The first thing you should consider before mining — but especially before putting down some cash to build a mining rig — is whether or not you actually want to do this as a hobby. There are lots of things about mining that people don’t realize until after they’ve already ordered $2,000 worth in parts.
Among those things:
- Fire risk
- Electricity drain
- GPU wear
Building a mining rig is going to mean spending the time finding GPUs (if the market is in high demand), building a rig, maintaining a rig, repairing a rig, dealing with the noise and heat from a rig, an increase in your electric bill, and annoying software and drivers, not to mention GPU firmware which work differently for every hardware build and require tweaking for best performance.
If you’re genuinely interested, though, don’t let the reality of this discourage you. Our advice is generally this: Don’t just do it for the money. For many, building mining rigs and maintaining them is an enjoyable hobby and one that just happens to pay off in cryptocurrency that might be worth more later. For those people, long term, it’s likely going to be a profitable and fun venture.
If you’re mostly just interested in investing in crypto but don’t have time to dedicate to mining yourself, you can always buy crypto from Coinbase. This is also a good option for those that have landed on this page with not much prior knowledge about cryptocurrency. For those people, I would recommend heading over to YouTube and watching a bunch of videos to learn more about the technology first.
You can head to the howtomine.co homepage if you want to read more before you dive in (we really recommend you do some research first!). And if you decide you really want to get started mining, feel free to head over and learn about the parts you need to run your own rig. If you spend the time and effort to learn how to enjoy mining for fun, then yes, it’s almost certainly going to be worth it.