The World of Cryptocurrency - Mining or Staking? 🤔

In previous discussion, we already seen the overview of what Cryptocurrency Mining is. We are going to compare Mining from Staking and which of the two having lower investment with higher returns. For us to discover which is which, we are going to discuss its differences.

We can mine coins freely as much as we want. The coins were just there waiting to be mined. But with mining we need to buy a mining rig which can cost anywhere from a thousand to two thousand. Over a span of a year that mining rig wears away and can get burned out - we need to maintain it and when we go to sell all of those parts they're worth half as much as we paid or less. This rig is operational round the clock and this will cause of higher electricity bill each month.

While with staking, we need to buy coins and put them in our wallet - and stake them. We will be paid a percentage based on how many coins we own. The fascinating thing is that cryptocurrency seems to be heading towards proof of stake. After a year of staking, there's a good probability if we chose the right coin, it would be worth even more than the profit of that mining rig. We dont have to worry about those hardware worn-out and over a year its worth will be 50% or less. Staking is free from electricity bill monthly and it might even be a lower investment because you can sell those coins at a right time with a good price.

In conclusion, we should consider staking instead of mining a coin to have a lower investment and a higher return at the end. There are plenty of stakable coins out there and they're all very fascinating.