With all the different types of cryptocurrencies out there which is the most profitable way to make a passive income from this revolutionary opportunity?First off I am still learning tech terms, hardware, and how to apply them. This is solely based on my experience as well as some useful information that is easily available online through research.
Taking a look at cloud mining services I have concluded that electricity cost should not push you to using these service as a form of investing. I found out that being productive with your own computer and learning the technology is far more beneficial then waiting for a company to pay you a portion of what you should already have in cryptocurrency.
Almost all cloud mining companies have minimum payout limits, transfer costs and possible security issues like Nicehash, Adding to this list of negative is the concern of what implementations on taxation and regulations will be put into effect in the near future and what impact it will have on current price structures. Profitability is highly diminished do to rising contract prices, mining difficulty levels, time constraints and the price of cryptocurrency falling itslef.
Pool mining already gives you the advantage of liquidity, control and higher profit margins. As well as customization of dual mining for example Ethereum & Siacoin. The earnings you receive are based on the specs or capability of the technology you own. Setting up the software is very easy as long as your watching a video on how to. Most hardware is just as simple as plugging it into a slot of the motherboard then downloading the software to support it.
Lets compare my earinigns from what I currently make with 2 Geforce GTX 1080ti mining Ethereum a day vs longterm ROI. With the recent sell outs and cryptocurrency drop prices are prone to fluctuations.
2 Nvidia GPUS founders edition currently cost $825 on amazon which makes me $15 a day.
2 x 825 = $1950 /15= 130 days until my return on investment!
After the remaining days if earnings are consistent I would have made $3525 profit with my investment paid back.To me this is not worth investing more into this method of income. So I looked into other ways of using my Computers capabilities and tried cpu mining which did not even come close. At $1.80 a day With an AMD Ryzen 7 mining Electroneum My Roi was in 194 days with $307 profit at the end of the year!
But then I looked into mining using my hard drive as well as leasing out the storage with Storj , Burstcoin, and Siacoin.
My custom rig has 2 Tb of hardrive storage as well as a Solid state drive. The max I would make leasing was $5 a month per terabyte and around $10 with the solid state drive mining Saicoin or burst. This means altogether I make $20 a month for my set up. A seagate barracuda 2 tb hard drive runs around $60 that makes my Massive ROI in 90 days! keep in mind the gpu will still be running as well as the CPU . So long term the best bang for your buck is in renting out hard drive storage not just with the option of cryptocurrencies but with companies as well.
Long term I plan on having 64 TB of storage bringing in $320 a month with a cost of around $1500 in drives. A tip where to buy new or refurbished is on offer up, alibaba or on the geek app. Cost will be lower just make sure to get the products with long warranties and long life spans.
Thank you for reading I will update a post once my rig is finished.