Creating a compatible wallet

Cryptocurrency wallets are similar to bank accounts in that they allow you to store and keep cryptocurrency in them. 

In order to mine cryptocurrency you have to have a wallet that is compatible with the cryptocurrency you're mining. At this time, the most profitable cryptocurrency to mine is Ethereum so Ethereum is the cryptocurrency that the Mineranch software is designed to mine. 

The easiest way in the United States to create a wallet that allows you to sell the cryptocurrency and convert it into dollars is to create a coinbase account. This will allow you to add your bank account information and transfer out any cryptocurrency you mine into useable dollars. 

What you'll want to do is go to coinbase.com and click on sign up. It will ask you for some personal information, including first and last name, state of residence and clicking an agreement confirming you are over 18. For the younger gamers, I would ask your parents to sign up for the coinbase account. 

It will ask you for a password and an email address. It will then require that you send a picture id verifying who you are and where you live. This is all necessary in order to legally transfer any cryptocurrency in the United States. 

Any of you wanting to use the software outside of the United States should check local laws prior to opening an account. 

The only thing necessary to use the software is to have an Ethereum wallet address and a computer with a compatible GPU. All that having a coinbase account does is make it easy to transfer cryptocurrency into U.S. currency and into a bank account that makes it spendable.