3 common risks that Litecoin (LTC) miners should know

By Lềm Thị Phiến | An an | 6 Jun 2020

The following is a list of some risks you may face as a miner:

1. Increased difficulty: As more miners participate in LTC mining, the difficulty will increase accordingly. This reduces your profits. Therefore, you need to make a realistic estimate of the degree of difficulty that will increase in the near future.

2. Resell at low prices: To get good productivity, you have to dig with ASIC hardware. However, since this hardware can only be used for mining and is not retrofitted for other purposes, the resale value is quite low.

3. Consume a lot of power: Digging a coin is a process that consumes a lot of power. Therefore, cheap electricity is a very important part of the calculation of profits.

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