Crypto mining may be worth a revisit given the current high prices

Crypto mining may be worth a revisit given the current high prices

By Dennis76 | Looking after yourself | 10 Aug 2020


Crypto mining has become the domain of large companies, or those with specialised mining rigs as the difficulty to mine has risen substantially and the rewards for mining have also dropped at the same time.

However, given the recent and continued price rices in crypto, particularly Ethereum and Bitcoin, perhaps it is worth redoing the calculations and doing a little bit of mining with your existing computers, both desktops and laptops.

In just two weeks, the potential earnings from mining Bitcoin have gone up 30%. I have been using a range of small scale mining apps over the last couple of year and the last two weeks is the best it has been for some time.

However, you will still need to review your costs to see if it is worthwhile for you. Look at the following costs before deciding if it is right for you:

Electricity costs

CPU/GPU wear and tear

General computer wear and tear

How many hours per day that you can mine

If after looking at the costs, you believe it is worth giving it a shot, try these two platforms:

Cryptotab

Honey Miner

 

It may even be worth considering, if you think crypto prices will continue to rise, particularly over the long term. I personally think Bitcoin and Ethereum may have a correction in the coming months, but over the next few years, they will continue to rise in price and popularity.

 

 


Dennis76
Dennis76

Pretty new to crypto.


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