The topic of who is more profitable, mining or buying coins, has never stopped. And in a context where the price of coins continues to go down today, this answer is even more obvious. It is widely believed that speculation in coins has high returns, but the risk factor taken by investors is also very high, and one mistake may result in a capital loss. Coin speculation requires investors to be quite accurate about the timing, and to understand the background of the investor and the industry market information. otherwise, it is very difficult for you to obtain wealth beyond your perception. Mining coins guarantees you a certain gain, and from a long-term investment perspective, it is definitely better.
The principle of virtual currency mining is to use the hashrate of a computer to run a special algorithm for virtual currencies and calculate the hash value in accordance with its rules. In essence, it is to generate the latest block of virtual currency and hang this block on the end of the original blockchain, which can be interpreted as a competition for the right to keep track of the ledger. The reason why investors are keen on virtual currency mining is that the issuer of the virtual currency gives some rewards for this behavior, and because many investors recognize the value of this virtual currency, this newly generated virtual currency will have a high value in the market.
Mining is the most primitive way to get digital currency from the source. The process of mining is buying coins every second, using the cost of electricity to buy coins at a lower price than the market. If you are bullish on a coin market for a long time, then the best way to stock up on coins is actually mining rather than buying them. The cost of the primary market will always be the lowest, “mining” will continue to accumulate quantity, and your earnings will also increase, short-term ups and downs will not have a great impact on mining earnings, your final earnings only depend on what price period you sell the currency, how much profit depends on your own knowledge of the currency.
There are various ways to mine, the main ones for hardware are: CPU, GPU, professional mining machine and hard disk, router, cell phone, TV box, and other broadband storage sharing. However, with the rise in mining costs, CPU and GPU mining methods are gradually withdrawn from the market, and professional mining machines controlled by Bitmain and other “mining hegemons” are in the absolute position of mining equipment.
An ASIC mining machine is an electronic circuit (chip) specially designed for a specific application. If this kind of circuit is used for mining chips, it is an ASIC chip, and a mining machine equipped with an ASIC chip is an ASIC mining machine. Because the chip is designed to only mine a certain type of digital currency, its design can be much simpler and less expensive. But the most important thing is that in terms of mining hashrate, ASIC can be tens of thousands of times higher than its contemporaries CPUs and GPUs or even more. This is why it changed the mining landscape of Bitcoin as soon as it was introduced, completely eliminating CPU and GPU mining machines and reigning supreme from then on.ASIC mining machines are the best choice for mining in terms of stability and diversity of coins that can be mined. According to our experience, we recommend you to choose Bitmain and whatsminer’s Asic mining machines, which are designed to be more stable compared to other brands, and their hashrate levels are higher, so the high stability and high hashrate can make the mining machine’s mineability longer.
Post time: Jul-23-2022