Post
Topic
Board Mining (Altcoins)
Re: Advice to new crypto miners
by
dimonstration
on 26/01/2022, 13:57:59 UTC
Are you new to crypto mining? Well here is a advice for you, If you can afford to cover the electricity bill and keep on mining at a loss ( in USD rate ) hodl the coin untill value goes up it will be worth it and you will recover electric cost and more but if you can't afford electricity bill switch of the rig untill there is a coin to mine that is profitible, don't go and sell your rig because mining isn't profitable anymore unless your electricity bill is very high. The best time to mine coins is when profit is down in USD value, less profitseans more quantities of coins due to less difficulty, be smart

Why not directly buy the coins you are mining using the money use for purchasing the mining rig if your strategy is just to wait the value of coin to rise while mining it on a slow phase. It will be economical and less hassle if you will just purchase tokens if you can mine a tokens in profitable way. Holding the tokens that you mine while you are consistently paying for electricity bill will just gonna make a miner completely wasted once the price go to the wrong direction.