Is mining profitable?

Is mining profitable?

Let me share my experience, indeed, it makes money.

Why is mining profitable?

Let’s take BTC as an example. The common way we obtain BTC is from the secondary market; the other is mining.

The advantage of buying in the secondary market is that it has high liquidity and can be traded at any time; however, the frequent operation of the secondary market is extremely risky and behavior as pursuit risen up and abandons got down, which leads to more investment.

The cost of mining to obtain BTC is low and the controllable income is relatively stable, but the initial investment cost needs to have a payback period, which can be long or short. In contrast, mining has long-term, low-risk, and cost-controllable properties, so investors who pursue stable returns can make more money in the crypto market.

Does the fluctuation of currency price affect mining?

We have to make it clear that the mined coins exist in our wallets. When the currency price is high, it is definitely good, you can withdraw it from your wallet and sell it in the secondary market; when the currency price drops, then you can save it in your wallet and wait for the currency price to rise before you sell it. So whether it has an impact is depends on the selling timing.

How to avoid defraud in mining?

Several points are more important: 1. Is the miner you choose is reliable 2. Is the site hosted by the miner safe? 3. The machine that you buy must have low power consumption and high performance because this will directly affect your income.

How to choose mining projects and miners?

Mining projects must be promising, long-term stable, and capable of continuous development under the test of the market. BTC and ETH are undoubtedly great. According to my observation, Filecoin is also a worthy project. It has good ecological applications and is still being improved.

In terms of miners, the current development of the North American mining industry is relatively good. Many large miners and investment companies have deployed mining in North America.

The mining machine company that I chose was a miner registered in California, USA. First of all, they have already obtained investment from Wall Street Investment Institution and Singapore CR Capital Foundation in terms of capital advantage. In terms of the mining sites, Cloud Rush built the mines in California, USA, which are rich in clean energy. The regulations are fully compliant, and it also cooperates with Cyxtera, the second-largest data center in the United States, to provide mining machine hosting operation and maintenance services. Their mining hardware equipment purchases are all from well-known hardware manufacturers around the world provided with the high-spec and high-performance abilities that can meet the requirements of BTC mining.

In summary, you could get a worry-free mining experience if the above-stated standards have been fulfilled.

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Cloud Rush

Cloud Rush

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Cloud Rush can provide the most professional blockchain(Filecoin) one-stop mining service solution