Quote from: befxtrader on September 18, 2019, 07:08:45 AM

Hey guys i'm wondering if it pays off to mine cryptocurrencies nowadays. And if it does how much time does it take to pay off equipment and electricity.
Isn't it simpler if you trade cryptocurrencies instead of mining them?

Trade is different. There are investment for a long time, when in fact you need an entry and exit point and short-term trading (for example, intraday). The second for me is much more complicated than mining. The first sometimes too).

Further, there are two types of mining.
1. You are looking for the best offer in terms of current profit on your hardware and your environmental costs (maintenance, electricity). There are mining profitability calculators (without maintenance) for this.
But it's better if you yourself learn to calculate profit. In that case you can look for other coins that not listed on profitability sites. But in this case you yourself need to perform a large amount of work on the search and analysis.
Everything that you get as a result of mining you sell.
You can withdraw everything to fiat and spend it on yourself or expand the business, or you can leave a part and invest in promising coins (the bitcoin for example).
So, the main thing here is the current profit. And you should select coins for mining based on this.
2. You are looking for promising coins that are more profitable to mine than to buy. Mine, hodl, wait for the price increase, sell. That is, mining as investment. But here you need to process a very large amount of information, understand projects, and believe in the market growth.The risks are pretty big to get nothing.
Another bonus is that sometimes at the start mining software is not effective and you can create (or hire a programmer / buy) a more efficient software.