Good-Guy
VIP Contributor
Cryptocurrency mining is considered one of the most profitable ways to make money. It is one of those ways that could bring money without basically doing nothing except monitoring your hardware and seeing your earnings grow by the passage of time. Mining has remained one of the hottest topics in the world of cryptocurrency enthusiasts and this is why many people have taken a lot of interest. However, there are various aspects of mining that many people overlook. For example, mining involves you to buy really highly valuable hardware and machines and this will make it much harder to make profits and you will be required to wait for a long time to make profits. Let's say the cost of the hardware is $1,000 and this $1,000 worth of hardware hardly generates $1 in a day. Please note that I am only using this as an example because many $1,000 worth of hardware do not even generate $1 in a day for you. If we assume that it generates $1 per day, then it would generate 1 X 30 = $30 per month and 30 X 12 = $360 per year. This amount is quite low for a $1,000 investment amount. Please also note that you may also need to calculate other expenses such as machine repair expenses and electricity expenses and this would make you earn $300 per year approximately. So, do you think mining can be a waste of time?