The alternative investment method of investing in digital coins is becoming increasingly popular due to the rise in these coins' value lately. There are various digital coins in the market now, including the best known Bitcoin, Ethereum, and Litecoin. You can buy and sell these coins on the market at exchanges such as Coinbase.com
Basically there are 2 ways you can invest in digital coins such as Bitcoin, Litecoin, or Ethereum. You can buy and sell these digital coins on an exchange, much like you would stocks or currency. Another way is to actually "mine" for the coins, which involves a fair amount of initial investment in specialized computer equipment, increased power consumption and costs, and time.
- The initial investment for mining the digital coins is around $2100. Some people have spent much more in building large "mining farms" where they have a large series of equipment to mine the digital coins at a faster rate, and their initial investment is much higher. Once your mining equipment is set up, there will also be an increase in your electric power consumption, and depending on your mining equipment this could cost around $40 and up per month. The equipment listed below uses approx. 600 watts and has an increased electric power cost of approx. $40-50 per month.
- Our son has been mining digital coins for awhile, and he has done well. If you are interested, here is a list of the equipment that he has come up with and recommends. Also, we have included information below on how you can purchase each item on Amazon. The products on the Amazon listings below are in the same order as the requirement equipment list.
- AMD Gaming Motherboard
- AMD 3.3 GHz with 4.2 GHz Turbo Octa Core Processor
- Kingston RAM
- Drevo Solid State Drive
- Computer Power Supply Reset Switch
- (1- Set of 6) 6C Powered Rise Graphic Cards
- (6 each) Gaming Video Cards
- Thermal Compound
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