I work a full time job, but want to start mining. Where do I begin?!? Do I start a business and get a loan? Do it through personal? Do I need to drop 10k right off the bat?
All help is greatly appreciated!
Start wherever you’re comfortable. There are smaller, more affordable, 120V miners that you can pick up to get your feet wet. Ultimately it would be good to have a business you can write off purchases and electric to but that’s more of a discussion with your accountant if it fits your current financial structure. When you’re familiar with the little details of how to run a miner and all that and are ready to go to a full size, you’ll want to make sure you have a space that works well. You’ll want to be able to ventilate the heat out and manage the noise created by 4 high speed fans. You’ll also want to decide if you want the stability of mining Bitcoin at the higher entry cost or if you’re comfortable with a little more risk to mine a smaller coin with a potential for higher profits and a lower cost of entry relatively speaking, or a combination of multiple miners for multiple coins. Happy to help out with any questions if you’re inclined to reach out.
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A few questions
Do you have a dedicated space to set up miners?
Do you have enough electricity for the miners?
Do you have a way to ensure proper airflow for the miners?
Do you have the knowledge to properly run power from your electrical panel to the miners?
Can you handle the noise (if looking at higher power miners)?
Do you have the funds to pay for the operation of the miners?
This is what I did after a lot of wasting time and money. I built an 8x8 foot room in the corner of my shop. I ran the power, hung a large fan and set up my miners on a standard server rack.
I run my mining operation as a business. I was able to build the room and run the power myself, so I saved quite a bit from not having to hire out that work. I have enough left over from my regular job each month that I can pay for the monthly operating expenses. This allows me to hold on to everything I mine so I can sell when prices are more profitable.
You can take a loan to get started in this adventure, but I’d strongly suggest having a plan going into it of what you want to accomplish before borrowing money. Miner prices have been coming down a lot, but the cost of running them is a big factor.
I watched a lot of YouTube videos to get basic idea. The professional rigs are loud, hot, & power intensive. I started LLC with bobcat minor first to low cost startup. Then move to the KD Max miners.
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I’d say study study study. Do you know about cryptocurrency enough? Enough to manage your own wallets and assets? Do you have accounts on some exchanges? Do you understand the difference between a Coin and a Token?
What ever you choose should match your time and investment levels. At around $10K in equipment, you are starting a new life path. It’s not something you set-up and walk away from, it will be daily monitoring and likely much more. Plenty of people do it for under $1,000 on a more home/private level before they take the big jump.
It seems like maybe you have your sights set on a Business, if so start correct. Get all your tax methods and business structure in place before you go too far. There are a few people on this forum who make post about those topics (business/taxes/mining).
Your questions can all be answered with enough Vosk video’s. It’s the weekend, dive on in.
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Agreed. Myself decided to go on this path. Sadly can’t find the machines now. Lol.
Also not buying machines that actually in the (RED)
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What number do find to be in the red ? The KD MAX was 36 k in November 2021. Now it’s 12k on goldshell website.
WEIcrypto said they might open a code tomorrow 
So you’ll be able to be one of the first people to mine it, I’m personally going to do that.