Do you follow the course of digital currencies? Cryptocurrency capitalization grew by 32%. If in February cost оf Bitcoin was 3 thousand dollars, today it is almost 10 000 dollars. What is this talking about? This investment in digital assets is profitable. According to experts CDLCONLINE24, mining is one of the most effective ways to make money on cryptocurrencies.
Mining means “providing computing power to perform certain calculations and network performance”. The hashing speed depends on this. Therefore, it affects ecosystem security. Experts say, that in 2019 the bitcoin network saw the highest mining volumes. In October, the hashrate reached its all-time high of 114 EH/s.
Mining costs are one-time, they come back with time. The constant component of this process is the electricity. Higher equipment capacity means more volumes. Competition for the coin is growing due to the approaching halving (in May 2020). This leads to a reduction in profits with each newcomer.
The company CDLCONLINE24 found out that you can profitably mine other cryptocurrencies. These are Etherium, LiteCoin, Monero, Zcash, Dash, etc.
Advanced specialists mine several cryptocurrencies to diversify volatility risks. Temporary failures of one asset are overlapped by others.
So, if you decide to start producing new coins, you need to answer such questions:
· what method do you want to use for generation;
· how to mine cryptocurrency;
· what digital asset do you want to mine;
· which platform do you want to use for digital currency mining.
Previously, you could use any computer for mining. Today, the Bitcoin network has grown, tasks have become more difficult.
To make money on mining, you need to choose powerful equipment. CDLCONLINE24 recommends the use:
1. CPU (using a PC processor). This method is considered the least efficient, even with the most productive processor it is impossible to earn a lot;
2. GPU, or mining on a video card. Using this method, you can mine cryptocurrencies, but you need to buy powerful video cards GeForce, Radeon;
3. Asic. Investing in such mining devices will quickly pay off. The cheapest way to purchase such equipment is in China, since it is difficult to find a new device in the CIS countries;
4. Farms. This is mining equipment where several video cards are used. They are connected to one or more computers. In our country it is the most popular;
5. Cloud mining. With this method, you will mine coins remotely. You do not need to use the resources of your computer;
Cryptocurrency mining is not prohibited in the CIS countries. However, you must comply with local laws. Cdlconline24.com wishes you a profitable cryptocurrency mining!