I want to share my experience with crypto mining and investing this year. I’ve learned a lot about the field and would love to hear from you!
My experience in Crypto this year
I have been involved in the crypto space since 2020. I made a lot of mistakes, learned a lot and am now looking forward to the future.
Let’s start with my early days: I was drawn to cryptocurrency because it was an opportunity to participate in something revolutionary. The way that money would look like in the future, better privacy, more freedom… But when you are new to something, you don’t always think about what is happening behind the scenes – how much effort is being put into it? It might not be obvious at first glance but there is plenty going on behind the scenes if you take a closer look at things like mining or even just buying coins through an exchange or wallet service like Coinbase.
The thing is that these companies need to make money as well so they charge fees for everything they do which means that if you want access then sometimes these fees can add up pretty quickly especially if you want instant transactions (which all exchanges offer). You also need electricity and equipment which costs money too so when we add those things up then what do we see? A lot more expenses than most people realize!
Mining is a long game. It’s not for everyone, it’s not for the impatient, and if you’re just looking to make profits quickly then this isn’t the way to go. It’s all about building up your mining rig over time and getting as much hashing power (the speed at which your computer can process data) as possible. The hardware itself doesn’t have much resale value afterwards so it’s best if you can get by with just one machine instead of having several computers dedicated solely to mining cryptocurrency.
Once you’ve built up enough hashing power, you’ll need some electricity that matches that amount of power consumption or else your setup will run hot which will lead to constant maintenance on your computer components over time due to dust buildup within them from all those fans spinning constantly at high speeds under high temperatures inside those large cases full of coolers!
You don’t have to be a hardcore cryptocurrency investor to enjoy the benefits of digital assets. In fact, you can start investing with as little as $100. If you’re wondering where to begin, here are some of my favorite picks:
- Bitcoin (BTC) – With a market cap of over $183 billion, Bitcoin is the most widely used cryptocurrency today and has been around since January 2009. It’s also known for being one of the most stable coins in terms of price fluctuations.
- Ethereum (ETH) – This platform allows users to create their own decentralized apps using smart contracts on top of its blockchain network—this makes it possible for developers who aren’t familiar with coding languages like Solidity or Go-lang to create smart applications without having any prior knowledge in programming whatsoever! Ethereum also has its own token called Ether which is used for payments within the system which helps keep things running smoothly throughout all corners whether buying goods services done online or offline even offline shops accept this payment method through mobile wallets like Metamask app available on Android iOS devices across major platforms including Windows MacOS Linux etc.. You can purchase ETH tokens directly from exchanges such as Coinbase Kraken Bitstamp HitBTC Poloniex CEX/IO KuCoin EXMO CoinDeal Cryptopia Bibox Binance Mercatox Gate BlockCDN etc…
- Ripple – A payment network similar to SWIFT, but with faster transaction times and lower fees. This is one of my favorites from an investment perspective because it has been incredibly stable despite fluctuations in other currencies’ values; however, it’s not really worth using as money unless all you care about is profits! If everyday purchases aren’t your thing then Ripple isn’t going anywhere anytime soon so just hold onto those coins if possible
Other cryptocurrencies worth mentioning include Litecoin/LTC which aims at being silver compared to Bitcoin being gold (yes this analogy does work perfectly well!). Then there are EOS/EOSIO which aims at being Ethereum 2.0 so don’t worry about losing money on that one either 😉 Last but not least there’s Cardano/ADA which aims at solving many problems related to crypto mining including those from Bitmain who owns Antminer hardware manufacturing company among others due
Metamask app available on Android iOS devices across major platforms including Windows MacOS Linux etc.. You can purchase ETH tokens directly from exchanges such as Coinbase Kraken Bitstamp HitBTC Poloniex CEX/IO KuCoin EXMO CoinDeal Cryptopia Bibox Binance Mercatox Gate BlockCDN etc… Ethereum is also a platform that hosts a wide variety of decentralized applications (dApps) which are built by other developers who may not be as experienced in coding languages like Solidity or Go-lang. This makes it possible for them to create these smart apps without having any prior knowledge in programming whatsoever!
What are your thoughts? What are you investing in? Let us know in the comments
Have you ever invested in crypto? Do you have any thoughts about how to improve your crypto experience or invest more wisely? Let us know in the comments!