In January 2018, I was celebrating my birthday at Disney World in Orlando, Florida. I was in line with my friends for the Seven Dwarfs Mine Train Roller Coaster, when I suddenly realized this recreated cavern was as close a representation to what most people knew of as mining. A cave where people (and dwarves) were boring into the earth for gems and precious metals.
When mining for cryptocurrencies, the idea is modeled after the uncovering of precious metals and stones from the earth. This digital mining usually involves proof of work and verification of the blockchain and isn’t done with pickaxes, but with hash power from computers and graphics cards.
The mined cryptocurrencies which you earn can be transferred to your digital wallet for safe keeping.
As I have mentioned before on this website, I’m not offering professional investment advice, but I’m just sharing my thoughts and ideas as a cryptocurrency enthusiast. If you find this topic interesting, like I do, I encourage you to continue your research and consult with an investment professional who understands the local laws in your jurisdiction.
In the words of Warren Buffet, “Risk comes from not knowing what you are doing.”
One of the reasons I decided mining cryptocurrencies was a good option for me, was that I believe in the idea of cryptocurrencies. I may be late to the market, or maybe I’m still way ahead? Either way, I wanted to enter the market in the safest way I was able to discover.
My main 3 options I saw were:
- I could buy and hold a specific coin.
- Actually, I have decided to do this with a few coins. We’ll see how it goes.
- I could trade coins like a investor trades stocks.
- I don’t have the time or inclination to day trade these digital coins like many of my friends do. It seems too stressful for me and I feel that I don’t have the knowledge or experience to be successful using this strategy.
- I could mine the digital coins.
- This mining strategy seemed the best for me because of my busy schedule.
- I can see my accumulated crypto currencies on a daily basis.
- After reviewing several online independent mining calculators, it looked like I could double my initial mining contract deposit within 2 years, (even less time when bitcoin was trading higher).
- Of course, this is not a guarantee of performance, but what I interpreted from the data. I encourage you to investigate the data on your own and ONLY enter the mining market if you have done your due diligence.
With April 15th just around the corner, I feel many people will have some EXTRA money to “invest” from their tax returns. I’m anticipating a spike in the crypto market and wanted to make sure you have enough information to whet your appetite to research this market.
I plan to go into more depth on cryptocurrency mining in the month of May, but here are 2 links below you can peruse until I update this page later next month. There are many cloud mining services out there, but I chose to work with Omnia Tek as my best overall option because I understand the vision they have and where they are headed in this very new market.
- This is a private TEAM resource page which introduces cryptocurrencies like bitcoin and the concept of mining. There are links to videos, mining calculators and other resources: https://www.MyCryptoNation.com/
- This is my affiliate link for Omnia Tech AKA Omnia Tek where I do my mining. It is currently NOT available in the USA, but it is available in most countries around the world. If you have friends and family around the world, please register for FREE with the following link and share your new affiliate link with your global family. I am happy to answer any questions you may have: https://omniatek.com/r/85007