Hello follow users . I am wanting to get into crypto,Bitcoin etc . I need help please
Does anyone recommend a good mining software / cloud mining platform? , without the mining equipment to begin with?
So should crypto exchanges be avoided ?
Many thanks
cloud mining is a scam, at best its gambling, at worst you will just lose money. exchanges while useful and i personally always have a small amount on there should not be the place you store your crypto, but are great for an onramp to buy crypto with FIAT.
y2kanonomous . What software or mining pools do you recommend please 
???
it depends on what hardware you have that you want to use for mining
Laptop or phone . For now to begin with. I know it’s not a PC. For the moment its the only option for the moment .
i really wouldnt mine on a laptop, especially if its your main one. and if you want to do phone mining i would say the same thing. but if you want to still do it then… easy setup for computer laptops use nicehash www.nicehash.com. and if you want to do phone mining check out https://www.youtube.com/@NewEnglandCrypto he has some good info on phone mining.
but like i said its really not suggested you use your main devices for mining. so only do it if those are spare ones you dont really care about.
Many thanks for sharing.
Is nice hash trust worthy?? And how long does it take get 1 Bitcoin for example.
it really depends on what kind of hardware your using. but assuming you have a laptop and maybe one phone it would take many years to earn 1 bitcoin. and yes nicehash is a trusted place.
In the future. Managed to get a pc setup. Any recommendations for faster software. Get to multiple Bitcoin???
Talkin serious business then
it takes more than just getting better hardware. there are many factors. including your electricity costs, local taxes, local laws, and more. most bitcoin being mined is using hardware that costs at the low end 1000 usd, to the higher end 7000 usd. crypto currency mining is not a get rich quick scheme. and you really need to search for as many resources you can to figure out as much as you can. if done the wrong way (or even the right way, but just unlucky) it can financially ruin a person.
Thanks I will keeping doing research.
I started CPU & GPU mining with my gaming PC in 2017 though I didn’t do it 24/7 365 and stopped when my returns seemed so low but have gone back a time or two and from PC mining I have never mined anywhere near 1 BTC. To get 1 BTC you would need multiple pieces of hardware and if you want it soon you would need to toss aside efficiency and go for max raw hash rates. You would likely spend more in earning your first BTC than 1 BTC cost with that idea. Typically if you want to mine seriously and for a real profit you will still need to invest a lot but you want to maximize the efficiency of your mining so that your daily operating cost are less then the value of the crypto earned per day. I would also look at focusing on more than just BTC there are plenty of established cryptos and even emerging ones that can bring a profit. Exchanges and Decentralized Exchanges are good for swapping one crypto for another, buying crypto, and selling crypto but are not the best place to keep and hold crypto. There are some crypto, which can be bought or traded for, that have a sort of interest on them through a system called staking that might be worth looking into.
Some things you want to look at as you go forward
#1 What is your electric cost and does your power has TOU rates
#2 How much can you afford to invest today
#3 How much can you afford to spend per day/month to operate any miner
#4 Which Cryptos are you willing to invest in/gamble on
There is more but these should give you some ideas and thoughts to plan and move forward.
While we have talked about the risk/dangers of an exchange having accounts on multiple ones is a good idea to find optimum cost when buying, selling, or trading. Centralized exchanges can often offer rewards to users including referral rewards plus multiple exchanges can minimize risk of loss by having your crypto spread out. The Decentralized exchanges, particularly newer ones, have other benefits a big one is some end up building their own crypto currency/token and giving it to their users plus many are designed to try and minimize fees and costs to each trade.
I am far from an expert on this and I am sure others may correct or adjust things I say and I have tried to give a borad starting overview of points of consideration as you begin to learn about crypto.
PirateSeulb . What would you recommend for cryptos that make you a profit any will do ? And mining software or programs would you recommend also ??
For software to run on a PC I would look at Hive OS, NiceHash, and Chia are options.
Hive OS lets you mine multiple types of crypto directly vs NiceHash you typically are more renting out your system to hash different cryptos for others and get paid in one, ie BTC, and Chia is a HDD mining that you can run on a PC you will need ~~500GB free for the Blockchain, another 250+ GB for the building the plots, and then a couple TB for the farm. I probably wouldn’t start with less than 6TB of farming space and a 1TB or more main disc for the other pieces of it.
I couldn’t say what ASICs to invest in really right now with out knowing a budget.
PirateSeuld thanks for sharing insights. And recommendations for laptops or phone ? Forgot to ask before. At the moment it’s only laptop or phone options I have available to I .
Chia is still an option with a laptop you will need 1 or 2 external drives connected with the recommended storage or greater storage.
NiceHash is an option but can’t say how good it will be with out knowing your specs but can be a nice start but you can’t withdraw the earnings until you hit a certain threshold of the currency earned and in recent testing I think it would take me around 50 days to earn enough to withdraw with a PC that has a Ryzen 5 3600.
Chia will depend on how much storage you can throw at it as to how often it will pay out.
This isn’t financial advice nor am I a financial advisor, but Bitcoin is a good start.
An even better start for beginners is to checkout XEN Crypto, an ERC-20 launched on multiple EVM chains, by Jack Levin.
It’s one of the easiest crypto’s to get into and follows first principles. Basically, it’s a free token, like Bitcoin. You just pay gas to mint it. It’s tokenomics is disinflationary over time with a difficulty factor. All you do is choose how long you want to wait (the longer you wait the more tokens you mint) and pay the gas fee to start and end the mint. It’s “virtualizing mining” through a function of time.
There are no dev fees or ICOs, It’s free like Bitcoin. Bitcoin, you pay electricity costs and hardware costs. XEN, you pay gas fees, which is electricity/harware costs abstracted because it cost money to run a validator.
The next thing you could do is mine XNM with your GPU. Here’s an article that I wrote that you can follow if you would rather rent a GPU.
What is XNM? It is a token for the X1 Blockchain, being developed by Jack Levin and Fair Crypto Foundation
The X1 Blockchain is a hybrid proof of work/proof of stake, a fork of Fantom, utilizing DAG.
XN is the gas token but also required to run a validator node. XN is acquired through several ways, one of them is by burning XEN. Another way is staking XNM after you’ve mined it with your GPU.
One of the difficult things to start a Proof of Stake blockchain is creating a token out of nothing, which is why Ethereum started out from Proof of Work, and other Proof of Stake chains used ICOs.
This is one usecase for XEN Crypto. Another usecase of XEN is simply being a “neutral token” with no narrative. It simply is. It is just an ERC20 token that you can mint for free, just paying gas. Minting costs go to no investors or developers. It’s just the gas fees, which go to EVM validators, just like electricity cost goes to electricity providers for Bitcoin.
XEN Crypto has a “burn function” built into the smart contract. This burn function allows anybody to give XEN utility and create whatever narrative they wish.
One of that is burning XEN for the XN token for the X1 blockchain.
You can also burn XEN for a variety of community built projects like XENDoge, DBXEN, Xenify, Fenix.
This burn function also allows you to receive XN (the gas token for X1 blockchain). So you can participate and try out community built projects while getting credited for XN.
It’s a community token. Whether XEN has value is up to the community.
Checkout XEN at https://xen.network and “virtual mine” crypto on whatever EVM chain its launched on. Then checkout some of the projects built for XEN, or perhaps suggest/build your own project.
Then checkout XNM and learn more about the X1 Blockchain.
Here is my “advice” to kick things off, just download nicehash’s quick miner, and just have some fun with that. You WILL NOT make any serious money with that laptop, unless its got a 4090 in it, which I doubt. I started with an rx 470 I purchased for $100 on ebay a few years ago, and now I’m getting close to filling out a full 6 card rig. Once you’ve learned the basics, just watch some guides on building a mining rig. Something simple, with a cheap GPU. A mining rig nowadays for a noobie, will only run you around $400 USD or under if your really careful.