Is crypto mining still profitable in 2024?

natsuko

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I'm new to the crypto world and thinking about starting mining. Given the recent market shifts, is it still profitable in 2024? What should beginners like me expect?
 
Keep in mind that profitability in crypto mining can take time, especially if you're just starting out. Unless you have a solid setup with multiple miners, it's unlikely you'll see profits immediately. It's important to be prepared for the initial investment and the time it takes to break even.
 
I see various YT channels showing their earnings with mining.
You need to select well the coin you will mine and research what machine to buy.
They earn money.
 
I wouldn't recommend it unless you already have a lot of mining machines. Many income demonstrations are designed to attract people and sell them mining hardware.
 
I'd start by checking your electricity costs and use a site like this to estimate profitability

https://whattomine.com/asics

Taking into account the cost of the ASICs as well, and any infrastructure needs
 
I'm new to the crypto world and thinking about starting mining. Given the recent market shifts, is it still profitable in 2024? What should beginners like me expect?
You should always keep in mind electricity costs. They are what makes you profitable or not. If you've got free electricity (for example solar panels on your home) then making crypto with mining is all profit.
 
I'm new to the crypto world and thinking about starting mining. Given the recent market shifts, is it still profitable in 2024? What should beginners like me expect?
Do not expect profit in short term. But if you mine and hold for long term, it can be very profitable.
 
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