With cryptocurrencies getting more and more popular day by day, many people have explore this form of currency and aspired it to be the future of money. Some decided that they can profit from it by investing in it, whilst some began to convert all forms of cash that they have to crypto currencies, with the dream of their money to grow.
A minority of people, on the other hand explored ways in which they can earn cryptocurrencies. One of which, is Crypto Mining.
What is Crypto Mining?
Crypto Mining is a process where people make use of their computer GPU, to solve complex computer codes and in turn, crypto currencies are earned.
Is it Profitable?
The simple answer is no. Crypto mining actually uses a lot of electricity and that equates to cost. The speed in which you mine cryptocurrencies depends on what GPU systems you have. A GPU with a high level of efficiency would be costly. For example, the NVIDIA GeForce RTX 3060 Ti, claimed as one of the best GPUs, costs $399 and can mine only $0.29 USD worth of crypto currencies a day. At the end of the day, the worth of the Cryptocurrency that you had mined is still "paper profit", as it still depends on the market price of the cryptocurrency. With the crypto market performing really bad lately, I would not regard Crypto Currency as profitable, since you still have to account for the costs of electricity and equipment.
That's it for my little sharing. I welcome all users to share your opinions and experiences (if any) on crypto mining. Cheers!
A minority of people, on the other hand explored ways in which they can earn cryptocurrencies. One of which, is Crypto Mining.
What is Crypto Mining?
Crypto Mining is a process where people make use of their computer GPU, to solve complex computer codes and in turn, crypto currencies are earned.
Is it Profitable?
The simple answer is no. Crypto mining actually uses a lot of electricity and that equates to cost. The speed in which you mine cryptocurrencies depends on what GPU systems you have. A GPU with a high level of efficiency would be costly. For example, the NVIDIA GeForce RTX 3060 Ti, claimed as one of the best GPUs, costs $399 and can mine only $0.29 USD worth of crypto currencies a day. At the end of the day, the worth of the Cryptocurrency that you had mined is still "paper profit", as it still depends on the market price of the cryptocurrency. With the crypto market performing really bad lately, I would not regard Crypto Currency as profitable, since you still have to account for the costs of electricity and equipment.
That's it for my little sharing. I welcome all users to share your opinions and experiences (if any) on crypto mining. Cheers!
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