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Author: Admin | 2025-04-28
To directly buy crypto from exchanges or to mine crypto? Which is more profitable between mining and buying crypto? Well, these questions have no straight yes or no answers. If you ask a profitable miner, mining is the best. To a successful crypto trader, on the other hand, buying directly from a crypto exchange saves you the mining hustle. Here we look at the pros and cons of buying crypto vs buying miners or mining.Buying crypto vs buying miners: Pros of buyingIt’s straightforward. To buy crypto, all you need is to register on an exchange, deposit fiat currency, and choose which, of the over 10,000 cryptocurrencies available today, you wish to buy. Once your fiat currency lands on an exchange, the process of exchanging it with a crypto of your choice takes seconds.Easy to access. Unlike cryptocurrency mining where the process of laying your hands on cryptos like Bitcoin involves running machines, accessing crypto through an exchange is easier.Has a low entry barrier. This is another advantages of buying crypto vs buying miners. You can buy crypto for as low as $5. This is impossible if you go the mining route because you have to invest in mining devices like ASICs and GPUs that cost thousands of dollars.Cons of buying cryptoIt’s an emotional undertaking. Buying coins like BTC and Ether (ETH) requires emotional intelligence to settle on a possible winner. With over 10,000 cryptos listed on Coinmarketcap, the possibility of falling for a scam or a coin with low upside potential is very high.Requires a strategy. Buying a coin means you intend to explore the vast world of cryptocurrency trading. This requires a strategy on when you intend to conduct buy and sell actions and the reasons behind those actions. Without such a strategy you’re headed for disappointment.The loss and profit margins aren’t straightforward. A trade can always turn south despite an intensive analysis.Advantages of mining cryptoBuying crypto vs buying miners: You get virgin coins A miner gets fresh virtual currencies. This is unlike those buying the coins who may end up holding coins with tainted history like they were once held by malicious entities like the North Korean hacking group Lazarus.Become a network contributor A miner helps secure a decentralized network. On the Bitcoin blockchain, for example, they help secure the network in addition to verifying transactions on the blockchain. Miners are also key to increasing a network’s decentralization.Miners
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