The world of crypto is similar to the Wild West for a lot of investors. The new technology is taking the world by storm, yet it’s instability and insecurity makes it a risky place to put your capital. Mining, on the other hand, is a lot safer and can be done directly on your home computer with less investment.
Mining is the process of solving complex mathematical equations to validate transactions. When a transaction is validated, crypto is mined and miners get a fraction of it. Here are the key elements to look out for:
Use GPU For Mining
CPU (Central Processing Unit) used to be the original mining tool, however in recent years, GPU (Graphics Processing Unit) replaced it. GPU reduces high power consumption, increases output and works more efficiently than its predecessor. You can either buy your own GPU or subscribe to a platform that runs its servers using the same technology.
Keep Your Servers Cool
Overheating is a huge problem in crypto mining. So much so that it is an unsustainable and environmentally unfriendly process. In addition, your computer gets too hot and runs at a much slower pace resulting in less yield. Opt for a cooling system in your home or check out some data facilities that keep temperatures low in their centers.
Find A Good Data Facility
Mining, as most industries, comes with its own headaches. The cost of running your own server can be high: you need to monitor, pay the electricity bills and fix any problems that may occur while the computer is mining.
These challenges can easily be removed by outsourcing your servers to database centers with 24/7 maintenance such as Coloco. Database centers also allow you to integrate other servers you may have running at home in different countries – making it easy for you to mine crypto anywhere in the world.
Invest In A Hard Wallet
Once your mined crypto starts to accumulate, you will need to store it and protect it. Hardware wallets are the safest place. You can set up an Ethereum Wallet on your computer or simply buy a Trezor or a Ledger if you prefer to skip the setup and have a hard wallet immediately.