Technology

Can You Still Make Money Mining Altcoins in 2020?

Altcoins has already managed to dig a great competition to Bitcoins in the cryptocurrency market. Traders seem to love Altcoins, thanks to its super volatility. Once it starts to rise, it is not coming back without touching the moon. Alongside risks, the profits manage to allure traders into mining Altcoins. But, can it make you rich in 2020?

An Altcoin is every cryptocurrency alternative to Bitcoin. With mining differences and coin-distribution methods, Altcoin might differ from Bitcoin in several ways. Altcoin also can create decentralized applications. Bitcoin has been facing a lot of problems that the developers are trying hard to solve. Altcoin helps in making a faster transaction; it is private and so on. Altcoins are playing a very important role when it comes to expanding boundaries of blockchain possibilities. And it also increases the scope of applications. The Altcoin has a lower hash rate. When building a project on top of altcoins, it should be scrutinized as often there are tradeoffs.

Talking about that, you need to put some attention to Aeon in this post. Introduced back in 2014, Aeon is a digital currency, which focuses on privacy. Yes, mining Aeons will get you money even in 2020. If you want to know how to mine Aeon, prefers to read below.

Minimum System Requirements for Mining Aeon

Both CPU and GPU miners work, the choice is all yours what you wish. You need mining software to mine Aeon and the best mining software is the one that supports both GPU and CPUs. A high configuration AMD or Intel CPU and an AMD or Nvidia GPU will satisfy the needs of quality mining. Just for an example, the AMD Threadripper 1950X or above along with a Nvidia GTX 1070 or above will be fine.

Subsidiary Requirements for Perfect Mining

Answering how to mine Aeon does not end along with the requirements said above.

Various other factors work behind it such as:

Stable Wi-Fi Network:

This process of mining Aeon goes on 24×7, so make sure that you have a trustworthy Wi-Fi network connection.

Airy Room Only:

Do not set your rig in a stuffy room. Your machines need a proper room with adequate ventilation.

Protect Your Privacy:

Things can go loud as the mining goes on continuously. A soundproof room is a good option to avoid letting sound annoy others.

Electricity Costs:

You would not want your electricity bills to submerge the money made my mining Aeons. Try to set up the entire rig in a place where electricity is cheap.

Will Altcoins Make Money for You?

Coming to the question of where we started, Altcoins can do make money in 2020. Its value rises and falls with that of Bitcoins, but not always, there is a connection between the two. As said earlier, it is highly volatile nature makes it a better shot for traders.

With everything said, it is still noteworthy that you should have definite research on them first. It will just make you more confident in that case.

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