Does Cryptocurrency mining is just like dollar printing machine

Does Cryptocurrency mining is just like dollar printing machine

It was just an eight weeks ago when I first came to know about the cryptocurrencies. I had zero Knowledge about these digital currencies before that.

Whenever I thought to earn money online I had only keyword on mind that ‘How to earn money online' and Google was helping me a lot with giving lots and lots of link of scammed sites.. lol!
I remember that I earned around 15 dollars real money online when I sold my 3d artwork. It was the only whole income of mine through online.

When I first encounter with Crypto

During my online hunt for an alternate earning method, I saw an ad of the website which was offering mining cryptocurrencies and fortunately, I attracted and created my login id. I tried that website which was offering millibitcoin mining just using your personal computer. I installed it and software started showing dollar figure and after the decimal point lot of number was running. Many days I waited and noticed that the only decimal values are changing but the dollar number is as it is there. Then started digging more about the mining process and learned about the Antminers and GPU rig.

AntMiner vs GPU rig

After research, I found that Antminers are more profitable but not suitable for home users especially for those who have the small house. Because it creates big noise and also eats a lot of electricity. And if it will get some technical fault then there is no support available locally.

So I decided that buying the Antminer would be not a good idea. Then I jumped onto GPU and found lots of GPU are available with lots of confusion. Different GPU has a different hashing power and limited to some particular algorithm.

As an Indian guy where 1 dollar equal to 67 Rupees in Indian currency was very lucrative and the Cryptocurrency mining was looking like I am going to install a dollar printing machine at home.

The time when I started learning about bitcoins that time 1 bitcoin was equal to around 7600 USD. But soon I realized that its value is dropping including all other coins like ETH and Monero.

Ahh..so much exciting, even you won't believe that since past few days I didn’t perform well at my office.
But friend, I am still confused and still thinking a lot before buying the hardware. I am confused on buying NVidia chipset or AMD chipset. Although there is a lot of tutorials are available on youtube but I found that most of them are just promoting the card, nothing else.

()

What is my problem actually :

1. Should I buy cryptocurrency or start mining?
2. If mining is good then please suggest the budget hardware.
3. Which currency would be good to mine at this movement?
4. Or do you think that I should keep away myself from these things as it is much risky as I don't have lots of money to invest?

So friends, If you reading this then I ask for help that if you have any suggestion then please guide me. And anything which you may want that I should know you may feel free to share.

Hope you will guide me through your valuable comments.

As you know that I am a new guy here on steam, and don’t have anything to offer you accept my heartful thanks, love, and friendship.

Take care, keep spreading love, peace, upvote, and Steam.

Your friend ,

S. Sinha