Earning bitcoins mining
As per the market conditions you may earn 8–10% (per month) of your investments.
But, I would not suggest you investing your hard earned money into bitcoin mining.
Instead, you can go for mining of alt-coins such as Litecoin, Dogecoin, Dashcoin etc.
Now, There must be a reason behind my suggestion. Right?
Below I'm outlining some of the reasons of why you should run for altcoin mining instead of bitcoin mining.
REASON 1 - COMPETITION: As the no. of bitcoins in a particular block that can be mined are fixed it is not most likely that you can reach to that particular block in less time than the people with bigger mining machines. And hence, you may require big investments to buy bigger mining engines and to start profiting with bitcoin mining.
REASON 2 - INVESTMENT: To start profiting with bitcoin mining you will need bigger investment along with a space to set up your mining engines and a permanent internet connection. Also, these engines burn a lot of electricity, So get ready to pay heavy electricity bills.
REASON 3 - MARKET PRICE: The people who invested in bitcoin mining in the starting era of the bitcoin are in profit because there was less or no mining competition at that time. But now, there is competition as well as instability in bitcoin market.
In layman terms, one can say, Bitcoin mining is profitable for now, as bitcoin prices are at peaks. But, nobody can say for how long!
Also, I would strongly recommend cloud mining instead of mining through your own server setup.
My recommendation is to mine litecoin instead of bitcoin because
1: Less Competition
2: High Frequency of blocks
3: Price Stability
4: Low Investment
Through litecoin mining, you can get a handsome return of 8-10% per month of your investment (if you invest 1 lac INR as total you can get 8000-10000 (maybe more depends upon the price of litecoin) as return per month), you may get these returns for the end of the time (probably yes!) as per current conditions of the market.
Easiest and most covenient way to start earning through mining is cloud mining services such as they provide you lifetime mining contract for just a fraction of the investment.
is free, reliable, convenient and most of all profitable.
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Please comment if you have any more questions or if it helped you getting your answers.
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