Is Mining Cryptocurrency Profitable & Can You Make Money

I am asked these questions often so I decided to make a video about it, along with some other questions and answers.

I see the question often enough these days “Is mining cryptocurrency profitable”? And the answer fully depends on a lot of variables.

The value of cryptocurrency goes up and down with bitcoin and the stock market. Public opinion and the news affects the prices a lot too these days.

But the general answer is “yes”. You can make money mining cryptocurrency. Depending on your graphics card and the cost of electricity in your area, you can make some money mining cryptocurrency.

Back in winter of 2017-18 my entry level GTX1050 graphics cards were bringing in $30 – 45 a month – each. Your return on investment was about three – 6 months back then. These days I am lucky to see $7.50 each in a month, before electric costs.

I look at mining as an investment but with reduced risk. I buy computer parts which I can always sell or use if crypto tanks. So my risk is reduced overall as compared to direct investments.

I mine super cheap coins worth a fraction of a penny. I look for the most profitable coin where I can gain the most coins per day and have the least amount of people mining them.

Your earnings are affected by the market overall, the daily value of the coin you mine, the amount of coins you can mine and the number of people mining.

But if you look at it as a long term investment then it is very much worth it. If cryptocurrency goes mainstream one day then it all pays off in the end.

Thanks for watching. Please Subscribe & follow my daily videos.

Troy
http://www.thedoityourselfworld.com
http://www.theoffgridproject.com

The Do It Yourself World and The Off Grid Project are trademarks under The Do It Yourself World LLC

————————————————————————————————————-

CHECK OUT OUR OTHER CHANNELS:

Off Grid Homesteading With Melanie: https://www.youtube.com/channel/UCFRwlShDuXP5WXdtXV15rAQ

The Do It Yourself World Electronics: https://www.diytube.video/channel/2/

TR Tech Tactical & Survival: https://www.youtube.com/channel/UChPdsvwahC2wh8lvWs6ud4g

————————————————————————————————————-

Join our Patreon account for special videos and footage, prizes, gifts and more: https://www.patreon.com/TheDoItYourselfWorld

Join DIY Tube Video Community and get paid for just about everything you do on there.
http://www.diytube.video

————————————————————————————————————-

Note: Copying this video, in part or in full, is a violation of copyright unless the user has express permission from the owner. Violation of this copyright will be pursued to the fullest extent of the law.

If you make a purchase of a product through a link that I provide I may earn a small commission on that purchase. Thank you.

I do not get paid to endorse products although I may, at times, review a product given to me for free. I am not paid for my reviews. If I purchase a product myself for review I will disclose that in the video.

Is Mining Cryptocurrency Profitable & Can You Make Money

Related Post:

About The Author

Kane Dane