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Online crypto miner purchase

How to Keep Costs Small and Profits Big

The first thing that you need to understand is that, just like rushing out to California, buying a pick, and riding your donkey into the hills, mining cryptocurrency is a bit of a gamble. Even the more obscure blockchains have thousands of miners racing each other to find the winning hash. The greater the competition, the more difficult the challenge and if you don’t win the block, that’s a lot of time and literal energy wasted.

The first decision you need to make is what currency you’re actually mining. This will influence every other decision you make and it is in itself a complicated question. You need to consider the currency’s value and block reward against the difficulty of the hash and how many other miners are chasing the prize. The more difficult the race, the meaner your machine needs to be.

You’ll also need to consider the investment side of the equation. Some mining can be done with the PC you already use, but in most instances getting serious about mining means you’re going to want to invest in a purpose-built system. That means spending real money and it could range from hundreds to tens of thousands of dollars depending on the currency you’re chasing and how competitive you want to be.

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