Mining vs Buying

Markus Heinze asked 1 year ago

Hi. Love this website. I am fairly new to Bitcoin, but have amazing friends who are experienced. I signed up for Swiss Global and Xapo as my wallet. Now I saw you talking about buying being better than mining. My friends are currently making $182 a day from mining. They accomplished this by investing a $2,000 amount in hash power, then using the affiliate program and reinvesting what’s earned there. Isn’t it better in the long run to mine bitcoins?

1 Answers
Zsofia Elek answered 1 year ago

Hi Markus,
In most of the cases investing in hashpower or cloud mining turns out to be Ponzi schemes at the end or they are just not profitable. We have written an article about cloud mining and another post about specifically reviewing Genesis mining, probably it worth reading these.

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