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Mining is one of the many ways users and enthusiasts of the crypto market can acquire their coins in order to generate profit at any point in time. However in contrary to “hodling” or trading, mining requires a big initial investment, it is time-consuming and of course a high level of technical expertise. Despite the great results that come with mining, it wasn’t something that was achievable to everyone as a lot of different variables to take into consideration when starting to mine independently:
- Electricity Rate: Mining is a very demanding process for the machines/nodes that are part of the network causing them to drain a lot of electricity, leaving some miners in countries with expensive electricity costs with high running costs.
- Power consumption: When doing research on buying the necessary machines to start mining you also need to consider the amount of power input the machine might need which might either make you get to the breaking point earlier or even cause your operation to fail.
- Network difficulty: Depending on the coin that you will start to mine you also have to take into consideration the amount of difficulty the network poses to miners which might require the purchase of high powered and high priced machines such as Asics in order to reach the minimum breaking point in order to make your mining operation profitable. Also the higher the difficulty, the harder it is to produce decent amounts of coins which might lead to not being able to cover your costs.
- Timeframe: when calculating if Bitcoin mining is profitable you’ll have to define a time frame to relate to. Since the more time you mine, the more Bitcoins you’ll earn.
- Conversion rate: The exchange rate of the coin that you are producing is also immensely important. If you’re mining just to accumulate coins then you won’t need to worry, however, if you intend to sell this coins at a higher price, this is another factor that must be strongly considered.
All of these factors combined with additional fees and commissions from pools and buying your machines make the initial investment even bigger whilst still requiring the right amount of expertise to initiate everything in the first place. The huge amount of noise pollution, finding the right cooling systems and as previously mentioned electricity make this operation a huge struggle for the average Joe.
One company that did see a gap in the market was Miner Booking.
Their two main points were security and flexibility, providing their clients with the opportunity to choose their own terms in regards to their mining contract such as duration of the contract and machines, with a minimum contract duration of 10 days all the way up to the maximum of a year. A popular feature of Miner Booking is their priority to transfer the produced amount of coins every 24 hours to their client’s e-wallet, providing additional security and transparency to the service.
Miner Booking is there to make the process easier faster and more transparent where everything clients need to do is complete the one-time fee payment and then relax and enjoy their freshly mined coins which are gonna be transferred to their account every 24 hours.
The company will take care to provide all the right conditions for the machines to work at top performance levels and of course give out the best price to value interrelation. Miner Booking offers different options in regards to the coins that our clients can mine starting from Bitcoin and then down to Bitcoin Cash, Litecoin and Dash with the addition of other popular and profitable coins in the near future.
Disclaimer: The opinions expressed in this article do not represent the views of NewsBTC or any of its team members. NewsBTC is neither responsible nor liable for the accuracy of any of the information supplied in Sponsored Stories/Press Releases such as this one.
