Bitcoin Forum

Which coin i start mining, is it profitable, my budget is only 1000$.
I just want to take a start.   

The only answer here is Bitcoin.

If you want to ask about other coins, you must do it in the 'other' coin area, not here.

You can buy a GPU like 5600XT AMD or buy Nvidia card like 3060 and start mining Ethereum, you can use nicehash software which will pay you in BTC every day unless you don't want BTC, you can use NBminer or phoenix miner and find a good Ethereum pool like Nanopool and start getting paid

You can start with an rtx card, or a lby miner, you can also check stores with some budget friendly miners.
Best of luck

Your budget is to small, it will take you years to make anything

What should be the minimum budget to make a handsome profit on monthly basis?

Start with minimum of 4 GPUs, you can go for gtx1660ti or super and that wil give you a bit over 120MH, this hashrate will bring 16$ to 20$ to you every day

$1000 today is about nothing. You can buy 1 GPU and put it into your PC. 1660S, RX5600. If you have some interesting opportunities - 3060(ti) or RX5700. But the best way is just wait for dump and buy full rig.

The price of GPU is way overpriced right now. I also believe that it is better to wait for the next bear market before you build your right, or else you'll spend way too much just to get one or two 1660 TI.

Even the cheapest card cost more than $500.

He can also buy used 4GB cards to mine ERG, ETC, VTC, XHV and so on. 1000 is nothing? Lol not all dudes have thousands of dollars laying around and not all dudes must mine ETH, there are many good alternative and profitable coins out there.
I started with 2 GPU´s in 2017, now i have over 120 GPU´s running. So he have enough money to start and learn how mining and crypto works.

This is a very small amount, for such a price you cannot even buy 1 witdeocard.
Today is a great sale on the market, you better think about how to invest your thousand dollars correctly.
With a successful investment, you can make a profit of 200-300% by the end of the year if you don't buy shitcoins.

I agree, because you follow my concept, need more detail information if you provide please..

Even now 4GB GPUs are overpriced - i saw today them for $300. I think it is possible to buy them about $200. And they worked hard for 4 years. I think this can be a decision for experienced miner but nor for newbie. Better choice to buy 1 new middle GPU about 3060. It will be easy to sell or play games or mine any new coins.

It will be over soon, are you seeing the market right now? Bears ars slowly taking over the market and some are thinking there will be a recovery but the market will keep going down, it's time to grab some graphic cards at cheaper price, eBay will be flooded with cheap cards soon

It is possible. But yet, possible pump again. One thing that i inderstood for last 4-5 years - in cryptocurrencies you never know what will be tomorrow. And GPUs become cheap about a half a year after dump.

The higher the cost of GPUs the risky it is to invest on them, once market took an unexpected turn it's over because those GPUs won't bring you enough profits any more and cards you buy at 1000$ will be sold at 300$ again and remember that bear market always takes years? You will miss out big so I suggest you either find a way to buy GPUs for reasonable price or wait till bear market is here

My friend bought 5700XT $750 per each in January. I thought that its too expensive. Now he can just sell it to get x2 profit. I sold 1080ti 2 months ago $800 per each. For this time they could give about a half of this price and i can sell it right now the same price easily.  No one know when to buy or sell.

My friend you stayed so long i think you can wait more 2 weeks more. Looks like there will be clear after couples weeks later bear or bull continues. Right now it is 50/50 up or down. If you fine with loss then go ahead.

With your budget, I would suggest you to start mining with ETH. Because you won't be a able to afford an ASIC  but you can definitely buy two graphics cards (I am calculation in my local currency). Once the cards are ready, connect them with Nicehash miner and the miner itself will tell you the most profitable coin based on your configuration.

If you don't want to spend money on graphics cards, then start with Monero using your computer's CPU power. The demand of privacy coins will skyrocket in future.

Wait for bear market and buy three to four new graphic cards with that money, that's even if you've already own motherboard, risers and CPU if not you will be spending more

looks like a few more days then

What your asking is on "Whattomine" dot com website, it ranks daily the most profitable coins to  mine.


Thats the answer to your OP, its been ETH for the past year or more.

Now to address your budget, which is pathetic, and un-realistic.

Everything has its time, now is not. Six months ago I could buy an RTX-3070 for $500, and earn $10/day of Ethereum with that card. ( See you don't actually make any money in this game

Now that card is $1500, well over your budget. Now almost all GPU's on earth are un-available.

All GPU mining requires at least 6gb, but you need to buy more because right now ETH is at 4.6GB, and its growing, you don't want to be stuck with an obsolete drive.

Realistically the highest value mining with GPU is ETH, but your budget can't buy you a graphic card, there is none on the planet earth within your budget.

These days at the very least I would by a RTX-3060 with say 12gb, thats a long life, that card if you can find it is $1k, but your really need six to be in the game.

Just wait, all this shit will drop in price once ETH comes out with POS and mining is no longer profitable.

Beware also all the new RTX cards are crippled 'nerf'd' they say, its a real bad time to come into this 'game'

Its Monero? Little bit explain, Thanks

Mining Monero using CPU will give you some profit, but it will be much less comparing with GPU mining. Right now the best choice is to wait. Profit decreasing, but GPU prices decreasing much later - about 6-12 months.

You're in the worng forum. This is the Altcoin mining forum.

You also keep in mind about electricity consumption + Maintenance + monitoring time I don’t think so $16 to $20 is enough per day ? Am new in mining also if someone help with proper guidance with hardware and software will be highly appreciated thank you all of the members all replies are interesting and knowledgeable