If you’re new to mining, there are 2 ways you can start
When you just learn about Bitcoin, found out how does it come from and you realize it’s all about this thing — Mining.
How to get started? How to join to the club?
There are two ways you may be interested to know.
Before introducing them, I’d like to clear some misunderstandings. Many believe that mining is about purchasing mining rigs, shipping them home and configuring with high expertise. To those who are not familiar with technology, they just like outsiders. Eventually, they’d give up.
This is the most common misunderstanding about mining.
It’s true that mining is becoming professional. Good news is, mining services too. You can just choose how you want to mine and leave it to a team that can help you with the technical problems.
By the way, people usually don’t mine at home, it’s because electricity fee of residents could cost you a lot. Furthermore, you have to keep watching it since the rigs could malfunction at any point. When they’re running, it’d really noisy. Just imagine how does it sound that each miner runs with 80 decibels? If you’re fine with one miner, how about dozens of them?
I shouldn’t be beating around the bush. Two ways you can start:
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Cloud mining
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Hosting service
Cloud mining is the simplest way to get started. When you choose a cloud mining service provider, it means you’re confident with its performance and liability. Cloud mining service provider normally owns a large scale of hashrate and is able to retail it. As a user, you can decide how much hashrate and how long you’d like to mine. Like a 100T contract for 360 days. Just pay and wait for the earnings. Simple and easy.
In the meantime, there are a few things you have to make clear of.
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Is it really trustworthy? What’s its background? How well do you know it?
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The price of each T is definitely higher than mining rig’s. You don’t own a miner, you can’t benefit from the appreciation of mining rig.
In short, simple pattern and easy management of cloud mining have made cloud mining the best way for bitcoin mining novice. Not the only way, but not a bad way to start.
Another is purchasing mining rigs and have them hosted by a mining farm
Mining farm can provide you professional maintenance and low electricity fees. Owning a mining rig will make you feel more like being part of mining. The pro is you have more choices and can pay less.
Certainly, you have to fully prepare yourself. You have to purchase mining rigs, sign a mining farm, probably you have to deal with running condition all the time. It entails rich experience. That’s the con. You have to take some things into consideration too. Like, is the mining farm running the rigs as planned? Would the farm remove to another place and would that influence my miners very much? Maybe worse, you never know if there’s any chance that they might take your miners for their own use, under the excuse of maintenance or blackout. It could be really tricky.
Of course, you can take a trip to the farm regularly. Still, it costs you energy, traveling expense and time… It’s up to you.
The above two ways are mainly for mining novice. Probably not applicable for professional miners. When you have sufficient funds and rich experience in mining, you can skip this passage and just build a mining farm your own.
Okay, to summarize, 2 ways for you.
Cloud mining is the simplest but a bit more expensive.
Hosting mining rigs is rather economic and you can sell the miners at a higher price once possible. However you have to consider more things.
Submitted January 10, 2020 at 03:25PM by ViaBTC http://bit.ly/2FFlehK
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