What is Prohashing?
Prohashing.com is a service that allows you to mine coins and be paid with almost every other coin not just Ethereum. This makes mining Chia 🌱 in the short term a bit more profitable because you can switch between coins as you like. This means that if you want to farm an unmineable coin you can easily get payouts direct to your Coinbase account and with zero fees.
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🚀Create an account at Prohashing.com here
Create a Coinbase Account Here for free withdrawals and transfers
Ethereum Gas Prices
At this point smaller miners have a problem with the Ethereum gas price (transaction fees) they can be extremely high when cashing out your Ethereum from pools the fee is a large percentage of the coin you mined leaving you with less profit.
Let’s say I mine Ethereum with a single graphics card which produces 31MH/s. This equates to around 70 USD per month. When i get paid each month the gas price could be as high as 10 or 15 dollars leaving me with only 55 dollars payout.
This is a problem and has been for quite some time, the Ethereum community knows about it and is trying to find a way to fix it but in the meantime ProHashing.com is a great way to get all of your payments with zero fees direct to your Coinbase account.
Get Started 👨🚀
First you will need to open an account at ProHashing.com and change your NFT plots to point to the prohashing servers.
You can open your Chia GUI app and change your NFT pool by clicking the pools tab and clicking change pool
After that you will be presented with a new tab that asks which pool you would like to switch to.
As you can see above i have already switched over but all you need to do is enter
into the pool address.
Changing Pool can take 45 minutes be patient and do the switch once. At first it may appear to do nothing but the Chia blockchain is getting ready for you to change pools and soon you will notice ‘Pending’ on the plot NFT.
Making sure you get paid💰
So to get paid it couldnt be simpler. Especially if you have a Coinbase account. Log into ProHashing.com and add a new payment method click here to go to their getting started page
You will be presented with a page like below but will only have Litecoin entered. Litecoin is your emergency backup payout method and you cant change it. Best to just leave it alone. But we can add payout options.
When you add a new payment method you will have a LOT of coins to choose fromand you can switch to different coins whenever you like.
The amount of different coins you can be paid in is mind boggling and you would think that such a service would have some sort of catch but no, as far as i can tell there is no catch and you can mine just about any coin you want.
This is great for situations where your graphics card is not suited to mine a certain coin or the coin is unmineable you can switch to payouts from that coin and diversify your Crypto portfolio.
The last bit (important) ⚠️
You need to set your payout address in the Chia GUI to your username on Prohashing to get paid. Don’t ask me how it works but you enter your username in the Chia GUI and payments get sent and converted in your Prohashing account.
Once your pool has finished switching, open your Chia GUI or CLI depending on what your comfortable with and click “Edit payout instructions”
This may seem a little weird but we are going to set the payout address to our prohashing username. You can get your username from https://prohashing.com/tools/miner-configurator/Chia
This is simple enough but the main thing is you will not be given any type of notification that the address has changed successfully.
Just enter your username and click save then close.
Now we are done! You can now go back to your 🚀 prohashing account and you will see your miner is connected and every day you will get a payout either to an address of your choosing or to your 🪙 Coinbase account.
Here is an image of the main Dashboard at Prohashing.com
As you can see, i have 1 worker connected with approx 24TB of Chia plots but instead of earning Chia i am earning Ethereum.
Now go forth and mine any coin you want!
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