Nowadays, mining digital currencies such as, ₿ Bitcoin, Litecoin, Ethereum and so on has become a good approach to invest money on the Network. Although a few countries are still struggling with recognizing digital currencies as a replacement for the future transactions, it is now a way of exchanges in most of 1st world countries.
How to Start ?
Obviously, you can start mining by your own cellphone, computer or even your laptop. However, it won’t be a good start since the price of electricity might be a little high in some countries. This however depends on your device’s hardware and the risk of your hardware.
I remember the last three years when Bitcoin had no precious price. I could buy or mine Bitcoin so easily and I just had no idea how precious Bitcoin would be. If you take a look at this website, The 2012 block halving was the first halving mined by SlushPool. Every four year, after that halving, the reward of Bitcoin will be half.
it will drop from 12.5 to 6.25.
Means, HALF! If you take a look at the price after each halving, it became even 10 times than the first price before halving.
You’ll definitely need ASIC chips in order to Mine some Bitcoin in each day or month. With the current Bitcoin halved and price ($10,356.69), You’ll need to use at least 3 Miners (Which has ASIC chips) in order to mine $10 USD a day.
Use NiceHash profitability calculator in order to see how much you’ll earn with each devices.
Investing on digital currencies in some countries which has lower electricity price than the others can be a good start, although you’ll need to be worried about the place, weather and etc.
- You gotta hurry up since
Block Halvingwill happen in
232 days, 2 hours, 7 minutesand after that, mining will be a difficult task and the price will rise for sure.
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