Today, mining does not give up its positions and still remains a profitable occupation, although there are more and more miners every day. If you have a large budget, it is more optimal to invest in a mining farm. With a small investment, it is better to choose cloud mining.

All the resources used and the efforts of the miner also play an important role here. Usually, the average miner with one video card has a net profit of about $1 per day. If you put in more effort, the profit can rise to $ 3-4 per day.

By and large, it depends on the method, form of mining, the power of the equipment used, its technical condition and other factors. But if we talk about average terms, then with the maximum effort of the miner, this can be done in nine months, otherwise you can count on success in 11 months, at most a year.

When a user has mined a certain amount of bitcoin or ethereum, the question arises of how to get the money earned. There are several exchanges for this.

Reliability is the main quality when it comes to withdrawing cryptocurrency. You can also transfer it to specialized wallets, but the exchange is one of the most successful options. Because an instant transfer to fiat money (dollars, euros, rubles, etc.) and withdrawal to a bank card are available here. Many people prefer not to withdraw the earned cryptocurrency, but to put it up for sale and make more money on this. Wallets, in turn, will deduct the transfer commission from the user and will not offer anything in return. Having weighed all the pros and cons, we can recommend a large reliable exchange Binance. Today, this is one of the best ways to withdraw cryptocurrency.

Anyone who decides to start mining should be prepared for the fact that, as in any business, there are pros and cons. Novice miners often ignore these circumstances and pay no attention to the risks.

Consider the pros of mining cryptocurrencies:

• passive income with little or no participation;

• the possibility of earning money without large investments;

• high probability of a sharp rise in the rate of cryptocurrencies;

• the ability to calculate potential profit;

• simple withdrawal of earned.

Let's analyze the disadvantages and risks that can negatively affect the profitability of the miner. It will not be possible to make such an income absolutely predictable, but it is still possible to foresee a greater number of failures and reduce losses.

To earn money on your farm, you will need a lot of electricity.

Even the most powerful computer will work with increased load, so you should be prepared for breakdowns or equipment failure.

Since every day there are more and more miners, this process becomes more complicated every year, and the equipment becomes more expensive.

The most profitable mining methods - farms - require a very large investment.

The value of coins is not fixed, they can fall in value strongly and unpredictably.

Another very important fact is that in the cryptosphere there is such a thing as a «whale». It can be one person or a group of people who have a very large amount of a certain cryptocurrency. And if this «whale» decides to enter the market with the aim of selling cryptocurrency, the rate may collapse.

Also, the rate of cryptocurrency can be influenced by the state and authorities, which can introduce legislative restrictions or prohibitions.

The difficulty of mining cryptocurrency increases every day, and the reward for the found block decreases;

In general, this type of earnings can be influenced by a large number of factors.

There are many sites where you can get cryptocurrency for elementary actions without investment. They are called cranes. Of course, it will not work to make a lot of money in this way, but a low, but regular income can still be received. One such project that a beginner might consider is CryptoBrowser. This is the world's first mining browser based on Chrome. You just use the Internet, and the built-in mining algorithm works in the background. Earnings can be withdrawn or invested in new mining.

It is immediately worthwhile to understand that earnings directly depend on the power of the computer, so you should not save on hardware. Sometimes it is more convenient for miners to participate in certain pools, where the reward depends on the electricity spent. For beginner miners, there are two ways to start earning:

• solo mining;

• pool mining;

• cloud mining.

Let's consider each of these methods in more detail.

Solo mining

Solo mining is different in that the miner uses only his own hardware to solve computational problems. He does everything himself, but the disadvantage is that the blocks are disassembled by miners with more powerful computer hardware. Therefore, in order to work alone, you will have to acquire powerful equipment, and this requires funds. Otherwise, most of the time will be spent searching for blocks, which will entail downtime and losses. Therefore, it is more optimal to mine in a pool, because such situations do not arise here.

Pool mining

Pool mining is specially created groups where capacities are combined. Crypto enthusiasts gather here precisely to search for blocks. Thus, the miner has earnings corresponding to the spent power. This way of making money has a lot of advantages:

the most basic advantage is the minimum time spent, it is enough to set up the equipment, install the program correctly and the computer will earn on its own;

also, this method allows a large number of ways to withdraw cryptocurrencies.

To find the most popular pools, just look at BTC.com and Blockchain.com. Here you can get comprehensive information on any pool of interest. It is recommended to carefully analyze all the information in order to choose the best option for yourself.

Cloud mining

Cloud mining is perhaps the most successful option for most ordinary people. And the most profitable one. If we consider this option in general, then the user leases power from an Internet service that has all the necessary equipment in stock. Further, the miner uses passive income, but you will have to pay for the services of the Internet service, or rather, he will take his own interest for himself. In terms of investment, there are many advantages here:

there is no need to purchase special equipment, spend money on electricity and premises, and the user is free of problems with setting up this equipment;

for a tenant, this is a rather profitable way of investing funds, it is enough to draw up a contract and comply with all its points.

Services for making money on cloud mining:

• Binance.com

• Hashing24.com

• CryptoUniverse.io

• Okex.com

• Minergate.com

• Nicehash.com

• Genesis-Mining.ru
  

Mining on ASICs or ASICs (Application Specific Integrated Circuit) - specialized equipment for earning bitcoin, ether and other cryptocurrencies. This way of earning money is the most profitable today. Because the least amount of electricity is used, and it also allows you to earn bitcoins more efficiently. ASIС's price can be hundreds of thousands of rubles.

Specialized mining equipment has risen in price recently precisely because it is very effective. For example, the price of Whatsminer model M 21S with a maximum hash rate of 56 TH / s reaches more than a 4850$. So the profit can be about 627$ a month. And the cost of Antminer T19 with a maximum hash rate of 84 TH / s is already 11133$. And the profit in this case will be about 940$.

But it should be understood that ASIC mining also has disadvantages:

it often happens that the equipment is capable of mining only one cryptocurrency and there may be problems switching to another;

and many cryptocurrencies are not available at all to this equipment;

in case of a drop in the rate, the equipment will be very difficult to sell;

This is the advantage of GPUs, that they can mine countless cryptocurrencies, but on ASICs this process is more profitable.

Mining on a video card or GPU (Graphics Processing Unit). By the name itself, you can guess that it will not do without the use of a video card. This method is quite effective, since video cards are able to quickly and accurately solve assigned tasks. Probably, many are worried about the question, how much can you earn on a video card? For example, in 2018 the farm paid off in about 10 months. After that, you can count on a net profit. Of course, earnings will depend on many factors, but from $1 to $4 per day, it is provided. It is worth considering the cost of electricity.

Since mining on video cards has become very popular, they have significantly increased in price. Today, a good video card costs on average about 1310$, and even for that kind of money it is difficult to find it. Miners massively buy video cards for their companies, each of which usually consists of four video cards and a cooling system. Accordingly, more farms provide more income.