The purpose of Mining cryptocurrency is to verify transactions however it is done to make money. People like money. People mine crypto. The fact is, even when the next Bitcoin halving occurs and miners are paid half as much to mine, they will still continue to mine. Sure, some of the smaller less experience miners may get left behind, but the majority will just keep on mining. If you'd like to know more about Bitcoin halving coindesk has a great article.
Now that I've got you're attention, of course cryptomining is not really dead. Mining Bitcoin is expensive and best left to the experience miners at this point however there are other cryptocurrencies or 'altcoins' that can still be mined profitably.
Calculators such as are available to determine if mining hardware will be profitable based on the cost of electricity and hashrate. Other factors to consider when mining or trading cryptocurrency, are market pricing and trading volume. Make sure to do your research before investing in mining to determine if it will be profitable.
There are 3 ways to mine cryptocurrency
CPU/GPU mining
ASIC mining
Cloud mining
CPU/GPU Mining
Mining can be done with an existing computer with or without a fancy graphics card. A fun way to get started is check out Honeyminer. The free software can be installed on Windows or iMac and you can start mining right away. Use my referral link and get 1,000 satoshi when you sign up;
Another great option is Betterhash. while the name may be a bit decieving, you can actually make a small amount of cryptocurrency mining with your computers CPU and/or GPU. It's free and easy to setup.
ASIC Mining
If you insist on mining Bitcoin than an ASIC (Application Specific Integrated Circuit) miner is the only way to go. Think of it as a computer that only has one purpose, to mine Bitcoin. If you are considering purchasing an ASIC miner check out Bitmain's Antminer S9 or Dragonmint T16. Buy Bitcoin Worldwide has a great article on Bitcoin Mining Hardware ASICs
Cloud Mining
If the idea of building computers, managing specialized hardware, dealing with heat and loud fan noise doesn't excite you, you're probably not an Engineer. You may also want to consider Cloud Mining instead. Care must be taken to select a reputable Cloud mining company. Evaluate mining contract cost, cryptocoin market price, and fees.
Personally I consider CCG Mining to be one of the best. They even provide a Profit Calculator to evaluate how much your investment could be worth. Always keep in mind the volatility of the cryptocurrency market.
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