Is mining profitable? Cryptocurrency mining farm - what is it in simple words? How much can you earn with a farm, profitability calculator. Overview of young and promising cryptocurrencies

People in the post-Soviet space have too vivid memories of MMM and the famous Lena Golubkov, so cryptocurrency for a larger percentage of the population is a soap bubble that is about to burst. Where more optimistic in this regard are the populations of African countries (Zimbabwe, Kenya), Singapore, South Korea, Japan, Israel and the United States. These states are experiencing a real boom and cryptomania, not afraid to invest digital money in “farms”. In America, a sociological survey was even conducted among 1,000 people aged 26 to 40. It turned out that 11.5% of respondents are going to invest in mining in 2018, and 21% are holders of part of the funds in cryptocurrency. Why is it profitable for the population of these countries to invest in mining equipment?

Investing in a "farm" for Bitcoin mining

On December 10, 2017, the Chicago exchange, which is the second in the exchange market in terms of daily turnover of funds, begins trading in Bitcoin futures. This news affected the cryptocurrency market and raised the cost per BTC by almost 20% in a week. Following her, the Tokyo Stock Exchange announced its desire to launch its futures product on Bitcoin, and the Swiss exchange magnate had previously announced the same intentions. Based on the above, a picture emerges that BTC has entered the cryptocurrency market for a long time. Which is a positive signal and answer to the question about investing in a mining farm based on miners.

Add a fly in the ointment to a barrel of honey, the price of BTC mining devices and payback periods. Profitability is affected by the complexity of Bitcoin mining, which depends on the number of network users, and it grows exponentially. But do not forget about the increase in the price of BTC, which has reached 1100% since the beginning of 2017.

Now for BTC mining, Antminer S9 and S7 miners with different hash rates are mainly used. On average, they bring about $ 20 per day, the payback period is 6-7 months. For long-term investment, this period is short, usually during business development, payback starts from 1-5 years.

Dash mining farm investment in 2018

The advantage of the Dash network is the constant work of developers on it. Relatively recently, an update was launched that increased the block to 2 MB, and became seven times faster, in addition, transaction prices were reduced. This suggests that the cryptocurrency will develop and this is confirmed by a slow but steady increase in the price of Dash. The disadvantage of a cryptocoin is that it is unstable, the cost jumps, after which a correction occurs, rolling back the price by 15-18%. Dash profit on ASICs is around $16, but the numbers may change if the Dash network makes a new qualitative leap.

Investments in a farm on video cards in 2018

Cloud mining on video cards is back in trend due to the growth of major currencies in the ratio of equipment price and profit. For example, ETC grew by 4000% in 2017 and continues to grow. The reason for this is the support of the Ethereum platform by large companies. Other Altcoins are also showing good growth, so investing in a mining “farm” on video cards in 2018 will also be profitable, as long as there are no trends to the contrary.

Asking a question about the return on investment in mining in 2018, you still will not hear a clear answer and will not receive 100% guarantees. In many countries, the process of legalizing cryptocurrencies as securities has begun, so digital money, like any product on the exchanges, can go through the processes of price collapse and rise.

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The crypto-currency fever has long since subsided, the Bitcoin exchange rate has been at a level slightly above $6,000 for six months now, and other currencies follow suit. During these six months, ASICs entered the market for mining cryptocurrencies, previously mined only with the help of central and graphic processors. But is it profitable to do it now?

On the one hand, the lack of hype is accompanied by a lower rate of increase in complexity, which means that the current level of profitability of equipment will last longer. But on the other hand, the prices of coins do not grow, and without this, mining often becomes unprofitable, reaching self-sufficiency occurs later.

Let's see if mining is profitable at the end of 2018 by analyzing the profitability indicators calculated by the Crytocompare service. Calculations were made taking into account the price of electricity at the level of 12 cents per kWh. The average for Russia is lower, so the figures may be more optimistic, but in general they "do not change the weather."

Is mining on video cards profitable in 2018

The first device in the hardware payback rating built on the basis of the GPU was a farm based on 6 AMD Radeon RX 570 video cards, designed to mine Monero. Its estimated cost is $2263, the performance is 5000 decisions per second, and the consumption is 650 watts.

Calculations show that while maintaining the current level of profitability and the Monero rate, the annual income will be slightly less than $250. The estimated payback period is 3303 days or as much as 9 years! It immediately becomes clear that XMR mining on video cards is already dead.

Things are even worse with mining on video cards of the Ethereum cryptocurrency. A 6-GPU AMD Radeon RX 470 or RX 570 farm costs around $2200 and delivers 170 MH/s. This is enough to earn only $134 in a year. Such an installation, under current circumstances, will become profitable in 5954 days, which is more than 16 years.

If we take only the once very profitable, and therefore scarce AMD Radeon RX 580, and calculate its profitability in Ethereum mining, the numbers will be quite sad. The video card, costing about $440, now develops about 24 MH / s. However, its consumption, which is more than 130 W, does not allow it to go to zero, bringing a small loss.

Even with access to free electricity, you can earn less than $130 over the years. This means that it will be possible to reach payback in 4 years, which is not serious at all. It’s time for miners to slowly forget about the possibility of mining popular crypto on video cards, in 2018 this is no longer relevant.

Is it profitable to mine in 2018 using ASIC

An analysis of the situation on the ASIC market shows that they have a lot in common with video cards. The once popular and profitable models have lost their former attractiveness, becoming unprofitable. A year ago, Antminer D3, the first ASIC for Dash, promised super profits. Those who managed to purchase it in the first wave paid for the installation in just a couple of months.

Now this device, depreciated to $ 176, is suitable only for the role of a heater for the garage. Consuming about a kilowatt of energy, for a year of operation in 24/7 mode, it will gobble up electricity in the amount of more than $500 at a tariff of $0.12, or $325 at $0.09 (average Moscow tariff).

If the energy is free, then in this scenario, he will get 2.83 DASH or $439. But where to get free electricity, except for theft? So in practice, "no, son, it's fantastic."

Similar metamorphoses happened with the models Antminer S9, T9, L3, V9, AwalonMiner 741 and others. The once profitable, and therefore very popular devices, filled the market, caused a jump in the growth of complexity, thereby turning into a pumpkin. Even the Antminer E3, one of the first ASICs for Ethereum, released six months ago, has already “rolled down”. Priced at $1262, it puts out 190 MH/s while consuming 760 watts. The payback period is more than 2 thousand days, which is equivalent to 5.5 years.

The situation on the ASIC market for ZCash mining is more or less interesting. Having appeared this year, they still maintain decent returns. Models like Innosilicon A9 and Antminer Z9 show payback periods of just over 200 days or 6-8 months. This is not bad, about the same amount was promised by video cards a little over a year ago.

Bitcoin mining in 2018 makes little sense when using ASICs. The old models are no longer good enough due to the increase in complexity and the stagnation of the course, but there are no new generations yet, and whether they will be is unknown. The most profitable devices, like the Pangolin Whatsminer M10, promise to pay off in at least 3-4 years.

Is mining worth it in 2018?

Of the most popular cryptocurrencies, none of them promises super profits in 2018. Only Zcash offers potentially attractive payback rates on the actual equipment presented for sale. The rest are somewhat out of touch with reality, a lot of recently very popular equipment has become incapable of anything and unprofitable.

New cryptocurrencies remain attractive, which many have not heard of recently. Vertcoin, Verge and FeatherCoin look very attractive in theory so far. But this is only temporary, as it was with the same Antminer D3 last year. When new hardware gets into the hands of miners, payback periods will increase from a few days or weeks to much longer.

Based on the analysis of the equipment market and cryptocurrency prices, one conclusion can be drawn: mining in 2018, for the most part, is unprofitable. So far, it is not recommended to try to enter this sphere to the fullest by purchasing expensive equipment. You can try to mine something new, not very popular, using the available equipment that is suitable for this. But only an optimist can do this, hoping that in the near future the coin he has chosen will rise in price sharply.

For most users, mining in 2018, if not completely dead, is in an unconscious state and almost hopeless. There is no point in doing it for beginners yet.

Is mining profitable today, which cryptocurrencies to dig and how profitable is it? You will find the answer to these and many other questions in this article. In 2017, the increase in mining difficulty reduced the payback of cryptocurrency farms. At the same time, even the relevance of Bitcoin mining has not been lost in 2017.

There are several ways of mining, the most common of which is mining using crypto farms. The miner buys components, installs them in a special frame and connects them to the network - this is, in a nutshell. The digger can mine the most profitable tokens that have fallen in price and bring more profit. Cryptocurrency is transferred to the wallet.

Unlike classical mining, there is also the extraction of cryptocurrency from the cloud. Investors register on trusted cloud mining sites, buy contracts and withdraw earned tokens to wallets.

In principle, both methods of earning are effective, but which one is more profitable, how much money will have to be invested to make a profit in each of the methods? How much will it cost to build a crypto-farm on video cards, an ASIC-farm, and how much should I invest in cloud mining? Let's figure it out.

What is mining?

Mining is the process of mining cryptocurrency based on the computing power of video cards or ASIC controllers. This is an activity to maintain the efficiency of crypto platforms and create new blocks. Diggers are rewarded in the form of tokens and commissions in various coins, such as Bitcoin.

Is it profitable to mine cryptocurrency? Depends on what tokens you are mining. Good crypto-farms using powerful video cards pay off in 3-6 months, and systems based on weak cards - 1-2 years.

It is profitable to mine Bitcoin, but the complexity of mining is at a high level, so the payback of mining farms is about a year. The high price makes it much more difficult to make a profit, because in a month you can get much fewer coins than before, and further growth of the bitcoin is not guaranteed.

If the relevance of Bitcoin mining is in question, digging for cheap cryptocurrencies or those tokens that have fallen significantly in price is really profitable. Miners considering investing in cryptocurrency mining in early 2018 are actively mining Zcash. The extraction of this coin pays off in 2-4 months.

Is it profitable to mine cryptocurrency?

Cryptocurrency mining is profitable. The profitability of mining is 5-25% per month, depending on the token that is being mined. In 2012-2013, the most profitable solution for mining was the creation of a crypto-farm based on 8 video cards. Today, ASIC farms and server racks with powerful video cards installed are actively used.

When is the most profitable cryptocurrency mining? Monitor the level of profitability of token mining on specialized services. The most interesting coins today are Dash and Zcash. They are cheap and if these are the next “Bitcoins”, it makes sense to accumulate tokens and sell only on sharp price spikes.

In 2018, it is profitable to dig the following cryptocurrencies:

1. Bitcoin (created January 3, 2009).
2. (launched July 30, 2015).
3. Ripple (created in 2012).
4. Litecoin (created October 7, 2011).
5. Ethereum Classic (launched in 2016).
6. NEM (launched March 31, 2015).
7. Dash (created January 18, 2014).
8. IOTA (launched in 2015).
9. Monero (created April 18, 2014).
10. Stratis (launched June 20, 2016).

These tokens are leaders in terms of yield in US dollars per unit of time. All the cryptocurrencies presented above have good potential for growth, except for Bitcoin. It is most profitable to dig only those coins that have fallen significantly in price.

Let's say you have accumulated tokens, what's next? Now you need to catch the moment when the rate will be as high as possible. At the start of a sharp uptrend, hold tokens in your wallets and sell at the historical high update point or after a logarithmic rise in the price, as was the case with Bitcoin in 2017.

Of course, the extraction of Bitcoin and altcoins is expedient. Diggers are aware of the need to monitor mining difficulty and mining profitability, so they are able to mine the most profitable tokens. We will consider investments in mining farms, their profitability and features a little later.

cloud mining

Cloud mining is the purchase of the computing power of a company's mining farm. With the help of remote data centers, projects sell retail parts of the computing cloud, inside which cryptocurrency is mined.

When choosing a service for investing in cloud mining, start from the proposed projects on our website. These projects are reliable and pay out profits to investors on time. Choose 2-3 projects and evenly distribute tokens between them - don't put all your eggs in one basket.

How much money to invest? Depends on how powerful passive income you want to provide yourself. As a rule, to receive $1,000 per month, you need to invest $4,000 - $6,000. It is preferable to invest tokens rather than fiat to avoid fees.

The profitability of cloud mining is in the range of 10-25% per month. To increase profitability, investors invest more tokens in hashrate. Remember, funds must be distributed among several cloud mining services to ensure protection against hacker attacks.

The top cloud mining services presented on the site are reliable. Developers are constantly working to improve protection and provide the opportunity for large investments.

Cryptocurrency mining and cloud mining - comparison by money

The starting capital for creating a mining farm is in the range of $1,000 - $2,000. By investing more money in components and buying powerful graphics cards or ASICs, investors accelerate the payback of farms. To purchase contracts on cloud mining projects, you need to invest $500 - $800 for equivalent passive income.

• Profitability of classic mining: 2 - 20% per month.
• Cloud mining profitability: 10 - 25% per month.

Based on these yield values, you can set the payback time for investments:

• Mining farm payback: 5 – 50 months.
• Payback of contracts for cloud mining projects: 4 - 10 months.

How much can a budget investor make with $1,000? With this amount, classic mining will bring $240 - $2,400 per year, and cloud mining - $1,200 - $3,000 per year. Cloud mining has the advantage of profitability.

The cost of assembling a farm on video cards

Consider the cost of components required to build a crypto farm.

1. 4 video cards 1016 - 80 000 R
2. 2 pieces PSU Aerocool 700W - 6 600 R
3. Mother ASUS H81M-Plus - 3 500 R
4. Processor Intel Celeron G1840 - 3 200 R
5. Patrion 4 GB RAM bar - 2,000 R
6. 60 GB SSD drive - 2 600 R
7. Raiser with Avito - 600 R
8. Power supply synchronizer - 500 R
9. Homemade wooden case - 250 R
10. Cooler for the processor - 300 R.

The total cost of a budget mining farm turned out to be even more than $1,000. Configuration price - 99 250 R.

ASIC farm assembly cost

There is no need to assemble a farm, since the ASIC system is sold as a whole. Its principle of operation is to mine Bitcoin using special microprocessors.

Price forASICs and their profitability:

1. Bitminer AntMiner S9 – from $4,000. Profitability - 80 $ / day.
2. Baikal Giant X10 - $2,100. Profitability - 38 $ / day.
3. Bitmain AntMiner – $4,400 Profitability - 23 $ / day.

The payback of three ASICs is 50, 55 and 191 days, respectively.

Obviously, ASIC farms pay off on average 2 times faster than crypto farms on video cards. This is the main advantage of ASIC when mining Bitcoin cryptocurrency.

How much can you earn?

It's all about payback and investment. The more an investor invests, the more he earns. The potential for earning when mining on video cards is not bad - up to 20% per month, but cloud mining services allow you to earn even more - up to 25% over the same period.

Profitability of 1 random video card, taking into account the average cost of electricity:

ASIC farms pay off within 2 to 8 months. The mining profit with the help of ASICs is excellent, but there is also a minus of such systems - a high level of noise pollution.

An investment in cloud mining services pays off in 4-10 months, and then brings a net profit to its investor. Earned cryptocurrency is withdrawn automatically or semi-automatically to crypto wallets.

Cloud mining is much simpler, more reliable and more profitable, you don’t need to mess around with hardware, and investors who buy contracts get more profit than miners who mine cryptocurrency on classic mining farms.

In short, it all depends on how much you are willing to invest. Everyone will have different answers to these questions, as the profitability of bitcoin mining depends on many factors. Especially in order to make it more convenient for you to calculate the profit from mining by a combination of different factors, mining profitability calculators were invented.

They take into account several parameters at once, including the cost of electricity, equipment and other variables, which allows you to make the most accurate calculation of the expected profit. Before moving on to the examples, let's make sure you're familiar with these variables:

Hashrate (hashrate or processing power)– hashing is a mathematical problem that the miner’s computing system must solve. Modern Bitcoin miners (described in the video below) offer different amounts of computing power. Miner performance is measured in MH/s (megahash/sec), GH/s (gigahash/sec), TH/s (terahash/sec) and even PH/s (petahash/sec).

bitcoins per block (bitcoins per block) Every time a math problem is solved, a fixed amount of bitcoins is created. Initially, this number was 50, however, every 210,000 blocks this number is (approximately every 4 years).

The block reward is currently 12.5 BTC. The next halving to 6.25 BTC is expected in 2020.

Bitcoin Difficulty (Withmining falsity) Since the Bitcoin network is designed to generate a new fixed number of coins every 10 minutes, the complexity of the math problems is constantly growing as the network hashrate grows. In short, this means that the more miners join the network, the more difficult it becomes to mine bitcoins.

Electricity Rate (cost eelectricity) Almost all Bitcoin miners consume large amounts of electricity. To calculate the profitability of mining, you first need to find out the cost of electricity in your area.

power consumption (Energy consumption)– each miner (device) consumes different amounts of electricity. You will not be able to calculate the profit from mining until you know how much power your miner consumes. This information can be found both on the Internet and often on the case of the device itself. Power consumption is measured in watts.

Pool fees (pool fee)– in order to start mining, you will need to connect to one of the mining pools. A pool is a group of miners who have joined forces for more efficient mining.

The platform that allows you to do this is called a mining pool, and almost all platforms charge a fee for their services. As soon as the pool manages to mine bitcoins, the profit is distributed among all participants, taking into account how much computation each miner has performed (that is, based on the hashrates of the participants).

time frame (time frame)– when calculating the profitability of mining, you also need to determine the time frame. Since the more time you devote to mining, the more bitcoins you can get.

profitability decline per year (decrease in profitability during the year) This is probably the most important variable. The bottom line is that no one can predict the number of miners connecting to the network, and accordingly, no one will be able to analyze the complexity of mining for a month, six months or a year in advance.

This is one of the two main reasons why no one will ever be able to give a clear answer to the question “Is it profitable to mine bitcoins?”. The second reason is market quotes. So, when calculating the profitability of mining, the factor of decline in profitability per year will help you determine the approximate increase in difficulty.

conversion rate (quotes)– since no one knows what the BTC/USD exchange rate will be even in the near future, it is extremely difficult to accurately predict the profitability of bitcoin mining. If you plan to mine and save BTC, then this issue should not bother you. However, if you want to immediately exchange mined coins for fiat currencies, then, of course, this point must be taken into account.

Choosing a mining profitability calculator

In order to calculate all these parameters, and get the answer to the question from the title, we will use the mining profitability calculator. Here is a simple calculator example from 99Bitcoins:

However, let's jump right into a more complex example with more variables:

To date, one of the most advanced miners is Antminer S9. It is what is commonly called an ASIC mining rack (farm). Its computing power reaches 14 TH/s. Using a simple calculator (in the screenshot above), we can calculate that with today's mining difficulty, you can earn about 1 BTC per month.

But here, of course, the equipment costs, the cost of electricity, the pool commission and much more are not taken into account. Let's try to take into account all aspects.

This data is taken from an advanced mining calculator and used the following parameters: 2% pool fee, 25 BTC block reward ( ed. note: the calculation was made before the halving in July 2016), 14 TH/s computing power and 1375 watts of consumption.

That is, after 12 months, the profit should be $6,000. But even here we did not take into account the cost of the equipment, which means that the actual profit will be $3,400. In addition, the above calculations were made when the block reward was another 25 BTC, but now it dropped to 12.5 BTC.

The result may vary depending on the cost of electricity, the difficulty of mining, and more importantly, changes in the price of bitcoin.

In general, you can't get rich mining bitcoins at home unless you're going to buy a lot of equipment or have expensive electricity in your area. Below I offer you some examples of the most productive Bitcoin miners. In fact, there are not many options, since home mining is now an endangered art form.

Comparison of hardware for Bitcoin mining

AntMiner S7	AntMiner S9	Avalon6
Power: 4.73TH/s	Power: 13.5 Th/s	Power: 3.5TH/s
Energy efficiency: 0.25 Watt/J	Energy Efficiency: 0.098 Watt/J	Energy efficiency: 0.29 Watt/J
Weight: 4 kg	Weight: 4 kg	Weight: 4.1 kg
Price: $519 (6.02.2017)	Price: $2399 (6.02.2017)	Price: $559 (6.02.2017)
Approximate profit per month: 0.1645 BTC	Approximate profit per month: 0.3603 BTC	Approximate profit per month: 0.1232 BTC

I think it is not necessary to explain that mining at home is not a cheap hobby. However, you have other options for a lower price.

Bitcoin mining through cloud mining

In the mining industry, there is such a thing as “”. It means that you don't have to buy expensive hardware, but instead rent computing power from the company, paying only for the amount you need. At first, this sounds very attractive, since you do not have to order and wait for expensive equipment, place it somewhere, cool it, etc.

However, if you make even a superficial miscalculation, you can understand that none of the cloud mining services will be profitable in the long run. The most profitable companies often turn out to be banal pyramid schemes that do not even have any equipment, they simply pay out “profit” from the money they receive from new users.

If you still decide to invest in cloud mining, then I recommend you Genesis Mining - the only cloud mining company that has been operating for several years. But still, start with a small investment.

Altcoin mining as an alternative to Bitcoin

Consider mining (Altcoin) instead of Bitcoin. There are hundreds of alternative cryptocurrencies on the market today, and some of them are very easy to mine. The problem is that due to the huge number of different altcoins, it is extremely difficult to say which ones will be profitable. Litecoin, Dogecoin and Peercoin are considered good examples of altcoins.

To understand which of the alternatives can be profitable, look at the statistics on sites like CoinChoose , which analyzes each altcoin in detail. CoinChoose provides information on the difficulty of mining, how to exchange these currencies, as well as the likelihood of earning bitcoins through mining.

So will it be profitable to mine bitcoins?

Personally, I believe that long-term profit from bitcoin mining is possible only if you are willing to invest heavily in a good mining farm (for example, Antminer s9), or if you have the makings of a great trader.

What cryptocurrency is profitable to mine now? On the one hand, there is no clear answer to this question. But on the other hand, there are still undisputed leaders among mining enthusiasts.

It should be noted that it is difficult for novice miners who have just learned to determine which of them will bring profit, therefore, if a person does not have rich experience in working with digital currencies, it is better to focus on the most reliable and proven options described below.

What are the best cryptocurrencies to mine in 2018? Promising leaders today are the following altcoins:

• ZCash
• Monero
• Ethereum (Ethereum)
• Ethereum Classic (Ethereum classic)

This list can be replenished with other altcoins.

For example, in the past few months, the Cardano cryptocurrency has grown, providing mining on the principle of Proof-of-Stake. This means that not those miners who have higher powers, but those who have a large number of Cardano coins, have a much greater chance to receive a reward for a found block.

Vitalik Buterin, the creator of the Ethereum cryptocurrency, also plans to introduce this Proof-of-Stake principle, instead of the usual Proof-of-Work. When this will happen is not yet known. But investors who want to get into traditional mining are discouraged by this news from spending money on buying large Ethereum mining farms.

Monero and ZCash work on the basis of Proof-of-Work technology (those miners who have the most computational power have the greatest chances of receiving a block reward), so there are no prerequisites for a fall in the rate of these cryptocurrencies, which brings investors back to the question of expediency acquisition of equipment for mining.

How much can you earn on a mining farm?

GTX 1070 and GTX 1080, which currently cost around $600-900. The first (GTX 1070) on ZCash mining brings about $70-100 per month, the second (GTX 1080) - $90-130 at the current cryptocurrency rate. Therefore, the profitability of a crypto-farm (and, accordingly, earnings on mining) on ​​6 video cards will be approximately $400-600 per month in the first case, and about $500-800 in the second.

To assemble a simple mining farm on 6 video boards, except for the cost of the video cards themselves, you will have to spend about another $300-400. In the end, such a mining farm for earnings, most likely, will fully pay off in 7-9 months.

A farm on six video cards is cheaper (for example, GTX 1050 and GTX 1060 - cost about $200 and $300 respectively) on mining while extracting ZCash now brings about $250 per month. Its payback is approximately the same as in the previous version.

The profitability indicators of mining Ethereum, Monero and Ethereum Classic and others on these farms are similar and may differ slightly in one direction or another by a maximum of $25-30 per month, and most often by $5-20.

What must be taken into account when choosing a cryptocurrency for mining?

The fact is that depending on the equipment you have, the mining efficiency for different crypto coins will be completely different. Some video cards are much more efficient at mining Ethereum, others are more efficient at mining completely different coins.

If you mine not on video cards, but on specialized ASIC equipment, the picture changes again.

How to find the most profitable cryptocurrency for mining?

You can determine the most profitable coin for mining at the moment, which will be the most profitable for mining today, through special services. For example, the popular service Whattomine.com.

On this site or in the bot of the same name, in the telegram.org messenger (Whattomine) you can enter your equipment indicators, hashrates, etc. get a list of crypto coins that will bring the greatest income from mining. Thus, you can automatically compare in one place how much money the mining of each of your chosen coins would bring.

But keep in mind that the profitability of mining does not only consist of today's value of the mined coin. You can also lay down some investment strategy for yourself, realizing that a crypto coin can increase significantly in value over time. Mine and sell everything mined at once, as a rule, is not efficient and may not be profitable.

It may turn out to be much more profitable to mine a coin in which you now see the maximum prospect of growth in its value in the near future. Therefore, if you are wondering what is most profitable to mine at the moment in this particular minute, then the easiest way to determine this is through services like Whattomine.com and various mining earnings calculators, which are quite a lot on the Internet.

If you figure out what will bring the maximum profit in general, then you need to predict which of the crypto coins has the highest growth potential in the near future. And then, a good strategy might be: mine today what is most efficient to mine today, what will bring the most money today and convert profits into those coins, the maximum growth of which you expect in the near future or may be in the long term.

A combination of efficient mining and an efficient investment strategy can give you the best results. This is the task of correct investment, the task of a competent entrepreneur - to determine the risks and chances of today and predict what we can expect in the near future.

Of course, there are certain risks that, for example, the cost of the cryptocurrency chosen for mining will not increase. Thus, by applying together what works reliably and what can bring high income, but has a higher risk, you can find some kind of individual personal strategy for yourself.

What else should be considered when earning on mining?

There are several factors that affect earnings by mining cryptocurrencies. In addition to the correct choice of the cryptocurrency itself, which involves an adequate assessment of the mining algorithm and the requirements for the equipment used, several factors strongly influence the final earnings:

Cryptocurrency rate. The most popular cryptocurrencies for miners recently fell in price along with bitcoin, but they also began to grow with it. Most likely, we will observe a correlation with Bitcoin in the future, so now it makes sense to follow the forecasts regarding the rate of not only the cryptocurrencies chosen for mining, but also the forecasts for Bitcoin itself.

It is clear that it is also impossible to neglect information about the currencies chosen for mining, since various events can occur in them that significantly affect their rate, but are not directly related to the general dynamics of the cryptocurrency market as a whole.

Any events affect the cost of less popular digital currencies much more strongly, so their rate can change dramatically from any little thing: both internal and common to the entire cryptocurrency market.

Commissions of the mining pool itself. The calculation of earnings on mining was carried out taking into account the commission of the pool for mining - 2-2.5%. As a general rule, reliable pool fees rarely exceed these figures and are rarely lower.

Electricity cost. The above profitability was calculated for the CIS countries. Here it is worth considering that in Russia there are settlements and cities with a more expensive cost of electricity, in which the monthly income may be reduced by $ 50 because of this, and villages with cheaper electricity, where miners will be able to receive a little more profit every month. .

So that you, dear reader, avoid common mining mistakes and waste your money and time, we will answer common questions and give you some useful recommendations.

Is it worth it to mine Bitcoin on video cards?

Is it possible to mine Bitcoins on video cards? You can, but don't do it now. In fact, mining Bitcoin on video cards has now ceased to be efficient and cost-effective due to the very high complexity of these calculations.

Due to the low efficiency of bitcoin mining, you will not even be able to recoup your electricity costs, not to mention the costs of the equipment itself.

Now Bitcoin has split into two coins:

• The original Bitcoin, which can continue to be mined on specialized equipment (ASIC miners). The cost of consumed electricity should be taken into account here, since the ASIC can consume up to 2kW per hour. Multiply this figure by 24 hours and 30 days. We get 1440 kW. We multiply this by the cost of kW 5.38r (as of January 2018 in Moscow) and we get 7747 rubles per month. With the increase in electricity fees, earning on bitcoin mining is becoming less and less profitable.
• Bitcoin Gold, which showed promise for private miners, since by changing the algorithm, it could also be mined on a PC. But due to technical shortcomings, the hopes of the miners did not come true, and Bitcoin Gold mining, which seemed promising back in November 2017, is now unprofitable.

Which is better to mine: Asic or video card?

ASIC miners develop for one or another blockchain algorithm and decrypt it several times faster than conventional or even gaming video cards, since all their components are designed to work with this algorithm.

Due to this, the energy consumption during mining, spent on obtaining one cryptocoin, is greatly reduced. To get the performance of an ASIC miner on a regular farm of video cards, you will have to assemble a farm of several dozen video cards, so its power consumption will be tens of kilowatts.

With the same ASIC performance, the miner consumes only 1-1.5 kW. Professional ICs naturally consume more, but, in general, the ratio of performance and power consumption cannot be compared with the same characteristics of farms on video cards.

Conclusion: in most cases, ASIC miners are more profitable and cost-effective than farms on video cards.

Get a reliable wallet for storing cryptocurrencies

Since you are reading this article, you already know that it can be used not only to pay for purchases in online stores and all kinds of services online. Now many people are ready to purchase expensive equipment for mining, despite the inflated prices, investing quite a lot of money in anticipation of a big income with this help.

Here, as in any other business, you need to approach business wisely so that the money spent will pay off many times over and begin to bring significant profit to their owner.