Is crypto mining profitable?

[drabe]

What would be the best setup to get started? I just wanted to know from anyone that has experience in this area.

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[Truna]

No, bitcoin is not profitable in many countries like ( India )until you get some subsidies from government.

[SteinsGate]

Based on how I have read information regarding crypto currency mining, you need to invest for high end units to mine crypto. You have to risk investing to get high mining rate and then recover what capital you had used for your setup.

[UAE Seasider]

I think you will find the Bitcoin mining sector is already heavily saturated by some very large players, much better to start off trying to mine some of the altcoins where you will probably get a better cost per time and electricity consumed.

[Dexion]

if you can to manage it and you understand the mining strategy, then you will benefit greatly, especially if you have mining tools that support, the better the miner tool, the greater your income. even from some interviews with miners, his earnings reached $ 20,000 in a month. but if you are a beginner, then you better learn first about mining, then start with small mining.

[tahmad]

It's profitable if you have good calculation about your rigs and the coin you are mine.
But, if you want to mining bitcoin, I think it's not profitable, because it have big diff.

[AleksNewman]

What would be the best setup to get started? I just wanted to know from anyone that has experience in this area.

The short answer would be “It depends on how much you’re willing to spend”. Each person asking himself this will get a slightly different answer since Bitcoin Mining profitability depends on many different factors.

[Eternu]

Mining bitcoin this days doesn't pay of unless you have really expensive rig, and all that is because difficulty is so high for mining bitcoin. But on the other hand mining altcoins could be profitable, if you chose good coin.
As far as rig is concerned, it all depends on how much money you have or are willing to spend. You can go and buy some ASIC miners (which i never used before), they are good from what i know but really expensive, at least from my point of view. On the other hand you can go for GPU mining, which could be cheaper and it could provide some earnings. To find out more about this topic, go to mining thread and you will find everything you need to know there. Hope this helped a bit.

[Haunebu]

I feel that this is a bad time to get into the mining aspect of crypto. Several years back, mining crypto was the primary way to earn coins and huge profits on a regular basis thanks to the low difficulty and less competition giving you more prospects of earning many coins, but the game has changed since then. The introduction of the ASIC miners has changed the game completely when it comes to bitcoin and several popular altcoin mining prospects. You need to do a lot of research(Electricity cost, initial setup cost etc) and decide which coin you wish to mine and see if it is profitable for you or not. Research is the key here.

[ljtronics1]

No, buying Bitcoin is always cheaper if you understand what execution risk is. If not, google it.

[Herbert2020]

try googling "mining calculator". tools such as this one: https://www.coinwarz.com/cryptocurrency are helpful with determining how much you are capable of earning through mining different cryptocurrencies.

the bottom line is, there is an initial investment for buying equipment (either ASIC or even simply GPUs and all the rest required such as motherboard, risers, power supply,...) and then there is the question of cost of the operation which is practically the electricity cost. and the cooling of it all which you may have trouble with if you are living in a hot area and it can cost more electricity.

[dimastegar]

For the short term, maybe the capital spent to buy mining tools still can not be covered. But for the long term, I believe the capital used to buy mining tools will be covered and we will benefit from mining.

[Markzuckertion]

What would be the best setup to get started? I just wanted to know from anyone that has experience in this area.

But you need to know how to do it in the right way. Cryptocurrency mining is profitable but you should concern on hash power. You need high spec of mining tools to gain bigger coin.

[armansolis593]

What would be the best setup to get started?

Depending on what kind of crypto currency are you going to mine. If you want to mine bitcoin then you will need to have a huge amount of capital for the ASIC equipment and also for the monthly electric bill which cost a lot.

If you were to mine altcoin then i would suggest to you that you mine monero, ethereum and most coins who in the top 10 of coinmarketcap. They are much more easy to mine compared to bitcoin and the cost for mining rig will also be lesser.

Profit varies on what coin you choose to mine and the amount of money you will release as a capital.

[Haley craft]

In my opinion, digging BTC and other altcoins now may not be a good choice.
Because there are some southeast Asian countries have begun to limit mining such as started digging BTC and altcoin，Begin to digging needs to pay a certain cost to purchase these robot, and when you gain profits could's already half a year later.
Take an example: one of my friends took part in last year's mining BTC, in two months before he issued a sigh with emotion, if last  buy altcoin or ICO investment mining machine, so now returns may be ten times or more.

[Enkel]

I quess that's profitable but not with every crypto, I know that some dash miners are disappointed, the equipment's price was so high, but mining is not profitable for today. Perhaps with the time it will change but now the it is paid off very slowly

[StochasticOrder]

The rate of return will be significantly higher for most people if they flat out invest and purchase crypto instead of mining. A very select few can make it worth it due to their equipment, location, and expertise. However, the average person would need months to make their rigs profitable, and in those months of time BTC, ETH, etc will likely be up by at the very least double digits.

[legenduim]

What would be the best setup to get started? I just wanted to know from anyone that has experience in this area.

For those who have mining equipment already it can be profitable. If you do not have it you will have great expences before you start to get profit.

[zolfa]

owh .very profitable, do you know that there miners capable of generating advantage $ 25000 in one month? but I see mining only suitable for income long term. and for income short-term may trading better.

[mahboob123]

crypto mining is more profitable and earn more and and more bitcoins