If you are one of the early adopters. You just got lucky because mining crypto coins is for you!
You might have heard about Bitcoin, the first decentralized cryptocurrency which was released in 2009. After that many cryptocurrencies were found. Bitcoin Cash being one of them was actually a spin-off by Bitcoin. Now let’s get into crypto-coin mining and look at how it really works
Is It Worth It?
This question pops in the heads of many. Is it really worth mining cryptocoins? Cryptocoin mining is like a hobby where you can easily generate a dollar or two per day. Digital currencies are very accessible for people to mine. But does not make it a reliable source of income for everyone! If you are willing to invest a huge amount of money like $3000 or $5000 then only you can make a profit of $50 per day. That’s about it! So, one should probably think before they start mining some cryptos. It’s not a piece of cake even though its accessible. Be smart and play it cool!
Which Alt-coin Should Be Mined?
Bitcoin is not at all suitable for beginners. We would say try out Dogecoin, Litecoin and Feathercoin. They are your best bet! Dogecoins and Feathercoins would make slightly less profit with the same mining hardware but they still are becoming popular. Peercoin is also a cryptocurrency which can provide you with a reasonable amount of return on your investment. So what are you waiting for? Begin the mining!
Worth A Shot
If you’re asking for the truth then we’ll give it to you! People are mining every day! Which is exactly why your choice would be more difficult to mine as expensive hardware will be needed to discover good price coins. The only way you can survive is if you invest heavily or you can just switch to an easier cryptocoin. The latter option is a better investment opportunity because if you’re investing big, you’re in for a risk. But, if you succeed you’re the pro!
Set Reasonable Expectations
If you want to earn substantial money as a second income then you have to make sure you invest real cash instead of mining cryptocoins. However, there’s also a slow way to do mining which is by smart mining. Low electricity cost and mining with 4 GPU video cards can lead you to 8.00 to $10.00 per day. It also depends on which cryptocurrency you are using.
There’s a hope that one day other existing cryptocurrencies have the same value as Bitcoin. Then maybe you will find yourself rolling in thousands of dollars. Never lose hope buddy its good for your soul ! Also, its good to dream big it keeps you motivated!
So, are you the type of person who is interested in mining or will you just exchange your real cash for cryptocurrency? Let us know in the comments section below!
p.s If you’re looking to exchange your real cash for cryptocurrency, but don’t have a clue from where to start then we have the perfect guide for you!