Earn Money From Bitcoin Mining 2019
As we may have known, bitcoin had a major set back in 2018. According FinExpertiza, Bitcoin was the least profitable business as of 2018. I know a lot of friends who invested on bitcoin in 2018 thinking they would smile at the end, but it wasn’t as they thought. But do you know bitcoin was over $19,000 before it fell to $3,524.60?. And check over the years, bitcoin always rise and fall, therefore, it is not a steady investment. On today’s discussion, I am going to guild you on how to earn money from Bitcoin mining
Not to spoil your mind, business doesn’t always go the way it is being planned. You may experience a backdrop in a particular business and then all of the sudden you experience a major gain. As you have known, investing your money on any business is investing your money on any business is a risk. It is not a win win win project, sometimes you experience some shortcomings and you take it like that because it is business.
Apart from bitcoin I’ve seen people invested in many other profitable businesses but it did not turn out to be what they had expected.
Should I invest on bitcoin 2019?
Well this is not a kind of business I would make decisions for you, it is a matter of choice. But you should not use a single mistake to judge how the rest of the business will look like. Remember I said earlier that bitcoin had reached over $19000 so we are not certain of the amount it is going to clock in 2019. But you see, we are just investors and we should be optimistic that it really brings smile to our faces.
Some years back my friends told me to join him in his bitcoin investment which I clearly declined. But something happened. Bitcoin during that year was in joy that it made some of them rich.
Though I was happy for them but I regretted never investing on bitcoin.
Overview Of Bitcoin Mining
Ways To Mine Bitcoins
- Buy a specialised hardware( Popularly know as a Bitcoin mining rig) or
- Connect with or join a bitcoin mining pool
Buy a Bitcoin hardware
To get started with this you need to buy a bitcoin hardware created to mine bitcoin. When you have purchased it and have done the necessary setups you let it run 24/7, solving Bitcoin transactions for you. This is to say apparently that the inflow of Bitcoin would be very steady without you getting involved or having to do much work
While setting up and using this bitcoin rig is fairly easy, sometimes making money can be very difficult because the more people keep mining Bitcoin it becomes hard to really earn much from it.
What you need at this point in time is a change. This is to say that, bitcoin hardware you bought last year might not be of standard the next year. What you need at this point in time is to change the previous Bitcoin hardware. So at this point in time you have to buy a another bitcoin hardware.
The price of bitcoin hardware is not cheap, its price ranges from $1000 and above. The higher the price the more transactions and cash you make.
So every year you have to change your bitcoin hardware to stand a chance to earn money from bitcoin mining
There are lots of people who are willing to spend huge in getting this bitcoin hardware mining, if you desire to level up with them, then you have to get new one every year.
Have you tried the first method which is by managing your own mining hardware and it seems difficult for you? then I guess cloud is the best option to go into.
Cloud mining companies invest massively on mining hardwares, after buying, they sell subscriptions to individuals who are interested in mining bitcoin. Your subscription to this cloud mining gives you the opportunity to earn little of what those mining rig makes.
While I tell you this simple and suitable method, I will also tell you to be careful because the biggest challenge of this cloud mining is fraud.
Some companies pretends to be very big and reliable. They even give massive subscriptions to individuals to draw other people into buying fron them, but at some point in time they just disappears.
Before you buy from any company, you should
- first of all research well to see a reputable company company that has lasted for several years
- Look for a company that has a good reputation.
Do away from companies with hidden domain registration (you can look up their registration info at Whois). Also, check the company’s “guarantees” profits or offers large bonus for referring new customers; anything above a 10% referral commission is highly suspicious, why? Because even big companies don’t generate such a high profit to give such a big bonus.
Note: bitcoin companies also cut some percentage from the money you have earned due to maintenance, electricity and also the cost of doing business with you.
But to be sincere with you bitcoin may or may not be one of the top leading investment that pays well due to its rigidness.
But the more and more people goes into bitcoin the more it becomes very difficult to earn from bitcoin in conclusion I will say bitcoin is a very risky business which you may gain massively or lose big time