Cryptocurrency is finally playing its part in the history of finance. Many people world over are investing into cryptocurrencies and are also using them as valid forms of payment. Many governments have recognized them as a legitimate currencies, resulting in their easy adoption among users.
Cryptocurrencies like Bitcoin are increasingly being used for online modes of payments. Even online casinos and poker sites are either using these cryptocoins or planning to use them in the near future. The resounding success of Bitcoin is the fact that it's a decentralized currency which means no government or bank or individual owns the currency or regulates its quantity. This means there's only a limited amount of currency in circulation and the rest has to be digitally mined. This is what lends credibility to the currency and makes it more powerful.
The easiest way to own Bitcoin is to get on a crypto exchange and buy it against fiat currency. Check out the world's largest list of crypto exchanges where you can do so here. The other way to own some Bitcoin is to start mining it yourself. That's right, you can become a BTC-miner. But how does mining work? Mining cryptocurrency is a time-consuming task and requires some serious hardware rig. Here is what it takes.
Getting an ideal Motherboard is crucial to building a good mining rig. It pretty much sets the compatibility for the rest of the mining rig. You have to be sure that it can accommodate the right GPU and also if it can accommodate a number of different GPUs.
GPU (Graphic Processing Unit)
A GPU is the most important part of your mining rig. This determines the speed of your mining. You can choose between NVIDIA and AMD graphic cards but before you buy one, make sure you check that these can be used for mining. Also the more the GPUs you use, the more you can mine. You could also choose the option of buying second-hand GPUs for your mining rig. This will substantially cut down the cost of your rig.
A mining rig will have to be active round the clock and remember that this takes up a lot of power. Be sure to invest in a good power supply that will match the consumption. Also remember that your electricity bill will not be the same. If you want to know more about the costs involved in mining cryptocurrency, you might want to read this article on Forbes.com.
Your rig is going to be working non-stop, firing all those graphic engines. This means that your machine is going to get very hot. Remember to invest in a good cooling system, preferably the liquid kind. This is very crucial for your rig's health.
For your rig to be a complete success, you need a good frame. It should be sturdy and be able to withstand a lot of pressure, heat and the weight of all these graphic cards.
Setting up a rig is really not that difficult as long as you choose the right gear for it. Remember to invest in gear wisely since this piece of machine is going to literally make you money.
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