Cryptocurrency mining isn't for everyone, and it might seem daunting even if you are interested.
You might think you need an extreme know-how of computers to do any kind of crypto mining, that it couldn't possibly be done by the average person.
Turns out, it's absurdly easy.
You just need computer parts that are powerful enough to make mining profitable, and a handy piece of software called Nicehash. You literally press a green button on Nicehash to start mining.
I've been experimenting with crypto mining on Nicehash myself, and it's been a fun little project. I'm not raking in a huge amount of cash, as my mining rig is small enough that it's more like looking for change on a sidewalk. Bigger mining organizations have warehouses full of powerful computer parts that can generate a ton of cryptocurrencies.
And at the end of the day, I'd only really suggest it if you already have a gaming PC with an appropriately powerful graphics card – the key component for mining. And you need to make sure your electricity costs aren't too high, as mining can suck up a ton of energy.
Before anything, you have to make sure you have the right gear.
Whether or not you know anything about mining, you need to have some powerful hardware.
You could mine with a basic computer that only has a processor, like an Intel or AMD processor. But graphics cards that PC gamers use to power their games are much better suited for the job.
For the best results, you'll need desktop PC and Nvidia or AMD graphics cards. Laptops, even the gaming variety, may not be very well suited for mining.
For Nvidia cards, you're better off with the current GTX 1000 series of graphics cards, like the GTX 1060 (6GB model) or above.
As for AMD cards, the best models include the RX470, RX480, RX570, RX 580 (8GB model), RX56, and RX64. But good luck finding an AMD card at any sort of reasonable price these days.
If you already have any of those parts, great! But you probably shouldn't buy more of them just for mining just yet.
It's best to start off with what you've got before splurging on several cards for mining. At this stage, even if you've experimented for a few days and you're still interested in mining, I'd still recommend waiting a while.
Nvidia is expected to announce new cards in March. Those new cards will likely be more efficient at mining than the current models. You don't want to spend money on cards when new models are on their way.
You do, however have some time before AMD releases a new card, as it's expected to release new cards in August.
If you don't have any of those recommended cards, then it's worth waiting until the new models are released, at least if you want Nvidia cards.
Graphics cards are also being sold at greatly inflated prices these days – if you can even find them – due to shortages in supply, and it's almost entirely because miners are buying up all the cards!