Post
Topic
Board Altcoin Discussion
Re: Is It Still Profitable To Mine Cryptos In 2021
by
Silberman
on 13/02/2021, 18:44:59 UTC
I have always been interested in mining cryptocurrency in a very long time and my biggest obstacle has always been the financial resources to purchase mining rigs and electricity required however remaining crypto-currencies became almost impossible for me because of the high cost involved and very low profit margin so I am pumped to ask that with the recent pumps in crypto prices and everything going to the moon is it profitable to mine Bitcoin in 2021 or any other altcoins please let me know.
You are very late, one strategy that miners like to use is to dedicate some of their hash rate to mine coins that are not really well-known when the market is very stable, that way when the market begins to skyrocket they obtain very good profits, and while I think that there is still a lot of room for the market to keep growing up you are starting from a very high point in terms of price for most coins so I don't think that strategy is available to you and most likely you will lose money because you don't have experience with mining.