Should you engage in mining? What you need to know before buying a video card to go in on the cloud hashing? Gifs Ryan Gosling will help to answer all the questions. What does Gosling? Yes, at anything, he’s just cool.
Count the benefits
First of all calculate how much it will cost for equipment, rental space and electricity. Then how much time you will have to go on the mining of one unit of the cryptocurrency. Try to understand how much time you will be able to beat the costs and how much you will earn in a month. Considered? Now imagine that the price of bitcoin has fallen 30 percent (in this market it happens). Your project is still profitable?
Make sure it is legal in your country
In most countries, the cryptocurrency market is not regulated, and penalties for mining is not provided. But still need to figure out how your authorities treat the mining and selling of cryptocurrencies, subject to whether the activity is taxable, not whether there were plans to introduce new restrictions.
Select the currency
For mining various cryptocurrencies is to perform calculations of varying difficulty, so you may need different amounts of electricity. In addition, prospects for further growth in one way or another cryptocurrency may vary depending on the technical features of the demand among investors and other reasons.
The equipment varies in price and technical parameters, one is better suited to some cryptocurrency, the other for others. From there, you can even buy a devicethat will not only mine bitcoins, but to work as a heater. Another option is to do cloud mining.
Think about how you can invest in mining
You do not have mine cryptocurrency on their own. If you are attracted to more traditional ways of investing, you can invest in stocks of manufacturers of equipment for mining.