Topic: Mining vs Buying Altcoins, which option is better? - page 4. (Read 2890 times)

Trading and mining, both require different skillset.

Doing a successful altcoin trading isn't easy. The crypto markets is fast paced, volatile and is full of shit and dead coins where some are even scams. You need to be good at chart reading and should be able to see the peaks and troughs as they develop. It is possible to earn money quickly here if you stay focused on the movement of many coins at the same time and keep moving your investment around. This will need time to get perfect at and patience is a key.

Now lets come to Altcoin mining. Altcoin mining, unlike Bitcoin mining (where electricity costs, funds availability, and mining hardware are all factors in determining if Bitcoin mining is worth it) simply requires funds and research. Mining is a long term investment. You pay for your hash rate in your chosen coin, then sit back and watch a small amount come back to you each day. Mining is less riskier than trading but profit are minimal. For better profit, mining coin at launch time can earn a good profit. But it is a lot riskier.

I would like to say that, if you want higher profit, can bear higher risk and good at analysis, you can go for trading. If you want little profit coming to you every day with less risk and have technical knowledge, then go for cloud mining (most probably in the first year of mining you would only be able to earn the initial investment you put into mining but can make profit in coming years).

depends on the time and commitment, if you have free electricity and have interest in getting your own coins, you can mine. Trading tends to be more engaging than that. If you want to just hold coins for the future, buying is the best option.

I'm more interested in choosing both. Mining and buying some then hold it is the best option to get profit. But with the current market conditions, it's better to hold some alt coin and wait until the price recover.

It depends on two things, money and abilities you have

If you have enough money, you can do mining, but mining is not as easy as anyone thinks, you have to have a way to make your electricity bill not high, the second option after hardware for mining you can use cloud mining, but the bad side you need a capital More and trust the money you will use to buy your cloud mining machine from a cloud mining provider.

The second if you do not have enough skills for trading, do not rush to do it, because it will only spend your money alone. Learn what is what is needed for trading, when you are absolutely sure to master it, then you start to trade. Your ability to trade is very important because the wrong calculation will also make you lose.

When you want to mine you need a large amount of money because you need a high specs computer peripherals and  parts. For me go to trading or buy alt coins it is more cheaper than it.

It is up to you to know what income do you like. If you want a passive income go for mining. Because at mining you kust need to set it up and just wait for your bitcoins to bloom like a flower in your mining system and become a rich person. But if you want an active income, go for trading. But you just need to be literate about that. You need to attain trading literacy for you to be good at that

Very few altcoins can be mined with small scale equipment, considering it one need to decide whether to buy altcoins and invest or just mine and invest whats been got. Compared to bitcoin mining, altcoins can be mined in a much easier as well in a very simple manner without much of power consumption.

The best for your average Joe is HODL. For some people (with extensive trading/blockchain/statistics skills) trading the larger hypes and reversals is worth the time too. Daytrading is shit, too much time for too little.

I think it really depends on the stage of development the respective coin is at. Take ETH for instance. If you got into mining even at the beginning of 2017, you would be sitting pretty, but the difficulty of mining gets more and more difficult with the increase of users. Right now if you were to get into ETH, disregarding any plans they have to make the difficulty easier, then you would be investing quite a bit of money (500+) for basic hardware, and a very little profit margin. As others have mentioned the power costs are something to take into account as well.

Where it is more beneficial to mine is to get into the new coins that are in Proof of Work (PoW). For example, the Golem project is in the very early stages and we are close to a beta which would allow us to 'rent' our pc hardware similar to the mining structure of ETH. The ability to 'rent' or mine has unknown capabilities right now, but you can pretty much guarantee that it will get more difficult as it develops.

Essentially if you want to mine and have hardware, you should look into new coin projects and roll the dice to what you think will be the next BTC or ETH. Investing fiat currency into coins is the best option imo when the difficulty of mining gets to the point that electricity costs more than the value you are mining at the current price. Then again, a lot of miners like myself mine for the long term value. So you must ask yourself if you are looking for quick ROI or a long term ROI.

Hope this helps.

You are right that in most cases buying is better but I think mining some altcoin specially fresh new ones is a finer choice. It is better in terms of the capital you will use in buying some mining equipments since the funds would not only go to one cryptocurreny. If the coin you are mining grows, you will gain more than what you invested easier, and getting returns on your investment. If the coin you mined didn't got a good value to sell into, you can still choose another altcoin to mine for profit after all, you got the equipment and the only thing you will have to deal with is how to have cheap electricity.

Better buy coins and hold. If you have access to large amounts of very cheap or free electricity then you might be able to make a profit mining.

Always buying.

If you are dedicated and having cheap electricity,.... mining may be better.
In general, buying is the best.

The best is actually to HODL.

I agree if you will be lucky and mine a coin which is not been listed yet inside big exchange and timing happen that after you have it and begin to trade you will be getting huge profits, things happen inside crypto business and many manipulators are involve to move such project better as well to find some project who do offer pre-sales so you will really get a high chance to earn big profits after.

Well, for fresh and new altcoins mine them probably the best choice because if those coins get listed on exchanges and pumped up by someone/bot you might be a millionaire but since most of new altcoins are shit and scam so be aware with them.

Buying altcoins can be called with trading, which is the popular way to earn.

I think it's better to buy. Indeed, mining has thought of mining products that certainty is big enough. But the longer will be more difficult and require a considerable cost. While buying altcoin more to a little certainty to get a big profit. But if we are more thorough and broader our knowledge and insight about altcoin. Did not rule out the results would be perfect.

For me I'll take buying altcoin on real market is better than mining. After buy we only wait and see when the price comes up and sell it, but mining is needed hard work even we have equipment. Mining and buying has their own risk, we can take one or both as the way to get more profit. For me, buying altcoin for investment or trading is the best. Good luck.

If u havent any experience with mining than start with investing.

Rather you play with crypto for awhile before jumping into mining. It's not an easy task and you have to mine if for several months to a year to yield ROI positive+.

Depends what you want to do.

If you are asking in terms of making money right away, definitely buying is the answer.  If you are asking because Cryptocurrencies interest you, and you want to really feel apart of it, and making money doesn't matter, then mining is the way to go.

If you choose to mine, you will need to put a lot of money up front, that you probably won't make back for at least 5-6 months.  Up shot is if the difficulty doesn't increase much in that time, you can continue to make more coins then you could have purchased right away.  The bad side, if you choose to mine, and another ASIC wave comes through (Next Gen ASIC's launch), you may not even make back what you originally purchased your mining rig for. 

Mining is good but this is not a good time to join the mining community because the GPU is very expensive right now. Wait for a big crash and newbies miners will sell all of their bitcoin. And then, we will collect cheap GPU to mine