A while ago here in my country, many people made a lot of money mining some cryptocurrencies. Is it still worth mining any altcoins nowadays? If so, which one would you recommend and why?
Is it still worth mining any crypto?
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eLdavis
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I doubt this, the last I heard, what you gain from mining crypto is worth it. You would end up spending more than what you would earn.
Even though the level of competition for crypto mining is high, if electricity costs in your country are cheap then crypto mining is still very profitable, you need to have hardware and software, or better yet, join a mining pool.
From the news I see in my country, it is not worth mining cryptocurrencies due to the difficulty and the cost of energy, which is very expensive.
it wasn't worth it for me. I tried it though with my phone and it makes my phone to malfunction so I left it.
If you are livingin a country with chip electric bill then you can get some profit from mining crypto, but you also have to know that mining is not all about electric bill there are a lots of costs you need to consider before mining any coin.
The mining of the crypto currency is deemed as the great unique way for acquiring of the crypto currency. However l have never encountered a legit way of mining the same on the web.
Mining bitcoin now is not profitable as before. Though there a lot of other new cryptocurrency that people arr mining. These new cryptocurrency may later boom or collapse. Everything depends on luck and patience.
I think that even if the profits are much smaller, it is still better than just keeping funds in the bank or elsewhere. And the profit is even much higher than in staking, so I think that it will be relevant for me for a few more years
Yes it is if you have some equipment already. You can start now and prepare yourself for next bull. If you have free current, even better.
