Mining Altcoins profitability for newbie

[brackhap]

Hello everybody

I'm newbie in altcoins, and I want to start mining. Here is my questions:

1- Which cryptocurrency is most profitable for new miners with small/medium budget?
2- What's best: cloud mining or traditional mining (asics / GPU)?
3- What's the best cloud mining service for the cryptocurrency you choosed as answer for the 1st question?
4- What's the best hardware to mine this cryptocurrency?

Regards

[1715253077]

1715253077

[1715253077]

1715253077

[1715253077]

1715253077

[1715253077]

1715253077

[1715253077]

1715253077

[1715253077]

1715253077

[pedrog]

Here you go:

http://www.coinwarz.com/cryptocurrency

If you don't have access to cheap hardware and very cheap electricity and cheap facilities and cheap maintenance and all that stuff you will lose some of your money.

If you gamble in the 'cloud mining' business you will probably lose all your money.

There's no profitable mining for newbies, mining is a very competitive business.

[Digitalbitcoin]

Mining of altcoin is quite good idea for getting good ROI with mining cryptocurrency.

But mining is depend on many factors as below :

1 ) Which scrypt you use
2 ) What currency you mine
3 ) What is difficulty level
4 ) Block size
5 ) Block height
6 ) Block Reward
7 ) Time to solve one block
8 ) Increase % in next difficulty level


All things makes impact on mining.

Also you have to know which currency to mine as per current market cap, price, exchange rate and volatility.

[Digitalbitcoin]

Mining of altcoin is quite good idea for getting good ROI with mining cryptocurrency.

But mining is depend on many factors as below :

1 ) Which scrypt you use
2 ) What currency you mine
3 ) What is difficulty level
4 ) Block size
5 ) Block height
6 ) Block Reward
7 ) Time to solve one block
8 ) Increase % in next difficulty level


All things makes impact on mining.

Also you have to know which currency to mine as per current market cap, price, exchange rate and volatility.

As already there are some sources where anyone can find which currency mining is profitable at https://www.whattomine.com/ here on site we can get information of all currencies with their actual price and also make calculations of ROI.

[brackhap]

Thank you for your answers.

I know that there is many factors that influences the mining profitability: hardware & electrecity cost, hashrate, scrypt, difficulty...

That's why I'm seeking advises of experts in this field, can you please suggest me an altcoin to mine, taking into account all the factors you mentioned above?

Regards

[geopolisch]

As You asked for suggestion of good altcoins to mine there are few:

1: Lisk
2: Waves
3: Etharium
4: Litecoin

as a newbie I sugesst you to start with staking. staking is also a farm of mining you can earn some interest daily or weekly or may be monthly by staking a coin in your wallet. you need to buy some coins and open the wallet and keep it open.
some good alt for staking:
1: Crypto Bullion (CBX)
2: CryptoJack (CJ)
cryptojack is a brand new coin and it is also very cheap. so you can easily buy some coins to stake in your wallet.

[brackhap]

As You asked for suggestion of good altcoins to mine there are few:

1: Lisk
2: Waves
3: Etharium
4: Litecoin

as a newbie I sugesst you to start with staking. staking is also a farm of mining you can earn some interest daily or weekly or may be monthly by staking a coin in your wallet. you need to buy some coins and open the wallet and keep it open.
some good alt for staking:
1: Crypto Bullion (CBX)
2: CryptoJack (CJ)
cryptojack is a brand new coin and it is also very cheap. so you can easily buy some coins to stake in your wallet.

Thank you geopolisch

Taking that into consideration, what hardware do you suggest? I want something that will allow me mine different currencies (If I decide to switch between them)

[tsaroz]

With larger companies with dedicated hardware mining all profitable cryptocurrencies, individuals can still do it for the sake of info but is not profitable or worth the effort even if you have free electricity. Constructing a mining farm can be somewhat profitable.