We must all be aware that there are two basic factors that control the profitability of currency mining. The first thing is the price of electricity and secondly the current currency price. The current average price of electricity in the world represents about 70% of the profitability of mining. Simply put, if your mining device gives you $100 a day, then $70 of them goes to electricity
The second factor is the price of the currency that you are mining because mining gives you coins not dollars, so simply if you mine and you get 10 coins and the coin is worth 10 dollars, then you will get 100 dollars per day, but if the same coin is still worth 20 dollars, then you will get 200 instead of 100 dollars.
So, what are the current profitable mining opportunities?
If we talk about the natural system that we will pay for electricity at the average global price, it will currently remain undisputed. Bitcoin $BTC is the only profitable currency in mining currently at the current currency prices.
You have such a method for mining Bitcoin, but in the end they all use the same device for mining, which is the ASIC Miner, which is a device similar to a computer power supply, and it is specific for mining Bitcoin only.
But the methods for investing in Bitcoin mining differ
The first and most expensive is that you buy your own device, which costs about $6,000 and costs about $400 to $500 per month.
The second method is cloud mining or cloud mining, which is subscribing to part of a device that remains available with mining companies or providers of this service, and by the way, Binance has this service on the platform.
I will make detailed posts about each type and how to start with it
If you have any questions, please feel free to ask
