In what approximate time do you make a profit in cryptocurrency mining?

[Moni2402]

Possibly at some point you have heard of big cryptocurrency mining farms.
This makes many people think that mining is only for large companies and it is impossible to participate.
In part this is true; but not because it is impossible, but because the competition is so great that it is not profitable.
In my personal opinion, I believe that if it is possible to make good profits through this medium, you simply have to be consistent and make sure that you are mining on a reliable platform.
On the other hand, it is not something that you get results from immediately, it requires patience and it also has a lot to do with the capital you invest in it.

On the other hand, each of these coins has its own algorithms and mining costs. In many of them it is possible to participate only with a good graphics card, these work very well to solve mathematical calculations, or even with a traditional computer.
For example, Ethereum is considered the second most used cryptocurrency after Bitcoin, and it is possible to extract it from a graphics card and specific software. On the other hand we also have Monero, which became very popular because it was simply extracted through a script that runs in a browser; a quirk that many cybercriminals took advantage of with new techniques such as cryptojacking.

 

[Haypril]

Mining of Crypto currency has been in existence since time memorial, it started with bitcoin in its early stage and eventually it is now beyond mining because of it price. There are new digital currencies, some coins out there that can be mine. You just have to mine till it halved.

 

[Kabak95]

The Bitcoin reward that miners receive is an incentive that motivates people to assist in the primary purpose of mining: to legitimize and monitor Bitcoin transactions, ensuring their validity. Because these responsibilities are spread among many users all over the world.
Cryptocurrencies has a lot of opportunities like this and i hope such will exist in the future.

 

[Daykas]

The best time to make profit from crpyto currency mining is when you mine them at there early stage where they have not be reach a limit where there price is very high.
Take for examples those who mine nano coins when it was #100 have a higher profit now that it #2,000.
Mining of this expensive coins will only be a waste of time

 

[Adetayo100]

The best time to make a profit mining crypto currency is at the early stages of such currency because it hasn't increased in value yet, people who mined bitcoin at it early stage of release are now a millionaires and if you start mining bitcoin now, it is an effort in futility. There are some new coin been mined right now which i think will be worth the efforts.

 

[Victor001]

I always laugh when I remember crypto mining, initially when I started crypto I always look for the shortest cut to go about it without investing, I tried mining monero through phone and my phone almost explode because of the energy it needs, I used laptop and I could only generate 0.02 monero too bad because the cost of data and electricity is not child's play. But I know people who use good gpu for mining and they are comfortable.

 

[Tinaconcept]

Since I joined cryptocurrency I have heard so much about bitcoin mining but my problem uptil now is that I haven't understood how it works no matter how I do my research about the mining of bitcoin but am not giving up I believe that I will still learn how to mine bitcoin or other coins

 

[Samuel72]

According to my own point of view as a well experienced businessman I have been investing in Bitcoin for the past two years and all my investigation I believe Bitcoin mining is a form of scam, some might be real at first but at the end they will refuse to pay others, they only use the strategy to drive more traffic to their sites. there is no such thing as Bitcoin mining it is all about dragging the attention of people to their site