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five hints
Projects / January 3, 2018 / Comments: 0

Five Hints to Get Maximum Mining ROI

Let’s say you have get your mining farm ready, now everything is on its place, buzzing and flashing lights. But more to the point, as soon as your equipment is powered on, it starts to consume a lot of costly electricity. You definitely have invested a decent amount of your hard-earned money and you want to see them working and bringing you the desired returns quite apart from covering your electricity bills. So, how to make sure that all your efforts give you the anticipated results? How do you make the best use of your mining farms?

It is a good thing that there is no ultimate strategy to use, so you have enough space to choose one or a number of them that suits you most. This field is still changing actively, developing fast and thus, providing you with a variety of paths to follow in order to succeed.

Below, you will be able to find out about five helpful hints that can help you to get maximum returns on your mining investments.

 

#1. Leading Bitcoin forks.

No one knows for sure and we can only guess as well whether Bitcoin forks are going to carve out a niche in the cryptocurrency area or simply vanish eventually. However, the forks like Bitcoin Cash or Bitcoin Gold have almost identical to the original Bitcoin code bases and get a strong support among the large pools` participants and providers of mining equipment. On top of it these alternative coins (also, altcoins) provide an impressive liquidity so, it is rational enough to distribute a certain part of your hashing power to one or a couple of these forks.

 

#2. The sunset of Ethereum mining?

It is decided that Ethereum is going to change its protocol to a Proof-of-Stake (PoS) implemented with the help of Casper. In simple words this means that you will not be able to mine Ethereum anymore. But it still remains among the leaders on the cryptocurrency market, also hosts lots of other different coins and keep in mind that these protocol changes will be accomplished gradually still giving you enough time to benefit from mining (a couple of years probably). Also, you can take your ETH coins as a future investment when PoS takes place. To finalize and clarify everything, Proof-of-Stake does not mean that you will not be able to produce ETH, you will be but in another manner. For the biggest players, it means the unremarkable opportunity to double the efforts in order to get maximum from Ethereum mining before PoS takes place.

 

#3. Emerging coins.

Apart from Bitcoin and Ethereum, there are hundreds of other coins out there to mine and get meaningful returns. Of course there are lots of useless coins and the question is – how to define those worth mining? These tips can help you to make your choice:

  • Take a look into mining pools and find out whether they are supported by them or not.
  • The market capitalization is also a good indicator to help you choose.
  • Find out about the project, both from technical and marketing aspects; and its team as they are key characters in the project’s ability to live.

Easy times are over as the contest is huge and every project tries to take its place in a new field.

 

#4. Privacy tokens.

As time goes by this topic remains important. Privacy is always a great concern for the majority of cryptocurrency participants. So it is wise to diversify your hashing power and include such anonymity oriented coins as ZCash or/and Monero to your mining list. The value of untracked assets is growing constantly and it is also good for the miner to have a certain part of his own value in it. The number of altcoins is exciting, but, in my opinion, the projects that are oriented on privacy have the highest chances to stay on the market after all. New coins with the same purposes constantly appear but it is to concentrate on what has already proved itself working.

 

#5. Signal tokens.

Double check to be sure. The right thing to do is to test some new features first before implementing them. Those who have already been participating in the cryptocurrency world may know that all the upgrades (both technical and strategic) that we currently see in Bitcoin were accomplished into other ecosystems. For Bitcoin the role of this ecosystem is performed by Litecoin. Basically it is Litecoin that gets improved first and develops faster. Just note that having this kind of signal coins may give you a lot of information about what you can see in other coins of higher importance. This way you can be certain and prepared to adapt your mining power to shifts.

 

To make a short summary:

  • Bitcoin and its market leading forks are used for the increased liquidity.
  • Ethereum – is on its way to switching to Proof-of-Stake protocol but the time to switch to other currency has not come yet.
  • Emerging coins – coins that are supported by big mining pools; can become a proper diversification for your mining power portfolio.
  • Privacy tokens – good thing to include them as well in order to protect your investments, also because their value is rising constantly.
  • Signal tokens – to be always in touch with any changes to be accomplished and get ready properly.
  • Also, keep in mind that each mining algorithm has its own differences. Not all of coins are mined with specific equipment like Bitcoin and of course they do not require that much of a computing power. Look deeply into what a mining pool offers. Good thing is to estimate the potential performance of your equipment to its cost before you start actual mining.
  • The preparations always look boring and some of them even seem unnecessary, however it all might prove its great worth and profitability later.
  • The described above is not a full strategy to follow. It is oriented to help you to decide over your own strategy so use it as a canvas to stick to.

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