At the moment, the concept of cryptocurrency is a household name, as well as a notion that’s on everyone’s lips. Even a complete layman knows that in order to mine cryptocurrencies like Bitcoin, one needs to have access to incredibly powerful hardware. For years now, the term gaming PC has been used for a device with an outstanding GPU, CPU, and RAM capacity, however, would such a setup be strong enough to cost-effectively mine cryptocurrencies? Let’s find out!
The profitability depends on a card
Technically, you could mine cryptocurrency with any rig out there, however, the fact that you can technically do such a thing doesn’t mean that it would actually be profitable. The very least you need is GTX 1060 or GTX 1070 for NVidia, while for AMD Radeon HD you need at very least 7970 or 9280X. Even RX 460 or RX 470 would work. In other words, when it comes to the GPU requirements, these are the basic minimum. The higher up you go, the greater your profitability gets. Nowadays, with sophisticated GPUs like GTX 2080, you can look forward to even greater profits. All in all, even with a mid-to-high-spec gaming rig, you can get fairly decent results.
In the previous segment, we’ve discussed your odds at making money by mining cryptocurrency this way. The single biggest one is convenience. Mining rigs are incredibly expensive and, chances are, that a gaming PC is something that you already own. This means that, technically, you wouldn’t have to invest in the purchase of this expensive piece of hardware but would be able to start right away.
Previously, we’ve discussed devices that are specialized for gaming and, therefore, equipped with above-average hardware setups. Nonetheless, you can even use a PC with a lower capacity for one alternative form method known as cloud mining. This is a mechanism that allows you to mine a cryptocurrency without having to possess an above-average rig or even install any of the necessary software for the job. Of course, the profits are not nearly as high, nonetheless, considering that your investments are next-to-nonexistent, there’s little to no downside to checking this out.
Now before we proceed to discuss the cost-effectiveness of mining on your gaming PC, it’s important that we briefly discuss the alternative to this setup. Instead of using the computer that was built for your entertainment, you can always invest in a specialized crypto mining device, thus leaving your main device free for its original purpose – gaming. With a supercomputer like antminer and specialized mining platforms and tools, you can make all of this much more cost-effective. Sure, this doesn’t prevent you from using both of these tools for the same purpose but the favor clearly lies in a more specialized tool.
How all of this comes together
Once your hardware is set and ready, what you need is a proper mining software. Here, you can go with something along the line of NiceHash Miner. Keep in mind, that if your expectations are to get paid directly in Bitcoin, you’re in for a bit of a disappointment. What you do here is mine in a group of other miners and get paid for your work. However, you get paid directly into your bitcoin wallet, which is a platform that operates just like any other bank account. Keep in mind, nonetheless, that in the world that’s getting more and more open towards this kind of currency, you can even get a physical card that will allow you to make actual purchases.
The last thing you need to understand is the fact that cryptocurrencies are a commodity, which means that the question of whether or not this is profitable depends exclusively on their current market value. It’s just like with mining gold; you get what you get but how much you’ll get paid for it depends mostly on the current price of gold. Still, with the right setup, you can at least cover your electricity build and future-proof yourself for the inevitable surge in cryptocurrency value.