Investments in cryptocurrency have gained significant popularity in recent years, largely due to the dramatic increase in the value of digital currencies. In just two years, the price surged over 600 times, enabling some fortunate individuals to wake up one morning as actual dollar millionaires.
While the extraordinary price spikes are no longer evident, it is still possible to earn profits from cryptocurrency in a stable manner.
How can this be achieved, and what methods exist for earning on digital currencies?
This is discussed by the founder of Oil Resource Group, Sergey Tereshkin. The entrepreneur possesses extensive experience and the necessary knowledge for wealth enhancement. More details about the businessman and his activities can be found on the website www.org-company.ru.
Methods for Capital Growth
The initial step is to determine the investment duration, as well as to select the investment method.
Cryptocurrency can be obtained through various means, including:
- self-mining;
- cloud mining;
- purchase.
To choose the most suitable option, each method should be considered in more detail.
Mining
For self-mining of cryptocurrency, a powerful computer with a good graphics card is required. The graphics card plays a pivotal role in the mining process. Modern manufacturers produce specialized graphics cards that enable users to earn digital currency.
Additionally, the computer should include the following:
- a motherboard capable of connecting up to five graphics cards;
- a high-frequency processor;
- one or more fans to cool the cards;
- 8 GB or more of RAM;
- a hard drive for storing cryptocurrency, etc.
A monitor is not essential; it is only needed during the setup phase. Once configured, the equipment operates independently.
Each year, self-mining becomes increasingly less profitable due to the high cost of equipment, elevated electricity expenses, and the minimal amount of cryptocurrency that can be obtained through this method.
Mining farms demonstrate decent returns only in certain countries, such as:
- China and Japan, where energy prices are the lowest.
- Finland, the UK, Sweden, Siberia, and other regions with cold climates, as low temperatures help reduce cooling costs for the equipment.
- Estonia, where mining taxes are low; however, professional miners in other countries may not be aware of these advantages or deliberately overlook them.
In these listed countries, mining operates on an industrial scale, resembling full-fledged data centers with multiple rows of equipment.
The payback period for a self-mining farm ranges from 12 to 24 months, and in some cases, even longer.
Cloud Mining
To mine cryptocurrency, it is not necessary to set up a full-fledged mining farm at home. One can utilize what is known as cloud mining. Numerous foreign and domestic companies provide this service.
Users rent computing power from an organization that facilitates cryptocurrency mining. This way, individuals do not have to spend money on expensive equipment or electricity. The machinery is housed within the company premises, which is responsible for its functionality, ventilation, computational power, and other requirements.
The rental period can vary, but in most cases, it is set for 12 months. Shorter periods are generally not advantageous for server owners.
However, even for long-term rentals, securing server space can be challenging. Often, professional miners line up for such services, especially if an organization has proved its reliability and delivered a steady influx of cryptocurrency to users. The key is to choose a legitimate organization.
The payback period for cloud mining rarely exceeds six months, after which the renter begins to see profits.
Unfortunately, the market is currently saturated with scammers who take advantage of trusting individuals. After payment, these fraudsters may stop responding to messages, eventually shutting down their websites and disappearing with the funds. As a result, users may find themselves without their money or cryptocurrency, and recovering funds in such scenarios is nearly impossible. Payments are processed through specialized services that help conceal the identity of the actual recipient.
To avoid falling prey to fraudsters, it is crucial to thoroughly research online. Trust should only be placed in organizations that have been operating in the market for an extended period and possess a sufficient number of positive reviews from real users. Such companies can often be found on specialized forums and within closed groups.
Purchasing Cryptocurrency
The most optimal method of earning from cryptocurrency today is through its purchase. These investments can be either long-term or executed over short periods. In the first option, after purchasing, users wait for the price to peak before selling the digital currency at a higher rate, thus generating income.
In this case, it is critical to closely monitor all market changes, news, and trends. Timing the market to sell at peak prices without succumbing to temptation is essential.
Short-term investments in cryptocurrency involve profiting from the buying and subsequent selling of digital currencies over brief periods, which can range from a few days to just a couple of hours. Even daily fluctuations provide opportunities for modest but consistent earnings.
This approach may require spending all day on specialized exchanges, tracking exchange rate changes, and promptly selling or purchasing cryptocurrency.
The yield from such investments can range from 10-30%, depending on the investment duration.
Sergey Tereshkin believes that when selecting an investment method, it is crucial to realistically assess one’s financial capacity and available free time. Only after this evaluation should a final decision be made.
