand, and MinerGate seems to be littered with poor experiences—with some even labeling it a scam.

Many report deposits into their cryptocurrency wallets elsewhere not appearing, with records of failed transactions on the blockchain. Others simply say they never saw their money.

That being said, there are some who use the software with success often, although these scenarios are a little harder to find.

Furthermore, most people who praise MinerGate usually attach their affiliate links to their reviews, so it’s less trustworthy in my opinion.

It’s very worrying to hear from so many frustrated users who are trying to withdraw funds. There’s plenty to see and love about the simple functionality of MinerGate, but if you can’t get your money, then it’s a waste of time.

Another issue is that many users are complaining about the lack of transparency of the MinerGate mining pool.

They claim that MinerGate is displaying lower hashrates for your hardware than what is actually being used. This means that the platform is effectively telling you that you earned less than you actually did and keeping the difference.

Very little is known about the company as a whole, with its About section just stating that it’s run by a group of cryptocurrency enthusiasts—always a red flag where scams are concerned.

It’s a common misconception that the team behind MinerGate is also the team behind Changelly, which builds trust. However, after speaking with representatives from Changelly, I can now confirm that these are two different companies.

I’ve asked our mining expert, Ian, to compare MinerGate’s performance to one of the alternatives – Claymore miner. Here’s what he had to say:

Here are two pics from the same rig running 4 Rx 470’s:

Minergate running @ 985H/s and

Claymore at 2499 H/s (meaning 2.5 times faster)

Now the question is whether that delta is malicious and they are “stealing” or redirecting hashpower somehow when using their interface vs. Claymore’s. I lean towards not and here is why:

When using Claymore on Monero I was still mining directly to my Minergate dashboard and wallet, getting the full yield of Claymore’s power. If they were really stealing I would think they would not actually give you the coins.

People pointing to the platform itself saying it’s not as good is rubbish because there are few developers in the world that can build a miner to run as well as Claymore.

Genoil is good and he can’t beat Claymore – is he stealing too? I think that for what they built – a GUI miner interface that can CPU and GPU mine at one click of the button it is very good. It’s just not highly tuned and optimized like Claymore’s.

6. Frequently Asked Questions

How do I Withdraw from MinerGate?

MinerGate withdrawal are done through Freewallet.

  • On MinerGate’s dashboard Go to the currency tab
  • Click on ‘Withdraw’
  • Fill in the ‘You send’ field
  • Click ‘Enter e-mail’ near the Freewallet logo
  • Fill in all the fields.
  • Fill in the ‘Verification code’ input field.
  • Click ‘Withdraw’ again

What is the XMR Pool on MinerGate?

The XMR pool is the mining pool for Monero which mines the Cryptonight algorithm. You can mine to this pool with a CPU or GPU.

7. Conclusion – Is MinerGate a Scam?

The great news is that you can download MinerGate, install it, and start mining within five minutes. That’s pretty cool even if you have no technical experience or just want to try it for fun.

The user interface is easy to get on with. It’s all neatly laid out, and it hides all of the complicated mishmash associated with cryptocurrency mining.

One rather large problem relates to the ability to access one’s funds. The wallet function has recently been moved from the software to the MinerGate website. If withdrawals were a technical issue, then maybe this has been fixed. The jury is still out though.

Finally, nothing can hurt a company more than a bad reputation. In this case, it seems that MinerGate hasn’t proven itself enough to be a reliable source of income. At the moment this is the most important thing to consider, in my opinion.

I actually ran MinerGate through our Bitcoin Scam Test, and the company came out legit, but the test isn’t 100% accurate. Use it at your own risk.

Minergate review: How about mining Bitcoin from your computer?

MinerGate Mining offers a platform that simplifies mining into a download and run solution. To put it simply, if you’ve ever thought about mining Bitcoin from your computer, the Minergate platform can help.

Considered one of the most user-friendly mining software, this multi-currency mining platform was created to serve those who may not fully understand the technicality in operating a mining software. The platform supports all the mainstream and not so well-known coins.

This review serves to deliver detailed information about MinerGate mining pool and help you decide if you’d like to enroll or not.

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What we will cover in this review :

What is MinerGate?

Pros : multi-currency support, no technical knowledge needed, fast operations

Cons : medium fees, low income

MinerGate is an advanced multi-currency mining pool that enables numerous users to connect their various devices to have a download and run mining experience. It provides an easy mining platform where users can access a downloadable software which enables them to start mining Ethereum and other digital assets.

  • Go to https://minergate.com/ and download the miner
  • Choose the feature of regular mining or smart mining (smart mining means that the platform mines for you)
  • Choose how much power you want to have in the pool
  • Start mining
  • Control and withdraw your earnings from the program

It creates an opportunity for those who do not understand the technicalities involved in mining to have a better experience with easy to use mining software, GUI miner. Users can reduce the normal hassles in the mining process to a simple one by downloading the program and running it on their computer.

MinerGate has a mobile app on Google Play, which enables clients to monitor mining activities on their smartphones from anywhere, 24/7. Minergate offers its clients various options to monitor mining pool performances; these include charts, tables, detailed information sheets about altcoin strength, specification, and weakness.

Clients will be able to maximize profit by choosing a combination of the best performing altcoins. Your earning power also depends on the capacity of your device, the stronger or faster your device is, the more you will earn, and vice versa. A normal computer may be good enough to start and be part of the mining activity but only generate enough returns to pay your electricity bill.

Your return will be only based on the amount of hashing power you are committing. There is a better opportunity to earn on MinerGate than other platforms that do not enable you to mine more than one cryptocurrency.

How to Mine With MinerGate

MinerGate is very fast and easy to use, here are the simples to take before you start mining.

  • Register an account on their website

Go to the MinerGate website, https://minergate.com and sign up. This involves filling your email and password in a short form that opens as you click on the ‘Sign Up’ button on the top left-hand corner of their website.

  • Go to the Dashboard and download the app

Now that you have created an account, you need to sign in to the dashboard and download your program.

The Benchmark feature allows MinerGate to assess your hardware to determine its capability.

Now you are set to start mining. You may decide to choose particular crypto or just click the “Start Mining” button.

What cryptocurrencies can I mine on MinerGate?

There are several digital assets to mine on Minergate, both the popular and less known ones.

Cryptocurrency Hash Power
Ethereum 9.1GH/s
Zcash 20.4KH/s
Bitcoin 10.1TH/s
Ethereum Classic 762.8MH/s
Litecoin 6.6MH/s
Bytecoin 266.1KH/s
Monero 11.0MH/s
FantomCoin 2.7MH/s
QuazarCoin 23.9KH/s
DigitalNote 219.3kh/s
MonetaVerde 9.5KH/s
Dashcoin 32.6KH/s
Aeon coin 159.4KH/s
Infinium-8 1.9KH/s

What is the cost of mining: Fees and Pricing?

MinerGate fees are mostly low. Cloud mining clients are charged only maintenance fees, which include resource cost and electricity cost. The maintenance fee is paid in US dollars after every 20 GH/s power purchased, the client will be charged 0.0066 USD.

Compared to the competitors, MinerGate minimum hash power purchase is higher. Some of platforms offer mining power from 1GH/s, Minergate offers 20GH/s. There is no maximum limit at which a client can purchase hash power, 1 million GH/s purchase can take up the full capacity of Hashing24 miners all at once.

Minergate offers two types of rewards to their clients; for the PPS, the pool fee is 1.5%, and PPLNS, the pool fee is 1%. Another reward is that fifteen days after registration, every user can mine Monero without paying any pool fee.

Benefits of using MinerGate

It is User-Friendly

Minergate is very intuitive; it is good for both new users and seasoned miners. If you are a beginner trying to start an investment in mining, this platform offers a friendly interface, which can not be seen with competitors. It involves a simple downloadable and easy to use interface that enables you to start mining on the go. All that is required for you to do before you start is a computer and an internet connection.

It offers CPU/GPU support that enables clients to access mining using various devices. It is possible for some clients to use smartphones for mining and some other person can use 4 graphic cards for mining. You can access the mining pool with any number of any devices and enjoy your mining.

It Offers Merged Mining

On this platform, the shares created for any of the CryptoNight currencies can be accepted for the other CryptoNight currency, so the shares you send can be recognized by both networks. This enables Minergate developers to mine two cryptocurrencies at the same time without the drop of the hash rate.

It has high security measures

Minergate has never recorded any case of hacking or stealing of the user’s data or coin. It is very safe to mine on this platform because clients’ accounts are covered with a 2-factor authentication process for protection. All you need to do is to get a password, and generated a mobile code that expires in 30 seconds. If you are planning to mine on this platform, please do the 2-factor authentication to ensure your fund is safe.

It is Affordable and Profitable

It offers a mining service that enables miners to mine bitcoin with quality hardware that features ASIC technology which is the best in the industry. Clients can choose their hash rate to maximize profit. Minergate provides support for users to increase return on investment, t offers a wide range of products for clients to choose from, 99.97% uptime and very reasonable pool fees.

Notable Issues with MinerGate

Though there are many benefits and helpful features, Minergate, like any other system, has been identified to have some challenges which negatively affect its clientele. Some of these issues are complaints from users or those who took their exit from the platform because of all these challenges.

  • Clients complain about the delayed response from the support team.
  • The same complaint goes for the chat moderators on MinerGate official website, they are noted for mocking newbies or banning those who ask for help.
  • Only bitcoin mining pool is available
  • The minimum purchase limit is 20GH/s, new users need to commit this just to try the service.
  • Withdrawals are available from 0.01 coin
  • Clients may lose reward if they suddenly stop mining
  • Users complain of losing so much of their earnings on fees

Updates/Developments – 21 November 2020

In summer 2020, Minergate released its’ royalty token – the MinerGate token. The founders aimed to create a token that will connect the whole community and positively engage them in the projects’ life. By reaching out to the contributors and asking them how to improve MinerGate services and platforms, the company managed to create something that they are proud to call a success.

Conclusion

Whether you’re a newbie or a veteran miner, interested in trying out connecting to a mining pool, Minergate can offer many benefits for your cause. Remember to be cautious when approaching new services. Read more about internet safety and dive into mining with no required knowledge or mining equipment.

Frequently Asked Questions

  • How can I withdraw my earnings from mining activities?

After setting up your account, you need to add an authentic bitcoin wallet address to your account to receive your reward which is paid in bitcoin only. Your coin will be delivered straight to your wallet.

Open the downloaded program and go to the preferred coin wallet. You’ll see a huge Withdraw button that you can press and follow the instructions after.

  • How much can I earn daily from my investment?

That depends on how much you have invested and the hash power you purchased. You can use Minergate calculator to get an approximate view on what your earnings might look like after some time.

  • How can I ensure my account is protected?

Set up 2-step verification and go through every security measure that the platform has to offer. Keep your earnings in control and manage your cryptocurrency wallets all the time.

  • How can I set up 2-step verification to protect my account?

Sign on to your account, go to profile, click the “Enable” button that is under the 2-step Verification section.

Download the authenticator app on your smartphone, it is available for Android and iOS users.

Type in the key manually and scan the QR code

Enter the password and the code from your phone’s app, and that’s it.

MinerGate Review

Before we begin our Minergate review, let’s quickly provide a brief overview on what Crytpocurrency is. Cryptocurrency is a decentralized and encrypted digital currency transferred between peers, and confirmed on a public ledger, via a process known as mining. The popularity of cryptocurrency is on the rise, and so is its application! The future of currency seems to be in the form of cryptocurrency, and like every form of currency, it must be kept securely and safeguarded. Cryptocurrency is created through the process of mining. Cryptographic puzzles are solved in an attempt to win cryptocurrency. CPUs, GPUs, or dedicated mining rigs are used either in combination or independently to mine.

Users need to correctly solve an enormous number of computational problems to unravel a new batch of the prized asset. MinerGate is a reputable multipool destination that allows users to mine the most profitable cryptocurrency at the time. The “Start Smart Mining” option chooses the best cryptocurrency to mine in terms of profit. MinerGate can be used on the mobile phone of a user or on the desktop of a CPU. MinerGate has its own GUI miner to facilitate CryptoNote and Ethereum mining. MinerGate can run on multiple platforms. It can be used in a Windows, Ubuntu or Mac operating environment. The GUI interface of MinerGate is easy to use.

MinerGate Review of an Account Setup

Creating an account on MinerGate is simple. The entire process of downloading, configuration, and getting started takes around 15-20 minutes. For a user to begin mining on MinerGate, he/she must register. A user must authenticate his email address and create a secure password. Depending on the operating system of a user, the right version of the software is recommended for downloading purposes (for Linux, Windows or Mac platforms). Install the software and run it. Authenticate the email address and password initially used to create the account and start mining!

A significant advantage for cryptocurrency enthusiasts is the fact that it is the first pool which provides service for merged mining. This means that different cryptocurrencies can be mined simultaneously without a decrease in hash rate for the major coin. A few of the supported cryptocurrencies are Zcash, Bitcoin, Ethereum, and Litecoin. MinerGate allows users to easily mine by using CPUs, GPUs, a combination of both or a laptop. MinerGate has a 1.5% fee for PPS payments and a 1% fee for PPLNS. Bitcoin mining is allowed through cloud mining. Users are recommended to activate 2FA (2-factor authentication) to ensure the safety of funds. Activating 2FA ensures the safety of funds even if someone else knows the password linked to the account.

Minergate Review Of The Features

Different cryptocurrencies can be mined simultaneously without a decrease in hash rate for the major coin. MinerGate is multipool and has a “Smart Mining” option. It chooses the best cryptocurrency to mine in terms of profit and switches between coins automatically. 2FA ensures the safety of funds. MinerGate has its own GUI miner to facilitate CryptoNote and Ethereum mining. Bitcoin mining is allowed through cloud mining. MinerGate allows users to mine with either a CPU, GPU, or both. Users can also choose how many cores they want their CPU/GPU to use. This allows users to regulate the heat and electricity produced by hardware, allowing it to have a greater life-span. MinerGate has a fun and interactive reward system that will award users badges on the basis of accomplishments as a miner. Win all the badges to receive a prize. MinerGate features a profitability calculator on their site so users can determine their profit at any time. Users can calculate their hourly, daily or weekly profit potential through their profitability calculator. MinerGate need not be downloaded. Users can mine directly from the website.

Pros And Cons

Minergate Review Of The Pros

One of the biggest advantages for cryptocurrency enthusiasts is the fact that it is the first pool which provides service for merged mining. Different cryptocurrencies can be mined simultaneously without a decrease in hash rate for the major coin. 2FA ensures the safety of funds. MinerGate runs on multiple operating system platforms. MinerGate is secure. The GUI is good. MinerGate has its own GUI miner to facilitate CryptoNote and Ethereum mining. No complex verification process is needed to start using MinerGate. MinerGate can be used on the mobile phone of a user or on the desktop of a CPU.

Minergate Review of The Cons

The value of Alt coins is very low on MinerGate (excluding popular ones like ZCash or Ethereum). Hashing power is relatively low (only a few blocks per day to compute for a regular miner). The cloud mining operation for bitcoin mining is opaque. Most digital currencies have a minimum value to be able to be withdrawn. However, this minimum is very low and is easy to reach.

Different Wallets

In order to use any cryptocurrency, you will need to use a cryptocurrency wallet. It is a software that allows you to easily store and manage your private keys (secure digital code known only to you and your wallet) and public keys (a public digital code associated to a certain amount of currency). Wallets are secure and prevent theft of cryptocurrency. Hardware wallets are considered to be the best wallet type. More than 35% cryptocurrency users make use of hardware wallets. Hardware wallets are designed like USB devices and can be connected to any computer (Ledger Nano S and Trezor are popular). Ledger Nano S, Trezor, Exodus and Jaxx are a few of many good wallets a user can trust.

Given below is a link to a video which describes the process of installing and using MinerGate. We hope you’ve enjoyed our MinerGate review!

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