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MY JOURNEY WITH CRYPTOMINING AND BOOSTING MY EARNINGS

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Article Date: 12/07/17

DISCLAIMER:

Please be aware that all links within this page contains affiliate links. It is how I earn money and boosting my earnings while writing website content and articles. While I'm not offering any no incentive to use my affiliate links it is appreciated. If you do, feel free to send me a message on twitter and I'll return the favour by purchasing some hashpower with your affiliate codes aswell so you can get a free boost to your own (see below notes)....

Like most people who are into new technologies, and money making ideas. There is a modern technology and currency which keeps surfacing which is the modern equivalent of a Gold Rush. That is Cyrptocurrency, and by it's name making money by Cryptomining. The most popular cryptocurrency by far is Bitcoin, it's not a recognised payment currency in a few countries, and it's value has soared. Instead of being worth $1 per coin it's now in the region of $2400 per coin.

Cryptocurrency itself is a volatile currency, but whilst it is unstable and the market can fluctuate a lot, you can see it's potential when so many people are investing in it. They can see it has a future

These are the sites I'm using to take up mining and increase my profits. I am using Cloud Mining (Online) sites, and also using offline methods (by building Hashing Rigs, or Using ASIC miners). Everything is sent to my wallet(s), I use a mixture of wallets such as Jaxx, Exodus, Blockchain Specific Wallets (i.e Dogecoin) and Hardware wallets so I can store most of all. I do trade for a return of investment (ROI), however you need to be aware this is like stocks and shares. You do it for future proofing stakes. Get started early to gamble and make money in the long run. If you're after pure ROI, you need to work on a basis of 6-12 months before you see returns. It's not a get rich quick scheme. There are some coins which you can't mine so I trade them on the market, and aim to hold 100 of each coin that is currently unpopular on the basis it will increase in value in my wallets over time

GENISIS-MINING

GMLogo

I have recently taken up with a contact with Genisis Mining. My personal choice was to mine BITCOIN. It's quite an old coin and still the most profitable. Recently Ethereum was the one everyone was interested in, but it was heavily mined and the price crashed. There is a lot of uncertainty with Bitcoin because in August there was due to be a "Fork" where it was split, however the confidence is still showing after recent events with the price increasing overnight and staying stable.

I personally believe in this, so invested and purchased 20TH/s of mining power (~$2600 / £2100). All the online calculators I have used equate to a return of approximately $500 per month (around £400), however I will constantly need to increase my hashpower. As the difficulty increases each month your earnings will drop. So I will be extracting ~£150 p/m to cover my investment costs, and reinvesting the remaining amount ~£250 p/m and purchasing more hashpower. At the time of writing this article, it was before the Bitcoin fork took place, and Bitcoin was valued @ $2850

All this is compounded monthly (for example SEE BELOW)

Please note the below figures aren't exact, as the difficulty increases exponentially. This is just an example of how I'd reinvest. You have to remember that I'm going to be splitting my coins, I'm not going to be purely mining Bitcoin with my hashpower, I want to mine other coins which I believe in as an investment too. Realistically to maximise profits, you should either invest in one large chunk, or ideally reinvest the amount you make every day. Rather than wait 1 month for the results to be compounded, they compound daily because you're constantly increasing the hashpower each day as you go along

Also the below doesn't take into account the commission I earn for people using my affiliate link.
When people use your affiliate link you get paid 1/40 as an additional bonus in extra hashpower on the basic level

EXAMPLE : If someone buys 20 TH you get 0.5 TH bonus. The base level is a 2.5% commission, it increases the more you sell

  Investment Hashpower Return (EST) Loan Cost Returnable
JULY $2650 20 TH/s $518.05 $195 $323.05
AUGUST $300 22 TH/s (+2 TH/s) $569.85 $195 $374.85
SEPT $349 24.5 TH/s (+2.5 TH/s) $634.61 $195 $439.61
OCT $439 27.1 TH/s (+0.6 & +2.5 TH/s) $701.96 $195 $506.96
NOV $437.5 30.35 TH/s (+1.0 & 2.25 TH/s) $786.14 $195 $591.14
DEC $574 34 TH/s (+1.5 & 2.5 TH/s) $880.68 $195 $685.68
JAN $649 38.5 TH/s (+2.0 & 2.5 TH/s) $997.24 $195 $802.24
FEB $790 44.1 TH/s (+0.6 & 5 TH/s) $1142.29 $195 $947.29
MAR $925 50.6 TH/s (+1.5 & 5 TH/s) $1310.66 $195 $1115.66
APR $1110 58.5 TH/s (+0.4 & 7.5 TH/s) $1515.28 $195 $1320.28
MAY $1400 68.5 TH/s (+10 TH/s) $1774.3 $195 $1579.3
JUN $1400 78.5 TH/s (+10 TH/s) $2033.32 $195 $1838.32
JULY $1950 93.5 TH/s (+15 TH/s) $2421.85 $195 $2226.85

EXAMPLE2 :

I'm currently looking into the best way to maximise profits, and at the moment I'm considering buying in chunks rather than small upgrades and having a limited finance every month simply save up for two months at a time and buy 5 TH of power each time. I'll look into the numbers and post which is better for ROI.

 

BITCONNECT

Another website, this one is seen as a more stable and reliable website to use because it was the first one to appear on the market and has been around for some time now. Additionally it has it's own Cryptocurrency that it trades in.

On this website you have to "Lend" a minimum of $100. I deposited a total of $135 in Bitcoin into my wallet. Once it's inside your BCH Wallet on the website, you get Bitconect tokens by going to the exchange and selling them. After this it's just a case of Lending the money and waiting for daily payouts. As with all investments if you reinvest by compounding your earnings are a lot higher

 

CONTROL-FINANCE (Website currently down - until November - poss gone)

This website operates more like an affiliate pyramid scheme. Basically the more people you refer the more you make. You earn money based on tiers. The 1st level tiers which you refer give you the most, then the tiers which have been referred by people through yourself give the lowest share. The way this site differs is that they use the money to invest into the cryptocurrency market. Deal with caution, the returns are paid daily so participate at your own risk

You don't need to invest any money either if you have a good network of people you can refer, all the investment can be done by them instead. Although it does benefit you as the daily payouts would soon add up. Personally this offers a better ROI than cloud mining based on their "calculator", so I'll be trying this method too to see which works out best. On a $100 investment apparently you will get $30 return per month which is a 3.5 month ROI.