Hello
I am currently new in cryptocurrency, thinking about investing in it or mining in future. My question is as follows:
If, in most cases, mining/investing in cryptocurrency is profitable, why does not everyone do it?
Can't understand myself, because of that I feel suspicious about mining.
Any replies are welcome.
Thanks
Mining is not always profitable because of the costs of equipment and electricity. I don’t mine coins myself but you really have to get the right equipment to do it efficiently.
Investing in cryptocurrencies is high risk. Bitcoin may not be as high risk as it used to be, but it has now become very expensive. Altcoins are even more risky because they aren’t as well known and therefore are less likely to succeed depending on which ones you invest in.
Another read why more people don’t invest is because not many people really understand cryptocurrencies or how to obtain them.