Can one depend on mining of crypto as a source of income?

[Mandy96]

Mining of crypto is being done by some new sites nowadays in which they will make it for you inform of a click to pay task, once you click on one ads, you will earn a little amount of Bitcoin which is also called satoshi. This is not encouraging if you ask me because the income they will allow you to make from them is too small to accumulate to a tangible amount in few times, this is one of the reason why I do not really like those survey jobs, some will even let you earn after doing the tasks for months, and when it is close to the time you want to cash out your earnings, then you will realize that the website will reveal its true color and then you will know that it is not what it seems to be, judging by that, they are supposed to pay you but they won’t and the sad part is that you can’t lodge complaints to anyone because it is strictly an online job with no one to hold responsible for the failure. Even if you eventually finds the one that truly pays, I will still advise you not to rely on it because the income is not enough to such extent.

 

[Laurasulivan]

Of course you can depend on it
It's very well.

 

[Jasz]

This is the fact , the time and data you waste doing this surveys or mining cannot be overemphasized . Those you will benefit much , you have to pay ,and what if you pay and the site decides not to keep to their ends ?. Well this can't be the best way of earning to me.

 

[moonchild]

I've been involved in these kind of websites in the past but I don't think I can involve myself in those type of tasks ever again, they'll just waste your time and you can't recover it, most of this platforms are just created to get people's personal information that they'll use for their next marketing or their next products, so people are better off staying away from those type of site.

It's really crazy if you analyze this whole crypto thing, no regulation or anything else, people just do what they want and no one is sanctioning them, let's see how long this will last, it's really annoying

 

[Sotherefore]

I've been involved in these kind of websites in the past but I don't think I can involve myself in those type of tasks ever again, they'll just waste your time and you can't recover it, most of this platforms are just created to get people's personal information that they'll use for their next marketing or their next products, so people are better off staying away from those type of site.

It's really crazy if you analyze this whole crypto thing, no regulation or anything else, people just do what they want and no one is sanctioning them, let's see how long this will last, it's really annoying

Some people don't really understand what mining of cryptocurrency is all about , maybe because they do not have an opportunity to engage themselves in any mining website ,but for me from all the experience I had i know it will not be profitable in anyway ,the only thing you will encounter in mining of cryptocurrency is just to waste your time and data without achieving anything tangible .a lot of people that have idea of this will never like to engage in it but people who are just inexperience about mining might consider that it is a profitable online opportunity they can venture into.

 

[eldavis]

Back then it would have been a good way to make money, but right now I don't think depending on just mining crypto would take you far, cause it's pretty much expensive to mine these days, not to mention the equipment needed to mine.

 

[kayode10]

I cannot advise anyone to depend on cryptocurrency mining as a Main source of income online.

The reason is that there are some times that you won't be unable to mine cryptocurrency no matter what you do.

When this happens, it means you are not going earn income as a result. Beside that it can take a lot of resources to make money mining cryptocurrency.

One thing I can say is that you can include mining cryptocurrency as one of your multiple streams of income.

You can engage in some order money making model online in order to create multiple streams of income for yourself.

 

[Mika]

Well, theoretically speaking, you can make crypto mining as your primary income source. But practically speaking, you cannot. For of all if you choose free mining programs, your earning will be so low that you can't even earn $20 by mining for the entire month. If you choose cloud mining and buy hash rate, you will have to pay a lot of money for the hash rate to mine, when you calculate net income, it will not be much. The only way to mine a lot of cryptos is through your own mining rig, but you will have to spend thousands of dollars.

 

[Sherman198]

People make money through crypto mining but it depends solely on the nature of mining you choose, that will be the determinant of how much you can make per month. If you do cloud mining, I don't see any profit in that....You might even be scammed,if care is not taken. The only mining I can recommend to be profitable, is mining through Mining rigs or Asic miners machines, and this practically consume electricity. However, these machines are expensive to get and they will eat your power supply, which would incurred charges for you, leaving you profitless if the electricity tariff of your country is high.

 

[kayode10]

it is very important to have other source of income rather than relying on cryptocurrency mining as a way of making money.

There are so many benefits you are going to derive from having multiple streams of income. First you always have money in your bank account consistently irrespective of the business.

If one of the business is not bringing in profit you will have orders to pay for the compensation.

Multiple streams of income gives you the ability to have head over inflation rate which is happening in the country. .

Multiple streams of income you give you chance to start another business without scrambling for the capital.