I have recently had numerous calls regarding Cryptocurrency (cryptocoin) Mining. Not sure if it is related to the surge in popularity or the fear of not having a backup plan in case the banking system as we know it collapses. The theories are sometimes a little scary. You almost certainly have heard of Bitcoin, the first decentralized cryptocurrency that was released in 2009. Over 1000 similar digital currencies have crept into the worldwide market since then.
Digital Gold Rush
Today, there is a digital gold rush where people are looking to profit by investing a few hundred dollars in equipment or using their own PC’s and then spend months mining for digital coins before any return on their investment sets in. Does 15c a day profit before cost sound attractive? Not at all. Home mining is no longer an option! So how can you get onto the bandwagon and make at least a reasonable return on time and money you spend in chasing this “Cryptonite…”
As a second income, “cryptocoin” mining only becomes significant when someone is willing to invest in excess of US$3000 in up-front costs, at which time you could potentially earn US$30-US$40 per day or more.
If your objective is to create wealth, then you MAY be better off purchasing cryptocoins with cash instead of mining them, and then tucking them away in the hopes that they will jump in value like the price of gold or silver over time.
My Plan to jump on the band wagon!
My speculative initiative has lead me to invest in an alternative strategy using cloud mining.
The advantages are significant and include not having to have any hardware generating excessive heat and noise or high electricity costs to run the equipment with owning the hardware at home or in my office.
I have tried them all. You can compare them as well. Here are some names;
Hashflare – plans mainly cover a year mining so very little chance of a good return,
Minergate – just too expensive.
I am now only using genesis-mining.com.
My payback period is calculated at less than 6 months. So that is a good return in my books. This is based on current cryptocurrency prices. (prices can and will vary) If you are keen to join and mine “cryptonite” my discount code is ” H1kXbl ” and that will get you 3% discount off the purchase price of any mining contract. NB you can use this cade as many times as you like to get the discount. Also if you like what I told you, give your discount code to your friends or give them mine to get the same discount. This is a winwin situation, you get 3% discount and I get increased hashpower on my existing rig when you use this discount code. genesis-mining.com. NB on Promo code enter H1kXbl to get discount and click apply.
US$3000 and beyond
Realistically, you need to spend about US$3000 upfront on the rig to get a decent payout each day. If you need a reasonable income, an investment of US$30,000 in a mining contract can return about US$150 per day. The contract I use is “2 years Ether Mining” with no maintenance fees. If you use my discount code and email me with the Reference ID on your invoice, I will let you know the most profitable combination of coins for mining this rig. Just fill in the details on my “Contact us Page”
Please note that nothing is guaranteed in this game. If you do chose to start Crypto Mining, make sure that is is with money that you can spare and do not depend on it for your living expenses. I give this advise purely on my experience and you need to make your own decisions based on your own research. If this short article helps you in your search for an alternative income or protection of your assets, good luck!