The concept of mining appeared simultaneously with the emergence of cryptocurrencies. It is the process of creating a new coin of a cryptocurrency. The advantage of this process is that it’s a way for you to get bitcoins without paying for them, and that literally everyone can do this. Your own hardware is basically all you need. Moreover, you can create new coins using your browser as well. In this article, we will consider the feasibility of investing in your own equipment for the production of cryptocurrencies.

The more a specific cryptocurrency is mined, the more difficult it becomes to mine. This is inherent in the crypto algorithm, and it is impossible to get around it. Therefore, equipment power requirements are growing rapidly. At the moment, using a computer video card, it makes sense to mine only new cryptocurrencies with low complexity of the algorithm. Bitcoin, Litecoin are already being produced only with the help of ASICs.

However, these requirements are not so strict if you want to start trading. Today it is not a question where to buy tether, bitcoin, and other cryptocurrencies – The Jing Stock is where you have to go. This legal and safe platform is the fastest way for you to start trading.

Talking about mining, you need to choose the right equipment. This choice depends on what kind of cryptocurrency to mine. At the moment, there are only 3 options:

• a computer with a very powerful video card;

• video card farms;

• ASIC – a device that contains a set of specialized microcircuits suitable exclusively for mining.

Let’s consider the option of a video card farm. This is a popular option for mining altcoins. A standard farm is a block of several video cards. But video cards by themselves do not work, so the farm still needs a motherboard, processor, RAM, hard drive, and power supply.

The optimal number of video cards for one farm is 4 pcs. This is due to the choice of the motherboard. Motherboards for 4 slots are popular and reliable. The more slots a motherboard has for video cards, the more frequent glitches and breakdowns, which means equipment downtime.

Processor power does not play a role in mining, so a simple 2-core will suffice. The minimum requirements for RAM are 4 GB. A hard drive is better to choose an SSD with a volume of 50 – 60 GB.

The farm consumes a lot of energy; therefore, it is important to choose the right power supply for stable operation and safety of the equipment. For 4 video cards, a 1000-watt unit is required.

Required power of equipment for mining

There is only one answer: the more power, the better. More powerful equipment will last longer. Although it will be more expensive, its profitability is higher than those of the cheaper options.

The main indicator of video cards is computing power (hash rate). In addition, it is worth paying attention to such parameters as energy consumption and price. In the wake of the huge interest in cryptocurrency mining, prices for the same equipment differ significantly from different sellers.

Of the video cards, it is already worth considering the Nvidia GeForce GTX 1080 Ti option with a price of $700.

If you are going to mine Bitcoin and Litecoin, then we will focus on the following ASIC models:

• S9 Antminer, hashtrate 14 TH/s, price $ 1140 for bitcoin

• L3 + Antminer, hashtrate 504 MH/s, price $ 1640 for Litecoin

Remember that mining hardware quickly becomes obsolete. In the best case, its use will be profitable for no more than 1 year. Much depends on the type of cryptocurrency you are mining and on the growth rate of the mining complexity of this cryptocurrency.

There is often a question about whether it is possible to mine with a simple computer or laptop with a conventional video card and processor. In theory, the answer is yes, you can. But in practice, even when mining a new cryptocurrency with little difficulty, the benefit will be minimal, if any. Chances are, you’re just wasting time and effort.

To sum up

Mining is one of the best ways to make money off cryptocurrency. But if it’s not for you, check out The Jing Stock for crypto trading.