Is crypto mining safe in India?

gopal

I want to mine crypto as I have a gaming desktop with a high-grade GPU. Should I go for Bitcoin mining or is there any other cryptocurrency that I can mine safely..

raman

Crypto mining is totally safe in India but not as profitable as it used to be. Mining hardware is very difficult to get because of taxes. Further, if you try mining with GPUs, the electricity cost itself would be very expensive.

harsh

Crypto mining safety depends on the coins that you wish to mine. There is very high competition in Bitcoin and Dogecoin mining, but these are also the safest to mine. Other mineable cryptocurrencies have questionable security where many times the owner of the project rug pulls and steals all the funds.

gulab

Mining was safe when there were a lot of cryptocurrencies using the proof of work consensus mechanism. However, since most cryptos are transitioning to proof of stake or have already transitioned, the remaining cryptos that can be mined have questionable security protocols. It is best to stay away from mining currently.