Bitcoin is in for the long haul, even if the cryptocurrency craze has settled down in recent months. And if you’re still wondering, “what’s this bitcoin mining thing actually about? Can I really make money out of it?” then take this to heart: Yes, bitcoin mining is a tech activity that can help you earn some extra cash on the side — as long as you’re ready for the challenge. Fortunately, we have just the guide to help you get started.
Related: Mining for bitcoins just got a lot harder
Understand the amount of effort involved
Mining for bitcoins is not a casual undertaking. The idea seems simple enough, but the practice of bitcoin mining takes a lot of work. You need to invest a significant amount of money when first starting up, be willing to upgrade your equipment regularly, and constantly monitor the conditions of the bitcoin market — and that’s just the beginning. To earn any appreciable money while mining bitcoins, you have to work at it. Additionally, earning money via bitcoin is more difficult than ever now that the monetary reward for mining bitcoins has been essentially cut in half, a process that’s supposed to occur every four years.
Read more ... source: TheBitcoinNews
Let's block ads! (Why?)
Powered by Bitcoin Central