Bitcoin Trading is considered the new profit-making avenue, but Bitcoin Mining can be way more profitable. Here are the factors which make Bitcoin Mining more profitable than Trading.
Considering the current price of Bitcoin,Guest Posting it is highly unlikely that most investors will be able to afford it. However, the good news is, there are more than one ways to own Bitcoin and other cryptocurrencies. Bitcoin mining, while highly competitive, is a highly lucrative industry.
With the advanced ASICs machines Backup wallet and intuitive mining softwares, miners can not only cover the initial costs of the equipment in a single year but also earn a significant profit. The popularity of Bitcoin mining has grown hand-in-hand with the acceptance of cryptocurrencies.
According to an ING International Survey, over 35% of European crypto enthusiasts believe Bitcoin will take over the online shopping market. Also, 32% of the group thinks cryptocurrency has much more to offer than traditional financial services.
Bitcoin mining uses ASIC computing power to solve complex equations, which earn the miners a reward in the cryptocurrencies. The evolution of DeFi technology has made Bitcoin mining more lucrative by empowering platforms such as Zionodes and creating smart contracts.
Here are few reasons why Bitcoin mining is more lucrative than buying.
Money is undoubtedly the biggest lure for crypto investors. Cryptocurrency promises great rewards by holding and leveraging Bitcoin to grow more returns. However, considering 1 Bitcoin costs over $60,000, it might be unaffordable for maximum investors.