Pros and Cons exist with all currencies, but the pros still far outweigh the cons in terms of Crypto Currency Mining. Certain supplies are needed before you can begin mining; they will cost you some capital initially. However, once this is done, then there is only profit. Let’s look at some of the advantages of this:-
Bitcoin mining and other cryptocurrencies have several advantages. Your accounts can not be frozen at any time by any bank. Your key is the only way to access your account, so in some ways, it is far safer than physical currency.
It is also impossible to commit fraud or be on the receiving end of fraud in Crypto Currency Mining. The fees charged by various institutions is also much lower than in Physical Cash transactions.
Crypto Currency Mining also leads to large profits and this can be a very important point to consider. We have shown before how large the profits can truly be, and all from a small starting point. You don’t need a lot of cash to invest in Crypto Currency Mining, and that’s what makes it so attractive.
Once you have mined Bitcoins or Crypto Currency, you can spent it immediately. There is no waiting time because of third parties, as transactions are almost instantaneous. This is because of the decentralized nature of Bitcoins and the software.
It also means there is no Identity theft possibly in Crypto Currency mining, as your own wallet can be accessed by a large key which is your own. You can also not be traced by unscrupulous buyers.
What we have ignored so far is the rise of value of Bitcoins in the market. If you mine one Bitcoin right now, you’ll have around 108,968 Rand. This will cost you around 60000 Rand, so you’ll be in quite a lot of profit.
Experts such as senior analyst Ronnie Moas predict that Bitcoins will be valued at around 236,720 Rand by the end of 2019. They are currently worth 108,968 Rands.
However, most people are much more bullish on the future of Ethereum, a comparatively newer currency, and see its value rising nearly 7 times. This would net you an astounding 350,000 Rand, if accurate.
This is why Crypto currency Mining is worth it.