So the real question on everyone's mind
right now is, is it possible to mine profitably in the UK in terms of Bitcoin and the answer quite simply is yes
dependent upon individual circumstances so there are lots of clients lots of our
clients lots of people that we work with who are happily making really quite
handsome sums of money mining in the UK in 2020 under what would be considered
fairly normal circumstances now mining bitcoin specifically on an ASIC Bitcoin
machine those special machines which are just designed to mine Bitcoin if you
plug one of those into your house or to your home and stick it in your garage
realistically forget the idea of making any money that's just not tangible at
this point in time due to normal domestic electric rates people that are
making money in this sector in a domestic or more private type way are
doing it with graphics card mining and instead of chasing Bitcoin directly and
mining all the other slightly smaller coins for a much higher pounds and pence
value and then if they so wish you can convert that to Bitcoin or even keep
those smaller coins so you can still absolutely make a great profit mining in
the UK on normal domestic electric rates if you're looking at Bitcoin however
explicitly mining Bitcoin yes you can make profit but again this is really
where you looking at ultimately the cost of electric is then your massive
variable so even though as a business we don't necessarily mine Bitcoin precisely
because there's lot's of other intrinsic factors with the equipment which we
don't really morally agree with due to the fact that the technology changes
very quickly and it's very hard to kind of keep up with all these huge
technological changes but those issues aside you can make profit with
Bitcoin if you have very very cheap power so here in the UK power costs are
generally quite high on the kind of world stage so if you're producing your
own power through solar hydro wind and anything like that then you might have
half a chance of doing quite well but again irrespective of energy costs if
you can make profit with graphics card mining domestically if you have cheaper
electric on the commercial side as well then you can make even more money mining
the altcoins on cheaper electric there as well so ultimately all that we ever
want is for people to get the best return on investment and what people
fail to understand because you know education is quite hard to to come
across in the wider crypto space everyone's heard of Bitcoin
everybody wants to chase Bitcoin and I love Bitcoin and I want as much as
possible but there are better ways to get Bitcoin than mining Bitcoin directly
you're mostly gonna do much much better mining the smaller coins the Ethereum's
the Raven coins, Z Coins the Grin's mining all the other coins in the ecosystem for
a higher value which ultimately then you could convert to Bitcoin or keep those
smaller coins which generally see a larger rise in price percentage-wise when
Bitcoin moves so the intelligent way is always the best way so that's what we
like to do here at Easy Crypto educate inform and give people the best options
so in a nutshell the answer is yes under the right circumstances you can
absolutely make a great profit here in the UK you just need a couple of secret
ingredients a couple of informations that a lot of people aren't familiar
with and that's what we'd love to be able to disseminate to everyone watching
and also the people that like to work with us so if that's something that you
think you're being tested in give us a shout we'd love to get in touch with you
soon I've been Josh from Easy Crypto I hope this has helped answer some of your
c rypto questions if you'd like to find out a little bit more about the sector
maybe you've got some other questions that are burning on your mind have a
look around the channel leave us a like give us a subscribe and we can't wait to
see you in the next video soon
