Safemoon is a Proof-of-Stake token on the Binance Smart chain blockchain and, therefore, cannot be mined. There has, however, been a rising demand for mining unmineable coins; the demand has forced innovations like Unmineable, which enables users to mine using proof-of-work algorithms with payouts in non-mineable coins like Safemoon. If the idea of mining proof-of-stake coins has piqued your interest, this “how to mine Safemoon” guide is for you.
Mining is recommended for users who want to earn crypto without buying from the cryptocurrency market. Due to low processing speed and storage, it is impossible to mine Safemoon on an android phone. Safemoon can be mined on CPU and GPU through the Unmineable interface. If you’re ready to mine Safemoon, let’s get into the details.
Today’s live SafeMoon price is $5.67e-9 USD with a 24-hour trading volume of $26,669.25. We update our SAFEMOON to USD price in real-time. SafeMoon has been down 1.60% in the last 24 hours. The current CoinMarketCap ranking is #1124, with a live market cap of $3,184,828 USD. It has a circulating supply of 562,111,909,304,910 SAFEMOON coins and a max. supply of 1,000,000,000,000,000 SAFEMOON coins.
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What is SFM?
SFM is the initial for Safemoon, the native token of the Safemoon ecosystem. According to Coinmarketcap, Safemoon has a total supply of 1T crypto coins. The Safemoon ecosystem is a community-led project that builds applications in NFTs, commerce, and the metaverse for a better tomorrow.
The transition of Safemoon to Safemoon V2 brought changes to its tokenomics; these include:
- Consolidation of SFM tokens in a ratio of 1000:1, reducing the circulating supply
- Transition to a new contract address.
Safemoon holders are advised to migrate their V1 SFM tokens to V2 SFM tokens.
Safemoon charges a 10% tax fee on every trade that consists:
- 4% redistribution to the community
- 3% added to liquidity
- 2% token burn
- 1% added to the SFM ecosystem growth fund.
How does Mining Safemoon work?
It is impossible to mine Safemoon, but a workaround makes it possible to mine PoW coins on Unmineable with payments made in Safemoon. So how does mining Safemoon on Unmineable work?
Unmineable innovates mining crypto with a real-time process. The platform mines Ethereum (ETH) on Ethash pool, Ethereum Classic (ETC) on Etchash pool, Monero (XMR) on RandomX pool, Ravencoin (RVN) on KawPow pool, and Ergo (ERG) on Autolykos pool. In the background, Unmineable issues the rewards/new coins for the crypto you want, Safemoon. Miners can change payout networks at any point. The platform charges a 1% mining fee that caters to the entire process; you get charged lower fees with a referral code.
It is recommended to download software to monitor the running temperature of the CPU and GPU; a good and free one is Hardware Monitor. Try not to exceed 90 degrees Celsius. If you are mining with a laptop, change the thermal paste of your CPU, get it cleaned inside, and get some heat extractors.
For GPUs, download MSI Afterburner and set the appropriate overclocking profile so you can get higher hashrates. If you take care of the temperature, your computer should work very well; the number of coins you can mine will depend on the hashrate of your CPU and GPUs.
Minimum requirements to mine SFM on Unmineable
Different mining pools have different hardware and software requirements. Selecting a compatible mining pool and mining software before starting the mining process is essential.
Etchash
A modern graphics card with at least 3GB VRAM (graphic card memory, not system RAM) and multi GPU system support meets the minimum memory requirement.
Ethash
A modern graphics card with at least 6GB VRAM (graphic card memory, not system RAM) and multi GPU system support meets the minimum memory requirement.
Kawpow
A modern graphics card with at least 6GB VRAM (graphic card memory, not system RAM) and multi GPU system support meets the minimum memory requirement.
Autolykos
A modern graphics card with at least 3GB VRAM (graphic card memory, not system RAM) and multi GPU system support meets the minimum memory requirement.
Randomx
Randomx uses a modern CPU processor or laptop processor with proper cooling systems. GPU mining is recommended over CPU mining.
How to mine Safemoon on Unmineable
There are four mining software on Unmineable, each with unique properties Phoenix miner, Lol miner, Nb miner, and T-rex. We will first look at how to set up Phoenix miner for GPU mining.
How to mine Safemoon with Phoenix miner Software
The software supports the Etchash algorithm and Ethash algorithm.
- In the folder with the file phoenixminer.exe, create a start.bat file with th contents “PhoenixMiner.exe -pool ethash.unmineable.com:3333 -wal COIN:YOUR_ADDRESS.WORKER_NAME -pass xpause”
- Join the mining pool.
- Change the COIN, YOUR ADDRESS, and WORKER_NAME, where Coin is Safemoon, address is your wallet address for Safemoon, and Worker name is your user name.
- Open the BAT file. A terminal will open, and hooray! You are now a crypto miner.
For finer details, visit the dev team post.
How to Mine Safemoon with Lolminer Software
The platform supports Ethash, Etchash, and Autolykos algorithms.
- Unzip and in the folder with the file lolminer.exe, create a start.bat file with th contents “lolMiner.exe –algo ETHASH –pool ethash.unmineable.com:3333 –user COIN: YOUR ADDRESS.WORKER_NAME –ethstratum ETHPROXYpause”
- Join the suitable mining pool.
- Change the COIN, YOUR ADDRESS, and WORKER_NAME, where Coin is Safemoon, address is your wallet address for Safemoon, and Worker name is your user name.
- Open the BAT file. A terminal will open, and hooray! You are now a crypto miner.
Contact the Unmineable team for any errors and clarification.
How to Mine Safemoon with NBMiner Software
The platform supports Ethash, Etchash, Kawpow, and Autolykos algorithms.
- Download NB miner software from their official browser website.
- Unzip and in the folder with the file NBminer.exe, create a start.bat file with th contents “nbminer.exe -a ethash -o stratum+tcp://ethash.unmineable.com:3333 -u COIN: YOUR_ADDRESS.WORKER_NAME -log pause”.
- Join the suitable mining pool.
- Change the COIN, YOUR_ADDRESS, and WORKER_NAME, where Coin is Safemoon, address is your wallet address for Safemoon, and Worker name is your user name.
- Open the BAT file. A terminal will open, and hooray! You are now a crypto miner; you can start mining.
Contact the Unmineable dev team for any errors and settings.
How to Mine Safemoon with T-rex Software
The platform supports Ethash, Etchash, Kawpow, and Autolykos algorithms.
- Download T-rex miner software from their official website.
- Unzip and in the folder with the file NBminer.exe, create a start.bat file with th contents “t-rex.exe -a ethash -o ethash.unmineable.com:3333 -u COIN:YOUR_ADDRESS.WORKER_NAME -p x pause”
- Join the suitable mining pool.
- Change the COIN, YOUR_ADDRESS, and WORKER_NAME, where Coin is Safemoon, address is your wallet address for Safemoon, and Worker name is your user name.
- Open the BAT file. A terminal will open, and hooray! You are now a crypto miner; you can start mining.
Contact the Unmineable dev team for any errors and settings.
How to Mine Safemoon with an Active Rig
- Visit the Unmineable official website.
- Set the coin, address, and worker name in the user field.
- If you have a referral code, enter it after the worker’s name, separated by #, as shown in the image below.
- Press enter to start mining.
To check balance and payments:
- Visit the Unmineable webpage
- Click the Address tab
- Enter your wallet address in the search box
- Click the search button
How much can you earn by Mining Safemoon?
Unmineable SFM minimum payout to crypto miners is 250SFM. The amount varies depending on your hash rate and prevailing market prices. Use the estimate calculator to estimate our return based on your hashrate. The calculator uses data results for the last 24 hours to estimate the return paid.
Benefits of Mining SFM Coin
- While mainnet delegation and mining might require enormous effort to maintain the status quo, SFM Coin Mining does not. Mining through a professional asset manager is hassle-free as it takes care of all the Mining work.
- The Mining pools and Mining rewards are actively updated to provide users with attractive Mining rewards.
- Rewards are sent to the miner’s wallet, ensuring consistent passive income.
- The Unmineable mining program adds flexibility to portfolio management with quick and efficient compounding without a lock-up period.
- the Unmineable Mining pool leverage higher interest rates for its community
- Zero maintenance and withdrawal fees on Mining products
Risks of Mining SFM Coin Exchange
- Mining any crypto assets has its dangers, just like all investing forms. The token’s value dropping over time is the first and most obvious hazard of mining any cryptocurrency.
- Volatile crypto interest rates and mining rewards are other examples of a specific danger. The interest rate on Mining pools near total capacity will be lower than those with fewer participants resulting in slippage losses. That’s because, in a larger pool, there are more miners to share the profits.
- Mining hardware is expensive.
- Mining a cryptocurrency is not a beginner-friendly process.
- Mining crypto is not sustainable. The proof of work technology uses a lot of electricity, and opponents propose phasing the miners out completely.
Should you mine Safemoon?
Yes. Mining Safemoon is a secure way of earning passive income, but like any other form of crypto investing, there is volatility risk. Mining cryptocurrency is not straightforward, conduct thorough research and assess your own risk.
Source: https://www.cryptopolitan.com/how-to-mine-safemoon/