Cryptocurrencies - mining or buying?
"Shall I mine or perhaps buy coins?" - Many of you have probably asked yourself that question.
In the difficult times on the subject of cryptocurrency world, where most were hoping that the price would stabilize and all the necessary actions on this theme will be taken. The course fluctuation was not long in coming and brought most users and enthusiasts new ideas, some would go so far that they were almost desperate, but these are fully justified. Most users and enthusiasts have come up with new ideas, where some of them have gone so far that they were almost desperate, and these are completely justified. You can lose track of the course very quickly and suddenly there is an important and quite reasonable question there: Should I mine the coins myself or rather buy and wait?
We have devoted ourselves to this question and have tracked the answer.
One thing we can tell you in advance, if you have 100,000 EUR on the side and you do NOT need this money to live, then a Bitcoin or Ethereum purchase would be the most meaningful thing you could do to double or even triple your fortune. Now, not every person has such a large sum, which he can invest. Let's devote ourselves to the smaller creation, which is ultimately in this text.
First of all, you have to become aware of the important aspects of cryptocurrencies and their mining in order to understand the background. The coins are not supposed to give people a huge and fast empire, that time has expired and no one is sure if it will ever return. But that is the decisive factor when talking about this subject.
On the one hand, there are people who only see cryptocurrencies as a money machine, and they do not care much about the purpose and meaning of them. No affection or sensitivity, little awareness of the importance of cryptocurrencies, no future orientation in the crypto world can be found in such people.
On the other hand, there is the passionate lover of Blockchain, one who has understood the purpose behind it, who does not look at now or tomorrow, but in the future, who really wants to live out the benefits of cryptocurrencies and who does not want quick and passing profits.
Now we have to ask ourselves what kind of person we consider ourselves for. Do we want to support the economy and commerce of Blockchain or not? Would you like to contribute to the standardization of cryptocurrencies or not? We could question a lot at this point. However, the fact is, the mining operators are sustainably supporting the economy. Those who buy the coins and wait until a certain time to sell them for a single profit do not count.
Remember that these people buy their coins on stock exchanges and the stock exchanges have received the same coins from mining revenues, so without mining also means no trading or buying and selling, as the miners have established themselves in the core of the Blockchain system.
The manufacture or production of cryptocurrencies is a long-lasting process that will never become extinct. This has several reasons, one major reason being that the miners are involved in each transaction. In other words, if everyone stops mining, you cannot send your coins. This reason shows how important the machines are in the process and from this the sustainability can be deduced. Mining the last Bitcoin does not mean that mining will stop as well. On the contrary, the miners are then used to the right, in order, as already mentioned above, to carry out a transfer from one wallet to another. The reward for this will be much smaller than it is now, but by solving the complicated algorithms or computational issues, it will still be possible to earn coins and trade them into Fiat currencies.
The word "hodl" (hold) indicates the retention of coins. The most lucrative is to mine and store the coins you want until there is the right time to sell them. Monthly, mining provides a source of income that will give you a secure return, regardless of the price fluctuations of the cryptocurrencies. The difficulty level plays a more important role than the current market price.
CONCLUSION: Mining is a very lucrative business at the time, with which a very good profit can be made. The hardware is yours, you get coins or the equivalent amount in Fiat currency every month, which is a passive income and if you do not feel like mining, you can sell the hardware and get back your invested money.