Topic: Investing into mining or trading ? - page 2. (Read 490 times)
I know mining isn't the same as it used to be, but when the suggestions are being said about that - is that more because of BTC? What about some of the lighter coins (no pun intended lol). Such as litecoin or other coins besides the big guys. Couldn't mining be profitable for some of the smaller guys? I too have been looking a little into mining vs. trading. I even setup a quick zcash miner just for the fun of it. I would have done it with bitcoin, but it was too much on my system. My system is not for mining - it was more just for fun. I would have made maybe 10 cents a week if I was lucky.
Mining any crypto with $500 is no more profitable than mining gold with a shovel. You are better off just buying.
If you already own a computer you can purchase a good GPU for under $500 and start mining with that. You won't make much money but you would probably make back the cost of the GPU (as well as paying for the electricity used) in 6-8 months.
After that it's pure profit. Granted making $30.00 a month isn't that much but you'll learn how to set up a miner, how to connect to a pool. You'll have fun, learn some things and make a few dollars.
Nowadays trading, cause you are able to do so even alone but if you want to mine in days which we have now you need some friends cause price which you got from it is very low.
Mining any crypto with $500 is no more profitable than mining gold with a shovel. You are better off just buying.
Keep in mind that mining is mindless, anyone can do it. However, trading requires skills, to be informed, and a small amount of luck. If you think that you lack the skills or you can't bother to be informed about the subject you want to invest in, then I suggest mining.
I take it that you already have an idea that investing in Bitcoin is a long term process. And I believe investing with a small amount for long period of time is a bad move. If you really wanna get involved with bitcoin then probably you should start with mining. Even it's a tough task, you can still have your PC, which mean you money isn't lost. But I must say, trading is also not a bad idea. If you think you can invest regularly then why not start trading now.
Mining is a tough game to get into, not only do you need the space (if you intend to mine BTC) but also need cheap power and at least 2k for a decent ASIC miner. If you are looking more into GPU mining rigs, even building one of these can run you a decent amount of money to make it worth it. If I were you I would learn from my mistakes. I got into Bitcoin in late 2012 and bought some coins, but decided I wanted to have some of them earn me more money (makes sense right?) long story short, I lost all the money I put into mining via cloud mining scams, ect, and I would have been way better off just buying and holding. $500 a few years ago would be worth 12k+ right now, so my advice to you would be to invest in a secure storage device like a hardware wallet, and buy BTC and sit on it. 2018 is expected to have a lot of forks that you can in turn sell for more BTC (sort of like a dividend). Best of luck.
Hi dear forum users
I wanted to invest in crypto 1-2 years ago but I didn't have money. And now I have like 300$-500$ and I want to invest it.
It's really small amount of money and I don't know to buy some bitcoin for longterm or to buy an ASIC or build a mining PC ?
Is there any point to invest only 500$ or the amount of money is too small and there is no reason for investing
I wanted to invest in crypto 1-2 years ago but I didn't have money. And now I have like 300$-500$ and I want to invest it.
It's really small amount of money and I don't know to buy some bitcoin for longterm or to buy an ASIC or build a mining PC ?
Is there any point to invest only 500$ or the amount of money is too small and there is no reason for investing
Jump to: