Cryptocurrency mining: a basic guide to where to start mining

In mining you can find a source of passive income in dollars, taking into account that the returns we get in the crypto we mine. Step by step how to mine and what is needed.

The exponential growth of cryptocurrencies in recent years followed by the low electricity costs in our country, compared to the rest of the world, have made mining profitable and many people have been interested in participating in this activity that adds new participants every day. But with so much data at our fingertips, many users, mainly the less experienced ones, may not know where to start.

The simplest (but not necessarily the most profitable) way is to pay a company to add mining plates to your existing infrastructure. In that case the management and maintenance of the miner is completely in the hands of the contracted company and, having previously agreed on the percentages, the revenues are divided between both parties.

On the other hand, there is a more profitable way to engage in this activity, which is by assembling your own rigs (this is the name given to the set of components assembled to mine cryptocurrencies).

Although it is a task that may seem complex, with information and a knowledge base, users and investors can (and do) build their own rigs.

The necessary components are basically the same as for a desktop computer. The difference is that one or more video cards are used and no cabinet is used. The list of devices to be used is thus composed as follows:

Rig structure (where all components will be assembled).
Motherboard (main board where all devices will be connected).
Processor + RAM memory (basic devices in any PC).
Power supply (it will provide electric current to all devices).
Pendrive/Hard disk (the mining system will be installed here).
Risers (adapters that allow connecting video boards to the motherboard).
Video boards: They will be in charge of performing the mining work.

Once the components are assembled, they need to be configured together with a wallet to which the mined cryptos will be sent. They will be constantly generating income as long as they are turned on and connected to the internet. All this applies to the mining of cryptocurrencies such as Ethereum, Ravencoin, Ethereum Classic, among others.

Bitcoin mining requires dedicated devices specifically for that purpose called ASICs which are much noisier than conventional video boards and consume more power. They are already assembled and it is only necessary to configure them.

It is worth mentioning that for these options presented there are multiple variants such as companies that sell the rig assembled ready to connect in our home, companies to which we can take our rigs and offer housing service (hosting), etc..

Regardless of the alternative used, a source of passive income in dollars can be found in mining, taking into account that the returns are obtained in the crypto we mine and can be sold at the price of the day.

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