Mining Crypto Currency in India by Techaroha Solutions Private Limited

Introduction


Cryptocurrency based on BlockChain technology like Bitcoin, Ether and technology behind that is making a buzz nowadays.Though it’s a bit late in India it has the good presence in developed countries like USA, UK, Japan. China is also getting a lot in cryptocurrency.Still it’s a best time to start Mining Crypto Currency in India.

What is Cryptocurrency?

A cryptocurrency (or cryptocurrency) is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of additional units of the currency .”      

Seems difficult to understand, let’s understand in the layman terms, cryptocurrency is nothing but our regular currency like Rs or Dollar which can be used to purchase good and can be exchanged. When we compare the cryptocurrency with our know currency many questions arises.

  1. Who issued the currency?
    The currency like bitcoin was created by Satoshi Nakamoto(Not known whether he is an individual or a group).They defined the rule by which it can be created or exchange. Not its managed by millions of computers by millions of community member. So we can say billions of computers are managing the currency and community members can be termed as the miner.
  2. Who is controlling it?
    No is controlling cryptocurrencies like Monero, Zcash, Ether or Bitcoin. , it’s managed by the community with the millions computer connected in a peer to peer network.
  3. How does it look like?
    It’s not physical, definition itself say’s its digital asset which has value depending on the market demand and supply.
  4. How an Individual or Organization holds the currency?
    Individual or Organization holds the cryptocurrency in the digital wallet created by them. One can open as many wallets as possible. No one is monitoring.
  5. Is it legal?
    Yes, it is. Many countries are using digital currency as a medium of exchange, many countries are planning to launch their own digital currency. China and Russia will be the first as per current news. The major concern is tracing and many governments are working on that.


    What is Cryptocurrency Mining


    Let’s start with a simple example of current banking System

    “ Suppose User “A” wants to transfer the money to User “B” he uses online Banking System to Transfer the funds. Here Bank is the centralized authority that maintains the ledger and confirms the transaction against a small transaction fee.”

    But in digital coins no one is the central authority, every computer that runs the bitcoin or monero node is the authority and he approves the transaction.So a very small fraction of the transaction amount goes to the computer owner who confirms the transaction. That computer owner is termed as miner and process is called as Crypto Currency Mining.

    You can also say “Your Powerful Computers are Miners you can decrypt and approve the transaction.


    Major Investment in Mining around the Globe


    Just look at the Graph of Bitcoins.

     

    Graph of Crypto Currency Bitcon Techaroha Solutions Private Limited
    Graph of Crypto Currency BitconTecharoha Solutions Private Limited

    You will see in the span of 1 Year bitcoin has jumped from 700 USD to 3600 USD. No investment in the industry can give this kind of returns.

    With so much demand of bitcoins and another cryptocurrency, many major global companies around the globe are investing in Cryptocurrency Mining to earn a share of their fortune.

    The best part of cryptocurrency mining is even the smallest player can enter the segment and get his due share for cryptocurrency mining.

    Let’s Look at Major Companies who invested in Cryptocurrency Mining.(Mark my words they didn’t invest in bitcoin they invested in the Bitcoin mining)
    “GMO Internet Group a listed company in Japan invested 3 Million in Bitcoin Mining”

    “China has invested to harness 60% bitcoin mining power.”

    “GB Miners from India has reached the hashing power of 190 PH/s.”


    Why Should we Mine Cryptocurrency


    Crypto currency is the market is growing from 2009. Initial investor earns the huge profit with bitcoin. There are two ways to earn cryptocurrency like Bitcoin, Monero, Ether, Zcash and Dash.

    1. To Purchase Crypto Currency from the Exchange Market
    2. To Start Mining

    Keys benefits of Mining Crypto Currency over purchasing them

    1. The computer is just the one-time investment and you can mine throughout your life.   
    2. With a very small investment, you can earn many coins over a long run.
    3. Cash required for mining is much much less than what required for Purchasing cryptocurrency.


Which are the best currencies to Mine?


“Mining Bitcoin is not possible for small miners because of so much competition you require very very strong high configuration machines which may cost in crores(Rs. 10 Million).”

There are many currencies which can be mined or purchased. Before purchasing or mining any crypto currencies following thing should be considered.

1. The number of exchanges where the currency is accepted. There are many exchanges like coinbase, localbitcoins, shapeshift etc.

2. Its Popularity, like any stores or online retails where it’s easily accepted and it can be exchanged against bitcoin.

3. Its user base and the number of nodes.

On the basis of our analysis, these are major currency which is good to mine depending upon your hash power.

Bitcoin Mining in India with Techaorha Solutions Private Limited
Bitcoin
Ether Mining in India with Techaorha Solutions Private Limited
Ether
Monero Mining in India with Techaorha Solutions Private Limited
Monero
Zcash Mining in India with Techaorha Solutions Private Limited
Zcash
Dcash Mining in India with Techaorha Solutions Private Limited
Dcash
Ether Classic Mining in India with Techaorha Solutions Private Limited
ETC
Litecoin Mining in India with Techaorha Solutions Private Limited
Litecoin

 

 

 

and much more…


How to Mine Cryptocurrency?


We assume you have understood cryptocurrency and mining as well.So let’s see how can we mine Cryptocurrency.

1. Solo Mining
Solo Mining requires your own hardware infrastructure and administrative knowledge for installation of Software.Earning in Solo mining takes a lot of times. Block may be found in a day or month or year all depending on how powerful is your hardware and what’s the competition. All the rewards earn in solo mining goes to the owner.

2. Pool Mining
Pool mining is like many miners combining their hashing power to form a pool and start mining. Whatever reward is earned is distributed among all the miner via pooling software. Pool Mining ensures the miners get the award on the daily basis and reward is created into their account daily.


Get Local Currency from Crypto Currency


There are many exchanges where cryptocurrency can be exchanged against dollars and japanese yen.In india we can exchange the same in foreign exchanges ge the dollars in our account via PayPal.

In India there are many online exchanges available for Bitcoin and Ether. Ether not being so popular.

Other way around is we can easily convert the crypto currency into Bitcoin using foreign exchanges and can trade the same bitcoin in the local exchanges of India. The local exchanges in India like https://www.zebpay.com/ requires your ID/Address Proof along with Pan Card.


Mining Rig(Big Computers)


Here comes the most important aspect of Mining CryptoCurrency . Computers. Not the regular computer. Mining cryptocurrency requires the heavy computer with the log of graphics card and a good motherboard. This is termed as “Mining Rig”  See the image below

Mining Rig by Techaroha Solutions Private Limited          Mining Rig by Techaroha Solutions Private Limited

Generally, mining rig consists of Motherboard and up to 6-12 Graphics Card. A processor dedicated RAM and a power supply.

They are not enclosed in the cabinet, this to ensure that rig gets enough ventilation.


Cost Involve


Major investment in Mining is the purchase of good Computer i.e a Good Mining Rig. Mining rig can be custom made as per the requirement and investment capacity and potential to runs. The same mining rig gives the different hash rate for different currencies depending upon the algorithm being used, competition and difficulty level of block. Below are the details of configuration and their approximate outputs and returns.

 

TAM01 Configuration
 

  1. Intel or Corresponding AMD Processor
  2. Asus Gaming MotherBoard
  3. 8 GB Ram
  4. 1070 or RX570 Graphics Card 4 Pieces
  5. Mining Rig Case
  6. High End 1300W Power Supply
Hash Rate and Earning Potentials of Various Crypto Currency Mining

Zcash
Hashrate : 0-1.5 Kh/s (Approx)Earning Per Month :  Rs.6000/- ApproxInvestment Recovery Period : 28 MonthsLink for Calculation Zcash Profit
Monero(XMR)
Hashrate : 0-2.4 Kh/s(Approx)Earning Per Month : Rs. 6000 Per MonthInvestment Recovery Period :28 MonthsLink for Calculation Monero Profit

Note: Graphics Card model/make will be changed or modified to bring the required hash rate during installation. All calculation as done as on September 2017 , this will change with time.

Cost : Rs. 1,80,000/-   

 

 

TAM02 Configuration
 

  1. Intel or Corresponding AMD Processor
  2. Asus Gaming MotherBoard
  3. 8 GB Ram
  4. 1070 or R570 Graphics Card 8 Pieces
  5. Mining Rig Case
  6. High End 1300W Power Supply
Hash Rate and Earning Potentials of Various Crypto Currency Mining

Zcash
Hashrate : 4 Kh/sEarning Per Month :  Rs. 15000-16000/-Investment Recovery Period : 20 MonthsLink for Calculation Zcash Profit
Monero(XMR)
Hashrate : 6 Kh/sEarning Per Month :Rs.13000-14000 Investment Recovery Period :20 Months

Note: Graphics Card model/make will be changed or modified to bring the required hash rate during installation. All calculation as done as on September 2017 , this will change with time.

Cost : Rs. 2,90,000/-

 

TAM03 Configuration
 
  1. Intel or Corresponding AMD Processor
  2. Asus Gaming MotherBoard
  3. 8 GB Ram
  4. 1070 or R570 Graphics Card 13 Pieces
  5. Mining Rig Case
  6. High End 1300 Processor
Hash Rate and Earning Potentials of Various Crypto Currency Mining

Zcash
Hashrate : 0-6.5 Kh/sEarning Per Month :  Rs.20000-30000/-Investment Recovery Period : 14-17 MonthsLink for Calculation Zcash Profit
Monero(XMR)
Hashrate : 0-10 Kh/sEarning Per Month :Rs. 20000-30000/-Investment Recovery Period :14-17 MonthsLink for Calculation Monero Profit

Note: Graphics Card model/make will be changed or modified to bring the required hash rate during installation. All calculation as done as on September 2017 , this will change with time.

Cost : Rs. 4,48,000/-

Important Links Used to Calculate the Benchmarks and Profitability


Project Plan & Returns

 

  • For Mid-Range Machine(TAM02)

 

   Assume you buy a mid level hardware of Rs. 2,90,000/. Estimated per month earning is Rs.16,000.

     Minimum warranty on Hardware is 3 Years for all components. We assume that hardware will run for just 3 years.

 

ASSUMING HARDWARE RUNS FOR 3 YEARS(Minimum Hardware warranty period)
COST OF HARDWARE 2,90,000/-
RETURNS PER MONTH Rs. 16,000/-
RETURNS 3 YEARS Rs. 5,76,000/-
Total Returns Rs. 286000 98% (And machine is also yours)

 

ASSUMING HARDWARE RUNS FOR 5 YEARS
COST OF HARDWARE 2,90,000/-
RETURNS PER MONTH Rs. 16,000/-
RETURNS 5 YEARS Rs. 9,60,000/-
Total Returns Rs. 6,70,000/- 231% (And machine is also yours)

 

 

  • For High End Machine(TAM03)

 

 Assume you buy a mid level hardware of Rs. 4,48,000/. Estimated per month earning is Rs.25,000.(Average of max and minimum)

     Minimum warranty on Hardware is 3 Years for all components. We assume that hardware will run for just 3 years.

 

ASSUMING HARDWARE RUNS FOR 3 YEARS(Minimum Hardware warranty period)
COST OF HARDWARE 4,48,000/-
RETURNS PER MONTH Rs. 25,000/-
RETURNS 3 YEARS Rs. 9,00,000/-
Total Returns Rs. 4,52,000/- 100.89% (And machine is also yours)

 

ASSUMING HARDWARE RUNS FOR 5 YEARS
COST OF HARDWARE 4,48,000/-
RETURNS PER MONTH Rs. 25,000/-
RETURNS 5 YEARS Rs.15,00,000/-
Total Returns Rs. 10,52,000/- 234% (And machine is also yours)

 


How Does Techaroha Helps


Mining requires following things

  1. A good mining rig
  2. Administrative Knowledge to maintain the mining rig
  3. Technical knowledge to handle the failover of mining rig
  4. Uninterrupted and controlled power supply
  5. Good Ventilation in the premises
  6. Good Cooling system to regulate the temperature
  7. And the least is good enough space.

Techaroha has two major services to help you in the mining

Mining Pool with Mining Rig at your end.

Mining Rig will be installed at your premises. Power consumption will be yours. Techaroha team will installed the required software and will point the same for best pool with most profitable currency.

                  “TechAorha fee will be 1% of the coins earned.”

Mining Pool with Mining Rig maintained and monitored by Techaroha Team.

    1. Mining Rig will be installed in the premises of Techaorha
    2. Techaroha team will take care of the maintenance of the Device
    3. Techaorha Team will ensure constant power supply
    4. Team will take care ventilation and cooling.

                            “TechAorha fee will be 8% of the coins earned.”

 

  • Long Term Plan of TechAroha

 

Techaroha helps to get started with mining crypto currency in India.Over a long term perspective techaroha has below plan for efficient profit with mining.

    1. First focus on Investment Recovery let’s assume that to be 18 Months(1.5 Years)
    2. Once the investment recovery is done collect a small returns of around 25% in next 4 months
    3. Find the early launch coins with very low hashrate and low competition. Earn this coin and keep them for very long term investment. Sale them once growth is more than 1000%.Will select coin which can be easily exchanged again dollars.

 

 

  • Risk Calculation and Options to Exit

Everything Went Down(almost  0% Possibility)

If everything went down all crypto currency market go down , still you can sell the hardware will hardly 20-30% Depreciation which is worth the taking.

Prices of Rupees Rises against dollar

This depends on lots of factor but still your margin will be reduced but not much impact. Only recovery period will increase.

Prices of Crypto Currency Falls in a Day

If this happens  you can do following things to minimize the risk

  1. Hold the earned coin and sell them when prices increases
  2. If the cryptocurrency halls then the competition will be reduced with the reduced miner, hence you will earn more coin. Earning will be intact.
  3. You can sell the hardware with depreciation will be 20-30% and your loss will be almost 0%.

Difficulties increase if prices go very high

You will earn fewer coins but the net income will remain the same.But you will get benefited from the coins earned 1-2 months back before.

Founder at Techaroha Solutions Private Limited. 10 Years experience in Software Industry with a special focus on SugarCRM, BlockChain Technology and Crypto Currencies and Decentralization of Power using BlockChain.
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