Hello i am new in mining cryptocurrency , i want to buy few GPU’s to start mining any suggestions.
should i go for NVIDIA or radeon.
which model and type
budget 1000 $$
how much will it make after setup
Thank you
TL;DR- GPU mining bitcoin is ineffective. Recommend alt coin for GPU mining. $1k is a very low budget. Risk way(not recommended if you are new) is to arbitrage your 1k to get more money.
To mine bitcoin you don’t want to invest in gpu mining. The amount you would spend(varying on where you live) on a gpu setup for bitcoins you would lose everything. ASIC miners are the only real way to mine BTC.
With a budget of $1,000(I am assuming USD) and wanting to do GPU mining I would recommend a smaller alt coin such as: Raven, Aion, Grin, Nicehash, or Beam, to name a few. Then I would either A) if the coin is stakeable stake it or B)turn around and sell it immediately to be able to buy more parts. Don’t be expecting to make a whole lot of money though cause all the coins yes are easy to mine but they are also very very cheap coins.
Another thing you could do with that $1k but it is a little more risk is arbitrage. You buy an asset on one market and sell it on another. For example: buy ETH on Coinbase for a low price then find another market like Crypto.com then sell it at a higher price.
I am using nicehash on my gpu rtx2060 super im getting almost 1.5$ , do you recommend to stack more of the same gpu , on any other recommendation from your experience.
Is nicehash good or do you prefer any alternative ?
What asic miner do you prefer for mining?
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Stacking same gpu: depends if you are going all in on one coin. You have to look at the power draw of the gpu’s and make sure you have a psu that can support it.
Nicehash good?: It is a okay. For a 2060 i would recommend XZC or RVN. I mine RVN with my work/game computer while I am on it(rtx 2080) it makes me about $1/day for the couple of hours i am working/playing games.
Asic miner?: Again it varies on budget, energy cost, etc. $1k budget i recommend no ASIC miner because the cheapest one that still “makes a profit”(I use that phrase very loosely) is the Bitmain S17+ for like $800 and you will only be making $0.22 a day if you’re lucky. A decent ASIC is going to cost atleast $1.5k USD. Again, which one to get depends on which coin you want to mine.
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If i raise my budget to $3K, and want to mine on nisehash , which would you recommended, gpu or Asic miner. How much will i gain per day from your experience?
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tough call. can your electric handle a top tier asic?
Yes electric no problem
With GPU’s you can change algorithms and coins as fast as you can find a wallet, pool, and exchange to trade on. Yes, you can figure on earning around $1 per card per day and ASIC’s can easily beat that but ASIC’s are expensive and only mine the coin they were built for … period.
I suggest (to keep cost reasonable) that you build out a 6 GPU rig of the same card…you mentioned 2060 SUPER. At least 2 fans and a backplate would be nice for cooling and protection. MSI, EVGA have good warranties. Others may also but those are the ones I heard of.
I run the power level and memory clocks all the way down and slowly raise the core clock until failures in mining and communication start, then back off a bit. This way you get the most hashrate/watt.
No sense running the electric bill up. If you have free electric, let those suckers fly …
Good luck. mining, your pool, your wallet, and your exchange are the first steps. Trading on the exchange comes later and you can learn to trade … or just spend the money … oh, don’t forget to pay taxes on the income…this is the USSA…
Any suggestion on which mining pool i should start on or keep using nicehash on 6 gpu setup thanks
i switched to nicehash a week ago after experimenting with hiveon pool, for me it a bit more profitable to mine on nicehash, but not by much (0,5-1$ a day on my 11 gpu rig) the only coin i mine is eth. and there is a lower limit in nicehash to have your mining reward freed up
I’m also a newbie and I am looking for some mining hardware sites. I would like to get a 6 CPU rig with everything but the GPUs. Any recommendation on some good sites?
Really, it depends on the coin you want to mine.
That will determine which algorithm and miner to choose from but you can easily
google the coin for coin//miner/wallet/exchange as you will need all to be successful at spending that crypto.
I like 2miner pools the best because of the graphical presentation of your mining rate and charting.
Other Pools like Leafpool, 256.online, Mintpond, Sparkpool, F2Pool, etc are good too but it’s your choice and whether you can mine anonymously.
You will figure this out as well as the wallets and exchanges, give it time.
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