Home Mining cryptocurrencies with the right equipment (Part 2)

Mining cryptocurrencies with the right equipment (Part 2)

Bitcoin Mining

mine cryptocurrencies and buy mining devices

5 min read

This article describes step 2 of the "How to Mine Cryptocurrencies" series. (You can see all the steps at the end of this article. If you haven't read the first article, click here .)

So, if you're on this page, it's because you're seriously interested in cryptocurrency mining. We saw in the first article that the very first step concerns profitability . Indeed, before you start, you must be sure you've found the right cryptocurrency to mine—one that will be as profitable as possible in the long term and in the short term.

So there you have it. I'm writing this second article assuming you've found the cryptocurrency of your choice. Now, it's time to equip yourself with the right gear to mine your cryptocurrency. That said, I've already written an article about the best Bitcoin ASIC miners . But if you want to mine something other than Bitcoin, then this article will help you make the right choice.

Specific equipment for mining cryptocurrencies:

First of all, I imagine you know that you cannot mine bitcoin with a simple computer at home. You will certainly lose money and above all you will damage your computer. As you already know, you need suitable equipment to mine cryptocurrencies.

First of all, know that the machines for mining cryptocurrencies depend on the cryptocurrency you want to mine. For example, to mine bitcoin, you will need to have an ASIC miner.

I quickly remind you here that the same algorithm can allow you to mine several types of cryptocurrencies linked to this same algorithm.

Even more, there are several suppliers of equipment for mining cryptocurrencies. Each machine is programmed in some way to mine a specific type of algorithm. For example, the bitcoin algorithm is called SHA256.

Likewise, with this or that machine, you will not be able to mine what you want. This is what we must keep in mind.

? There are two main families for mining cryptocurrencies: ASICs and GPUs

In fact, GPUs and ASICs are the main types of equipment used for cryptocurrency mining today. A GPU is essentially a graphics card that solves the algorithm. When I say graphics card, you can better understand why many gamers (who have computers with good graphics cards) have gotten into cryptocurrency mining. Let's just say they already had the necessary equipment.

You already know the difference between GPUs and Asics. You see that GPUs have more flexible functionality. You can do other things with it like play games. However, ASICs are only used for that: mining cryptocurrencies.

Furthermore, setting up a mining rig with GPUs requires a certain level of technical expertise. Personally, and for those of you less tech-savvy, I recommend using miners. Also, be aware that miners are generally more efficient but also more expensive.

ASIC miners : Specialized machines for BTC mining

ASIC miners, such as the Bitmain Antminer , are computers and equipment specifically designed for mining Bitcoin. Bitmain remains the best-known company that manufactures the most reputable ASICs .

Don't forget to go to whattomine to calculate the efficiency of each machine you choose. It will cost between 300 and 1600 euros (depending on the power and novelty) of the machine. However, it remains a very solid brand with very reputable products. You also often have to buy the power supply additionally. Don't forget it because this is what will allow you to simply power up your mining machine.

Similarly, I remind you that you can also find great deals on Amazon or eBay because many people decide to try it and give up after mining for only a few days. But, you know that.

The more we advance in time, the more difficult the mining of bitcoin and other cryptocurrencies becomes because many people are getting into it too. In fact, machines quickly become obsolete or less powerful. So, be sure to take the time to carefully consider the hashing power of your mining equipment.

Choose a minor easily:

Yes! Whatomine again and again ! Yes, that's what I do, for example. You have to click on the "Miner" page of the site to land on this fabulous page that summarizes everything.

You see? It's quite simple to get out of it. That is to say that on this page, you have all the miners ranked according to their performance.

There, immediately, we see that it is the Obelisk GRN1 Immersion miner which allows you to make good profits in cryptocurrency mining. Also, the table gives us the miner's flagship cryptocurrency. In this case, we see that it is the GRIN crypt which wins everything. Sure, it's gorgeous, but this miner costs….16,000 dollars!

So, it's up to you to choose based on your budget and the profitable cryptocurrency (see the article "Which Crypto to Mine in 2019") of your choice. Below, I've listed the best shops to buy cryptocurrency mining equipment.

Where to buy equipment for mining cryptocurrencies:

In this section, I just want to make it easier for you now that you know what to look for. There are actually 4 stores that I recommend if you want to buy devices and equipment for mining cryptocurrencies.

The online store : MiningWholeSale (delivery in 1 week and decreasing price; Very reputable and well-known store (my favorite) with attractive prices).
You also have Amazon to a lesser extent to provide you with mining graphics cards.

Note that complete mining kits are also available for purchase; all you have to do is assemble and connect the components. Similarly, there are ready-to-use, plug-and-play rigs.

Conclusion for mining cryptocurrencies

What you need to remember here is that to choose your machine to mine the cryptocurrency of your choice, you must look at 2 factors.

Yes, return on investment (ROI) and energy efficiency are the two main factors to consider when choosing your mining rig. How much does the rig cost? What is its hash rate? How much will it cost you in electricity? Don't forget to check Whattomine again to see how profitable your mining operation will be.

Once you have the right equipment ( graphics cards or ASICs) and are ready to start mining cryptocurrencies, then you can move on to the third step, crucial for starting to generate money: joining a pool.

Here are all the chapters of this guide to learn how to mine cryptocurrencies:

Step 1/ find the profitable cryptocurrency to mine.
Step 2/Find the right equipment to mine cryptos (this article on this page 😉
Step 3/ Find the profitable mining pool.

Note: No financial advice is given in this article or any other article on ZoneBitcoin . This information is entirely your own judgment. Be responsible for your investments and only invest an amount you are prepared to lose.

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