What is Sia coin? How to Buy and Mine Siacoin?
Sia is a platform that enables to influence in a positive way to the other distributed networks with trust and security. It is a decentralized network of all the data centers. It does not allow the third party to interfere in any way as it cryptographically secure the platform of the users. It has recently approached the cloud storage platform. It also allows all users to make money by renting out their hard drives to store files. This platform secures data by using cryptography. In Sia the token which is used is the SiaCoin. SiaCoin is used to get the contacts which helps in storing the files and also used for payment procedure to the users for sharing the free disk space. It has proven to be inexpensive and a secured cloud storing platform.
WHY SHOULD YOU TRADE SIA?
When it comes to talking about the Sia then the SiaCoin has proven itself to be quite famous and stable at the same time. It is in the top 10 count down recently. If you planning to rent your cloud storage on Sia your definitely on the right track. SiaCoins are very easily available for trading Bitcoins. It is exchanged with Bittrex easily. There are some finest features one must surely go through to trust Sia in a better way.
- It has minimum possible alteration and there is no penalty for left blocks. Only 3% of PPS (Pay-Per-Share) is chargeable.
- We all heard about Stratum protocol right? Yes, Sia supports this protocol faithfully.
- If helps to provide the best network facility to the users also provides exact miner data.
- It provides the long voting supports to the users without interfering protocols used by them.
- The best part is that the user can easily get access to their account only by providing the wallet address and the username.
- Detailed information about the workers is well provided.
- The payment procedure is very quick and no hidden charges available. No individual has to wait for block confirmation.
HOW TO BUY SIA COIN
Siacoin is Small crypto coin and therefor you cannot purchase it very easily from any exchanges. First you need to buy bitcoins and then its easy to buy/exchange SIA for your BTC. Below are some popular exchanges where you can get SIAcoin:
THE MINING PROCEDURE OF SIA
The mining process of SiaCoin is quite easy and there is no need of any additional technical knowledge by the users. Let us go through mining procedure and understand the decentralized cloud storage network. The coins are used either for buying the storage space or for selling the other coins or flat.
Installation procedure of SiaCoin miner:
One needs to go to the github page and add the SiaCoin. Then he needs to choose the OS from the given list in that page. Once done then a downloading procedure will start and once it gets over a new folder opens. The user can easily create a folder naming it as “SiaCoin Miner”. After the folder gets created he needs to choose a pool among two given official pools. Finally he needs to create a batch file so he needs to open a notepad and copy the link as per given on the same page as per instruction.
Start mining with SiaCoin:
Once the file gets created the user can easily open the file and click twice on the “Start.bat” file. Finally you are through. As soon as he starts mining and visiting the pool websites he can get to see the mining procedure and the growth. Below are the component which must be kept in mind while using this platform.
SiaCoin Mining Hardware:
Reaching out to hardware is quite tough when it comes to SiaCoin mining as huge investments goes into this hardware by the user. GPUs are famously used for mining the cryptocurrency as users are on the profit margin by earning 500 SiaCoin each day. Further if we look into this then we can see that in 2017 a new device has been launched, namely the ASIC. This is introduced to mine the SiaCoin. One can really trust on ASIC for their future turnover.
SiaCoin Mining Software:
There are many options when it comes to SiaCoin mining. Presently the most successful and famous SiaCoin miners that is present in the market is the MarlinMiner. It can be categorized under the best as it is very compatible with both the CUDA and OpenGL.
- for Nvidia GPU, you need to install CUDA.
- for AMD GPU, you need to install OpenCL.
SiaCoin Mining Pool:
Once an individual is done with Hardware and software setting now they are set to deal with the mining pool. It is best to join a group of users who are doing mining together. This will help first-time users to be secure while mining SiaCoin. The users are rewarded as per they have put the resources. The rewards are collected in their SiaCoin Wallet. Have you heard of Nanopool and Siamining? These two are the best for using while mining with SiaCoin.
SiaCoin wallet is the final stage in this component where all the rewards are collected after mining. There are few wallets that support the SiaCoin and among which the most important wallet the Sia-UI wallet is quite famous. It can be easily installed on the computer. Alternatively, you can use the exchange wallet of Bittrex, HitBTC and Poloniex where a user can create an account and use it to store the SaiCoin.