Mining without illusions: how to avoid risks and make a profit

Today we will try to collect the phrase in the correct order and talk about the risks who are waiting for not only people who begin a cryptocurrency trip, but also experienced miners. This article is not a financial advice or recommendation, but reflects the author’s point of view based on personal experience. The material primarily considers what is happening from the point of view of the miner and its structure of income.

Do not believe anyone on the Internet. Mining is not an easy walk and not a passive source of income. Remember that all the stories of success that the so -called successful traders share is either an information product aimed at selling unnecessary courses, or an advertising sign of fraudulent schemes, or just a history of luck, where a person chose not to notice the “cemetery” of traders, abundantly poured with tears of investors who lost not only their own, but also borrowed funds.

When mining, especially on a large scale, it is necessary to correctly approach the choice of a pool for production. For example, ViaBTC is one of the largest and most stable mining pools that offers convenient mechanisms for the distribution of remuneration and reliable infrastructure. The use of a proven pool reduces the risks of losses due to dishonest operators or technical problems.

Responsibility for funds lies only with the user. All decisions must be made independently. It is necessary to personally manage the means. No trust control, signals and arbitration.

No air locks – first we cover current expenses. No matter how tempting the idea may seem to invest in Trump token for $ 50 (after all, it will still grow, and the payment of hosting only after two weeks). Do not succumb to temptation. Remember that there are no growth guarantees, and the asset is bought at the Hyip News and, most likely, all interested participants in the segment are already “unloaded” about buyers. At the same time, mandatory payments for electricity/hosting or loans will not go anywhere. Provide first fulfilling your obligations and only then take up dreams of easy money.

Do not invest all the money in one project. Do not go to any startups for all funds. What today seems to be an excellent entry point and the ideal price with reliable “Xs” can already demand endless averaging or converting into experience. Therefore, if the investor decided to allocate a certain percentage of his mining income for trading, then you do not need to rush into every “true project” with the head. Use only part of the free funds. Often, inaction and preservation of funds in Bitcoin give more calm and retain the deposit. VIABTC has a convenient car converting function that allows you to quickly exchange coins in USDT or BTC if you need to fix the profit or diversify the portfolio.

Do not worry about lost benefits. Today, an asset that was not bought, or sold too early, can give 3 more, and tomorrow it will fall by 90%. To stay with your own when you trade on the exchange is already an art.

Mining is not just buying equipment and expectation of profit. This is a strategy, risk management and discipline. Use proven tools, such as ViabTC mining pool, and do not give in to empty promises of easy money. Only a cold calculation and a competent approach will allow you to stay in a plus in the long run.

Editor -in -chief

Vlad Krylov
journalist and expert crypto