Mining may be more difficult than the other ways, but it may be more profitable when you mine successfully.
Although the mining process can be done from a computer, you still need basic software, specific hardware, crypto wallets, and much of electricity. For most people, mining is a highly specialized industry that is not suitable for individual investors.
Most Bitcoin mining is done in a large warehouse where there is cheap electricity.
Sometimes, the hardware is also expensive. For example, during the bull market in 2017, the price of GPU raised steeply, while as the market collapses, you can buy good mining equipment with less cost.
In the early years, the bitcoin miners were able to earn coins relatively quickly. But by 2019, cryptocurrency mining is more complicated. Many professional miners have built huge arrays to mine, making it harder for smaller miners. Of course, you can join a bitcoin mining pool to be more effective, but that comes with a fee.
I also find out some crypto miner app in the crypto industry, claiming to help you mine crypto coins. It’s more like a hobby mining. Don’t rely on the app to make great money for you.
￭ Earning potentials is higher
￭ High cost to start
￭ relatively difficult