Making Money On Crypto Mining In 2019... | 2019-03-06 08:06 UTC

The days when crypto mining was super-profitable passed away. When the bitcoin mining reward per block was several times greater than current 12.5 BTC, only a small number of people knew about Bitcoin and cryptocurrencies in general. Some of the coins mined at that time irretrievably disappeared due to the loss of access to crypto wallets.

Today, the number of people willing to get the main cryptocurrency is much higher, but the reward for adding a new block to blockchain is lower, and it'll be halved again in May 2020. Therefore, profit from crypto mining isn't obvious. Today we'll consider real prospects of mining in 2019 taking to account the current situation on the crypto market.

A miner's profit is the sum that remains after deducting the cost of mining equipment and electricity. Thus, the profitability of mining directly depends on two factors — electricity price in a particular country and Bitcoin mining difficulty. The more participants want to get their portion of new coins, the higher the difficulty is. Also, more complex mathematical calculations are required to add a new block to blockchain. Therefore, computers consume more electricity.

By blockspoint on 2019-03-06 08:06 UTC
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