Mining Flux as of 11/10/2021 has become extremely profitable! Today we will discuss how to mine Flux and what makes mining Flux extremely profitable. On November 9th 2021, with a single RTX 3070 you could mine about $10.43 per day on flux. Comparatively to ETH you would be making around $4.59 per day. It seems that things have calmed down a bit because as of today, 11/10/21, on a single RTX3070 you would get $4.60 on ETH and $4.03 on Flux.
Below is a photo of a RTX3070 LHR card. We can see that mining flux currently, even with the newest version of NBMiner, is slightly more profitable than mining ETH.
Why Was Mining Flux So Profitable:
Mining Flux | Network Difficulty:
Mining flux just a few days ago was extremely profitable because the network difficulty was low, and the price of the coin was high. As soon as miners saw how much profit they could make per day, compared to ETH, they switched over increasing the network difficulty. Over the past 3 days we can see that the network hash rate has doubled.
Concept of Parallel Assets:
Parallel assets. With Flux your assets can exist on multiple blockchains. So the Flux you have on the Flux blockchain as well as on the ETH blockchain (Flux-ETH). These assets exist at the same time, and the Flux stored on another blockchain currently grants you a 10% reward. Flux is creating ten parallel assets on ten other blockchains that will be interchangeable with the main Flux blockchain. This provides Flux holders with access to all of the major DeFi platforms and is a unique feature to the coin. Currently there are three parallel assets: KDA, ETH, and BSC that have already been created and distributed to Flux holder. With TRX and SOL being announced as upcoming parallel assets, they will also be added sometime in the near future.
The price of Flux over the past 6 days has tripled. On 11/04/21 we can see the price of a single Flux coin is sitting around $0.60. Currently the price is at $1.81 per coin. This means that along with the low network difficulty, the price 3xing is going to massively increase the profit per day while mining.
How to Mine Flux:
Setting up a Wallet:
A good wallet to use is zelcore.io, be sure you are going to the correct website. Zelcore makes sure your data is encrypted and the wallet is fairly simple to use. They are fully self-custodial, so your manage your own keys and self protect your crypto.
Exchanges for Flux:
There are plenty of exchanges available for Flux such as: Coinmetro, KuCoin, STEX, Gate.io, CoinEx, TRADEOGRE, PancakeSwap, UNISWAP, HotBit, Tokok, SafeTrade, Kaddex, Citex, BitForex, Bittrex and Bitrue. These are all listed on the Flux website as supported exchanges. Minerpool recommends using KuCoin based off experience saying they had a great experience with their exchange. I personally would recommend HotBit, TRADEOGRE, PancakeSwap or UNISWAP based on word of mouth.
If you want to find out which pool to mine to, check out this link here. MiningPoolStats will show you all the popular mining pools and what coins you can mine on each pool. You can also see the hashrate per pool, how many miners are on a pool, the pool fee, and other important information. Just be sure you pick a pool that has features you want and is close to you geographically to reduce stale shares.
Mining Programs that support Flux:
The main mining programs that currently support flux are G Miner (AMD & Nvidia), MiniZ (Nvidia only), and lolMiner (AMD & Nvidia). If you decided to mine on the minerpool.org pool, then you will get additional bonuses due to their loyalty program. They also make it extremely easy to start mining. They have direct downloads to all of the above mentioned mining programs.