Greetings My Fellow Great Steemians. |
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Good afternoon from Nigeria to you all my fellow awesome steemians, I know you are all doing great and fulfilling your purpose for the day. It's a great delight to know you're all doing awesome, how is the weather in your country, you can tell me about that in the comment section, I want to know, because over here it has been raining for days.
And well of course it's my great pleasure to partake in this amazing contest here in the Steem4bloggers community today on crypto mining.
What Are Crypto Mining Apps? |
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Well, with my experience I will say that cryptocurrency mining is the process of taking part in the process of finalizing a blockchain transaction in the crypto space. Examples of mined cryptocurrencies are Bitcoin, Ethereum, Tron, Shiba Inu and so on. But mind you in the cryptocurrency mining process new coins are also released into the crypto market circulation which also have monetary value.
Are you Mining Any Coin? |
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Yes, of course I am. The cryptocurrency space is to promising for one not to take part in the activities there in, including coin mining.
Currently the potential coins I am mining in the crypto space are; yescoin, dotcoin, blum, Tron, and the popular hamster Kombat, including Steemit; which I've seen to be the best crypto mining platform. These coins have been rated to be the most promising in the future according to crypto news.
The Pros And Cons Of Crypto Mining. |
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Well of course there's nothing in this world that has a positive side without a negative side, even in cryptocurrency mining;
As for the 3 main PROS includes;
Enables efficient security in the blockchain space; mining helps in securing the blockchain network.
Efficiency in distribution of rewards; Cryptocurrency is a digital currency that has monetary value, meaning it can be earn and spent like normal money. So therefore this the part where you benefit from taking part in the mining process you get to earn rewards for contributing to the mining process. You sometimes even get to earn new digital tokens that are tradable.
Vibrant economic opportunities are being created during this process; the rate at which crypto mining is being accessible seems to keep enhancing new business opportunities for tech-savvy people worldwide.
The 3 CONS of crypto mining includes;
Cryptocurrency mining consumes lots of energy during it's process and this is a problem that crypto engineers are trying to curtail due to its danger in the environment.
High equipment cost; the cryptocurrency mining equipments are very expensive to purchase and also costly to maintain. Purchasing and maintaining the crypto machine needs a very large amount of money.
High technical sense of operation; apart from the large amount of money needed in purchasing the cryptocurrency mining equipments, you still need to be a professional or even a expert in cryptocurrency engineering to be able to operate the mining process effectively, else you could be running at a loss.
IN CONCLUSION |
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My advice is forget about the cons and disadvantages of crypto mining and choose to learn about it instead. A lot of potential exist in mining crypto. The cryptocurrency business is a type of business that you can loose all overnight and still gain times ten of all your in one night, it's all about learning and implementing what you've learned properly.
Before I take my exit I would like to invite my friends on Steemit;
To come take part in this contest.
My brother your guve us good example of the mining cryptocurrency lime Bitcoin now a day's they circulate in market as the Father of All crypto but first they Minnie in 2005 so we need to work on all the real mining project by the way your post is so good and Full with details
Best of luck for Next
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