Basic Crypto Overview

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In this introduction we will discuss CEX (Centralized Exchange) like Coinbase, Binance, Kraken, Strike. 

For more information on DEX (Decentralized Exchange) see the Advanced/Leveraged Trading section.  We recommend trading (buying/selling) on a CEX first, as its generally safer and easier to use.

 How does Bitcoin "Pool" or "Solo" mining work and is it worth it? 

Pool Mining: is usually done in cryptocurrency mining farms (large facilities). These facilities can accommodate both the extensive power requirements and heat produced from very specialized (and expensive) miners. 

Some newer models like the Antminer S23 Hyd (cost $25,000) use 11,000W and produce 1160 T/H. No, your home is not going to even come close to powering this type of miner, nor handle the heat load from 11,000W. 

Solo Mining: is usually done with smaller more efficient (electrical usage per hashing rate) in what is called lottery style mining for home and hobbyists miners. The chance of mining a block by yourself is very low, but so is the cost involved while also keeping the Bitcoin network decentralized when running your own Bitcoin node and miners. 

Miners, like the new SoloSatoshi NerdQAxe+ can run at 6TH while using only 100W. The cost is around $400-$500. These miners can be plugged into almost any home or office outlet with no issues with power or heat.

We sell Bitaxe Gammas 1.2TH, NerdQAxe+ 6TH and the Avalon Q (90TH), all of which can be run in almost any home or office. We recommend solo mining Bitcoin lottery style using anything under 30TH. The Avalon Q is better suited for pool mining at nearly 100TH, because it can produce small  monthly profits. The AvalonQ can also be used as a very fast solo miner if feeling lucky!

Cryptocurrency Wallets:

We do not sale hardware cold wallets (for your security you should always buy hardware wallets direct from the manufacturer), but we do have an affiliate agreement with LEDGER itself. Please be sure to purchase using our LEDGER affiliate link below as it helps us keep the majority of our educational content free for you, as well occasional special affiliate pricing discounts on certain LEDGER products.