This is the article that describes the 2nd step 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 1st article, click here.
So, if you are on this page, it means that you are seriously interested in cryptocurrency mining. We saw in the first article that the very first step concerned profitability. Before you start, you must be sure that you have found the right cryptocurrency to mine. The one that will be profitable in the long term and the short term as possible.
So there you have it. I am writing this second article assuming that you have found the crypto of your choice. Now, it is time to equip yourself with the right equipment to mine your cryptocurrency. That said, I had already written an article to find out the best bitcoin ASIC miners. But, if you want to mine something other than bitcoins, 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 families of equipment for mining cryptocurrencies today. A GPU is actually a Graphic card which will solve the algorithm. When I say graphics card, you understand better why many gamers (who have computers with good graphics cards) have gotten into cryptocurrency mining. Let's 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.
Additionally, mount a mining rig with GPUs require a certain technicality. In my personal case and for the less geeky among you, I recommend minors. Also, be aware that miners are more efficient in general but also more expensive.
ASIC miners : Specialized machines for BTC mining
ASIC miners likeAntminer from Bitmain for example, are computers and equipment specialized in bitcoin mining. The most famous company that manufactures the most reputable ASICs remains Bitmain.
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.
Likewise, I remind you that you can also find golden opportunities on Amazon or Ebay because many people decide to give it a try and give up after mining for just a few days. But, you know it.
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! still and always whatomine! Yes, that’s for example what I do. you have to click on the “Miner” page of the site to land on this fabulous page which 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 look within your means and the profitable crypto (see the article which crypto to mine in 2019) of your choice. Below I give you the best stores to buy cryptocurrency mining devices.
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.
Please note that there are also complete mining kits sold and all you have to do is assemble and connect the parts. In the same genre, we find plug-and-play ready-to-use 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, the return on investment (RSI) and energy efficiency are the two main factors to consider when choosing your mahine. How much does the device cost? What is the hashing power? How much will it cost you in terms of electricity? Don't forget to go to Whattomine once again to find out the profitability of your mining.
Once you have the right equipment (graphics cards or ASIC) and you are ready to mine cryptocurrencies, then you can move on to the third step, which is essential to start generating 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 or any other article on zonebitcoin. This is information of which you are the sole judge and master. Be responsible with your investments and only invest as much as you are willing to lose.
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