Learn how to make money from Chia coin | OrganicWeb (2024)

Chia is a relatively new cryptocurrency. You can either buy Chia coins (also termed XCH) or you can earn coins by farming Chia using your computer. In this post I’ll describe how you can easily farm Chia using your Microsoft Widows computer.

Learn how to make money from Chia coin | OrganicWeb (1)

What you need to farm Chia

You’ll need the following to be able to farm, and therefore earn, Chia coins.

  1. A Microsoft Windows computer with Internet connection and at least 341GiB free disc space (SSD drives are recommended due to their higher speeds).
  2. The Chia application installed (download and install from the official Chia download page). A wallet will be created for you as you install the application)
  3. Get free Mojo (equivalent to .000000001 XCH) from https://faucet.chia.net/ . You may need this for the next step.
  4. A Pool (which is a community of farmers that farm together). There are various listings of available pools. The pool you choose will give you an NFT which will look something like pool.example.com . Make a note of this NFT.

How to earn Chia coins

There are two things you need to do to earn Chia coins; add a plot and farm the plot. I go into further detail below.

How to add a Chia plot

Adding a Chia plot (also termed plotting) is a process whereby a file (called a plot) is generated by the Chia application. The final size of the plot is usually 104.1 GiB. To plot:

  1. Go into the Plots menu of the Chia application.
  2. Click Add a Plot to the top right of the screen.
  3. Select any defaults and choose any directory on your computer (you don’t need any advanced settings). In the Join a Pool section, click ADD NEW PLOT NFT , click Connect to pool and enter the NFT of your chosen pool.
  4. Click the CREATE button.

You will now see in the application that you are plotting. Plotting takes a long time; depending on the amount of RAM and whether you’re using an SSD drive it will take about eight hours at a minimum.

You can always add more plots should you choose to.

How to farm a Chia plot

Farming is where you earn money. We need to create a plot to be able to farm the plot. Once you’ve created a plot then you can click the Farm menu item in the Chia application. Here you’ll see various information such as Plot Count (the number of plots you’re farming) and Total Size of Plots (the disc space that you’re using for your plots). You’ll also notice Estimated Time to Win which, at the time of writing isn’t applicable if you’ve joined a pool (this time indicates how long it’s likely to take for you to win a coin if you don’t join a pool).

One thing to take notice of is the date column under Last Attempted Proof in the Farm menu item. The latest date and time should be within a few minutes of the date and time of your computer. If the date and time is a few hours delayed there is something wrong.

The first time you run the app with a plot, the app will need to sync. This can take from several hours to days to complete. It’s annoying but just one of those things 🙁

And now, whenever you are running the Chia application, you are farming; the Chia automatically farms whenever the application is running.

The more plots you have the greater your earnings will be. Congratulations, you are now a Chia farmer 🙂

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Learn how to make money from Chia coin | OrganicWeb (2024)

FAQs

How to earn Chia coins? ›

Plot files are continuously scanned for valid proofs using a lightweight process through Chia's native app. Once proofs in the plot files are validated, a farmer creates a block to add to Chia's blockchain. You can get rewarded with XCH. Join a pool (farming community) for more frequent reward opportunities.

Is Chia crypto farming profitable? ›

Farming Chia can be very profitable, especially with larger hard drives. For example, an 8TB hard drive could earn you around $809 per month when the network is large, but this can change with market prices and network size.

How much is 1 Chia coin worth? ›

The Chia price is $20.13, a change of -1.46% over the past 24 hours as of 5:00 p.m. The recent price action in Chia left the Read more...

Is Chia coin a good investment? ›

Is it profitable to invest in Chia? Over the last 30 days, Chia had 16/30 (53%) green days. According to our historical data, it is currently not profitable to invest in Chia. The price of Chia decreased by -39.87% in the last 1 year, while the coin's 3-year performance is -89.00%.

Is Chia coin safe? ›

Unlike Proof of Stake blockchains, Chia is less susceptible to attacks or manipulations and avoids the issue of "the rich get richer" and centralization resulting from staking. Chia provides security comparable to Bitcoin along with the functional advantages of a smart coin environment operating on the blockchain.

What are the minimum requirements for chia farming? ›

The minimum spec is a Raspberry Pi4 with 4 GB of RAM for a CLI farm, or 8 GB for a GUI farm. (This guide will show you how to set up a GUI farm.) Many farmers choose a Pi because it consumes very little electricity. Plotting, on the other hand, is resource-intensive.

How much can you make with chia mining? ›

I was running the number average 10 tb makes around $3 a month at current price. And 10tb cost around $180 to get. You would have to do chia non stop for 5 years to break even that's not including halving.

What is the purpose of Chia coin? ›

Chia aims to address Proof of Stake (PoS) and PoW's shortcomings around centralization and electricity consumption by using a novel consensus mechanism called “Proof of Space and Time” (PoST). PoST intends to use less energy without compromising network security. This mechanism is a combination of two separate proofs.

What currency does Chia use? ›

Chia (XCH) and the US Dollar (USD) are two distinct forms of value storage and exchange, each with its unique characteristics. Chia, a layer 1 blockchain, operates on a proof-of-space-and-time (PoST) consensus mechanism, which aims to reduce energy consumption without sacrificing network security.

How does Chia coin mining work? ›

Chia is a cryptocurrency where mining (or farming, in Chia parlance) is based on the amount of hard disk storage space devoted to it rather than processing power as with proof of work cryptocurrencies such as Bitcoin. The platform was created by a California based company called Chia Network Inc.

What is the max supply of Chia coins? ›

XCH has a circulating supply of 10.72M coins and a max supply of 31.72M XCH.

How old is Chia cryptocurrency? ›

Chia was incorporated in August of 2017 to develop an improved blockchain and smart transaction platform. We are building the Chia Network to improve the global financial and payments systems. Chia is the first enterprise-grade digital money. Chia is using the first new Nakamoto consensus algorithm since Bitcoin.

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