Is it too late to start mining?
A common question asks whether or not it is too late to start mining virtual currency. The short answer: It’s not. The long answer: Right now is better than ever!
Mining virtual currency is performed using sophisticated computers that solve complex computational math equations. In a sense, as the miner, you are getting paid for auditing transactions in order to prevent “double-spending” by crypto users. Therefore, as long as virtual currency is being circulated, your machine will be performing audits and you will be receiving the crypto currency you’ve selected as a reward. Mining is not a trend that has past or has become less viable, in fact, it’s the exact opposite!
‘Why is today better than ever before to get into mining?’ Well, crypto experts say that with more miners going offline due to China’s restrictions, other miners’ share of the network will increase, potentially making mining much more lucrative. “As more hashrate falls off the network, difficulty will adjust downwards, and the hashrate that remains active on the network will receive more for their proportional share of the mining rewards,” Kevin Zhang, vice president of crypto mining firm Foundry. More room in the market means greater return on investment for those looking to capitalize on this opportunity. Your hashrate is becoming more valuable simply based on the principles of supply and demand- the demand for hashrates is rising while a large supply from China has been restricted! Not to mention the constant spiking of crypto currency purchases and circulation.
‘Isn’t mining just a past trend and simply buying/selling crypto currencies more profitable?’ Buying and selling crypto may appear simpler, but with that ease comes higher risks and requires immense diligence and patience on your behalf. However, when mining efficiently you will end up with more crypto in your wallet than if you practice hodling. Not to mention the time and patience you save by no longer spreading your investment between several different bits of crypto currencies. Ultimately, buying and selling crypto would have been more lucrative in the past as a result of the immense increase over the years. Now, efficient mining is by far the more lucrative option. Contact a Federal Miner representative and ask about how we can maximize your efficiency by hosting your investment at one of our facilities.