A beginner’s guide to mining
– an introduction to the world of cryptocurrencies
#OnlyBestMiners provides a brief introduction to the world of cryptocurrency mining as well as the subject of cryptocurrencies themselves. In addition, we provide answers to the most common customer questions.
In the guide we address issues viz:
Table of Contents:
1. what exactly is a cryptocurrency?
2. where to store digital currencies?
2.1. Hardware wallet – Trezor One / Trezor model T
2.2. Trezor One 4 2.3. Trezor Model T
2.4. SafePal wallet
2.5. CoinEx wallet
3. what is Digital Mining – digging cryptocurrencies?
3.1. What is the Mining Pool?
3.2. What is Block, what is Solo digging?
3.3. The most popular algorithms (with examples of cryptocurrencies based on the given algorithm)
4. what do we use to mine cryptocurrencies? – GPU excavators; ASICs
4.1. What to choose – an ASIC or a GPU copier?
5. Our proprietary professional profitability calculator for the entire range.
6. instructions for using the WhatToMine.com profitability calculator – an additional calculator for those interested.
6.1. Calculation of the payback period in days (PP)
6.2. Antminer KS3 on photovoltaics (free electricity) – calculation of payback period (in days)
6.3. Antminer KS3 on photovoltaics (free electricity) – calculating the return on investment per year (ROI)
7. price of electricity, co-location. Photovoltaics – what equipment to choose?
8 What is co-location/hosting?
9. how to start mining cryptocurrencies? – ASIC support and configuration.
9.1. Example configuration of an excavator (Bitmain) – using the Bitmain Antminer L7 as an example
10 – I have cryptocurrencies. What’s next? – Bybit, Binance
11. FAQ – answers to the most common customer questions:
– What is most profitable to dig?
– Is it possible to pay with cryptocurrencies?
– How many fraudsters are there in this market?
– For what period is the colocation contract signed?
– Is it possible to cancel the colocation and will I incur any additional costs?
– Do I have to sign a colocation agreement in person?
– Do you have any way to silence the excavator? How to recover the waste heat produced by the device?
– Can I get any discount when I buy a bulk quantity of devices?
