BASICS OF MINING :
It's a process in which you lend your computer's or graphics card's calculating power to solve complex problems or easy one (depends on the coin) and validating a transaction, then you will be rewarded for it depending on your hashrate (computational power per second used when mining) .
Hashrate:
Its the rate of solving problems as we discussed above. It's determined by your GPU or ASIC miners. Higher the number, greater the earning, greater the power consumption.
Graphics Cards:
There are mainly two graphic card companies out there; AMD and Nivida. People usually use Nivida graphics card as they are reliable and have a large community.Most commonly used are 3000 series and 1600 series. They offer a decent hashrate and less power consumption than ASIC miners. I personally mined on laptop with a 1650ti graphics card which gave me 1.5$ everyday (power consumption may be 0.25$).
How to mine:
* First of all set up your mining rig. There are plenty of tutorials on YouTube u can look out.
* I personally used unmineable and 2 miners as pools as they are reliable. Minimum payout differs from website to website. Usually they don't charge any fees while withdrawal.
* Cross check your wallet address. Even a small mistake and you recieve no coins.
* Check with your authorities if mining crypto is legal or not.
Hacks to mine (choosing a coin) :
* Mine a coin with good fundamentals.
* I don't recommend bitcoin as it's not profitable if you have less hashrate.
* Mine a coin which you think will go up in price.
* I mined Shiba inu during May till September. Then price really pumped up. I sold em and bought some coins like Polkadot, MANA, CHR.(not a financial advice).
Outro:
Mining is an easy way to earn crypto if you have the nesssary resources. I couldn't explain more clearly as I'm posting from a mobile for the time. Feel free to ask any questions in the comments. Have a great day!
