Do you want to mine crypto from home? This is what you really need to know.

Home mining sounds tempting, but before you spend money on hardware, let me clear up any doubts with the real numbers.

The basics (without so much academic nonsense)

Mining is basically using your computer to solve mathematical problems and validate transactions on the blockchain. In return, you get cryptocurrencies. Sounds easy, right? Spoiler: not so much.

What you need to get started

• Powerful GPU (the RTX 3080 or better, because old processors = burned money)
• Mining software (CGMiner, GMiner, etc. according to the currency)
• Crypto wallet to collect your rewards

Which cryptos can still be mined from home

Bitcoin and Ethereum are already out of the league. The difficulty is so high that you would need entire farms. But these are viable:

• Ravencoin (RVN)
• Monero (XMR)
• Dogecoin (DOGE)
• Litecoin (LTC)
• Zcash (ZEC)
• Ethereum Classic (ETC)

Ravencoin is the favorite now because it consumes less energy and the ROI is more realistic.

The dark side that nobody tells you

The risks are serious:

• The price drops = your profits evaporate. Bitcoin fell 65% last year, just imagine.
• The network difficulty is constantly increasing, so it becomes more difficult each month.
• Your electricity bill skyrockets. Some report +200% in consumption.
• Hardware = high initial costs. A good GPU costs $300-500 USD.

The inconvenient truth

Many people mine because it is exciting, but the real profitability depends on:

• Current price of the crypto
• Cost of electricity in your country (in expensive countries, it's practically a loss)
• Network difficulty increases every 2 weeks

Make sure to do the math correctly before starting. 70% of home miners lose money in the first year.