DeutschAlthough cryptocurrencies are also currencies in a certain sense, the Bitcoin calculator is not the same as a typical currency converter. For example, if you want to know the current equivalent value of 100 Swiss francs expressed in euros, you can use such classic currency converters. In this case, by entering the corresponding currency and the number of desired conversion units, it is possible to determine almost any equivalent value between two currencies. However, the Bitcoin calculator has a different purpose, because it is used in particular for so-called mining.
Calculate Mining Yield with the Bitcoin Calculator
The BTC calculator is used in the vast majority of cases to determine the potential yield from mining. However, you should distinguish between whether you are doing solo mining or have opted for a cloud mining provider. In both cases, a Bitcoin calculator can be used, which of course also exists in a similar form for most other well-known cryptocurrencies. In the following, we would therefore like to show you how you can use the Bitcoin calculator effectively for both solo mining and cloud mining.
The BTC Calculator for Solo Mining
With the BTC calculator, it is important that you take into account both the costs incurred (expenses) and the revenue side. Therefore, with solo mining, it is particularly important to specify the following costs, which of course should be included in the calculation and use of the calculator:
- Hardware costs
- Possible software costs
- Power consumption (electricity costs)
While the costs are on the debit side, the number of bitcoins generated within a certain period of time naturally also flows into the calculation of the yield in the Bitcoin calculator. Of course, the respective exchange rate of the Bitcoin plays a major role. In principle, the Bitcoin calculator works in such a way that all costs within a certain period are subtracted from the income. This is how you determine the yield that you can achieve with Bitcoin solo mining within a year, for example.
Using the Bitcoin Calculator for Cloud Mining
The calculator works on the same principle for cloud mining as for solo mining. However, with cloud mining, of course, there are somewhat different costs and revenues that you should specify. For example, there are no electricity costs with cloud mining, nor are there any hardware costs, because you are participating in a cloud and therefore do not have to operate your own mining. Instead, there are other costs, such as pool fees or a management fee that the respective cloud mining provider charges. In principle, however, you use the Bitcoin calculator here in the same way, because ultimately you want to determine the yield to be calculated that you can achieve with cloud mining.
