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Learn how to mine your own bitcoin or crypto-current and start earning extra income today! This site is intended to not only explain bitcoin, litecoin and other crypto-currencies, but will also help you get started and enter the world of mining!
Check out the Step by Step section to get going…
1) Get a bitcoin wallet – wallets are used to store your bitcoins. NEVER forget your password and don’t make it easy to guess! If you loose it, your coins are gone forever!
2) Establish an account on one of the mining sites – I currently use two different sites for my cloud mining to be a little diversified. They each have their pros and cons.
3) Decide your investment level and start to purchase mining shares
4) Go at it alone or Monitor “Recent Actions” on this site to know what I have done – I monitor a lot of sites and forums and hedge on new coins coming to market or new mining companies with better ROIs etc. To date this is not a passive industry – you must be somewhat active and make adjustments or change where your mining from time to time. Some of the sites are “gamefied”which means you have to visit 1,2 maybe 5 times a day to maximize income by clicking buttons to boost your power etc… It use to be a lot of fun but now I find it pretty annoying, and hard to keep up with… but adding 30% to your daily profit by clicking button? why not…
Some say that mining it dead or bitcoin is too hard and confusing… I am here to tell you that that is absolutely not true. In fact it is very simple and cost effective to start with a small investment and by re-investing earnings you can grow your income faster than you think.
What makes mining work today and why do some say it’s dead, not profitable and no one makes money on bitcoin? Simple, ignorance. It is true however, that the old days of hardware mining in your home are mostly behind us.
It is simply cost prohibitive to mine in that way nowadays. It is also true that investing in bitcoins directly (think Forex or buying gold) is risky. A) because just like the stock market you have to catch things at the right time B) bitcoin and all crypto-currencies are very volatile and are venerable to “big fish” influences – meaning some can sell 10’s of thousands of bitcoins and move the price.
YOU SHOULD TREAT THIS INVESTMENT AS HIGH-RISK! Do not put money in that you cannot afford to loose. There has very high potential for upside growth – many predict bitcoin reach a valuation of $10,000 USD in the next 12-18 months. I am not sure if it will go that high or not (pretty sure it will not). But I will say that adoption is growing and commerce is really starting to pick up pace from major retailers.
So, if you have a few dollars to spare then I recommend you give cloud mining a try and see what it can turn into!
I started with a $500 investment (in hardware) took the BTC earnings and reinvested them… So, $500 was the capital I had at risk. Today, I generate ~$2,000 per week in bitcoin (BTC). I am choosing to continue to reinvest 33% of those earnings to grow the stream even larger but the point is, in about an 18month time period I have achieved a 70X return on my initial investment! That includes loosing money in the early days to companies going out of business and taking your BTC with them, as well as hardware that was shipped so late that the earnings became minuscule killing your ROI. But, there were also ones that returned 100% ROI in the hardware and then I sold the hardware for nearly the same price I paid for it ~180% return – those were not common but did cover my losses.