You aren’t supposed to mine Safemoon because it’s a Proof-of-Stake token on the Binance Smart chain blockchain. However, you can use an application known as Unmineable, which allows users to mine unmineable crypto coins like Safemoon. So, you should know how to mine Safemoon on Unmineable.
To mine Safemoon, you need a device with at least 3GB VRAM and a graphics card that supports multiple GPU systems. It’s not advisable to use an Andriod phone to mine Safemoon because of its slow processing and storage. Preferably, use a suitable device that’s compactable with an Unmineable interface.
This article will cover everything you need to know about mining Safemoon. We’ll explain how mining work and provide a simple step-by-step guide to mining SFM tokens. Also, we’ve highlighted some of the benefits and risks in this article to help you decide if mining SFM is for you.
At the end of the article, we’ve also answered some of the frequently asked questions about Safemoon mining. So, read through till the end.
If you’re prepared to mine Safemoon, then let’s get started.
What is SFM?
SFM is the stock symbol for Safemoon v2 and is the native token of its ecosystem. The Safemoon ecosystem is a community-driven initiative that develops metaverse, NFT, and commerce applications for a brighter future. Developers of the Safemoon v2 built the SFM tokens to weather volatility by rewarding the token’s holders, unlike the previous version (SAFEMOON).
When Safemoon became Safemoon V2, its tokenomics underwent several tweaks, including:
- A change in the contract address, and
- Reduction in the supply of SFM in circulation; caused by the consolidation of the token in a 1000:1 ratio.
Each trade made through Safemoon now carries a 10% tax cost, which includes:
- 1% added to the SFM ecosystem growth fund,
- 2% token burn,
- 3% added to liquidity, and
- 4% redistribution to the community.
Market data available about SFM on CoinMarketCap shows that the token has a total supply of 1T crypto tokens and a circulatory supply of 560.64B SFM.
How Does Mining Safemoon Work?
As we’ve discussed earlier, it’s essential to know that Safemoon cannot be mined using conventional methods. Mining SFM is only possible by using a workaround method that involves using software called Unmineable. So, how does mining Safemoon work on Unmineable?
Unlike other mining software, Unmineable adopts a real-time approach to mining PoS cryptocurrencies. The platform also offers various mining pools that support different types of cryptos. Some of the mining pools on Unmineable that support Safemoon mining include Etchcash, Randomx, Ethash, Kawpos, and Autolykos.
You’ll need to choose one of the above mining pools on Unmineable to mine Safemoon. After you’ve initiated the mining process in one of the mining pools, the application will create rewards and new coins for you in the background. However, the platform charges miners a 1% fee for the entire procedure.
Note that mining, in general, requires a lot of energy and uses a lot of processing power. So, we usually advise miners to download software that helps them track their CPU and GPU operating temperatures. You want your PC to stay below 90 degrees Celsius.
Also, changing the thermal paste on your CPU, cleaning the interior, and investing in some heat extractors would be good prepping-up practices.
Extra tip: Download MSI Afterburner for GPUs and configure the proper overclocking profile to achieve better hash rates. The amount of money you can mine relies on the hash rate of your CPU and GPUs.
Minimum Requirements to Mine SFM on Unmineable
Each mining pool on Unmineable has its hardware and software requirements. Knowing these specifications before you start mining would help you choose a compatible mining pool for your system and vice versa.
Below are the system requirement to mine SFM on Unmineable.
Autolykos
The minimum memory requirement is met by a current graphics card that supports multiple GPU systems and has at least 3GB VRAM (graphics card memory, not system RAM).
Etchash
The minimal memory need is met by a current graphics card that supports multiple GPU systems and has at least 3GB VRAM (graphics card memory, not system RAM).
Ethash
The minimum memory requirement is met by a current graphics card that supports multiple GPU systems and has at least 6GB VRAM (graphics card memory, not system RAM).
Randomx
The specification of Randomx is a contemporary CPU or laptop processor with adequate cooling systems. Over CPU mining, GPU mining is advised.
Kawpow
The minimum memory requirement is met by a current graphics card that supports multiple GPU systems and has at least 6GB VRAM (graphics card memory, not system RAM).
How to Mine Safemoon on Unmineable
Unmineable offers miners three mining programs, each with distinct attributes. These mining programs include; Nb miner, T-rex, PhoenixMiner, and Lol miner.
In this article, we’ll explain how mining Safemoon works on each platform. Let’s get started with PhoenixMiner.
How to Mine Safemoon with Phoenix Miner Software
PhoenixMiner supports both the Etchash and Ethash algorithms. You can download the software from its official website. After downloading the software, follow the steps below to start the mining process.
- Run the installation package (phoenixminer.exe) file.
- Create a start.bat file with the following contents: “PhoenixMiner.exe -pool ethash.unmineable.com:3333 -wal Xpause -pass COIN: YOUR ADDRESS WORKER NAME.”
- Unzip the file.
- Join a mining pool. (We recommend selecting Ethash)
- Replace COIN with Safemoon, YOUR ADDRESS with your wallet’s Safemoon address, and WORKER NAME with your user name.
- Activate the BAT file.
- Then a terminal will open, and you’ll receive a notification that you’ve become a crypto miner.
- Visit the post from the dev team for further specifics.
How to Mine Safemoon with Lolminer Software
Lolminer is compatible with thash, Etchash, and Autolykos algorithms. Follow the step below to set up the software.
- First, you’ll need to download the software from the official Lolminer Github website.
- Create a start.bat file with the following contents: “lolMiner.exe -algo ETHASH -pool ethash.unmineable.com:3333 -user COIN: YOUR ADDRESS.”
- Unzip the file.
- WORKER NAME: “ETHPROXYpause -ethstratum”
- Select a mining pool.
- Replace COIN with Safemoon, YOUR ADDRESS with your wallet’s Safemoon address, and WORKER NAME with your user name.
- Activate the BAT file.
- Then a terminal will open, and you’ll receive a notification that you’ve become a crypto miner.
- For any errors or clarifications, get in touch with the Unmineable team.
How to Mine Safemoon with Nbminer Software
You can use Nbminer to mine SFM tokens on the Ethash, Etchash, Kawpow, and Autolykos algorithms. Visit the NB miner’s official browser website to download the software. Then, follow the steps below to set up your mining operation.
- Create a start.bat file with the following contents: “nbminer.exe -a ethash -o stratum+tcp:/ethash.unmineable.com:3333 -u” -log pause COIN: YOUR ADDRESS.WORKER NAME
- Unzip the file.
- Select a mining pool.
- Replace COIN with Safemoon, YOUR ADDRESS with your wallet’s Safemoon address, and WORKER NAME with your user name.
- Activate the BAT file.
- Then a terminal will open, and you’ll receive a notification that you’ve become a crypto miner.
- Get in touch with the Unmineable development team for any issues and settings.
How to Mine Safemoon with T-Rex Software
T-Rex software works well with Ethash, Etchash, Kawpow, and Autolykos algorithms. Visit the T-rex Miner website to download the software. Then, follow the steps below to set up your mining operation.
- Create a start.bat file with the following contents: “t-rex.exe -a ethash -o ethash.unmineable.com:3333 -u” after unzipping the file. -p x pause COIN: YOUR ADDRESS.WORKER NAME
- Select a compatible mining pool.
- Replace COIN with Safemoon, YOUR ADDRESS with your wallet’s Safemoon address, and WORKER NAME with your user name.
- Activate the BAT file.
- Then a terminal will open, and you’ll receive a notification that you’ve become a crypto miner.
- Get in touch with the Unmineable development team for any issues and settings.
How Much Can You Earn by Mining Safemoon?
You can expect a minimum compensation of 250SFM per day from unmineable. This amount would vary depending on your system’s hash rate and the market’s going rate. However, you can use an online calculator to calculate your potential returns from mining SFM tokens on unmineable. The calculator estimates the return paid based on your hash rate from the previous 24 hours.
Benefits of Mining SFM Coin
Here are some of the reasons why you should mine SFM tokens:
- SFM Coin Mining requires less work to maintain the status quo than mainnet delegation and mining. Also, it’s hassle-free since a professional asset manager does all the mining work.
- The mining pools and payouts are constantly updated to offer users enticing mining benefits.
- Rewards are delivered to the miner’s wallet, generating passive revenue regularly.
- Unmineable’s mining software gives portfolio management more freedom by quickly and effectively compounding without a lock-up period.
- The Unmineable Mining Pool uses higher interest rates for its community.
- No upkeep or withdrawal charges for mining products
Risks of Mining SFM Coin Exchange
Like any other type of investment, mining any cryptocurrency has risks.
The primary risk most crypto miners face is the depreciation of the token over time. Slippage losses can also occur because mining pools nearly at capacity will have lower interest rates than pools with fewer users.
Another potential risk with mining crypto is fluctuating mining rewards and interest rates.
Should You Mine Safemoon?
Yes. Although mining Safemoon is a safe way to generate passive income, there is volatility risk, just like with any other type of cryptocurrency investment. The process of mining cryptocurrencies is complex, so consider your risk level and do your research.
Frequently Asked Questions about Mining Safemoon
What is the Maximum Supply of Safemoon?
There is a 1T token maximum supply for Safemoon.
Where Can I Buy SFM Coins?
You can buy SFM Coins at Pancakeswap, Mexc, and Gate.io.
Where is the SFM Token Used?
The native token for the Safemoon ecosystem, SFM, is employed for community incentives and governance.
Is SFM Token a Stablecoin?
No, it is possible to stake and create the Magic Internet Money stablecoin using the SFM token.
What is Unmineable?
Unmineable is a decentralized network that mines cryptocurrency for users using a Windows machine’s CPU or graphics processor. The service accepts several cryptocurrencies, including the more recent Cardano, Solana, and Shiba Inu, and the more established Bitcoin, Ethereum, and Dogecoin.
Conclusion
That’s the end of this article. By now, you should be able to get started mining SFM tokens. We’ve explained all the requirements to mine Safemoon on unmineable and how you can mine the token.
We wish you happy mining!
