No matter where you stand on cryptocurrency, it's safe to say it's here to stay. Since 2008, Crypto has been steadily growing, diversifying, and changing the internet as we know it.
Crypto-mining has emerged in this industry as an activity that some users take up to make some extra money. Mining is the action of solving algorithmic problems using computations.
If you're considering digging deeper into this exciting new market but don't know where to start, we're here to help. Below are some must-have basics to start you on your crypto-mining journey:
First and foremost, you're going to need an antenna. Without one, even the finest equipment could easily be dead in the water, unable to transmit and receive data. Finding the best Helium antenna on the market doesn't have to be daunting. In fact, just follow the top rule for real estate: location location location.
Are you in a highly populated, dense urban environment? Or a sparse, more rural area? Whether you're living on a ranch in Arizona or the suburbs of St. Paul, it's essential to consider your surroundings. There's a specific antenna that's perfect for where you are.
Unfortunately, it's not 2008 anymore, and the age of doing meaningful mining on your average CPU is gone. However, because this is a highly competitive field, two contenders are leading the pack on how to mine.
GPUs (Graphics Processing Units) and ASIC (Application Specific Integrated Circuits) are robust enough to tackle the extreme computational demand of mining. In general, ASICs will give you higher computational power but less flexibility in what you'll be mining. Conversely, GPUs are more versatile but less powerful.
For the solo miner, GPUs offer a much more accessible approach to mining. However, if you have a lot of capital to invest and are joining the crypto movement for the long haul, an ASIC will be a more profitable approach.
Computer vs. Rig
Investing so much of your money in a mining rig with only one use can be intimidating. There's a lot of hype around crypto, so it's reasonable to feel skeptical about the market.
If you're unsure how “all-in” you want to go on crypto, consider purchasing a computer instead. The best computers to invest in are the ones built for gaming.
While they tend towards the expensive end of computers on the market, they can be an excellent investment for both your active and passive incomes. You can mine in your off-hours when you're not using the computer for work or leisure.
The Best Time to Start Mining
Getting lost in the rabbit hole of new and changing information within the crypto market is easy. However, the time to begin mining was yesterday (or yesterday circa 2008, to be more specific).
Beginning your crypto-journey can be initially pricey, but it still has a massive opportunity for growth and reward. If you invest in bonds or the stock exchange, crypto is a fantastic way to diversify your portfolio. Making small steps today can keep you at the front of the curve in this quickly changing economy.