Topic: Is It Still Profitable To Mine Cryptos In 2021 - page 3. (Read 704 times)
It depends, if you live on a country that requests for high electricity fee it's better to consider staking coins instead because ROI depends entirely on your electricity bills, the lowe your bills the more profitable for you, also mining rigs now costs a lot, gtx1660 used to be around 180$ now it costs 450$
Yes it's worth all efforts right now, with just one gpu you can make ROI back in 4 months, even now that gpu price have skyrocket you can still make your ROI back in 7 to 8 months but that's if crypto bull run lives that long
dude even a 280x/7950 from 9 years ago makes decent money, thats how crazy it is.
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Like a members already said here, there are some countries where mining are less expensive due to less expensive electricity or the government don't care much like it is in my country, though I've never mined before neither do I have or own any mining rig, I wil still advice that you be patient and wait for price to come down a bit before investing in mining rigs, to avoid unprecedented losses.
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. 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.
Yes, I think bitcoin mining is a profitable business these days but you should know that bad days will also come when there will be no profit and even loss especially during bearish market but at the moment as market is growing miners are making good money but we all know this business is not that profitable like it used to be in the past. 
Miners are keep mining so mining crypto is still profitable. Estimating the cost and result is a must in mining. Considerations in electricity bills, Hardware to use, the cost of each GPU due to rising demand in the market, the ambient temperature in your location, and many more considerations are needed. Some crypto mining companies are heading out into the best geographical locations that have low electricity fees and cooler temperatures just to make sure they can get the ROI for a much shorter period of time.
If you feel mining isn't for you then find other profitable ways like trading or investing.
If you feel mining isn't for you then find other profitable ways like trading or investing.
from what I know, most currently self mining is quite detrimental, but I don't know the real truth. However, if you think about it, owning your own mining equipment has many considerations, such as electricity costs, and maintenance costs, unless you have an alternative to that. Another thing to think about is, right now you need expensive hardware to mine, and mines currently don't produce much if you don't have the latest high-quality VGA rigs. however, the cost considerations are substantial. Personally, I might prefer dividend coins or stakes. however, what I'm currently doing is selecting coins that I think will develop in the future, and selling them at a high price.
Quite right, the mining business if you'll be doing it individually needs to consider a lots of factors before you take your step,
there are cost that may hurt your pocket if you don't do your research correctly.
If you don't have that much money, staking or trading might be much prefer. You are always have good options after you do
your own reaearch and study.
from what I know, most currently self mining is quite detrimental, but I don't know the real truth. However, if you think about it, owning your own mining equipment has many considerations, such as electricity costs, and maintenance costs, unless you have an alternative to that. Another thing to think about is, right now you need expensive hardware to mine, and mines currently don't produce much if you don't have the latest high-quality VGA rigs. however, the cost considerations are substantial. Personally, I might prefer dividend coins or stakes. however, what I'm currently doing is selecting coins that I think will develop in the future, and selling them at a high price.
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.
A good source to check how much you can earn at the moment with mining with different gpu's is https://whattomine.com/
But generally you can say that if you have to pay for your electricity than it's probably not really profitable to mine especially when you also have to buy your gpu's for the full price first.
In that case i would just buy coins for the amount of money that you were willing to invest in a mining rig.. probably better.
Mining is getting harder and harder and a lot of capital is required for this job. Many countries are taking measures for the electricity problem. I think mining in 2021 is a very difficult task, but you can make a good profit with altcoin investments.
The major problem currently facing the mining world is that of the costly electricity which has brought upon the miners more harsh and this made it not profitable again compared to the past. Those who where into the mining of Bitcoin in my country has folded up because of the electricity charges that the government brought upon miners, currently those who are not financially strong has closed their business and moved on-to new environment Mining is getting harder and harder and a lot of capital is required for this job. Many countries are taking measures for the electricity problem. I think mining in 2021 is a very difficult task, but you can make a good profit with altcoin investments.
Mining is certainly a profitable business, but very expensive. Good farms will pay off in a year at best. It is necessary to take into account the instability of the exchange rate; for a long time you can hardly make any profit at all. Of course, not everyone can be traders, it is easier for someone to mine. But I would invest money for a farm in Bitcoin.
Coins that use the POW protocol will live exclusively on mining and nothing can change that. Therefore, mining is profitable and it will be profitable until these projects switch to another protocol.
Currently mining and my ROI is far away, if bear comes very soon it will take me longer to get my ROI back but I'm in for long and short term run though, whatever happens I'm ready, also electricity costs is something you must look into before buying miners or gpu
If Crypto mining isn't profitable people won't be into the system, some are saying the high returns will not be here forever but the earlier the better, you can make almost your ROI before bear market takes over crypto space once again
Well said, electricity costs is something one must look into before buying and building a mining rig, you have to do your math accurately before taking any steps, I plan on mining for years so I ended up building a solar and big battery backup because electricity don't stay 24hours a day in my country
Yes, this really needs to be taken into account because using electricity continuously without stopping can also be dangerous, especially if there are occasional blackouts in certain areas, the point is that this can still be tricked in several ways by some people.
Mining is a long term investment and some times you get your ROI faster just because of bull season like the one we are in presently, you need to know how to keep your GPUs alive, the enemy of your mining rig is heat if you mine at good temp your GPUs will have a very very long life span and you will still end up selling them to gamers to upgrade to another card
Mining is getting harder and harder and a lot of capital is required for this job. Many countries are taking measures for the electricity problem. I think mining in 2021 is a very difficult task, but you can make a good profit with altcoin investments.
Maybe it is only difficult for you or at your own place, because this kind of thing is not experienced by other people who are in different countries, because the electricity problem at this time is no longer considered a serious obstacle in terms of mining, especially for those who are already can handle this, obviously they will continue to mine through the devices they already have.Mining is getting harder and harder and a lot of capital is required for this job. Many countries are taking measures for the electricity problem. I think mining in 2021 is a very difficult task, but you can make a good profit with altcoin investments.
Maybe it is only difficult for you or at your own place, because this kind of thing is not experienced by other people who are in different countries, because the electricity problem at this time is no longer considered a serious obstacle in terms of mining, especially for those who are already can handle this, obviously they will continue to mine through the devices they already have.Jump to: