I was thinking about getting one of these small miners, mine a coin and then change the rewards into Reddcoin. I am totally new to this concept, I don’t know if this is profitable right now or if its a good practise at all…
Any thoughts if this is a good idea?
If so, I would love some guidance!
It’s more fun than profit at this point in time. Most POW coins aren’t worth the electricity used to mine the coins. It’s definitely interesting though to see how it works and make some trades. In reality, it’s better to purchase from Cryptsy or some other exchange and hold, but if you have the drive and time to set it up and run it (about 1/2 an hour at most thanks to google), you might as well push the value of other coins down and move ours up
yeah as stated its no longer profitable to buy a miner and mine, its much better to buy rdd and use the wallet to generate more through staking
I am thinking of selling my G blade and buying redd with the money
It was a fun hobby and one I would suggest if profitability is not your short term plan