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<blockquote data-quote="quad" data-source="post: 16728024" data-attributes="member: 17952"><p>Some people dollar cost average into BTC. They buy $50 worth per week.</p><p></p><p>I spent around $12,500 cash in 2017-2018 to buy into some cryptos.</p><p></p><p>Since then I have been dollar cost averaging into Ethereum by mining it. I pay an electrical bill and the house is heated by the rigs. In turn I receive Ethereum payouts into my Coinbase account. But the payments could be made to any Ethereum wallet.</p><p></p><p>Initially it cost less than $150 in electrical usage to earn 1 Ethereum. Now the cost is about $1300-1400 in electrical usage to earn 1 Ethereum - it fluctuates though and depends on local electrical rates. Ours are on the high side. Commercial rates are also less than residential. But the rigs heat the house so our natural gas usage is lower since the furnace does not have to run as much. I am probably doing better than $1300 per Ethereum when the heating factor is added into the equation. I would say around $1000-1100 per Ethereum in my case.</p><p></p><p>However that's still over half off the price of buying Ethereum on an exchange.</p><p></p><p>I used a few wallets over the years but eventually settled on my Coinbase wallet. I also have crypto holdings at Binance where I will make a trade occasionally. And I will have to pay capital gains taxes this year on those trades.</p></blockquote><p></p>
[QUOTE="quad, post: 16728024, member: 17952"] Some people dollar cost average into BTC. They buy $50 worth per week. I spent around $12,500 cash in 2017-2018 to buy into some cryptos. Since then I have been dollar cost averaging into Ethereum by mining it. I pay an electrical bill and the house is heated by the rigs. In turn I receive Ethereum payouts into my Coinbase account. But the payments could be made to any Ethereum wallet. Initially it cost less than $150 in electrical usage to earn 1 Ethereum. Now the cost is about $1300-1400 in electrical usage to earn 1 Ethereum - it fluctuates though and depends on local electrical rates. Ours are on the high side. Commercial rates are also less than residential. But the rigs heat the house so our natural gas usage is lower since the furnace does not have to run as much. I am probably doing better than $1300 per Ethereum when the heating factor is added into the equation. I would say around $1000-1100 per Ethereum in my case. However that's still over half off the price of buying Ethereum on an exchange. I used a few wallets over the years but eventually settled on my Coinbase wallet. I also have crypto holdings at Binance where I will make a trade occasionally. And I will have to pay capital gains taxes this year on those trades. [/QUOTE]
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