Hi All,
I've been part of the crypto world since September of last year and very recently I've been fascinated with the idea of mining coins as a additional source of income from home.
First of all this is basic rig which I am planning to upgrade my 7 year old to:
- Graphics Card - Gigabyte Geforce GT 710 2GB DDR5 Graphics Card (GV-N710D5-2GL) (ALREADY PURCHASED)
- Motherboard - Gigabyte GA-H110M-S2 Socket LGA 1151 Motherboard
- Processor - Intel Core i7 - 6th Gen
- HyperX Fury Black 8GB 2133MHz CL14 DDR4 Internal Memory
Now I know your first reactions would be that I have very under powered rig. My biggest concern is my budget at this point of time and hence can't put up a too big a rig at this point but I am willing to consider a better rig.
Secondly, my electricity cost is roughly $0.16 per unit (I have taken a higher slab considering I will end up reaching this while using more power)
Thirdly, I am uncertain what coin should I consider for mining from home. Should I go for Monero? Sia Coin? Steem? or anything else. This is one area which I am not sure. I am ok to work on a lower valued coin as of now which may give me 10-20% profitability in 2 months time.
Or do you guys think I am wasting my time with the rig I have in mind. Again I reiterate I am willing to put in $600 - $650 for upgrades if you suggest that's feasible.
Looking for some suggestions
This image is for reference