Is Bitcoin Mining Profitable? – Today, Bitcoin may be the most popular digital currency. It is getting harder and harder to mine. Some people say that Bitcoin will become the easiest way to make the payments worldwide. This also will become the global currency.
Some others say that they can make money online through bitcoin mining and work from home. Most people want to find out whether bitcoin mining is profitable or not. Some of them want to start a bitcoin mining business.
It is the right time to focus on this subject because the bitcoin’s price has moved up dramatically. It is possible that it keeps on going up and collapses at any time.
Is Bitcoin Mining Profitable?
In 2008 and a few years after, bitcoin mining was so profitable because the bitcoin value went higher and higher. Therefore, it became harder and more time and energy consuming to mine bitcoin. It also becomes more expensive to start a bitcoin mining business. Buying it from the bitcoin miners and holders is the only way of making a profit through bitcoin. Then, you have to hold your bitcoin and wait for its value to go higher. After that, you can sell your bitcoin and make some profit.
A. Bitcoin Mining Online
There is top bitcoin cloud mining (mining online) services :
In 2017, it is one of the best and popular bitcoin mining online services on the internet. If you want to get into bitcoin mining online, you must join hashflare. Bitcoin mining online is very profitable and highly recommends suggests it everyone doing so. Mainly reason why using Hashflare because it has given the greatest return for your deposits. In hashflare, you can also invite and recommend your friend. You will receive an easy 10% for the whole amount that your friends will make. Depending on the contract he chose, your friends probably earn much more % on his 1 bitcoin.
This allows mining of variety bitcoin. Genesis Mining allows users to allocate how the mining operates. This will be better for an expecting quicker payout. It is because Genesis Mining automatically converts from mined bitcoin to the desired bitcoin, allowing the payout threshold to be reached earlier. It also shows how much you are getting paid, what portion is fees and many more. That information is very useful for predicting profitability.
B. Bitcoin Mining Hardware
If you are aware of the competitive nature of Bitcoin mining and still want to get in the game, here you will be able to find the best bitcoin mining hardware available. When joining to trade bitcoin, keep in mind that in order to see how profitable you can be with any bitcoin miner. The bitcoin exchange rate and the increase in difficulty throughout time, you will need to make some calculations based on your electricity. cost. Since not all of these variables are known, you will have to guess some as best as you can.
1.AntMiner S5 Bitcoin Miner
This is the entry level bitcoin miner for someone who is not ready to part away with more than a few hundred bucks.Users who have purchased it seem mostly pleased with the device. You will not make more than 0.05 BTC each money in revenue ,however, this is an outdated device and with today’s mining difficulty. You will need to run it for about one year and 8 months to get a full bitcoin. Some customers also complained about the device being too noisy.
2.Avalon 6 Bitcoin Miner
This is a great contender for both S5 and S7 AntMiners. One of the users says that it is not nearly as your usual miner and the hash rate is pretty reasonable.
C.Bitcoin Mining Software
Besides monitoring an input and output of your miner, Bitcoin Mining Software also displays statistics such as hashrate and the speed of your miner.
This is the best software you can choose to trade Bitcoin Mining.
Currently, this software is the most popular FPGA/ASIC/GPU miner. CG miner is available for several platforms such as Windows, Linux, and OS X. The fact that it is based on the original code Cpu Miner makes it extremely popular. CG miner includes monitoring, overclocking, remote interface capabilities and fans peed control.
These features include self-detection of new blocks with a mini-database, multi GPU and CPU mining support. There are a lot of other characteristics. At CGminer official forum, you can discover it.
As a derivative of the previous CGminer, This software designed specifically for ASICs and FPGA, but without the central focus on GPUs. The last updated of CGminer includes monitoring, dynamic clocking, and remote interface features.
BFGminer also has interesting features like integrated overclocking and fan control, vector support, ADL device reordering by PCI bus ID, support for mining with free Mesa/LLVM OpenCL, getting block template decentralized mining protocol, and crypt mining support for both CPU and Open CL (GPU).
D.Free Bitcoin Mining
Bitcoin mining is no new thing. Many bitcoin investment websites offer cloud mining online. This can be run without any downloads and installations.You can make a free account online and start earning bitcoins.
Free Power: Ƀ 0.00010000
Per Month Earning: Ƀ 0.00006097
Referral Bonus: 10% Lifetime
Free Power: 130 GH/s
Per Month Earning: Ƀ 0.00037301
Referral Bonus: 5 GH/s
Free Power: 100 GH/s
Per Month Earning: Ƀ 0.00005201
Referral Bonus: 5 GH/s
E. Best Bitcoin Miner
For those still interested in Digital Currency, here are 10 alternative digital coins.
This is an open sourced and privacy-centric digital currency with instant transactions. You are allowed to keep your finances private because you make transactions without waits. This transaction is similar to cash.
– Low fees
– Peer to peer
Safecoin is a digital token. It can be thought of as the oil the engine of the SAFE Network. A built-in way of ensuring which all users of the network are compensated for the value they provide. When users exchange them for network services, Safecoin will be recycled.