Honeyminer is a straightforward, user-friendly interface that is a great choice for people just getting started with mining. This tool is not designed for rigs or dedicated systems but for beginners who aren’t sure which tool to pick or which coin is profitable. Honeyminer uses an algorithm based on your hardware to choose which coin is the best coin to mine.
Once mined, Honeyminer will be converted to Bitcoin and will be available to either payout to your wallet or keep in the Honeyminer network. Personally, I recommend paying it out to your wallet as soon as you can.
Honeyminer does charge a fee for this service. For a single GPU or graphics card, the fee is 8% but, if you have two or more GPUs the fee is only 2.5%. These fees are higher than other pools or services, and this deserves a closer look if you want to mine long-term.
The tool can be downloaded at honeyminer.com, and using my referral link is here will give you 1,000 satoshis for free.
After downloading, the installation and setup are relatively standard. Read and agree to the user agreement, and the installation will start. You should see a desktop shortcut to access the tool.
The first thing after installation is setting up your account with an email address and password.
If you used the referral link, the 1,000 satoshis should automatically load to your account.
There are tutorials available on how all the different features work within the tool.
A web interface can manage all your computers in one spot through a web browser. Unfortunately, the HoneyMotel feature, which allows you to pay for the use of more GPUs, is not currently available. It would be a good idea to check back later on because this is a profitable feature.
You can change some settings to suit your needs. By default, it runs in the tray. You can also change whether you get notifications, the ability to show BTC value, earning while idle or not, and which operating system(s) to use. The ‘earning while idle’ option is great for increasing your earnings. It kicks in when you are away getting a cup of coffee and shuts down as soon as you come back and move your cursor.
Besides higher fees, there are a couple of other drawbacks. First, you don’t have control over what kind of coins you’re mining. Everything is done on the backend, and you only see the results. Secondly, there is no option to switch the algorithm used. If you want to get more specific or hands-on, Honeyminer restricts your abilities significantly.
If you’re a beginner and learning the fundamentals of mining, Honeyminer is a decent application to begin your journey.