Which one do you think is more stable and efficient, cryptocurrency mining or crypto contract trading?
I feel like you already have an answer to this, being that you’re selling mining equipment. I think there are a lot of factors involved, especially the up front capital costs to acquire said hardware. And then the resources needed to run the equipment.
Your thoughts?
Mining is WAY too expensive for what you get in return
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If I leave it to a professional hosting company, I only need to pay some service fees, I will have a fixed cryptocurrency return every day, no need to consider electricity consumption, etc., only need to consider the up-front equipment investment
What if I leave it to a professional hosting company, pay some service fees and don’t need to care about the consumption of power resources later
I think PoS offers far lower barrier to entry and higher yields anyway so I wouldn’t bother mining personally
High returns often mean high risks
Depends on how you are defining risk. 19-20% APY on stable coins is relatively low risk and requires a very low up front cost vs paying out for a miner in the hope it pays long term. I’m not saying YOLO into every degenerate project out there but there is a lot outside of mining worthy of your research.
Exactly.
You can make 8% APY buying/depositing USDC with Gemini. 18% APY staking UST with Anchor protocol. And those are super easy with a couple clicks.
What kind of returns are you seeing @Lee0709?
I think Nexo is offering 12.5% on USDC and USDT now. As you say 19.5% on UST even if you don’t do anything else to ramp that APY up. Can easily get that to 50%+
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Cryptocurrency mining is a competitive process that verifies or maybe add new transaction to the blockchain for a cryptocurrency, which uses PoW (Proof-of-Work) method.
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Such amazing returns and completely passive
No wonder banks aren’t happy about it.
Cryptocurrency mining is not just competitive but also very expensive. The mining process could take years to build good value.