Mining Cryptocurrencies Turns Out is Incredibly Easy
$BTCUSD, $AMD, $NVDA, $INTC
How to make money mining Bitcoin and other cryptocurrencies without knowing anything about it.
Okay, cryptocurrency mining is not for everyone, and it might seem daunting even for those who are interested. But, as it turns out, it is incredibly easy.
The fact is you do not need extreme know-how about computers to do any kind of crypto mining, and it can be be done by the average person.
What you do need though is computer gear powerful enough to make mining profitable, and a handy piece of software called Nicehash.
You just press the Green Button on Nicehash to start mining.
Currently, Bitcoin is trading at: 8,470.0049, +528.34, or +6.65%, as of 4:54a GMT, the market is open
Crypto mining on Nicehash is said to be a fun project. Do not expect to mine at huge amount of cash at your home desk, but you will pick up some coins, like the ones you might find on the sidewalk walking in the street.
Big mining organizations have warehouses full of powerful computer parts that can generate a ‘tons’ of cryptocurrencies.
At the end of the day, experts suggest doing it if you have a gaming PC with an appropriately powerful graphics card, it is the Key component for mining, and electricity costs are not too high, as crypto mining can suck up a lots of energy.
Got questions on Bitcoin, Ethereum, Ripple ? G-BiTX has the answers, the company has launched a channel on Telegram to help people navigate the world of CryptoCurrencies.
Join the Channel Now, Click Here
Before you can do anything, you have to make sure you have the right gear.
So, whether or not you know anything about mining, you need to have some powerful hardware.
You could mine with a basic computer that only has a processor, like an Intel (NASDAQ:INTC) or AMD processor. But graphics cards that PC gamers use to power their games are much better suited for the job.
For the best results, you’ll need desktop PC and Nvidia (NASDAQ:NVDA) or AMD (NASDAQ:AMD) graphics cards. Laptops, even the gaming variety, may not be very well suited for mining.
For Nvidia cards, you’re better off with the current GTX 1000 series of graphics cards, like the GTX 1060 (6GB model).
As for AMD cards, the best models include the RX470, RX480, RX570, RX 580 (8GB model), RX56, and RX64.
Good luck finding an AMD card at any sort of reasonable price these days.
It is best to start off with what you have got before splurging on several cards for mining. At this stage, even if you have experimented for a few days and you still interested in mining, it is recommend to wait a while.
Nvidia is expected to announce new cards in March. Those new cards will likely be more efficient at mining than the current ones. You do not want to spend money on cards when new models are on their way.
You have some time before AMD releases a new card, as it’s expected to release new cards in August.
If you do not have any of those recommended cards, then it is worth waiting until the new models are released, at least if you want Nvidia cards.
Graphics cards are also being sold at inflated prices these days, when you can find them, due to shortages in supply, and it is almost entirely because miners are buying up all the cards
Have a terrific week.
Latest posts by HEFFX Australia (see all)
- Technicals To Trade Tesla (NASDAQ:TSLA) Stock - October 21, 2020
- Amazon (NASDAQ:AMZN) Stock Buy Or Sell * Should You Buy Amazon Stock Now? - October 21, 2020
- Apple (NASDAQ:AAPL) Current Price Movement Open For Both Directions - October 21, 2020