Hey, total newbie here looking to break into collecting coins lol
What is the most effective way to start?
How much would it cost to build a setup to mine verses just investing?
Mining is also an investment, so it just depends on you and how well you are willing to go about any type of investment you wish to do. So many people believe in just buying and holding for long looking forward to the increase in value. However, with mining and a solid set up most especially in a place with lower electricity fee, mining can be profitable.
Once you can have your return on investment back, the rest is just free coins every now and then until you decide you want no more. Mining comes with its own cons too so do not think it is just that easy.
Exactly there are so many advantages attached with disadvantages that comes in a pair when you talk about mining. Mining is really interesting and profitable but it just need to be started in an area where electricity cost is low. You only have on additional investment of electricity and if you find so low, believe me there would be so much better results, even more than trading.