Cryptocurrency Mining VS Trading with Bots

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Avatar for Luis2020Diaz
3 years ago
Topics: Cryptocurrency

Many people may have asked this question: What is more profitable?, We have to take into consideration some important aspects and what the risks may be when people think about starting in this fluctuating business.

First, let's choose the simplest option which is Trading with Bots. You can start with a capital of $ 300 or $ 500 in cryptocurrencies and you must pay a membership that the page can charge for carrying out the operations. Many Bots for trading, from those are paid, which we will talk about in this article, to those that are free.

One thing that you should keep in mind is that the money that you are going to use to start this business must be money that you are willing to lose and that you will not need in the short term. The world of cryptocurrencies is very volatile and more so when you carry out this type of activity.

When you have already chosen the company you want to work with and have carried out a study of it previously, you can start by choosing the Exchange and then give the company the permissions so that it can make purchases and sales according to the pair that you have already chosen before to trade. You can start with a capital of $ 300 or $ 500 dollars in cryptocurrencies, you divide that amount 50% and 50%, you finish the Bot programs and you only start to see how he makes purchases and sales with which you will begin to obtain profits.

 

Things to keep in mind:

The pair with which you are going to work must move a large volume of the market in 24 hours and that they be cryptocurrencies that can recover their value despite having strong falls in their price.

The commissions that the Exchange can charge you for each operation must be low or that in some opportunities for trading with your cryptocurrency they do not charge you or what they charge you is very low.

Be very aware of market fluctuations, check once or twice a day how operations are going.

Wait at least a month to see how much profit it made and how profitable it is, after subtracting the operating expenses charged by the company and the Exchange commissions for the operations.

 

Things you need to do this:

A laptop or Smartphone.

A capital of $ 300 or $ 500 dollars in cryptocurrencies.

An Exchange and a company that provides the Trading Bot service.

Now we go with the most complicated option, cryptocurrency mining. Here we are going to deal with two options, the first mining with GPU and the second with mining equipment such as Antminers. Currently, the GPUs that have 4 GB are obsolete to perform this type of work, so you have to look for those that have 8, 12, 16, and 24 GB. These GPUs have gone up a lot in price because they are in high demand to build mining RIGs. A mining RIG can cost roughly $ 5,000 to $ 10,000 depending on the amount of GPU you want to put in it and the cryptocurrency you are mining.

GPUs that have more GB, such as the Nvidia TITAN RTX 3090, have 24 GB AND GDDR 6; this graphics card can get approximately $ 13.50 dollars in Ethereum per day, which per month would be $ 405. The only problem is its price of $ 3,990, per graphics card. The good thing about this GPU is that it has the power of several graphics cards combined into one. They don't make as much noise as an Antminer machine. You should always take into account the electricity consumption what you can afford to pay.

Antminer mining machines are already prepared to carry out this work, although less expensive than a mining RIG with GPU, they make too much noise so it is essential to have adequate space to work without causing inconvenience to the people who they are in their environment. Its price is lower and the profitability is higher than that of mining RIGs. The price ranges from $ 300 to $ 9,000, depending on the model and the cryptocurrency you want to mine. You should always take into account the electricity consumption what you can afford to pay.

 

Things you need for this:

Mining RIG:

8, 12, 16, and 24 GB GPU, Motherboard, Processor (can be a single one), 100 or 250 GB HDD hard drive, 8, 12 or 16 GB RAM, Power supply, One adapter current for GPU "risers" (PCI-E 1x version 006), a wooden or aluminum frame and the mining software.

 Antminer:

Depending on the capital that you have and the cryptocurrency, you are going to mine. Other thing is the space for the installation of the equipment.

 

You can answer this question in the comments: For you which is more profitable cryptocurrency mining or Bot trading?

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Avatar for Luis2020Diaz
3 years ago
Topics: Cryptocurrency

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