It doesn’t take a crypto specialist to know that the most popular crypto currency option available is Bitcoin. Bitcoins are credits which are available online and work in the same way physical money does. The only way to attain them is by purchasing them with real money, receiving payment for goods or services with bitcoin or by creating them. Due to Bitcoin’s popularity they’re very costly to come by, making them a highly coveted ‘digital’ commodity.
While discovering one bitcoin blockchain may take around 10- 15 minutes, the likelihood of successfully mining bitcoin will depend on how many others have discovered the same block chain and are attempting to mine there too. Depending on whether you’re doing it alone or choose to partner with your fellow miners it could take months to mine one full bitcoin, at today’s prices. However with the right mining equipment and participating in strategic pools, you’ll be able to make around $13 a day based on today’s rates.
Depending on the type of machine you’re after, a mining machine that is specifically modelled to mine for Bitcoin can fetch around $4,000 and above if newly purchased. However, a machine may be significantly cheaper if purchased second hand.
While Bitcoin seems to be the most popular of crypto currency available it may be beneficial to attempt mining other currencies that may be available such as Ethereum, Ripple, Stellar or even NEO. There may be avenues for better returns with lesser known currencies however you’ll need to do your research in order to pursue these avenues effectively .
However, if you have your heart set on Bitcoin, and can invest the time and money into effective Bitcoin mining hardware, it may be worth your while to continue down this same path in 2021.
In order to start mining for Bitcoin in an effective way, you’ll need the right Bitcoin mining rig. Mining Store has a wide variety of Bitcoin mining rigs on sale that will help you in your pursuit of all things Bitcoin. Speak to our specialists about your chief financial ambitions and we’ll be able to partner you with the perfect miner to get the job done.
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