Published on January 13th, 2018 | by admin
How to make money mining Bitcoin
Okay….So unless you’ve been living in the dark ages then the chances of you not knowing about bitcoin are pretty slim. Bitcoin and all the other blockchain based coins have blown into the mainstream over the last year.It’s like the goldrush all over again, and many people have turned into multi millionaires based on the number of coins they bought when they could buy over 1000 for less $1 dollar. BTC (the abbreviation of Bitcoin) currently sits at over $14000 dollars per coin. It peaked at close to $20,000 per coin at the end of 2017, and many are predicting it could reach $100,000 at least in the coming months. So how do you get in on it ? You mine.
You can set up to mine with your own equipment if you like, and that will probably make you slightly more bitcoin longterm. However, you have to buy the equipment, which for a decent mining rig runs into thousands. Custom mining computers run on what are essentially special chips that are fully optimised for doing nothing but “hashing”, which is the number crunching required to get hold of the coin. It’s much easier to do it in the cloud. I’ve been using a company called hashflare, and the process is actually very simple.
I’d also like to say that these figures are based on personal experience as of January 2018. I am currently making a return of 1% a day on my initial investment. So… after the initial costs are covered in approx 100 days, then it leaves roughly two thirds of the year to make pure profit. You can also reinvest your mined coins to buy more computing power if you like so that eventually your daily stash will go up quite considerably.
You can sign up for free account here and have a look. You dont need to provide any financial details up front to check out the system.
The most profitable method is to buy SHA-256 and stick to bitcoin. Its that simple. Order as much as you’d like to experiment with (as little as $2 dollars worth), wait 24 hours for first payout and just watch it roll in.
Good luck and enjoy the process. It’s worth mentioning also that when I signed up, the difficulty level of mining( the number crunching bit) had gone up so it was making twice as much the previous month. That goes up and down, and more that likely to go down again at some point so higher returns are possible.
Right. And heres the disclaimer. Do your own research ! I did and im glad ive signed up so far. It could all go pear shaped tomorrow but I know the risk i’m taking. NEVER put in more than you can afford to possibly lose.
DISCLAIMER: This site cannot substitute for professional investment or financial advice, or independent factual verification. This guide is provided for general informational purposes only. We are UK-based and not regulated by the FCA (Financial Conduct Authority). The group of individuals writing these guides are cryptocurrency enthusiasts and investors, not financial advisors. The ideas presented are our analysis, learning & opinions on a range of cryptocurrency topics. Trading or mining any form of cryptocurrency is very high risk, so never invest money you can’t afford to lose – you should be prepared to sustain a total loss of all invested money.
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