Everyone is in a hurry right now because they want to know how much does it cost to mine Bitcoin? This question is the one which is on top of the list right now.
- How to earn on the mining
- Experiences miners around the world distinguish 2 most interesting ways of earning bitcoins
- Ways of earning on mining
- Independent mining
- Cloud mining
- Profitability of earnings
How to earn on the mining?
When asking yourself how much you can earn on mining, it is worth taking into account that mining or the production of bitcoins becomes more extensive (more often a farm is created) every year, hence the process becomes more complicated. It should be noted that in the current economic situation, the number of people who earn cryptocurrency is increasingly switching to the exchange trade in crypto-monets.
The rate of crypto currency is much easier to predict than standard monetary equivalents (dollars, pounds, etc.), therefore, if there is minimal knowledge of trading, you can multiply your capital by several dozen times.
Experienced miners around the world distinguish 2 most interesting ways of earning on bitcoins:
So if you ask yourself a question: how much money can I make from bitcoin mining? Then there are some tools for you!
Trade in crooked currency
There are also earnings for mining bitcoin using resource cranes and hard drives. But it’s worth noting that the scale of earnings on this technology is extremely small and not cost-effective, in relation to the time spent.
At many at a mention of a phrase “Mining of Bitcoins” there is a first and most interesting question for them: how does this process occur? The answer is simple: special sites use the computing power of computers to conduct their actions directly on them. No, the PC does not download anything, it only acts as a “worker”, which is needed to perform a certain work. The payment of works is bitcoin.
Bitcoin, unlike all standard currencies – private property, but not a state. This method is possible thanks to multiple computers scattered across many countries, they are also called “online miners.” This approach has both a positive side and a negative one: the transfer of money is completely protected from hacker attacks, because each computer is a link in a huge chain, but at the same time, this leads to the problem of long waiting for the transfer of earned money (but the commission is always happy).
BitcoinHow much can you and how to earn on the mining of cryptocurrency on the Internet (2017)?
Everything depends on the computer’s power, which generates a cryptocurrency. The current economic situation has a favorable effect on the increase in the bitcoin rate, but at the same time, the complexity of extraction increases, because at the moment there are many farms with capacities that can not match any private entrepreneur. In addition, it is necessary to update graphic amplifiers in a timely manner so that the business is as cost-effective as possible. When using the services for the production of air, using several powerful video cards, you can achieve a result of 500 $ a month without taking into account the bills for electricity.
Ways of earning on mining
How much can you earn on mining bitcoins per day? For an expanded understanding of the most common and effective types of mining is required briefly, but it is understandable about them to tell:
In order to implement this method will require an initial investment, for which it is necessary to buy high-capacity computing equipment. The cheapest option can cost from 500 dollars and more. Under the value “more” there is no limit. In Japan, there are entire farms of bitcoins, where thousands of computers are installed, the cost of which is estimated at millions of dollars.
The average version, high-quality production will cost about 1 thousand US dollars. Experienced miners understand that for the implementation of normal production, it is necessary to have about a dozen computers in order that the money spent be returned in the shortest possible time. in addition to the unit’s price, it is necessary to pay for electricity, constant maintenance, software, and premises. The profit per day depends on the number of farms and their capacities. Usually, the profit from 2-3 powerful farms is 17-20 $.
The concept is quite simple and understandable: the interested person turns to special services for the extraction of virtual coins. Pays a certain amount (each has its own) for the provided computing power, which is spent on the development of the crypto currency. The nuance lies in the fact that the earned money can be removed only when a certain amount of time is spent (not always depends on the service), after which the funds can be withdrawn. It is worth remembering the fact that the number of bitcoins is limited to a sum of 21 million units.
The question is: how much can you earn on cloud mining? The answer is simple: exactly how much money is invested and for what period. The profit is calculated directly on the website when the application is processed. As a rule, it depends on the number of funds invested.
This method is the safest and low-cost because there are eliminated problems with overheating of components, replacement with new ones, etc. In a sense, it is similar to the contribution to the bank at interest.
Profitability of earnings
The issue is of particular urgency, and therefore the profitability of this kind of activity depends on several important conditions described below:
the price for one mined crypt;
the amount of investment;
profitability of a certain service engaged in cloud mining;
a degree of complexity of coin mining.
How much does it cost to mine bitcoins? Not a lot but more than you can spend on your new iPhone. The main ways of doing it are cloud mining and independent mining. Which one is easier is your turn to choose!