Crypto Advice

[mikesouth]

Ya itys been a minute but where better to ask opinions than GFY right?

Here it is I have an i7 server sitting around running 24/7 doing nothing demanding I put 2 GPUs in it an Nvidia 1650s and an nvidia 3050, runs fine

I have no experience with cryptos but I figure since its running anyway why not mine some crypto

yes I know its not gonna make a lot of money when power costs are figured in but I wanna learn this anyway so heres nmy questions...you feel free to tackle one or all.

Whats the best wallet? Im leaning towards coin base because it supports a lot of different coins

whats the best mining software for this?

Should I join a mining pool? y gut says yes

and finally what are the best coins to mine at this time with this setup...my gut says etherium but Im open

and last but not least anyone heard anything from DWB lately Id love to get in touch.

Thanks y'all I realize Im kinda askin a lotso I will owe ya a beer or something.

TIA

[todservices]

Originally Posted by mikesouth

Ya itys been a minute but where better to ask opinions than GFY right?

So truuuue
I mean, every opinion here is so intelligent, well-thought and argued
Forget The London Royal Society, excellence and perfection are here on GFY and that is it

[zijlstravideo]

You could install a node which doesn't consume a ton of electricity.

For example, I'm running a SCPrime storage node at home on one of those cheap (low power) mini PC's. Currently generates around $40-ish per month (in tokens).
Site: https://scpri.me/

Also running a Helium "miner", but you're kinda late to the party for that one. Last year, monthly returns of these devices were easily $800+... These days, It's more like $50 to $100-ish, depending on your location and setup (placing the antenna up high might still generate you a few hundred per month).
Powered by a regular 5v usb power adapter.
Site: https://www.helium.com/


If you really want to go the proof of work route like you've mentioned, it's hard even making a profit after the electric bill comes in, even with multiple GPU's, which are expensive. Newer asic miners are still profitable (but again, expensive).

And no, solo mining is not option. You need to join a pool.

As for Ethereum mining, ETH is moving away from proof of work... Slowly switching to proof of stake, so no more GPU mining for Ethereum in the (near) future.

[escorpio]

Far from an expert, but I've used Coinbase and Crypto.com and I very much prefer Crypto.com. Lower fees and better interface.

[zijlstravideo]

Originally Posted by escorpio

Far from an expert, but I've used Coinbase and Crypto.com and I very much prefer Crypto.com. Lower fees and better interface.

I remember leaving my funds on an online wallet/exchange once... Platform got hacked, funds were gone.

Now those two are large ones, and both probably have the budget to refund users in case of a breach, but still... If you plan on hodling, why not just install the official wallets on your PC or whatever, just for safety reasons?

[escorpio]

Originally Posted by zijlstravideo

I remember leaving my funds on an online wallet/exchange once... Platform got hacked, funds were gone.

Now those two are large ones, and both probably have the budget to refund users in case of a breach, but still... If you plan on hodling, why not just install the official wallets on your PC or whatever, just for safety reasons?

Yeah, I think I'm going to get a hardware wallet soon. Seems the safest way to go.

[zijlstravideo]

If you have networking knowledge and don't mind opening up ports, setting up a masternode at home for staking rewards is also an option.
Some ROI examples: https://masternodes.online

[jscott]

re:Wallets
For Bitcoin (mobile) wallets I'd recommend Muun Wallet or WalletofSatoshi, both have LightningNetwork integrated, can send BTC and/or BTCLN.
For crypto hardware wallet definitely suggest Trezor
... here's a list of crypto wallets.

[mikesouth]

Thanks for the advice y'all Im learning this and its interesting....I know I am late to the game but Im not really out to make money so much as understand how it all works.

Can anyone suggest mining software that would support multi GPU and more than one coin type?....and is easily understood by a noob...

I have a wallet at coinbase but I am quickly understanding why a hardware wallet is thye way to go TY again for taking the time to help

[mikesouth]

OK I am seeing it more clearly now I think...different coins require different miners theres no one miner that I can use to mine eth today lte tomorrow and btc or raven every saturday....

it also seems that some coins are better suited to GPUs and others ASICs and so on.

presumably I can mine LTE and or doge and convert the proceeds to BTC using coin wallet but have have a suspicion thats hot the right way to go.

The 5G Helium thing looks REAL interesting but I suspect I need to learn more old school mining first but helium rais3es LOTS of questions I will research

I do appreciate the help here...GFY has always been a good source for info when you cut through the noise. but I gotta admit I do miss the old days