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Cryptocurrency Mining: Magic or Maths?

cryptocurrency mining

Why cryptocurrency mining is the safest & Rewarding way to own crypto?

This may surprise you but cryptocurrency mining is as rewarding as mining for Gold. The only difference is that with mining cryptocurrency, you mine for code instead of ‘Gold’

Cryptocurrency Mining

A decade ago, an individual or group of people by the name of Satoshi Nakamoto, introduced the World’s first digital money “Bitcoin”. The first so-called ‘democratic’ cryptocurrency- one which is owned, produced and controlled by people or users who are part of the bitcoin blockchain network.

In this comprehensive guide, we are going to highlight the benefits of making or mining cryptocurrencies like Bitcoin. We are also going to discuss why cryptocurrency mining is one of the essences of successful investment over this new technology.

Benefits of Cryptocurrency Mining

There are some major benefits of cryptocurrency mining as highlighted below:

  • Low Investment
  • Better ROI
  • Fast, secure and easy to use
  • Easy way to own cryptocurrency
  • Value Mining Equipment
  • Gold 2.0 (Value Exchange)

Let’s discuss some of them in detail for better understanding

Low Investment

Compared to buying cryptocurrency from market or exchange, it is relatively much cheaper to conduct mining operations. In order to start mining,l you need to buy hardware equipment. After the installation of hardware and software systems, you can enjoy the steady rewards of new coins. Also, the equipment needed for mining is a one-time investment making it relatively cheaper than other options such as trading.

Nowadays, the market value of cryptocurrency is higher than the GDP of some countries. Moreover, it is growing faster than other commodities or economics. Hence it becomes difficult for average citizens to hold pricey and popular cryptocurrency like Bitcoin or Ethereum.

Alternatively, mining provides a good option to own cryptocurrency. As of today, you can build a rewarding mining rig with multiple GPU cards and a power supply under 1000$. However, to run a profitable mining farm you will need more power and capital to fill your bags with coins.

Better ROI

In relative terms, cryptocurrency mining also offers better ROI. The investments needed in this industry are mining hardware equipment, cost of setting mining rig, power connection, electric consumption, and the cost of coolants (required in case of mining at high temperatures or hot weather). 

The nature of cryptocurrency is extremely volatile and the daily transaction volume keeps on changing at a rapid rate. However, the return of crypto mining also depends upon the price of crypto while you mine it. Furthermore, you can get substantial returns on cryptocurrencies after holding it for a long time.

Additionally, mining equipment also has a strong value in the market. It is a safe harbor for investors who can receive modest returns in case of selling it. 

Thus, cryptocurrency mining can provide faster as well as safer returns to investors.

Secure and easy to use

After earning your coins through cryptocurrency mining, you can put it into multiple uses. You can either convert it to cash in order to pay for electricity or you can choose to take out the profits. It is vital for any business to have easy access to sell the product they produce and earning coins through mining exactly meets these requirements. 

Any user can choose to sell crypto in exchange for goods and services in almost any part of the World. You can easily sell, or trade your crypto in exchange of fiat money too. With time, more people will join the crypto community and adopt digital coins.

Easy Way to Own Cryptocurrency

As crypto adoption is on the rise, more and more people want to get on the wagon of cryptocurrencies. However, you need to understand that they are extremely volatile, and you can lose money. 

Cryptocurrency mining is one way to own cryptocurrency. With mining, you can get steady returns in the form of new coins. Furthermore, you don’t need to be present or monitor operations round the clock. Everything- from mining to verification of transactions happen automatedly on the network.

Mining Cryptocurrency 2019

Mining cryptocurrency in 2019, has turned competitive. As far as the list of mining cryptocurrency for the year 2019 is concerned, below mentioned are 10 mineable coins based on Market-cap :

  • Bitcoin
  • Ethereum
  • Bitcoin Cash
  • Litecoin
  • Bitcoin Sv
  • Tron
  • Cardano (Ada)
  • Monero
  • Chainlink
  • Dash

Final Thoughts

cryptocurrency Mining has turned into massive businesses for all specifics. Whether it is for mining hardware, or for cloud mining operation- it has become an industry within itself. Overall, it is a method that involved making analyzed and researched decisions on mining hardware, location with respect to electrical consumption and mining software as well. If you know the game of mining, it is an efficient way to earn passive income in the crypto sphere.

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