Mining Wallets

GethskyGethsky Member Posts: 9
Hi Everyone - My apologies if this question has already asked and answered. I just haven't been able to find anything.

What wallets should I use for mining? I recently started mining and I came across several videos that warn people to be careful about what wallets you use for mining. In fact they tell people to read the user agreement before you use a wallet. Here are two examples:
  1. Jaxx
    Jaxx gives the following warning to their users - No, Jaxx is a lightweight wallet that is not designed to receive mining payouts. We do not recommend pointing any mining rig payouts to Jaxx as it may cause issues on your end as well as potentially causing issues on our end.
  2. CoinBase
    CoinBase Give the following warning to their users - Please note that Coinbase cannot be used to receive ETH mining rewards.
If this is the case what wallets are appropriate specifically for mining?


  • GethskyGethsky Member Posts: 9
    Hmm, Ill give it a try.
  • Hrithik_JayanthHrithik_Jayanth Member Posts: 12
    gethsky iam glad you opened this thread ,i had the same doubt.
    Mr rolandats , iam new to this , and i apologize before hand for being a noob.
    but can you please tell me what are the drawbacks of using a light version as you have mentioned .
    i have never transacted anything with cryptocurrency before so , what would i lose if go for light version rather than full node sync?
    please guide me
  • Hrithik_JayanthHrithik_Jayanth Member Posts: 12
    @Gethsky did it work for mining?? please help me
  • erstwealerstweal MidwestMember Posts: 122 ✭✭
    Why wouldn't you just mine to your local wallet and transfer ETH out to Coinbase afterward?
  • GethskyGethsky Member Posts: 9
    @erstweal I think we need to be specific when you say "Local Wallet". What's the name of this wallet?

    @Hrithik_Jayanth I'm still working on understand the difference between one wallet and the other. I understand the hardware vs software wallets. But I don't understand what makes a wallet a mining wallet.

    In case people are wondering - Here's the video I found that come about asking this question. As you can see from his example, many micro transactions are lost which results in lost of currency for you. Again, you're losing money by using the wrong wallet.

  • erstwealerstweal MidwestMember Posts: 122 ✭✭
    @Gethsky I mean the wallet I created when I first installed geth through the geth account new command. That would be set as my coinbase. In my case, I mine to a pool using that address to collect ETH. Then I move it to my coinbase account every once in a while.
  • rolandatsrolandats Member Posts: 17
    Hello Hrithik_Jayanth,

    yes the wallet works for mining and yes as long as you run the geth shortcut first you will see transactions.

    Hope that helps,

  • Hrithik_JayanthHrithik_Jayanth Member Posts: 12
    @rolandats @Gethsky @erstweal thanks for all your inputs guys!!:)
    mr erstweal i tried to get the fast sync done multiple times upto no avail ,it took days before it got stuck ,completely filling up my hard drive (for the fast sync),so i could'nt use the account which i got when i first created geth.
    so i moved on to light mode of geth as suggested by sir rolandats , it got synchronized in very lil time .
    i opened one additional account ,the other one being the already existing main account .
    and i have used the 2nd account's address that i created for the mining address for nanopool.
    i hope it will accept mining payouts from pool. and sir what are the drawbacks for light mode over full node?
    how to know the credentials for the pre existing main account?
    and are there any specific list of commands for the light mode or can i use the same commands for normal geth for light mode , for functions such as balance enquiry and transaction details ?
    need i use the 'geth --rpc' command again? or is it enough to just open the shortcut?
    iam sorry for being such a noob ,iam new , please excuse me for this long question.

    your HELP is MUCH appreciated
  • erstwealerstweal MidwestMember Posts: 122 ✭✭
    @Hrithik_Jayanth You can type 'geth account list' to get the names of your accounts, they should be 0 & 1 in your case. Your actual encryption keys are stored in your keystore which is in a hidden directory named .ethereum. If you go to your home directory and then select the view tab across the top and highlight show hidden files, you should be able to find the directory and navigate there. You don't want to make any changes to them, but if you want to copy your account to another computer, you would need those files.
  • KainzoKainzo Member Posts: 12
    I mine to coinbase without any issue.

    I would mine to Exodus Ethereum wallet, TBH
  • Hrithik_JayanthHrithik_Jayanth Member Posts: 12
    @erstweal thank you for your input :)

    But I still don't know the drawbacks of light mode
  • erstwealerstweal MidwestMember Posts: 122 ✭✭
    @Hrithik_Jayanth I don't know the drawbacks of light mode, but I have a question. You mentioned that the chain filled your hard drive. I show my chaindata as being about 56 gig, how large is your drive? I'm using about 76 gig total of a 120 GB myself.
  • Hrithik_JayanthHrithik_Jayanth Member Posts: 12
    @erstweal as of now , i have 86gb free out of 199 in c drive ,
    this is after removing the database and uninstalling 19 gb of games
  • MATHReXMATHReX Member Posts: 5
    My experience with redirecting exodus eth address to mining pool is been very good. I'll recommend it to all because I've nevere faced any issues with this wallet.
  • boncobonco Member Posts: 1
    @rolandats thanks, your guide helps a lot! I myself am a noob and i have troubles with 8th point and on... when i download the latest Ethereum wallet from ( i cant find the do;der called "win-unpacked", so i downloaded an older version ( where i found a do;der called "win-unpacked" and moved it to my root on the C: Drive . I have renamed the folder "win-unpacked" to "Etherum_Wallet" and then got to the folder "Ethereum_Wallet" , but i wasnt able to find "Ethereum Wallet.exe" . What should i do?? Have i done some thing wrong?
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