Is mining a good way to earn cryptocurrency

[Hania iman]

We can earn cryptocurrency in many ways like doing trading , investment etc. But there is a way called mining to warn cryptocurrency like bitcoin. I don't think that mining is the easiest way to earn cryptocurrency. But if someone is very intelligent and clever then he can do mining. Tell me your opinion about it. I want to know that you like trading , investment or mining and please tell me the best mining site.

 

[Ebenn3]

We can earn cryptocurrency in many ways like doing trading , investment etc. But there is a way called mining to warn cryptocurrency like bitcoin. I don't think that mining is the easiest way to earn cryptocurrency. But if someone is very intelligent and clever then he can do mining. Tell me your opinion about it. I want to know that you like trading , investment or mining and please tell me the best mining site.

Yesm.i think mining is one of the best ways to earn crypto. It takes away unnecessary risks

 

[crypto333]

I have considered this question as well and sometimes it is better to just purchase crypto and hold it until it goes way up on the next bull run.
One of these times is now, since the prices of most cryptos are so low.
I have honestly had a hard time finding a good CLOUD MINING company, as so many of them are scams or have terrible customer service and bad reviews.
So I have pretty much stayed away from that. I did briefly join two cloud mining LTC sites. Both ended up being scams.
I am using CryptoTab full bore at 475,000 hashes per second on the setup I have right now.
Although I have paid a few hundred $ for the setup, my estimates are that it will be quite profitable by the end of the year, even if BTC does not increase in price. If BTC soars on another bull run later this year I have a chance to make VERY nice profits.

 

[benjonas222]

You may earn cryptocurrency without having to put any money down by mining. Bitcoin miners are paid in bitcoin for completing "blocks" of validated transactions and adding them to the blockchain.

 

[sincerem]

I don't believe in doing real Bitcoin mining using mobile device, miners buy expensive equipments and mine Bitcoin offline which is a proof of work ( POS) cryptocurrency. It goes through mining offline in order to mine a certain number the coins. It uses a constant power supply, that's why may countries aren't favourable with the system of Bitcoin mining. They feel it consumes the power supply which could've served many through to the high voltage it consumes. Bitcoin mining can't operate successfully without stand by power supply and mining at a high voltage, which many deemed causing 'environmental hazard, because, it disposes of carbon dioxide into the air during it's mining processing. This kind of activities isn't what we think Mobile Phones can successfully execute, our phone can only do some virtual mining which isn't real mining. Which comes in like a task or tasks we are doing in a particular website, app and the site or app owner gives us commission just for our activities around their platform. Most of those Bitcoin or crypto mining platforms don't even fulfill what they claimed to offer, which is fraudulent and a downtime when it comes to doing virtual mining with the phone.

 

[achawaskey]

I don't really know the best mining site, I will only tell you to be careful to once recommended to you because there a lot of them and some are scamers. Mining is the best way to own a cryptocurrency, only if you have the Mining equipments and are ready to pay for the electricity consumption or set up your own generation station.

 

[Kathyfly]

According to my experiecne. The answer is yes. Especially in the bear market.

 

[robertshall21]

Cryptocurrency is mined using expensive computer hardware and miners are rewarded with cryptocurrency such as Bitcoin and Ethereum for verifying blocks of transactions to the blockchain network. However, as more miners join the network, the process of mining becomes increasingly difficult. So the profitability of your crypto mining depends on the cost of equipment and electricity incurred by you alongside some other related factors.

iCryptoWorld is a company based out of Russia that provides equipment rental services for cryptocurrency mining and also has its own green DeFi token - the iCW Token, which is available for trade on BitMart Exchange. Learn more on the official website.

 

[Iqra]

Yes, we can earn cryptocurrency to invest or from trading.

 

[blessingc]

I don't really know much about mining, I just started it recently.
But the best way I think to do crypto is by investing. Investing big time I the best.

 

[Austinaldo]

Mining doesn't seem profitable any longer. For now it is super capital intensive and demands a whole lot of computation and electricity. For people from third world country who doesn't fair well financially, it is not a profitable means of earning in the industry. For others who come from wealthy climes, it might be but that just depends on your financial capability.

Those apps and sites asking you to perform task to earn free BTC are simply scam nothing more. They call it BTC mining but it isn't. You don't mine BTC that way. I suggest reading wider into the subject matter to know more about it.

There's no use wasting time and resources following those sites and end up being used for cheap labor.

 

[Trigonal]

Mining is a good way to earn cryptocurrency if you have the capability to invest in equipment. Cryptocurrency mining is a very competitive activity, so you should join a mining pool to get a better chance of earning cryptocurrency. There are several mining pools available, and they allow you to mine different coins. Using a mining pool also means that you share the work of mining with other miners, so you will get a constant stream of smaller payments rather than a single large payment.

 

[maidnagi]

Earning money through mining has become quite a competitive business. It can be considered a good way as you don’t need to put any money down. Miners are paid for completing blocks of valid transactions by adding them to the block chain.

 

[MarkRobins]

We can earn cryptocurrency in many ways like doing trading , investment etc. But there is a way called mining to warn cryptocurrency like bitcoin. I don't think that mining is the easiest way to earn cryptocurrency. But if someone is very intelligent and clever then he can do mining. Tell me your opinion about it. I want to know that you like trading , investment or mining and please tell me the best mining site.

Both trading and investing are parts of mining.

 

[Sotherefore]

I will not advise people to be looking for opportunities to make money with mining because it might not likely work. If you are mining from platforms that claims to pay people to tap on Thier mining button then you have to understand that it will definitely takes a lot of time for you to be able to mind a reasonable amount of cryptocurrency which to me is not worth the stress...

Normally mining can only be carried out when we have a mining pools of life and this is one of the most popular way of mining cryptocurrency .

It is not even advised for us to consider mining of cryptocurrency with our laptop because the mining process might takes a lot of power, this might be too much for a computer to handle which will definitely increase the chance of computer damage. I believe that mining is not really easy it seems to be.

 

[mmrahmantitu]

Yes, mining is an excellent way to earn cryptocurrency. In exchange for cryptocurrency, mining is essentially the process of using your computer to solve complex math problems.

The two most popular cryptocurrency mining platforms are Miners and Genesis miners. Both of these can be used to mine different cryptocurrencies.

Miners are used to mining Bitcoin and other cryptocurrencies that use SHA-256 as their hashing algorithm. Genesis miners are used to mining Ethereum and other cryptocurrencies that use Ethash as their hashing algorithm.

 

[midnightcobras]

Yes, I mine on a daily basis. I also look into less hyped cryptos to mine. Like right now I mostly mine WEI cryptocurrency

 

[Abessive]

Yes, mining is a good way to earn cryptocurrency. Mining is the process of verifying transactions on the blockchain and adding them to the blockchain. Miners get cryptocurrency in return for their work. Mining is a good way to earn cryptocurrency because it is a secure and decentralized way to verify transactions.

 

[kriptopoulin]

thanks @Hania iman It's much appreciated that you provided this information.

 

[Phytology]

Yes, mining is a fairly good way to earn cryptocurrencies. However the problem is that, the energy required to mine bitcoin will consume a lot of power, electricity and any other kind of energy. So you must possess the right computer equipment, and a stable source of high electricity supply to mine which makes it a costlier process.