Litecoin is one of the first open-source altcoins based on the original Bitcoin code. It was initially a strong competitor to the first cryptocurrency. However, as the cryptocurrency market expanded, Litecoin’s popularity gradually declined.
TOP of the most profitable places for bitcoin mining
It is believed that bitcoin mining can become a good business. And it will be profitable only on the condition that the cost of electricity will be optimal and will not exceed your bitcoin earnings. Today, cryptocurrency mining consumes more electricity than many countries in the world. The list includes 178 countries, after which the obvious question is brewing: “Which countries are the cheapest to mine?”.
Kuwait. There is absolutely no shortage of sunlight in this state. There is a lot of solar energy, because electricity is quite cheap. Here, mining one bitcoin costs an average of $ 1,415.
Venezuela. If you do not take into account the constant problems with food shortages, cosmically high inflation, as well as constant interruptions in the supply of electricity, then this country may well take second place in the profitability of mining. Because the cost of mining one bitcoin is $ 1,630.
Myanmar. Here you will stay in a favorable climate, as well as surrounded by stunning architecture, but the costs for each bitcoin reach $ 3087. In 2018, such a price seemed absolutely unattractive. But today, when the price of cryptocurrency reaches more than 10 thousand dollars per bitcoin, the benefit is quite obvious.
China. Bitcoin mining in China now raises many questions, as the country's National Development and Reform Commission (NDRC) calls for the "elimination" of this industry. But so far, there have been no direct prohibitions and for those who want to engage in mining, the extraction of each bitcoin will cost $ 3,645. Taking into account the current state of the market, we can talk about a three-fold profit.
Recommended to read: Which country mines the most bitcoins?
