What is the best way to invest money for a beginner? We must first understand the basic terms that will help us understand the technical aspects of bitcoin mining, and mining can be fun and profitable if you have cheap electricity and get the best and most efficient bitcoin mining hardware.
The best way to invest money for a beginner
Before talking about Bitcoin mining hardware, it is not the only solution to get cryptocurrency if you want to invest; there are various ways, such as buying and selling from the popular trading platform Binance, which is a cryptocurrency exchange that provides a platform to trade a lot. currencies and is considered the largest cryptocurrency platform in the world. according to size.
Every person or trader undoubtedly thinks of profits from gold trading, metal trading, business services, surety bonds, gas / electricity, insurance, cash services and payday loans, mortgage loans, credits, mortgages, banking, forex trading, trading.
Cryptocurrency mining is an extremely tedious, expensive and rewarding process, but cryptocurrency mining has a magnetic appeal to many investors interested in cryptocurrency because miners are rewarded for their work with cryptocurrency.
This may be because business people view mining as money from anything like the California gold miners in 1849.
And if you work in technology, why not do it?
- Especially after Samsung recently announced that it would start designing chips for mining purposes, this information appeared at a conference in China, proving that the competition will be tough.
- Bitcoin mining has changed dramatically from what it was in the past.
- As the process became more complicated due to the increasing interest in it by individuals and businesses, including those who made their own equipment, and there was a race and competition between them.
- Due to the process of mining Bitcoin, it did not require any major hardware other than the central processor of the computer.
- To develop things later and graphics processors enter the field of mining and later recommend ASIC hardware.
How do I know the best bitcoin mining devices?
- Price is an important thing to consider.
- Instead, price is the most important factor to consider.
- If the device is cheap, it definitely has a lower operational efficiency and sustainability that cannot be compared to the expensive one.
- Attention must therefore be paid to the cost of equipment and include it in the calculation of the mining process, whether it is possible or not.
- Efficiency: does the mining process succeed under the climatic conditions (heat, moisture) and the price of electricity in the area where the mining takes place?
- Therefore, it is necessary to choose devices that work very efficiently to convert electricity to Bitcoin.
- Hash Rate: Of the things to check if the mining process is effective, the higher the hash rate, the greater the chance that you will solve a block and get a rewarding Bitcoin reward.
5 best miners in 2021
BitMain AntMiner S7
- AntMiner S7 has become one of the most popular bitcoin miners due to its low power consumption factor.
- And the recommended power supply for S7 use is 1600W APW3, which is one of the best on the market, and it is special.
- The AntMiner S7 is designed for bitcoin mining, the efficiency of the AntMiner S7 depends on the ambient temperature and the power supply actively used, but at a room temperature of about 25 degrees Celsius, the S7 delivers about 1300 watts.
- The profit from mining is about $ 2.43 per day.
- Bitcoin Miner $ 150.
BitMain AntMiner S5
- Even if the Bitmain Antminer S5 is not the latest version like the other S7 and S9 versions.
- Its functionality is perfect, as the Bitmain Antminer S5 has a power supply called 115V, which consumes about 560W.
- The power consumption needs are as low as the bitcoin miners that the Antminer S5 can supply.
- The unit delivers approximately 1 Gbps for every 0.51 watts consumed.
- In terms of efficiency, the S3 has improved the efficiency of the S5 compared to its predecessor.
- The profit from mining is about $ 0.59 per day.
- A Bitcoin miner costs $ 190.
BitMain AntMiner L3
- AntMiner L3 + has an easy-to-use miner packaged at a hash speed of around 504MHz per second, up to 800W consumption and an efficiency of 1.6 J / MH.
- The production capacity is $ 2.75 per day.
- Bitcoin Miner $ 209.
BitMain AntMiner S9
- BitMain AntMiner S9 is by far one of the best bitcoin miners available on the market.
- It has the highest hash rate of about 14 TB / s, and the high hash rate is made possible by three circuits with 189 chips.
- It is one of the efficient bitcoin mining software, it consumes 300 watts more compared to the S7, it is twice the efficiency at about 0.1 joules per gigabyte.
- The profit from mining is about $ 7.15 per day.
- Bitcoin Miner $ 414.