As much as there is to love about farming crypto mining is not so much different. Nothing is better at harvest time when it comes to the farm. That is the time to start counting your money! Farmers anticipate this time for several months always calculating what we think the yield will be and what the price is going to be at the time of harvest. This is not so much different to wake up check the markets and see how your trading bot performed - just like harvest time but in the crypto world.
While I am not going to discuss the profitability of mining on a small scale as my personal goals for mining may differ from others. My objective is to mine coins I feel have potential for profit gains (long-term) and for trading.
Understanding what coins are possible hits is a whole new blog. Be careful of the pump and dumps. I have seen these all too often with most losing out on this scheme. A select few much like other scams in the crypto world walk away with any real profit at the expense of others. Never being one myself to pat myself on the back at the expense of others I have avoided these pump and dump deals regardless of the high potential profits. I think most long-term players and traders in the crypto world have solid investment strategies and tend to understand the markets with much more maturity and integrity to their investing strategies.
Promoting different cryptocurrency and projects you are involved in is a great way to make some affiliate income to add to the already costly mining.
I use several different mining pools as each has there strong points and different altcoins available. Look for the pools you can auto exchange if you're feeling a bit lazy to manage it yourself. The ones I prefer are MinerGate for CPU mining, Miningpoolhub.com, and suprnova. Nanopool is not bad but seemed very slow to me and has limited cryptos you can mine.
I have to admit Nicehash still does a great job but since they promised to return the money that was stolen to us and still to this date have not I do not feel like I should support them. Not sure when they will follow through with returning the stolen funds but until then avoiding their site. Nicehash only pays out in BTC and has no options for miners to be paid in anything crypto.
With that said I will continue to run my miners for now while adding more capacity. Trading days are great with the ups and downs. A great way to make decent returns.
https://minergate.com/a/cdf6c3c05d079fe5238567ad
For exchange site I do like coinbase, bittrex and binance. I also use Kucoin the most of trading but be careful they will list about any worthless coin that comes out.
No investment advice just what we are doing with our little mining farm. Enjoy the crypto world!
