Investing into bitcoin mining has never been more popular. Many people are starting to see the benefits of bitcoin mining.
They see all the positive reviews and updates on bitcoin mining online and the decide to give it a go for themselves.
Some investors take large positions in bitcoin mining contracts from the beginning and see results fast. But smaller investors can get started with as little as $30. The best way to get started is with cloud mining a crypto currency you know best.
Most people get started with bitcoin mining, like I did. There are the six essential things that a cloud miner must do and know before they start. Let's take a look below.
- What are your goals?
It sounds simple, but most people don’t set a goal when they get started with bitcoin cloud mining. If you don’t have goals you have no plan and you are basically taking a gamble.
Whilst it can be very simple to invest profitably for the long-term you must define your goals as this will align your expectations correctly, so you don't kick yourself in the teeth if you don't hit a thousand dollars in bitcoin in one day. So give yourself a monthly, half yearly and yearly goals.
- Start early to get compound going
One of the biggest reason to the success of most millionaires is the power of compounding. Even Albert Einstein regarded this as the 'eighth wonder of the world'.
In bitcoin mining it means taking your daily bitcoin returns and reinvesting it into more bitcoin mining contracts. The earlier you start the faster you will see results. Stop sitting on the side line. Get started today.
- Every little helps
It does not matter if you start with $30 or $3000. It is more important just to get started and then invest in more mining contracts on a regular basis. I try to buy every week, you can get started with less frequent of more regular intervals. Just get going and learn to save and invest in bitcoin mining.
Get into the routine and one day you will look back and be amazed how far you have come. Of course, most people have a 'spend today and save tomorrow' mentality and that's the trap. Save and invest regularly to reap the rewards. You will be glad you did. Thank me later.
- Educate yourself
Learn your craft as you move on. There are loads of videos online and text to read about bitcoin and bitcoin mining.
Remember that you don’t have to educate yourself 100% before you get started. It is more important to get started and learn while you earn.
- Manage your risk
Successful bitcoin mining investing is all about managing risk. Only invest money you can afford to lose. Don’t use your bread or rent money to buy bitcoin mining contracts. Be responsible and invest some of your savings that you are willing to risk so that the money or savings work for you.
- Have fun!
Sounds simple but remember to have fun. Enjoy the process and celebrate your earnings from bitcoin mining.
One of the great things of bitcoin mining is seeing the earnings come in every day and growing day by day. Refer your friends and family and you will see even more returns.
There you have it, let me know if you need help getting started with bitcoin mining.
Join Genesis Mining here: https://www.genesis-mining.com/a/339950
Here is the promo code to get 3% discount: QqNvn3
Please comment below with your thoughts and please Upvote if you like to. :)
Thank you
Regards
Colin Brazendale
Email: [email protected]
Facebook: https://www.facebook.com/colinbrazendalesinternet/
Youtube: https://www.youtube.com/user/czb1972/
Thanks for the advice. I'm slowly making the transition from pure trading into mining and cloud mining.
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Great move! I know you will have great success.
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Profitable mining need huge investment...
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Hi @cryptoactive, are talking about cloud mining? The percentage return is the same with $30 or $3000 investment. I got started with $30 in July 2016. 6 months later I had $45. I then bought more every month to build my account and using returns to compound my account.
If you mean you need to invest a lot to make say $100 then yes that is true. But don't let that stop you. Just get started ans be patient. You will get to $100 per say over time.
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Pretty informative post but I’d update it with more practical advice. The most important tip is to check reliability of cloud sites because there are hundreds of scams and frauds. Newcomers should invest in time-tested companies. Besides, large sites are able to increase ROI with bonuses (look here: http://ccgminingcode.com/). Another hint is that you can mine not only Bitcoin. A lot of fresh altcoins are more profitable because they have lesser mining difficulty. Also, with large and old sites it’s better to invest for long term when new potentially HYIP schemes will be profitable with short term contracts only.
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