
In the last few years, we started hearing about this new type of digital currencies. Some people consider it a scam, others see it as the future, I support the second claim, it is obvious that launching WEB 3.0 will require a new type of financial technology to along with it, and in my humble opinion, Cryptocurrencies are here to stay and take over. Consider this post as an introductory guide on how to invest in Cryptocurrency in 2022.
In a world where Central Banks are monitoring all the financial transactions of the world, a new solution was introduced in 2009 by Satoshi Nakamoto, a Japanese programmer, it was the bitcoin that ushered in a new age of blockchain technology and decentralized digital currencies.
This new concept took a rapid rise reaching outstanding exchange rates in the past 5 years due to the internet being an independent virtual world people are living in so the need for this type of currencies became a must.
This post shed a light on how to step foot into this enormous world in 2022.
What is crypto mining?

In the next series of explanations and examples, I will use Bitcoin as the default cryptocurrency.
There are two answers to what is mining? The first answer is technical:
Unlike a centralized physical bank, Bitcoin acts as a decentralized banking ledger, a transaction record kept in multiple locations at once and updated by contributors to the network. That record is called the blockchain. The blockchain is updated by adding new blocks of data to that chain, which contains information regarding Bitcoin transactions.
To add a block of new transactions to the chain, miners must compute the correct random numbers that solve a complex equation the blockchain system has generated. Once they do, a set of rules written into Bitcoin’s code awards the miner a certain amount of Bitcoin.
In simple words, I can give a straightforward answer:
On every crypto transaction, your mining machine will perform as a mini bank, with a specified computing power to complete this transaction, and once it is done the miner will get rewarded by the coin he/she is mining.
How to own a cryptocurrency?
There are variant techniques to own one, multiple, or a portion of a crypto coin:
1. The old fashion Credit Card:

Starting with the simplest way to own cryptocurrencies is to get a crypto wallet, like Binance or Coinbase, and a lot more, and buy the coins you want with your credit card, and you can now start to buy and sell and trade coins too. Here is a complete tutorial on purchasing crypto with a Credit/Debit Card on Binance.
You can also earn 10$ worth of Bitcoin if you just Signed Up for Coinbase
2. Mining Rigs:
A typical rig will include all the components of a PC—motherboard, CPU, GPU, RAM, storage, and power supply.
Your earning will be affected by the GPU potential installed on your rig. This power is known by the Hashrate. A hash rate is how many guesses per second your rig can manage. Depending on how much processing power someone’s mining equipment has, they’re able to compute answers at a certain hash rate, which can be anything from Megahashes per second (MH/s), to Gigahashes per second (GH/s), all the way up through Terrahashes per second (TH/s). The rate changes with the algorithm running on the Rig.
Examples:
GTX 1660ti : 29.1 MH/S.
GTX 3060LHR : 34.0 MH/S.
GTX 3090: 125.0 MH/S.
You can check the full Hashrates list on Kryptex.
Profit:

To get an idea of how different configurations of rigs can make you money, visit WhatToMine and check the profit.
In the case of 4 3060 LHR GPU cards will make you approximately 0.000167BTC equivalent to 7.97$ a day.
The rig will cost you approx. 4600$ with all the components installed and ready to mine. In this case, the ROI will be in 19 Months*.
*: this ROI is calculated without investment and by cashing out every month.
Pros:
- Components:
- Availability of video cards.
- The warranty period for the video cards and the components for the rig is 1-3 years.
- You can place it in your house, it’s not noisy and doesn’t heat up a lot.
- You can always sell it – all parts are usable in the average computer.
- Mining:
- You can mine different cryptocurrencies.
- Variety of Mining Software.
- Low electricity consumption.
- Expansion and Investment:
- You can add one graphic card every 3 months with a 4 GPU setup.
- You can finance the rig from its own profit going from a 4 GPU Rig to a 12 GPU rig in 1 Year approx.
Cons:
- The mining rig takes up more space than ASIC(We will learn about ASIC later).
- Slow Payoff.
- Low Hashrate.
- Not made for mining.
3. Asics Mining:

ASIC mining is essentially the process of mining cryptocurrencies like Bitcoin using ASIC rigs. An ASIC miner is a piece of equipment that is purposely built solely for mining. Unlike other types of mining devices, ASICs can only be used to mine cryptos and nothing else.
Examples:
- Whatsminer M31S+: 80Th/s – 3360W ($24.73/day)
- Kadena Miner KD-BOX: 1.6Th/s – 205W ($17.06 / day)
- Goldshell Mini DogeCoin: 185MH/s – 233W ($1.5 / day)
You can check the full hashrates list, Profit, and prices on Asicminervalue.
Profit:
Asic miners are considered more profitable than other mining methods, having the ROI in approx. a year is considered a great investment. Since these machines are built only for mining, the profit is high since all the resources are working for the same goal.
The prices of such machines range from 1200$ to 80000$ with profits ranging from 50$ a month to $5,755.
Pros:
- They are ready to work – no assembly required.
- Easy to set up – you turn it on, input your wallet number – and it works.
- Currently, it pays off faster than rigs.
Cons:
- Warranty in from China (equals “no warranty at all”).
- No spare parts are available. Repair is possible but usually expensive.
- A lot of noise for some machines.
- Mines use one algorithm only, and if it’s not a popular one, the ASIC can go straight to the trash bin.
Case Study:

Budget: 4600$
Components: GPU Rig with 12 slots and 4 RTX 3060LHR 12GB.
Hashrate: 132 Mh/s.
Potential: Mining on 386 coins – 120 algorithms.
Price of one card: 650$.
Profit per Month: 260$.
The rig consumes 0.5A so with a solar system it is great.
If you invest all the profit in the rig, you will have a 12 GPU rig in 15 months, and a profit of 780$ per month so an ROI in 6 months. Investing half of the money will require 30 months to get the full set, but you will have approx 1 Coin of Etherium.
Conclusion:

To wrap up all the info and get an answer on what should I invest my money in, you should answer these questions:
- Are you ready to lose this money; this business is risky and unexpected.
- Is your goal to get a profit in cash?
- Is your goal to invest in Crypto?
- Consider GPU Rigs where you can mine up to 230 coins.
- Mix it up with coins, machines and expand your business.
Cryptocurrencies might be the future of money transactions with a lot of big companies creating their own coins and making them the default currency in their virtual world online. And also, they might be a trend that will fade out soon. The predictions and studies support the first assumption.
I think that regretting losing money is better than not being part of the future, so why not start today, you are not late, less than 5% of the population are working with crypto today.
References:
I hope you enjoyed this review, please comment below your feedback and your ideas for future posts. Check out this review for Systeme.io, the ultimate platform to grow your online business for free.