Do you think mining Bitcoins are safe?

[Kinglierfurtho 287]

We know that mining attracts people.It has a magnetic approach for investors who are Interested to invest in Cryptocurrency.But Is it safe enough or a risky business?we believe Cryptocurrency is future and they are rewarding limitlessly.   

[rekter 8129]

What do you mean risky? You can lose money by buying bitcoin and mining it. That's pretty much the only risk you have, unless you are trying cloud mining, then there are several other ways to lose your money in scams.

[bitcoinb 1359]

5 hours ago, stuntdila said:

 at first they give away few people money to attract more investors

@stuntdila Real cloud mining websites never give free money or free Gh/s. They sell mining contracts. Some good examples of Legit websites are  Genesis-Mining and Cloud.Sesterce.

 

[magd 5231]

Bitcoin mining may be safe if all the conditions and sufficient funds are available to start the project, but in not enough money is available, we will not be able to purchase processors and refrigeration devices and therefore it will be a dangerous business due to financial losses in addition to that Bitcoin mining has become more difficult than before and people started searching for currencies Another to mine

[Jeet Narayan 1940]

I think mining Bitcoin is safe but now it is not be profitable. I read lots of websites article and found, few years ago mining is one of the best way to earn Cryptocurrency but these days it is becoming unprofitable.

[kadayakito 765]

owning a currency like bitcoin will undoubtedly be more beneficial, knowing how to sell it will be even more profitable. But for bitcoin mining, I'm not sure. because it is assessed by many different factors. if you can guarantee it is very good but if not you will not gain anything.

Edited April 18, 2020 by kadayakito
not enough characters.

[Jaysen0104 536]

Yes for me in my opinion and in my experience mining bitcoin is safe and the only concern you might consider in the expensive price for the device you need in order to mine cryptocurrency. And yes it is safe depending on how you keep it and store it properly.

[jacker 1095]

I don't really get what you mean. When you successfully mine bitcoin, I believe you are the happiest person in the world. But mining bitcoin is very difficult. When you invest and exploit it, you have to determine the profit. If you can, then exploit. If not, stop. Bitcoin mining is not a 1-on-2 affair. It's super hard.

[bliznec 22267]

Most likely, mining is very safe in the field of mining bitcoin and cryptocurrencies. This is true and there is no need to fear for it. 

[Calvinpriva 17296]

Mining is a good method to earn money with crypto currencies but very risk. Mining its risk because there are many scammers who are creating fake projects and use them to steal money from traders. But if you will get a legit site, mining is very profitable.

[BTC Future 3946]

In order to mine Bitcoin you will need a large capitol, as there is high cost involved in buying the hardware, renting space, reducing sound, cooling the space, and finally the electricity bills. It is not risky though in case you can afford a good deal with a power supplier. If you manage really low electricity cost, then you can attract funds to build a large farm.

[BitcryptoHan 2557]

Bitcoin mining is very safe, but is must be done with care, and also, someone should read about it very well before thinking of mining and the person should know that aside from joining mining pool, there are many scammers that will offer cloud mining. 

[ETheHedgehog 3104]

it's not risky because if you calculate electricity rates and hashrate you actually have the safest way of earning bitcoin even safer than trading

[BitcryptoHan 2557]

On 4/15/2020 at 10:21 PM, Kinglierfurtho said:

We know that mining attracts people.It has a magnetic approach for investors who are Interested to invest in Cryptocurrency.But Is it safe enough or a risky business?we believe Cryptocurrency is future and they are rewarding limitlessly.   

Mining bitcoin is not profitable again, mining pools would have now divide the bitcoin mining reward. It is good to make good calculations before starting like how expensive electricity in your area, it it constantly given, do you have cold weather or you will buy cooling machines like air conditioners, is your countries easy to get access to mineral etc. 

[melikf78 987]

in my country its risky because  mininy crypto currency is not legal in my country and police closes mining farms but in other countries you should consider electricity and mining machines price and calculate mining is profitable for you or not also it depends to the coin you choose to mine.

[Soaib khan 1035]

yes absolutely true mining of bitcoin is totally safe but sad reality is that it requires high electricity and high money to start so that's why these days many people are not interested in bitcoin mining

[Crypto123 0]

If you use the necessary equipment for mining it is completely safe and there is absolutely no fear of it, but if you use the mobile or the processor it is not safe because it may cause damage to your device as a result of using the maximum processor power as well as there are a lot of malware that may be in mining applications.

[abualez 4106]

Well, my friend, for me, I think safe mining is home mining As for cloud mining, it is very rare by 1%, you find it honest, which makes us move away from this type to get profits.

[Honny143 13612]

Bitcoin mining is safe mate but the Major problem in bitcoin mining is so expensive, its need lot of money and expensive mechanise and some knowledge, but cloud mining is not safe because in this platform 90% of cloud mining sites are scam, 

[Zaino34 0]

Bitcoin mining is safe and profitable, but you must follow the correct methods of mining in order to be able to make a profit from it, and you must purchase special mining devices and use safe sites and safe portfolios to store the currencies you obtain.

[Raqeebzy 6456]

I really don't know what you meant by if it's risky. However, you can setup a mining hardware if you have the savings to purchase all the hardware and can manage the electricity costs, you might need up to $2k or more. Or you can go into contract on a legit cloud mining site, although the profit are limited and you can only mine a few top coins unlike the former.

[carlos291 76]

My recommendation on the matter about mining first that you should investigate about that platform how safe it is and how good its profitability is, yobit is an excellent option also you can go to telegram groups where people with experience in mining are.

On 21/5/2020 at 11:44, melikf78 said:

en mi país es arriesgado porque mininy criptomoneda no es legal en mi país y la policía cierra granjas mineras pero en otros países debes considerar el precio de la electricidad y las máquinas mineras y calcular que la minería es rentable para ti o no también depende de la moneda que elijas mía.

And in your country they do not allow you to get a permit or document signed by the authorities where it describes that you can negotiate mining and that you pay the state a% of that mining or rather a tax?

[Mohanedmokhtar 8]

yes , i tried some trusted site and gian good money from mining

[AlanPartenuk 41]

I believe that mining bitcoins is safe but it is very expensive to do it from home, I prefer to mine from the cloud although it may have as much profit as in the conventional way.

[rocki 319]

On 4/15/2020 at 11:21 PM, Kinglierfurtho said:

We know that mining attracts people.It has a magnetic approach for investors who are Interested to invest in Cryptocurrency.But Is it safe enough or a risky business?we believe Cryptocurrency is future and they are rewarding limitlessly.   

Mining in the cloud does not have to be dangerous at all. If we choose the supplier smart, we can earn a lot. I have used and recommended MInerGate, Genesis mining and mining on the Yobit exchange.