During this section, we’ll cover what you should do to get started with cryptocurrency mining. A number of the key areas we will focus on are the best hardware and software and the costs you should be prepared for. 


The best hardware for cryptocurrency mining 

As we mentioned before, you would like affordable hardware to mine cryptocurrencies. Different cryptocurrencies use different mining algorithms and this is often also reflected in the mining hardware. 

For Bitcoin and a few select coins, ASIC miners are the simplest because they offer the highest performance and are efficient. However, the most deterrent for new miners looking to start up is cost. 

For example, few can afford the new Bitmain Antminer S19 Pro with 110 TH/s and 3250 W consumption.  This ASIC beast sells for quite $18,000 when it includes the facility supply unit (PSU) and power cables.  this is often too expensive, but it’s the best hardware for mining the Bitcoin SHA-256 algorithm. 

When it involves ASIC-resistant networks, you’ll only mine efficiently with GPU hardware. Nvidia and  AMD graphics cards are the simplest for cryptocurrency mining and are usually used to build mining rigs to get the required range of processing power. 

For example, Nicehash offers a customized 10x NVIDIA RTX 3060 Ti mining rig that achieves an honest  600 MH/s with only 1400 W. One RTX 3060 costs around $399 (INR 32,000) 

When you choose a coin to start mining, the primary step is to find out how much it costs to acquire the hardware. 

Other costs to think about  

While hardware is taken into account as the most important part of mining, without enough power you will not achieve anything. Devices that use more power are more profitable, which suggests higher electricity costs and high-end PSUs. 

You also need to consider how much you will pay for electricity, both to run the mining machines and for the flowery cooling system. Note that ASICs can have fans, but you’ll need to install additional fans for better results, even when building a mining rig. 

The best way to mitigate additional costs is to use cheap electricity and use miners with the highest possible efficiency. 

Start mining! 

Once you’ve got the hardware set up, you’re one step away from mining cryptocurrency. The subsequent step is to download compatible mining software. 

If you’re a Windows user, download a software miner supported by Windows, also as Linux and Mac.  You’ll also mine some coins using your Android mobile phone which then requires mobile-supported software.

We also mentioned that you simply may need to join a mining pool. Select one and proceed to configure the mining software, hardware connection to the pool and network you would like to mine. Once you’ve got your wallet set up, your software configured, and your hardware turned on, start mining. 

Mining Solutions/Services 

Mining has become too complicated on some networks, therefore the best alternative for most people is to join mining pools. A mining service or provider allows multiple miners to mix hardware power and mine cryptocurrency as a single unit with a significantly higher hash rate. 

The most important tip when looking to get involved in a mining pool is to make sure you choose one that will guarantee you a reward for your efforts. 

One factor to think about is mining fees. The typical fee should be 1%. It’s important to pay attention to this because you want to save on costs and increase your income. 

Server location is additionally important. By choosing a server that’s closer to you, you increase the prospect of generating more valid blocks. If the servers are located in a country where electricity is cheap, you’ve got the added benefit of reducing costs. 

The mining pool must even be trusted. Established pools are often reliable. If you would like to join a  new pool, thoroughly research what the mining community has got to say about them. 

In addition, you ought to consider a payout scheme. Some are focused on luck, while others even share rewards. Some include high risk but reward their miners handsomely. 

Other factors you ought to consider are the pool’s uptime, minimum payout, and therefore the pool’s overall hashing power. 

There are several mining pools to settle on, with the simplest options depending on the coins you want to mine. During this case, do touch research on the coin in question and see which pools are the best for that cryptocurrency. 

What if you would like to mine cryptocurrency but don’t want to buy the hardware or run it yourself?  

Cloud mining service allows you to rent a hash rate and mine for a given period as agreed within the contract. It removes the responsibility of acquiring and running mining machines, with the additional advantage of being able to mine any coin at a price that suits you. 

However, cloud mining has its weaknesses that you simply should pay close attention to before purchasing contracts. The prevalence of fraud in this industry is alarming. If you do not do your due diligence, you’re likely to fall victim to them. 

Some cloud miners can also take advantage of your naivety and pay you less than you’re worth. Others can terminate your contract as they want. It’s therefore important to read all the clauses in the contract before signing. 

With that in mind, the simplest cloud mining services on the market include Genesis Mining, HashFlare,  NiceHash, and Hashgains. You’ll also research a specific coin to see which cloud mining service is supported.

Please find the list of authentic Unocoin accounts for all your queries below:

Disclaimer:Crypto products are unregulated as of this date in India. They could be highly volatile. At Unocoin, we understand that there is a need to protect consumer interests as this form of trading and investment has risks that consumers may not be aware of. To ensure that consumers who deal in crypto products are not misled, they are advised to DYOR (Do Your Own Research).

What is crypto lending?

Cryptocurrency Lending is the process in that cryptocurrency is loaned to borrowers in exchange for regular interest payments. Payments are made in the form of cryptocurrency, which is usually stored and totaled on a daily, weekly or monthly basis.

There are two main types of cryptocurrency lending platforms: decentralized cryptocurrency lenders and centralized cryptocurrency lenders. Both offer access to high-interest rates, sometimes as high as 20% annual percentage return (APY), and both typically require borrowers to post collateral to access a crypto loan.

What is crypto lending?
What is crypto lending?


  • Cryptocurrency loans pay high-interest rates for deposits.
  • Crypto loans offer access to cash or crypto through secured loans.
  • Crypto loans are inherently risky as a margin call may occur if asset prices fall.
  • Cryptocurrency lending platforms act as intermediaries for lenders and borrowers, and both centralized and decentralized markets are available.

Understanding Crypto Lending

Cryptocurrency lending platforms offer investors opportunities to borrow against stored crypto assets and the ability to lend cryptocurrencies to earn interest in the form of crypto rewards. Lending platforms became popular in 2020 and have since grown to billions in total value locked up on various platforms.

  1. Cryptocurrency loans have two components: deposits that earn interest and cryptocurrency loans. Savings accounts work much like a bank account. Users deposit cryptocurrency and the lending platform pays interest up to 8% APY (depending on platform and cryptocurrency). The platform may use the deposited funds to lend to borrowers or for other investment purposes.

2. Crypto loans are typically offered as secured loan products that require users to put up a minimum of 100% (and up to 150%, depending on the lender) in crypto collateral in order to borrow cash or cryptocurrency.

3. Like traditional loans, interest rates vary by platform and require monthly payments. Unlike traditional loans, cryptocurrency loan terms can be as short as seven days and as long as 180 days and charge an hourly interest rate, like Binance.

4)Then there are other lenders that offer an unlimited line of credit instead, such as Nexo, which offers 0% APR.

Risks of cryptocurrency lending

Cryptocurrency loans are inherently risky for both borrowers and lenders, as loans and deposits are tied to the ever-volatile crypto market. As the recent Celsius debacle unfolded, billions of dollars in deposits were frozen overnight, leaving crypto enthusiasts less than thrilled.

Here are some risks of crypto lending:

Margin calls

When users pledge collateral and borrow against it, a decline in the value of the collateral posted may trigger a call for additional payment. This happens when the LTV of the crypto loan falls below the agreed rate. When this happens, borrowers either have to put up more collateral to bring the LTV down again or risk liquidation.


When crypto assets are stored on crypto lending platforms, they usually become illiquid and cannot be accessed quickly. Although some crypto lending platforms allow lenders to withdraw deposited funds relatively quickly, others may require a long waiting time to reach them.


Cryptocurrency lending platforms are not regulated and do not offer the same protection as banks.

 For example, bank deposits in the US are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 per depositor, and if the bank becomes insolvent, user funds are protected up to that limit.

 Cryptocurrency lending platforms that have solvency issues have no protection for users and may result in loss of funds.

High-interest rates

Although some crypto loans offer low rates, most crypto loans charge more than 5% APR, with some charging up to 13% APR (or more).

Please find the list of authentic Unocoin accounts for all your queries below:

Disclaimer:Crypto products are unregulated as of this date in India. They could be highly volatile. At Unocoin, we understand that there is a need to protect consumer interests as this form of trading and investment has risks that consumers may not be aware of. To ensure that consumers who deal in crypto products are not misled, they are advised to DYOR (Do Your Own Research).


The highly volatile crypto market may experience some dramatic changes in the most popular cryptocurrency known as Bitcoin (BTC). After a drastic drop from USD 69,000 to USD 17,000, the price of BTC started flying a bearish flag in the crypto market. This cryptocurrency goes through short-term volatility when CPI (Consumer Price Index) numbers are released. However, CPI has been observed to loosen every month while Bitcoin was affected in July 2022. CPI tends to prompt Bitcoin cryptocurrency investors to adjust their crypto market status accordingly.


Bitcoin had this big crypto crash in the crypto market due to extreme market conditions like high inflation rates and many other external factors. The CPI release event may shift the dynamics of the crypto market with high inflation, which is a hot and trending issue around the world, especially in the financial sector. It forces crypto-investors to shift portfolios while causing massive volatility in the BTC community.

At the time of writing, the current price of BTC cryptocurrency is $18,785with a market cap of $406.30 billion and a volume of $25.13 billion. It has reduced the appeal of the cryptocurrency while carrying the bear cryptocurrency flag. It is very beneficial for short-term investors with a buy-the-dip strategy, but for long-term BTC investors, it represents a huge losing opportunity. Bitcoin was able to increase the price of its cryptocurrency from June 2022 to July 2022, i.e. from 17 thousand USD to 21 thousand USD.

It has been speculated that the higher the US CPI, the greater the pressure on the price of BTC – with the corresponding effect of the US central bank’s tight policy on further interest rate hikes. CPI is being watched very closely by crypto investors as its use as a hedge against inflation by more crypto investors has risen to an all-time high.

Meanwhile, the CPI is known to measure the rate of inflation in an economy, where rising inflation affects the declining standard of living of the population. It tends to increase the price of goods with less production, leading to huge job losses. CPI rose 9.1% from June2021 to June 2022. Higher interest rates can cause demand for Bitcoin to decrease by making interest-bearing securities more attractive. It can affect the price of the cryptocurrency while also curbing inflation with a shift in liquidity – more volatility and the price of the cryptocurrency will be negatively affected. Bitcoin will continue to struggle under a high rate of inflation as well as a very low ecosystem liquidity.

Inflation is currently being watched very closely. Not only has inflation driven interest rates much higher, but Fed Chairman Powell made it clear in a speech in August that the Fed is unlikely to ease rate hikes until it is very confident that US inflation is well under control. Powell noted that even the positive CPI report in July was insufficient to give the Fed confidence that inflation was indeed moving back toward the Fed’s 2% target.

Whatever the upcoming CPI report says, it remains likely that the Fed will raise interest rates by around 50 to 75 bps at its next meeting, but this data may influence the Fed’s medium-term thinking as we look to Fed meetings later this year and early this year. 2023.

Consumer prices rose 8.3% y/y last month, slowing slightly from an 8.5% y/y rise in July. Economists had expected CPI of 8.1% year-on-year. This is not what investors were hoping for, with Bitcoin following the decline in the stock market, with futures on the Dow Jones Industrial Average and his S&P 500 plummeting after the data was released.   The Federal Reserve has aggressively tightened financial conditions in 2022 to combat the highest inflation in decades. Bitcoin has fallen more than 50% this year amid a sale of risk-sensitive assets. Traders wanted to see signs that inflation had peaked or had calmed down. That would ease pressure on Federal Reserve officials, who have reiterated their commitment to keeping prices down, ahead of the next interest rate decision after the Sept. 20-21 meeting. I should have.

Please find the list of authentic Unocoin accounts for all your queries below:

Disclaimer:Crypto products are unregulated as of this date in India. They could be highly volatile. At Unocoin, we understand that there is a need to protect consumer interests as this form of trading and investment has risks that consumers may not be aware of. To ensure that consumers who deal in crypto products are not misled, they are advised to DYOR (Do Your Own Research).

How To Set The Right Crypto Investment Goal Strategy

How To Set The Right Crypto Investment Goal Strategy
How To Set The Right Crypto Investment Goal Strategy

1. COST AVERAGING Cryptocurrency Investment Strategies for Beginners:

Most newbies follow this type of Investment strategy for cryptocurrency trading. A cost averaging strategy means buying cryptocurrency for a fixed amount at regular intervals like SIP investing in mutual funds. In this case, investors do not look at the current price or market conditions, they only continuously buy cryptocurrency after their designated time interval. To do this, it is easy to set up a plan to buy cryptocurrency every month. Such that you could pin a schedule where you buy a specific amount of cryptocurrency on the 5th day of every month known from cryptocurrency news.

2. BALANCED PORTFOLIO Cryptocurrency investment strategy

A balanced portfolio strategy means that you would invest the same amount of rupees for each currency you are interested in.

This means if you have Rs.10000 to invest and you would like to invest in Bitcoin, Ethereum, XRP and ADA, then according to this strategy, you should buy an amount of Rs.2500 for each currency. And further investments will be divided equally between all currencies.

Is Cryptocurrency Investing Legal in India in 2022?

Even though cryptocurrency is not legal tender in India, it does not mean that cryptocurrency transactions are illegal. So, if you have invested in any form of digital currency and are reaping profits from those investments, be sure to include it in your tax return.

Following this type of strategy, you cannot maximize your investments in cryptocurrencies that earn more than other currencies. But since one won’t know which type of cryptocurrency works well, it will help to gain knowledge about diversification.


This is a strategy where one can almost maximize their profit per investment provided which type of cryptocurrency performs well. With this strategy, one can invest in cryptocurrencies based on how well they think about the performance of each currency in the market.

For example, if someone has Rs.10000 to invest and would like to invest in Bitcoin, Ethereum, XRP and ADA. And if he knows that Bitcoin will perform well for the rest of the time, he would invest more money in it than others. So in Rs.10000 he invests Rs.4000 for bitcoins and Rs.2000 equally in the rest. And other investments will be divided in the same above amount among all currencies.

The downside of an unbalanced portfolio strategy

The disadvantage of this strategy is bad information because this strategy depends on prediction, so if your analysis was not good, you can lose. On the other hand, if you invest less in the best-performing cryptocurrency compared to the rest, you may fail to maximize your profit.


If an investor is making a reasonable profit and has a great portfolio in cryptocurrencies, he can prepare to invest in other types of cryptocurrencies that are also doing well because many types of cryptocurrencies are emerging.

Using this strategy, investors can take a certain amount of money from profits and invest in others to earn more and diversify their portfolios.

For example, let an investor buy a 5 ‘X’ cryptocurrency for Rs.3000. And now the price is Rs.3500 each so he will get a total of Rs.2500 as profit.

(5×Rs.3000)= Rs.15000

(5×Rs.3500)= Rs.17500

(Rs.17500 – 15000)= Rs.2500

Now he could take 1/2 of Rs 2500 and invest in ‘Y’ cryptocurrency. Profit reinvestment is a suitable strategy for those who want to stay within a limited amount of investments at all times. If someone is growing their portfolio based on results only, then this is a great strategy to increase the initial investment amount.

How can I buy cryptocurrency in India in 2022?

Download the app or log in to the Unocoin website, also in the Google Play Store. Fill in details to open an account and complete KYC. This allows you to set up an account and add funds in INR (Rupees). Once you have added funds to your account, you can start buying cryptocurrencies from the “Exchange” or “Instant” tab.

Please find the list of authentic Unocoin accounts for all your queries below:

Disclaimer: Crypto products are unregulated as of this date in India. They could be highly volatile. At Unocoin, we understand that there is a need to protect consumer interests as this form of trading and investment has risks that consumers may not be aware of. To ensure that consumers who deal in crypto products are not misled, they are advised to DYOR (Do Your Own Research).


The figure indicates the number of panelists who provided a forecast within the range. Sources are from finder.com


Arcane Research analyst Vetle Lunde comes in with a year-end forecast of $20,000, slightly below the panel average of $25,473. While they recommend holding on to your BTC, they also warn that there could be more confusion about cryptocurrencies:

“Rising interest rates and tightening balance sheets forced initial downward pressure in an environment of high correlation with US stocks. The Luna/UST collapse had a huge impact on various funds and lenders, causing contagion and the collapse of 3AC. Further tightening and unwinding of bad crypto debt will cause another period sober and investors should strap in for more difficulty.”

John Hawkins, an associate professor at the University of Canberra, also makes a below-average prediction for BTC at $10,000 at the end of 2022. However, he sees the coin as a failed experiment and is one of a minority of the panel that says it’s time for people to sell:

“BTC is clearly not a store of value due to its price volatility. It’s not a medium of exchange – hardly any stores accept it. It’s not a unit of account – the only thing valued in it is other cryptocurrencies. So it’s not money or really a currency, it’s nothing other than a speculative bubble in the process of imploding.”

However, it’s not all doom and gloom. Gavin Smith, General Partner of Panxora Hedge Fund, thinks BTC will close the year at $48,000. He expects that “the second half of 2022 will be characterized by waning pressure for higher rates combined with a negative real yield. Together, these factors should be constructive for Bitcoin’s price development.”

Fred Schebesta, the founder of Finder, thinks that BTC will be worth $75,000 at the end of 2022 and sees its current price as a reaction to what is happening in other markets rather than a reaction to the “value” that BTC provides :

“The market is scared at the moment. However, “technology has not changed and is still going strong. Bitcoin is following the decline of other parts of the economy, but I strongly believe that it will bounce back.”

A popular reason for those who say it’s time to buy BTC is its usefulness as a store of value, similar to gold.

Desmond Marshall, MD at Rouge International and Rouge Ventures, thinks now is the time to buy, saying that in the cryptocurrency world, “BTC is the only one that could be compared to a safe haven asset (like gold)”.

Niraali Patel, Investor Relations and Communications Manager for CryptAM, also says it’s time to buy BTC. He likens the digital asset to gold:

“We need to think about the long-term implications of Bitcoin and Proof-of-Work cryptocurrencies. Once mined, it will be the next major store of value like gold once was. The halving is due in 2024, and that will, by definition, increase the USD price of Bitcoin by quite a lot. For this reason, I believe it’s time to buy. Once the halving happens, BTC will be worth at least $100,000.”

Ramani Ramachandran, CEO and co-founder of Router Protocol, is in the camp, but also cites the halving as an upcoming opportunity for investors: “If we’ve learned anything in the past, it’s that Bitcoin will have its next run after this halving, which is to take place in 2024.”

Lee Smales, an associate professor of finance at the University of Western Australia, is one of a handful of panelists who say it’s time to abandon BTC because it’s not the inflation shield it once was thought to be.

“Investors will continue to shift away from risk assets, with the riskiest assets suffering the most fundamental declines,” says Smales. “The past few months have shown that cryptocurrency acting as a hedge against inflation is a fallacy.”

Carol Alexander, professor of finance at the University of Sussex, goes a step further when she says that “Bitcoin is purely speculative [and] has no utility value for Web 3 development”.

Bottom Line

If you are considering buying Bitcoin (BTC), the most important points to keep in mind are to do your research and understand all the risks involved. Although this digital currency has brought significant returns to its early adopters, it is no guarantee of future growth.

If cryptocurrencies can continue their push into the mainstream and gain widespread acceptance not only among consumers but also by governments around the world, this could mean good things for Bitcoin. And if the scalability issues facing the Bitcoin blockchain can be successfully overcome, there seems to be potential for future growth.

However, do not forget that the cryptocurrency sphere is still crowded and Bitcoin will certainly face a lot of threats to its title of the world’s number one cryptocurrency from a number of well-known and professionally supported competitors. Watch this space to see how it all develops.


Please find the list of authentic Unocoin accounts for all your queries below:

Disclaimer:Crypto products are unregulated as of this date in India. They could be highly volatile. At Unocoin, we understand that there is a need to protect consumer interests as this form of trading and investment has risks that consumers may not be aware of. To ensure that consumers who deal in crypto products are not misled, they are advised to DYOR (Do Your Own Research).