No, cryptocurrency mining is not a get-rich-quick scheme… well, not anymore.

It takes effort, a lot of research, trial-n-error, and whole lot of patience.

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The following example is based on mining profitability on 19 Nov 2017.

**CryptoMinerâ„¢ 1060-8 (8 GPU GTX1060 Mining Rig)**

Cost : $4400

Hashrate (Ether) : 185mh/s

Power Consumption : 730 watts (optimized)

Gross Profit : $398.35 sgd / month

Electricity Cost ($0.2072/kwh) : $110.47 sgd / month

Rig Management ($0.1036/kwh) : $55.24 sgd / month

Nett Profit : $232.64 sgd / month

payback period : 18.9 months

Assumed equipment depreciation : 15% per annum

*Estimation base of Nov 2017 market rate.

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i.e. Eric mines for 2 years and sells his mining rig.

Based on current mining profitability (Nov 2017),

he would have received $5583.36 sgd value of coins,

after electricity & management costs.

He then sold his mining rig for $3080 sgd (30% depreciation).

(P.S. CryptoSG management handles everything*, including selling of rig.

You don’t have to be technical to profit from Crypto-Mining!)

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His total return for the investment of $4400 sgd is $8663.36 sgd.

His total ROI for 2 years is 196.9%.

(P.S. local banks fixed deposit rate is 2% for 2 years).

And if you wanna dive deeper into finance…

Eric receives coins approximately every 2 weeks (let’s just compound monthly),

instead of receiving a lump-sum at the end of 2 years.

Thus the effective annual interest rate is 157.59% (315.18% for 2 years).

http://www.rapidtables.com/calc/finance/effective-interest-rate-calculator.htm

This scenario is based on the event where the mined coins did not raise in price & difficulty for the next 2 years (which is highly unlikely).

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