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I need the basics!

  • Thread starter Thread starter AJH
  • Start date Start date

AJH

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I am new to the cryptocurrency world! I need the basics! Where would you point someone like me to learn the basics of mining Bitcoin? I doubt I'll be able to do it but I would love to learn how it's done! :)
 
The easiest way to get started with mining is by investing in cloud mining. You buy the hash rate and you earn based on your hash rates. Another method of mining is by joining a mining pool. Staring your own mining rig can be very complicated for newbies.
 
DigitalNomad said:
The easiest way to get started with mining is by investing in cloud mining. You buy the hash rate and you earn based on your hash rates. Another method of mining is by joining a mining pool. Staring your own mining rig can be very complicated for newbies.
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That is true, but you have to identify in which platforms you invest since there are many scams around cloud mining and very few are legitimate,. the minimum investment of a legitimate cloud mining platform I think is around $ 500, correct me if I am wrong or if there are cheaper plans than that.
 
riberet19 said:
That is true, but you have to identify in which platforms you invest since there are many scams around cloud mining and very few are legitimate,. the minimum investment of a legitimate cloud mining platform I think is around $ 500, correct me if I am wrong or if there are cheaper plans than that.
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I was scammed by a clod mining company in 2018, I lost $100 worth of BItcoin. Therefore, I understand the risk associated with cloud mining. It is really difficult to find a legit cloud mining programs, most of the legitimate platforms are already sold out.
 
DigitalNomad said:
I was scammed by a clod mining company in 2018, I lost $100 worth of BItcoin. Therefore, I understand the risk associated with cloud mining. It is really difficult to find a legit cloud mining programs, most of the legitimate platforms are already sold out.
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That's just what I mean, there are almost no alternatives within cloud mining, I think it is better to look for other options such as creating a node in some cryptocurrency and receiving rewards than being scammed on any of these platforms.
 
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