Mining vs Buying Altcoins, which option is better? - page 5.

jpoker272727

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Quote from: webhits on July 12, 2017, 06:31:34 AM

What do you think guys is the best to do at the current market situation - are people better of mining cryptos rather than just buying them from market exchanges and wallets?

When buying mining stuff you have already invested in both mining and hardware.

Good thing is that people are selling these stuff and making a good profit(sometimes much better than mining). Honestly I'm not doing both of them at a time. I will invest into some highly established altcoins alone. Because in my understanding, mining will be requiring more capital compared to investing into altcoins.

styca

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Buying is better. Mining costs electricity and the rewards are small. If you buy and hold for a decent amount of time, you'll come out way ahead vs what you could have mined. You just have to make sure you don't buy at too high a price. But if you're holding long-term anyway, that's not so much of an issue.

kryptqnick

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Quote from: juicejoyce on July 12, 2017, 11:44:40 AM

I think mining is much more interesting for me, you can learn much knowledge about this coins, how it works and meet many friends in this community.

Yes, mining makes you more engaged into what you do than investing in altcoins. But it need certain conditions and time, right? I suppose many people have jobs and other things they have to do, so mining would be a risky idea for them. Plus, mining is also sort of an investment into altcoins, because you have to spend money of miners and electricity. To sum up, I prefer investment.

Nalien

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Buying is the more profitable option for sure. The risks are roughly comparable depending on the size of your investment.

If you buy loads of hardware to mine and coins go to shit you might not even be able to pull in the electricity cost and thus make a loss even after reselling your hardware. Cases of substantial profits like the brief period from May to June are very rare and unreliable.

Of course, if you get lucky with mining a coin that will moon in the future, you would profit largely. But if you just bought the coin you would have more profits with no work involved.

juicejoyce

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I think mining is much more interesting for me, you can learn much knowledge about this coins, how it works and meet many friends in this community.

ice098

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Quote from: webhits on July 12, 2017, 06:31:34 AM

What do you think guys is the best to do at the current market situation - are people better of mining cryptos rather than just buying them from market exchanges and wallets?

i think it is good to invest in alt coin. because i am doing it, you are the one who decides what will you gonna do so that you may choose what to do. in mining you need a high specs pc but mining is free, in investing you need to invest in coin. both needed a risk its up to you.

Red-Apple

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the easier choice is buying altcoins. because with mining you have to spend money (electricity and equipment) and spend time to mine and shorten the lifetime of your equipment while doing it, and all of it in hopes of a profitable operation.

with buying or better say trading, you buy instantly and if it goes wrong you can always save your profit with stop loss and get out. and just as fast switch to another one and another one and ... but you can't easily switch from one coin to another if it became unprofitable.

enta2k

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The Future of Security Tokens

I invested a year ago and lost everything due to brain error Cheesy

Now I bought hardware for a small mining rig (3x1070) and mine along.
I think it´s kinda fun to test everything out and optimize the efficiency.

Even tough I have high electricity cost, I hope I can make some profit.
The plan is to mine fresh coins and hold them long term maybe I´m lucky and one of them will become worth something.

Okay, the etherum hype is over and it may seem like a horrible timing to invest into hardware, but the next hype is around the corner
and until then my system will be ready to mine the shit out of that new hipster coin.

elite3000

legendary

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The one that is most profitable for you. Do the math.

niisarearning

sr. member

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I could suggest best is trading because i tried to do mining and based on the initial budget and power(electricity ) Consumption in my country it was making me to step back. trading is good the small thing is that transaction charge and fees for every altcoin purchase 0.25%.

MWesterweele

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Quote from: webhits on July 12, 2017, 06:31:34 AM

What do you think guys is the best to do at the current market situation - are people better of mining cryptos rather than just buying them from market exchanges and wallets?

i think i more prefer to choose altcoin than mining, because in altcoin you may leave it and work for the day also. you may also see it when you want but in mining it will cost so many electricity so that your bill will be huge.

KesoNie

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It really depends on your wants and needs because if you just want a passive income then mining is good for you because you can earn money without doing anything except monitoring your rigs each day but if you want a bigger return but with a higher risk then investing in altcoin is the best. There is no best option because it is all about what people prefer for their income if either want bigger or stable returns.

StealthCoin1

sr. member

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Life failures Stealthcoin, Ark coin and Safemoon

I go with buying.

densuj

legendary

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There are no better options between mining or trading depend on the strategy trading and the strategy of mining, if we can make good prediction of the price and getting constant profit from trading, so trading is best choice and if we can find the profitable digital coins to be mined, mining is best option however between mining and trading there are risk to lose investment.

MarkReuter

newbie

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I haven’t checked different spaces or mining contracts for that matter. I believe that mining contracts may still be profitable but they pose different issues of possible fraud that I will cover in a different post.

Novun

full member

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You have three option: investing, trading, mining. With investing you invest for long term gain (6+months) and it is the safest option. With trading, I recommend swing trading. Always trade according to the trend. For mining you need some technical expertise, but might be the most risk-free method since you can sell the hardware anytime.

BitcoinHodler

hero member

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HODLing is an art, not just a word...

it depends on many things!
for trading (buying!) you have to be good at it. it is not a game to just buy and be sure you make profit. you need to know when to buy, and when to sell and what. the risk is high but the profit can also be very high if your timing is good enough.
and a decent amount of profit requires a decent amount of investment.

mining is not easy either. it is not like you can click a button and earn money from what you mine.
first thing you will notice about mining that will eat through your profit is the electricity cost. if you don't have a cheap electricity then forget about mining.
there are other issues too. such as the initial investment. you have to buy some good equipment. whether it is ASIC miners, or 1 or couple of good GPUs it will cost you a large amount of money.
then it is the problem with cooling and the sound which is the smallest issues.
but the other big issue is the fluctuations in price. the highly volatile nature of altcoins and the fact that they are pump and dumps can give you a huge profit or lead to a big loss.

so do some research, visit the mining boards, read more about mining, the trading, watch the prices and the market and learn. then make an informed decision to which way to go.

webhits

newbie

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What do you think guys is the best to do at the current market situation - are people better of mining cryptos rather than just buying them from market exchanges and wallets?

Topic: Mining vs Buying Altcoins, which option is better? - page 5. (Read 2890 times)