Cypotocurrency and mining

Beginner Questions
1

Where I will get new crypto for mining

2

I’m not into mining, but here’s what I found on the internet:
To find new cryptocurrencies for mining, follow these steps:

  1. Research Platforms: Websites like CoinMarketCap and CoinGecko list hundreds of cryptocurrencies. Look for newer coins and tokens to identify potential mining opportunities.
  2. Cryptocurrency Forums: Communities like BitcoinTalk’s Announcements section often have announcements about new coins.
  3. Mining Pools: Some mining pools might start supporting new coins early on. Websites like MiningPoolStats can provide insights.
  4. GitHub: Developers often release the code for new cryptocurrencies on platforms like GitHub. You can look for new projects there, but be sure to do thorough research to avoid scams.
  5. Join Crypto Communities: Joining cryptocurrency communities on Reddit, Telegram, Discord, etc., can help you stay updated about new coins.

Remember, mining new cryptocurrencies is riskier compared to established ones. There’s no guarantee of profitability, and some might turn out to be scams. Always do your own research and due diligence before investing time and resources.

3

Mining crypto is now only worth while if you live in a country that has cheap electricity. I did some research last year and did some sums and here in the UK it would cost more money in electricity to run the mining rigs than you would make mining. I think this is unfortunately the same situation in a lot of countries. However, if you do live in a country with cheap electricity you should be able to pick up some cheap second-hand mining rigs from those counties that mining is no longer financially viable. In the UK eBay is full of second hand mining rigs.

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4

Hmmm. :thinking: Mining crypto usually needs a lot of time and investment. :open_mouth: But if you’re determined to push through with that, maybe this can help? :open_mouth:

https://bravenewcoin.com/insights/crypto-assets-you-can-mine-from-a-home-computer

5

through cryptocurrency exchanges, mining pools, or by participating in initial coin offerings (ICOs) or token sales.

6

A lot of new crypto has been created for the purpose of making money for the founders. They have stashes of pre-mined tokens, then they release their token to the world and hope to get enough support to get it on an exchange. Once it is on an exchange they will hype it up and then take the profits by selling their pre-mined tokens and leave you with your handful of mined tokens that are now worth nothing.

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