How I Make $100 Passive Income Per Day Mining Ethereum!

 EARN MONEY BY MINING ETHREUM 

in today's we're going to be going

over something a little bit different a

bit of a side hustle

that i started doing recently and i'm

going to show you exactly how i'm making

a hundred dollars per day

in passive income with this side hustle

by mining

crypto currencies now i've been mining

coins for a lot of years now i've

managed to build up quite a good

portfolio of coins

but i stopped a couple of years ago

because it didn't it was like not

profitable anymore

but now it's become very profitable

again and i've started mining over the

last couple weeks

and i'm making some really good money so

i want to actually show you exactly what

i'm doing

i just in case you're interested in

getting into something like this right

because it is a pretty good way to make

a side hustle and this is truly passive

income

i don't touch this i set it up once i

leave it alone

and it makes me money now um this

i'm just doing this for fun so i was

actually going to buy some more

cryptocurrency and i thought why don't i

actually go and

build a new mining rig and actually mine

it myself

because in the long run if the price of

crypto stays the way it is

it's going to be extremely profitable

for me so let's talk about exactly what

i'm doing

and how i'm doing this and how you could

potentially get into making money

with mining your own cryptocurrency

specifically at the moment

ethereum is the most profitable one to

mine if you want videos every single

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access to one of my courses so let's get

into this video the first step is what

is actually mining

cryptocurrencies so you've probably

heard of cryptocurrencies bitcoins

ethereum

litecoin what else do i own i've got red

coin a few dogecoins

so there's all of these coins that you

can actually go on mine and essentially

there's these mathematical algorithms

out there and you can use

your gaming pc any type of graphics card

you can use these on things called asic

miners you can use all of these

different types of machines

to mine these coins now as times go

as times gone on it's become a little

bit more difficult

but when the price drops and difficulty

drops and usually

when the price goes up the difficulty

goes up because more people are mining

but if you want to kind of know

more about mining and what it is and how

it works you can simply go and find some

documents on the internet

but what i want to do in this video is

show you exactly how i'm making around

about a hundred so you see here

a hundred dollars per day eight hundred

dollars per week

and three thousand two hundred dollars

per month in my currency

mining ethereum which is the most

profitable coin

at this point of time so my mining rig

we will actually talk about

um i'll show you all of the stats in a

second but my mining rig that i use

is it looks exactly like this and i have

eight rtx

3070 cards graphics cards

now the first step you want to do if you

want to get into mining is you first

want to see what is the prof most

profitable coin to mine

so you can go to um what to mine.com and

the most profitable one at this point of

time is ethereum

then um we have ravencoin vertcoin

we've got all of these coins that you

can potentially mine now ethereum is

going crazy right

now like two months ago three months ago

the the value of it wasn't like half

right but now that it's so high

everyone's trying to mine it and there's

really good money to make

so the next step once you kind of think

what kind of coin you want to go and

mine the next step is to go to a mining

calculator and figure out how much you

could potentially make

from your gaming pc or even if you want

to set up a rig

so i'm at minerstat.com which is this

one here mining

calculator and we're going to be talking

about gpu mining because that's

you you know you've probably got a

graphics card laying around at home

and um there's asic miners which are

like quite expensive and it's a whole

different ball game that's what you use

for bitcoin and

people are starting to use them for

ethereum but if we go to gpu mining

and here you can pick your specific

graphics card

it'll tell you precisely well it's

pretty accurate

how much you're going to make from your

specific graphics card

okay so i'll just wait for this to load

real quick all right so now it's loaded

you essentially want to go down and you

want to find a graphics card that you

maybe have in your computer at home or

something like that now what i'm going

to do is i'm going to actually click on

the one that i have

in my mining rig right now which is the

rtx 3070

and what it will do is will tell me that

i could potentially make these are

different algorithms and mining pools so

you sign up to these mining pools and

start mining

if i was on this mining pool i would

make about ten dollars per day

from one card so if you have one of

those cards in your computer

and just keep in mind that if we go back

here there's lots of different cards

so you can use old school cards you can

use new cards whatever cards you want

um now what i recommend uh so

so yeah i can make ten dollars per day

seven dollars depending on the mining

pool that you're in i'm in this one here

now it does fluctuate quite a lot per

day some become more profitable than

others but you can use a thing called

profit switching if you like

now if i'm going to go down here i'm

just going to go compare

now i'm not necessarily comparing it to

any other card

but what i can do is i can put in a unit

number so

8. so i have eight of these cards and it

tells me exactly

what i'm going to be earning from this

with my card so if we go down here from

eight cards i'm going to be earning 86

u.s per day with my run with my mining

rig which in my currency is over a

hundred dollars per day

so that's how you go and calculate what

you're going to make now once you

actually have your card

um and all that sort of stuff or you

have your gaming pc and you want to

actually go and set this up and

you want to start mining what i do is i

just went to this website here which is

called

minerstat.com i started up a free

account that's not a promotion or

anything

i started up a free account and actually

started doing everything for me i just

plugged it in it found the best pool for

me and it started mining

okay and what you have is these things

called workers here

so this is one of my workers what's the

only worker i have

and you can see um we click on my worker

here and in my worker settings i have

everything here so my um income is

today is going to be around about 85

dollars it's under 100

but it does fluctuate a lot sometimes

it's 60 100 120 but it averages out

over a hundred dollars i have eight

cards running temperatures 50 fans are

at 94 percent

efficiencies at 96 now we do have a

problem with a few of my cards

so if we scroll down here there's two

cards that have low efficiency

so i do need to look at that um probably

an overclock setting so these cards are

overclocked

now these are running at 60 mega hashes

and what this means

is every single card has a mega hash and

this is what's used to mine the coins

and this is how you do your calculations

based off the mega hashes so it's got

all of these kind of like crazy

algorithm calculations here but all you

need to know is

what mega hash does your card um do and

you can find that out by using these

calculators

and then how many you need to get to the

mega hash that you want

so right now i can go down to my hash

rate

and i'm running a total of 484 mega

hashes which is pretty good

that's pretty high but yeah this is how

you can set up this is all automatic

it's all set up it all runs

automatically for me

or you could manually set up pools on

your pc but that's quite difficult to do

you'd have to go and find tutorials on

that

and you can see this has actually

changed again now if i go down to my

balance monitoring and i can actually

click on my balance

it hasn't updated yet um i go to us

dollars

um i have 146 dollars waiting to be sent

out to me

and you can see my today's actually been

a pretty bad day

the my mega hash has been really

inconsistent so i have to chip maybe

that maybe the pool isn't doing very

well today

usually it's a straight line so usually

the blue line is completely straight

and my mega hash stays consistent but it

hasn't in this case

but essentially that's what i'm doing is

going out and mining these particular

um coins now the thing is right when

you're doing this

there is a cost obviously the product

wasn't free for me the mining the mining

or anything or anything like that so the

mining rig cost me ten thousand dollars

i'm going to pay it off in around about

four months if the ethereum price

stays the way it is if the ethereum

price goes up i'm going to pay it off

quicker

but i'm actually not going to be paying

it off i'm going to be holding those

coins

because i bought the mining rig

essentially to mine

coins to hold them for the future and

um if i wanted to let's say i needed

money for some reason i could sell the

rig or cards if i needed to anyway

so it's a pretty good investment because

i'm going to get my money back

one way or another now there's also a

big risk in mining cryptocurrencies

specifically at this point of time so

first of all there's always going to be

there's a risk of the price dropping

okay the next one is ethereum mining

will be obsolete eventually between 2020

uh 2022 and 2023 they

they estimate what's happening is the

algorithms are going to what's called

proof of stake

and you won't be able to mine ethereum

anymore you can still mine other coins

but they won't be as as profitable

i think if i use my rig to mine the next

coin down i'm looking at like 20 bucks

per day maybe

so ethereum is the best of mine right

now

and the mining difficulty is getting

harder

what that means is so essentially the

more people that mine the coin

the harder it is to buy coins and stuff

so in the last week

um the difficulty actually the last

month the difficulties gone from 4.8

a 4.18 all the way up to

5.15 right so it's going up gradually

it's going up

i think in like three month period it's

going up around about 30

so it's like 10 per month okay so the

difficulty

does go up however if you can afford to

go and set up a rig

buy a card or you already have a card

laying around it's definitely worth

going and mining some coins because i

literally set this up in a couple of

seconds

it doesn't take long at all i'm making

around about a hundred dollars per day

in value of ethereum right now

in my currency that i could sell if i

wanted to it's completely

passive income you can see it's changed

again i have these little workers

well there's one worker running for me

right now it's got all of my

um it's got all of my stats

it's easy to follow it's easy to set up

it's easy to run i've even got my power

consumption there so you actually have

to take up power consumption costs as

well which mine's around about a hundred

dollars

per month um but everything is here

everything i need to know

you can even get alerts sent to your

phone in case your rig overheats

but it's been running very very smooth

for the last one day

or we've actually been running it um for

a long time

um but for the last three days we had a

few dips here but it's been running very

very smooth and i've been making over a

hundred dollars a day

with ethereum all right guys so that's

what i've been doing

pretty much in the last few weeks i just

wanted to share this in case you were

interested

in kind of mining you didn't know what

it is maybe this has piqued your

interest

you can go and check out more tutorials

on how you can actually go and mine

coins and

what's the best rig and what's the best

card i just want to show you what i was

doing to make a little bit more

extra passive income in my life as a

side hustle

by mining ethereum if you want some more

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