Mining Methods |
Steps |
Advantages |
Disadvantages |
Individual Mining |
1)Purchase mining machines 2)Select mining pools 3)Connect the machines to the pools 4)Maintain miners at any time and detect the hashrate fluctuations |
The revenue is only related to the machines' cost and electricity fees. |
1)It requires that you have professional knowledge in detecting, analyzing and maintaining. 2)Address the mining noise issue. 3)Cheap electricity fee is needed. |
Hosted Mining |
1)Find a suitable mining farm administrator 2)Purchase machines and send them to administrators (or purchase from the mining farm administrators) 3)Pay electricity fees regularly |
It is convenient and electricity fee is only needed to pay monthly. |
1)The risk of the mining farm closure 2)The risk of integrity of the mining farm administrators 3)More maintenance fees and electricity fees compared to individual mining. |
Purchasing Hashrate Contracts |
1)Find a platform for buying suitable hashrate 2)Select the contract period and hashrate based on ROI and personal assets. |
It doesn't require professional knowledge. |
Lower profits compared to the first two methods |
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