Saltar al contenido

Mining Crypto: What You Must Know Before Investing!


Mining crypto is something revolutionary, and it has changed over the last years, is becoming something more and more popular. Everyone can mine any cryptocurrency, you can do somewhat secure investments, with little risks.

However, mining is not the same that it was back then, in 2021, there are other simple methods that you will love. Today, you will learn some of the most efficient ways to mine crypto, simple and easy.

As always, be sure to research a lot about the investments you want to do with crypto! If you want to learn how mining crypto works and how to do it keep reading.

How does crypto mine work?

The old proof of work method, where you need to invest in hardware and different mobility to mine is gone. We will talk about the proof of stake method to mine crypto in 2021, how it works, and how much you can do.

Many wallets allow you to hold crypto and invest it in stake pools, that way you can create passive income with crypto. This method has the great advantage that you don’t need to invest in hardware, nor have a massive consumption of energy.

Basically, you win rewards and dividends just by holding your money in a wallet, it’s amazing! Your money never leaves the wallet, you never have any limits, you earn money by having money!

Of course, the rewards are not excessively high, you shouldn’t expect great earnings, but you don’t need to do anything. Just by attributing your coins as a mining power to other users, you will earn a percentage of earnings. This is traduced in the rewards that you get.

What do you need to mine cryptocurrency?

In the case of mining crypto with the proof of stake method you just need a wallet that allows you to hold your tokens and use pool stakes. There are many platforms, one of the most popular is the Daedalus wallet.

You create an account and take your tokens to the wallet, then you just need to hold crypto there. Of course, if you invest more your interests will be considerably bigger. Apart from that, you are ready to go.

The other important thing is to know what pool stakes to invest in and investigating a little about the best ways to do it.

Is it worth mining crypto?

Normally, we just give you a transparent opinion on cryptocurrencies, and the advice is to be very careful. You can always lose money, but there are ways in which this can be prevented, but you need to have attention.

However, this is a different story, by proof of stake all you have to do is hold. The worst thing that can happen is that you retrieve your money back.

It’s a stake where you can’t actually lose your money. If you have some boring money, that you don’t know how to spend it would be worth the try!

You may also like: 

What is the Cardano (ADA) cryptocurrency and what is it for?

Why should you invest in Forex?

Should we keep investing in Bitcoin?