Description: MinerList tracks the profitability and prices of crypto miners. Sign up to get alerted for discounts.
In simple terms, miners solve complex math problems. A miner performs a very high number of calculations per second (measured in hashes per second, AKA hashrate) and if one of these calculations solves the math problem, the miner is rewarded with coins for their efforts.
These coins can be traded on exchanges and directly with other people for money. It is possible to mine coins with very little monetary value, hence the importance of research and miner selection.
Yes, mining is becoming easier to setup and understand, especially with the proliferation of easy-to-use mining tools and miners that require no electrical setup. However, make sure you understand the risks involved. There are no guarantees in mining, or crypto as a whole.