I know huge capital is required to meet up huge financial expectations, what's the minimum volume of income one can use to start mining? In a situations where you trade with different strategies and still hits wrong targets, if you apply or use same trading knowledge for mining won't one still loss in mining too? Because I don't have enough money with me, so am trying to cut losses if mining too will not favor me I will decided to venture into mining too again.
Can I start mining with $300 and grow from there?
I think the first question you need to ask yourself is at what price you will pay for electricity when you start mining. Then you need to run some basic math to understand if it can be profitable or not. Actually, mining operations, big or smal are quite intensive and competition is always around the corner. Mining with profit is hard, requires some initial investment and requires loads of time, availability and anothet shit load of stuff, even in very small scale.
Even if you want to purchase a single miner, put it at your home, you need a spot where you have electricity, internet connectivity, where the miner can scream and nobody bothers or you have to account for soun isolation. A part from that you should also consider proper ventilation! Just to start!
It's also a miner risk to take like the cost of the equipment. Mining requires specialized hardware, ASICs ( Application Specific Integrated Circuits ) or GPUs , which can be expensive to purchase and maintain. You also have to problem energy cost, bitcoin mining requires a significant amount of electricity, which can be costly depending on where you live and the cost of electricity on your area.
Mining a bitcoin involves storing a large amount of cryptocurrency on your computer or in a wallet. This can be a security risk if proper security measure are not taken.