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Introduction to Nexa Cryptocurrency
Nexa is an emerging cryptocurrency mined on the graphics cards. Leveraging an innovative approach to the Proof of Work hashing algorithm known as NexaPoW or NexScalePoW, Nexa’s blockchain offers a unique blend of SHA256 hashing and Schnorr signature creation.
Nexa’s main focus is to significantly enhance network capacity and computational strength. One of the remarkable features of Nexa is its ASIC-resistance. This characteristic ensures a fair mining environment by reducing the risk of centralization. The NexaPoW algorithm encourages widespread participation, as individuals and entities can help secure the network with the possibility of earning NEXA tokens.
As of now, the live Nexa price stands at $0.000006 USD, with a 24-hour trading volume of $281,187 USD. Currently, Nexa ranks #704 on CoinMarketCap. It has a max. supply of 21,000,000,000,000 NEXA coins. Nexa is presented on many cryptocurrency exchange platforms including BitMart, MEXC, CoinEx, Txbit, and SafeTrade.
Which Nexa Wallet to Choose
We strongly advise you to use the official Nexa wallet which includes a complete copy of the blockchain. This provides you with full control over your keys and subsequently, your Nexa coins. Having this full node wallet ensures you are directly interacting with the blockchain, providing optimal security, privacy, and trustless assurance. The rule to remember is not your keys – not your coins.
While a Nexa address can also be generated on a cryptocurrency exchange such as MEXC, keep in mind that this means your coins will be stored on the exchange’s wallet. You do not own the private keys to that wallet, and this can potentially expose your funds to risks, including the exchange being hacked or going offline.
The Android wallet for Nexa is available as well, offering mobility and accessibility for Android users. The iOS version is currently under development and will be available soon to accommodate the needs of iPhone users.
How to Set Up Nexa Mining
The Nexa mining algorithm is still protected from ASIC devices. This means that Nexa mining can be performed using only video cards. The most popular mining software for Nexa is lolMiner and rigel. You can also rent hashing power from Nicehash, as this platform supports the NexaPoW algorithm. At 2Miners, we have two ports with different share difficulties. One is for GPU mining, and the other is for Nicehash.
The ready-to-go bat-files could be always found in our Quick Start Archive. Use “2miners” as a password.
Mine Nexa and Get Paid in Bitcoin
In addition to Nexa wallets, you have the flexibility to use any Bitcoin wallet for your mining activities on the 2Miners pool. For coins such as ZEC, ETC, RVN, ERG, KAS, and NEXA, 2Miners allows miners to receive their rewards directly in BTC. To take advantage of this feature, simply provide your BTC wallet address in your mining software settings instead of the NEXA wallet address. All types of Bitcoin addresses are accepted, whether they be SegWit, Compatibility, or Legacy. Furthermore, BTC addresses created on cryptocurrency exchanges are fully compatible, enabling even more ease and versatility for your mining rewards management. Read more in our post Get Paid in Bitcoin for Altcoin Mining.
Nexa Mining with lolMiner
Use the setting below. Substitute YOUR_WALLET_ADDRESS with your Nexa or BTC wallet. For example nexa:nqtsq5g5szgc9uu9rck2vhjh2vux06ep07fscng86t03rkxd. Note that it should have the nexa: part in the front. You could also use the Bitcoin wallet address, for example bc1qnkyhslv83yyp0q0suxw0uj3lg9drgqq9c0auzc.
The RIG_ID could be substituted by any name of the rig you want. It is shown in miner’s statistics page. This field is not mandatory. You could leave it empty. Length of RIG_ID – Maximum 32 characters. Use English letters, numbers and symbols “-” and “_”.
lolMiner.exe --algo NEXA --pool nexa.2miners.com:5050 --user YOUR_WALLET_ADDRESS.RIG_ID
When you run the bat-file you see the shares are being sent to the pool.
Nexa Mining with Rigel
Rigel is the young and promising mining software. It shows a great performance on NexaPoW as well. Please find the settings below and don’t forget to specify your wallet address.
rigel.exe -a nexapow -o stratum+tcp://nexa.2miners.com:5050 -u YOUR_WALLET_ADDRESS -w RIG_ID
Rigel has a slightly different interface. If all goes well you see the Solution accepted phrase.
Nexa Mining with Nicehash
Custom pool name: 2Miners NEXA
Algorithm: NexaPow
Stratum hostname or IP: nexa.2miners.com
Port: 5151
Username: YOUR_WALLET_ADDRESS
Password: x
Whether you’re using GPUs or Nicehash, as soon as you start mining and send the first share to the pool, you’ll be able to see the statistics. Simply paste your wallet address in the search field at the top of the 2Miners.com website.
For Nexa we provide the detailed share statistics so you could find the number of Stale and Invalid shares and troubleshoot your mining equipment if required.
How to Set Up Solo Mining for Nexa
If you possess a high hashing power, Solo mining Nexa on 2Miners could be a great option. All the settings needed for this method can be found on our Help page.
To get started with Solo mining Nexa, you first need to choose your mining server. For GPU mining, the server is solo-nexa.2miners.com:7070If you are using Nicehash, the server to use is solo-nexa.2miners.com:7171
Remember, Solo mining is only advisable if you have a significant hash rate. Before deciding to solo mine Nexa, make sure to check the feasibility using the 2CryptoCalc mining profitability calculator. It’s worth noting that while solo mining can potentially bring larger rewards, the payout frequency might be less predictable compared to pool mining. Always take into account all your options and considerations before making a decision.
Nexa mining profitability
Visit 2CryptoCalc.com and select the model and number of GPUs you own. By default, the mining profit is calculated for 300 Nvidia 3070 GPUs. Currently, Nexa tops the list as the most profitable coin for this setup. However, bear in mind that profitability may vary due to changes in cryptocurrency prices and the amount of hashing power participating in the mining process. So, it’s recommended to revisit the calculator regularly to keep up with any profitability shifts.
Owning 300 Nvidia 3070 GPUs could generate a daily income of $125.31. This calculation doesn’t factor in the cost of electricity.
The Nexa Mining Profit Calculator can help you determine if solo mining with your hashrate is feasible. We advise against solo mining if you’re unlikely to mine at least 1-2 blocks according to the 2CryptoCalc projection. In other words, it’s preferable to have a minimum of 10 GH/s of NexaPoW hashing power.
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