How to start mining cryptocurrency from scratch and without investments

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The price of bitcoin is breaking historical records, and many are wondering: should we start mining cryptocurrency? However, the majority is still stopped by the thought that this requires huge investments at the start - and people part with the dream without even trying

Contrary to popular belief, in order to start cryptocurrency mining the same bitcoin, it is absolutely not necessary to thoroughly understand blockchain technology. It is enough to understand that mining, in fact, is a mathematical calculation that is aimed at solving a problem consisting of solutions to all previous problems in a huge chain. For the correct result, an award in the form of “coins” is awarded, each of which stands today as a new A-class Mercedes.

In accordance with this principle, each next task turns out to be more difficult than the previous one, and therefore every year more and more powerful hardware is required to mine the coveted coins. In the 12 years that have passed since the creation of bitcoin, humanity has mined 18.5 million coins out of 21 million possible, but analysts believe that it will take at least a century to find the remaining 2.5 million - the process of their extraction will become so complicated.

However, in connection with this, it is not worth taking a loan for a dozen top-end video cards today. Before resolving the issue with iron, you need to decide on a much more important point: what exactly to mine.

Most people today are familiar with only one cryptocurrency - bitcoin. It is the most hyped and the most expensive, which is why novice miners do not even think about whether there are any other options. And they are, and in abundance.

First of all, altcoins are interesting because they are easier to mine than bitcoin, since they are younger, and far fewer people are interested in them. This means that mining some of them does not require a whole farm at all, but it will most likely be possible to earn money on them not earlier than in a few years, when their rate will rise.

Most of all, venerable miners, investors and analysts today place their hopes on the so-called ether (Etherium). Its price at the moment is a little more than a thousand dollars, but there is reason to believe that by the end of this year it will grow by 2-3 times.

 

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