[Ethereum] Noob Question About Pool Mining & Wallets


I'm sure this is a stupid question; but please be gentle, I am still learning the basics.

Some Background:

I have a rig I purchased from a 3rd party that mines ETH using MiningPoolHub.com. It collects all the mined coins and displays them under my dashboard page on MiningPoolHub.com. Once it hits a specific threshold (that I set) it transfers the coins to coinbase wallet account. I have this address set on the wallet page of MiningPoolHub.com. This all works fine. As an educational exercise I have decided to build my own rig and mine using this same pool. It's built, running Xubuntu, and the etherium software has been installed.

The Question:

Here is where I am stuck. All of the tutorials and information I can find online seem to say the next step is to create a wallet where the coins will be deposited to. However this doesn't seem correct to me because my current setup leaves the coins in my MiningPoolHub.com account and THEN transfers them to my existing wallet with coinbase. Could someone please point me in the right direction of the next step I need to take?

Thank you for your time.

Best Answer

If you just want to keep using Coinbase, you could theoretically keep telling MiningPoolHub.com to send funds to your Coinbase account as you have been doing. In which case, you do not have to setup a new wallet.

However, Coinbase explicitly asks users not to mine to wallets on their site. It would be better to setup your own wallet (look into mobile wallet apps, they're super light and easy to setup). Then your miner can still point to MiningPoolHub.com, and then tell MiningPoolHub.com to send the mined ether to your new wallet (or Coinbase, but I recommend against it).

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