With every new industry and new market that is introduced to the world, the winners are the ones who come in first, and often make huge profits. Bitcoin mining was no exception, and the first ones in the market made huge profits, but not because mining and mining was profitable, but because they kept their mines at low prices. (For example, when bitcoin was under $ 1, or a few years later when it was $ 10, or even a few years later when it was several hundred dollars) they did not convert their bitcoins into dollars. They kept their bitcoin and sold it for a few thousand dollars.
But this does not mean that mining is not profitable, and only by raising bitcoin prices can it be economically viable. Everything has its merits, and one should not compare the different income-generating tasks and methods. If you want to look at mining as you look at rental property, car rentals, bank investment or risk-free investing in Forex, you will definitely be hit by this market and without a doubt, whatever the currency and currency is!
How To Make Big Profits From Bitcoin Mining?
good job! It became a question worth answering. In order to earn huge profits from mining, you need to look at mining with respect. Just buying a miner or providing a Cloud Mining subscription won’t bring you huge profits. As a team we’ve been with the digital currency markets from the beginning, along with testing and tracking various brokers and following them from the start, such as fxtm and Alpari, as well as investing in Forex, we’ve tried to become a source of income for this market as well. Well let’s look at the following:
- At first we decided to mine the equipment with the equipment in the area where there was cheap electricity, and then mine the machines. So we started with 250 antminer machines. At that time the machines were declared based on their power per second and were not as advanced and powerful as they are today.
- Then we extracted about 20 bitcoins over several months, after deducting maintenance costs. It was about that time that the devices began to depreciate and shut down one after another. We also decided to sell the other miners who were still working as second-hand devices to prevent our initial capital from being zero. We also turned this capital into bitcoin, and we had about 25 bits left.
- The mined currencies were also dumping in our Waltz, and the price didn’t go up by about $ 250! Eventually we decided to invest some of this capital into Bitcoin cloud mining.
- We were mining again by selling 10 Bitcoins and providing cloud subscriptions to the big sites of the time. By the end of the subscription period, we were able to convert that 10 bitcoin invested into 18 bitcoin.
- Finally, in 2017, we decided to sell all of our currencies in the right order at $ 17,000, thereby raising $ 561,000. Interestingly, our initial capital when we entered the market was only $ 25,000. That means more than 1000% Passvie Profit in less than 6 years, effortlessly!
This process has been done thousands of times by thousands of different people at different prices and times and with different funds and each time it has had nothing but success for that person.
Can mining in any way have the benefits mentioned?
The answer is certainly no. It is highly recommended that you do a thorough research before doing anything in the digital currency market. We would have been much more profitable if we had used cloud extraction instead of buying the device, but then the concept would not have been external. So try in any situation to make the most economical decision possible. The same goes for bitcoin mining.