With the news always talking about the rise of Bitcoin, more and more people are starting to delve into this field. As they start to look more at the assorted options available for getting into cryptocurrency mining, they are faced with a choice of what type of mining rigs and devices they should start using. The two main choices are the GPU mining rigs and ASIC mining. Before deciding, it’s better to understand what each of these is and how they work, along with the pros and cons of each.
What Is GPU Mining?
The GPU mining rigs utilize video cards to perform their mining tasks. Because video cards are widely available, many people started off mining with them. They could buy a quality video card and set it all up on their own without too much effort. The rig could be a part of a computer that was set up specifically for mining, or it could be used only for part-time mining on functional computer that people would use for other tasks.
These types of rigs tend to be simple, they are easy to keep right in the house, as they are not generally very noisy. In addition, they do not heat up a lot, but they can use a lot of electricity. It’s also easy to sell, since you are essentially selling a video card, not an entire rig. Although, as video cards age, they lose value.
One of the other benefits of this type of system is that it becomes possible to mine many types of cryptocurrencies, not just Bitcoin.
However, there are certainly some caveats with GPU mining rigs. They take a bit of knowhow to install and set up, so if you are not adept at computers, they can be a hassle. They can take up more space than an ASIC, as well. Perhaps one of the biggest issues with these types of miners today is the fact that they are not nearly as profitable as they once were, especially when compared with ASIC mining.
What Is ASIC Mining?
This brings us to ASIC mining devices. These are typically ready to work right out of the box, so all you need to so is turn them on, add your wallet number, and get started. In addition, there are many different varieties and models out there at different price points and with varying amounts of power. They include options such as Antminers and DragonMint. One of the biggest advantages is that they can pay off faster than a GPU mining rig.
Of course, there are some cons with this type of miner, as well. They tend to be noisy, so you will need to have a space where you can keep them that they will not bother you, your family, or your neighbors. They also produce a substantial amount of heat, so you will want to make sure you have plenty of ventilation. In addition, they only utilize one algorithm, meaning you can only mine a single type of cryptocurrency with ASIC mining. Make sure you choose a winning cryptocurrency if you go this route.
Now that you have a better understanding of the differences between these options, you can make an informed decision on which is right for you.