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RE: 5 strategies to profit from crypto- After talk with @ScaredyCatGuide
I have heard about mining in several places. But I am not clear about this. What exactly is mining ? How is it done ? There may be fake sites too. How can we know which site is spam and which site is genuine. Any help you can do in this topic :) @zeartul
Mining is what cryptocurrency is about.
You can purchase hardware, such as GPUS, CUP's and cryptocurrency specified miners to mine.
Mining is basically using computers to verify transactions on the network of the coin that you are mining. Whoever verifies the transaction gets the block reward of that coin. Bitcoin for example, rewards 12.5 Bitcoins to miners every ten minutes. Mining is very profitable if you mine the right coins. I mine Bitcoin, Litcoin, Zcash, and Steem. I make about 50 dollars a day between the 3. I get 40 a day in Bitcoin and about 10 a day between the otber 2. It is fun and rewarding. I do have about 6000 dollars invested into mining but it pays itself off in 4-6 months. I hope this helped you understand a little more about the mining process.