Alright ladies and gents. So, I've been looking into cryptos. Should i buy an expensive rig right away? Should I just buy coins from online,and start trading? Should i try cloud mining, our join a pool? Should i talk to an investor at a bank?
These are all questions that were killing me for a long time. I found something that works for me. Now what I'm writing this article on isn't gonna get you rich. It's just for people to get a start without having to spend hundreds even thousands on programs and hardware. To get your beak wet in other words. I found this site minergate.
At first i got mixed reviews, some people were telling SCAM, and yet others swore by it as a start up. I was sold on reviewing it. So you know i have no contract. Nor is this a paid review. I just want to get the word out to people that are interested in cryptos. Just don't want to spend money on it away.
Ok so first things first you need a computer that has Windows 7 or better. I believe that's everyone these days. (That run p.c.s) then go to www.minergate.com or click this
Look around see if you like it. Go to download, i believe they are up to version 8.1 now. Which is so much better and easier to use then the old version. After you sign up and download pick the currency you want to mine. Keep in mind the better the hardware the more you will earn. Right now i am mining monero, but they have bitcoin, bitcoin gold, ethereum, ethereum classic, monero original, zcash, litecoin, dashcoin, and more.
They have a chat community if you have questions. Other people on there want to see you succeed, so they give advice and help where ever they can. If that doesn't help there is a support tab where you can send the developers an email with your issue and they will help.
There is also cloud mining. This part you have to pay for, but it seems pretty reasonable. Your coins are newly mined and are credited straight from the block reward. There is a little fee. So i don't have any contracts but I'm mining monero. So for say 100H/s would cost about $70.31. And you only pay that once. You can go as low as 10H/s for $6.43 or as high as 126,000H/s and that will cost you about 81,000 dollars,but that would be more for companies not the average user.
Ok let's say you want to mine 1 monero a day. You would need roughly 3,000H/s. So if you go through here it would cost you $1948.7199 (this is all in usd.) One time cost. And the daily fee is $2.01. So the first payment, if you want one coin a day) is $1950.72 ( I rounded up to the nearest sent.) that's a nice Chunk of Change now is it worth it? I would have to say yes. Saying you get 1 XMR a day, in 10 days you made your money back and a profit of about $185.18.
So let's say you continue this trend for a year after you broke even. And just say the maket for XMR stayed the same at its current $213.39 you would make $77,960.35. Now lets take away the maintenance cost of $2.01 a day. So, $733.65 a year. Thats $77226.71. Now thats with cloud mining. I'm no expert so i don't know what the energy cost would be, but playing around with the numbs was fun.
There is also an app for Android that minergate has and works the same as the pc software. This is what it looks like when running.
Thank you for stopping by. Let me know what you think if you liked it please follow and up vote so more people can see this and get informed. If you want to check this out hers a link ->
Again thank you and sorry this was so long, but there was a lot of stuff to go over and there is still more. That's for another time though. Cheers.
