How to start investing in crypto, Bitcoin or Ethereum by mining at NiceHash?

In this article, we are going to talk about investing in crypto. If you are not investing in crypto now, you are probably going to be sorry in 10 years. But how do you invest in crypto? Is buying Bitcoin or Ethereum the only way to invest?

DISCLAIMER: This is not investment advice. Content is intended as educational material.

Ways to invest in Bitcoin?

Using established Cryptocurrency Exchange to invest in crypto

People that are trying to get their feet wet with crypto and Bitcoin, normally create an account on an established exchange like NiceX and buy cryptocurrencies by spending fiat money.

The great thing about crypto exchanges is that you can start without any fuss. Create an account, complete KYC, send money to the exchange and buy your first Bitcoin.

Start Trading

Pros:

Buy with fiat money
Start in couple of minutes
Can use a mobile app
Low fees
Altcoins

Cons:

You get what you pay for
Can take couple of days for wire transfer

Using exchanges is a great way to start investing in crypto, but it is not necessary the best way. Read on to learn about other ways of investing into crypto.

Using Bitcoin ATM to invest in crypto

This is another option to buy your first Bitcoin. It might be the easiest way to get your first Bitcoin as it does not necessarily require KYC, it also does not require the wire transfer to come through as you can normally use cash or credit card.

But this comes at the price. Bitcoin ATMs have high fees. You can find Bitcoin ATM fees to be around 10%. This is a huge amount if you compare it to cryptocurrency exchanges where the fee is around 1% while NiceX offers progresive fees down to 0.01%.

Pros:

Buy with cash or credit card
No KYC
Fast

Cons:

You get what you pay for
Extremely high fees
Geographical inaccessibility
Usually less supported coins

Using NiceHash for Mining Bitcoin and investing in crypto

This might be an optimal solution for all the people that already own a gaming, content creation PC, or workstation. It is of course also viable for all people with mining rigs.

At NiceHash you can sell your hashing (compute) power of your PC and get paid in Bitcoin every 4 hours!

Start Mining

When it comes to mining, we have an initial investment, which we will ignore for sake of simplicity (one might already own a PC or workstation for other reasons). After the initial investment, we will only pay for the costs (electricity cost) of mining. Normally the monthly cost is lower than the revenue. This obviously means that we are making profit.

If we take a look from the investment perspective, we pay $50 per month for electricity and earn $75 in Bitcoin from mining, that means that we effectively paid $50 for $75 in Bitcoin. You can check the current profitability of your hardware on our profitability calculator.

Opposite to using cryptocurrency exchange and ATM where you pay $50 to get $50 in Bitcoin. Add an exchange fee on top of that, and you actually get less than what you paid for.

This is a great way of saving or investing in crypto.

Pros: