Cryptocurrency Mining For Dummies – FULL Explanation

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In this video, I explain to you what Cryptocurrency Mining is in plain English and I also go over the main impacts on your profits, different types of rigs, and as well as EIP-1559 and ETH 2.0.

⌚ Timestamps:
00:00 – Intro
00:33 – Cryptocurrency Explained
02:10 – Mining Explained
02:23 – Proof Of Stake vs Proof Of Work
02:23 – Proof Of Work In-Depth
04:02 – Different Types Of Mining Rigs
06:04 – Different Types Of Mining Services
09:03 – What Impacts Your Mining Profits
14:50 – Giveaway Winners – CONGRATS!
16:17 – EIP-1559 & ETH 2.0
19:01 – Wrap-up & Outro

Congrats to the giveaway winners!!

⭐GPU Mining Rig Buying Guide:
⭐Ways To Sell Crypto:
⭐Ways To Buy Crypto:
⭐Where To Store Your Crypto:

🔗 Links & Resources:
• BitsBeTrippin Video:
• Vote here for the EIP-1559:
• ASICs Profitability List:
• Proof Of Stake Info:
• Coins Market Cap:
• Mining Pool Stats:
• Hashrate Explanation:
• DAG Size Calculator:
• Ethereum Block Rewards:
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⚠️ PLEASE BEWARE OF SCAMMERS IN THE COMMENT SECTION! ⚠️
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🏬 Where I buy my Hardware From:
💻 Recommended Software, Wallets, Exchanges..:
📹 Check Out Our Playlists:
🌐 Mining Chamber Website:
👜 Mining Chamber Merch:

🔥 Our Recommended GPUs – Ranked in order
[Check your local market apps for better deals!] – (Offer ups, letgo, Kijiji, Craigslist, etc.)
🟢 RTX 3060 TI | On Amazon |
🟢 RTX 3080 | On Amazon |
🟢 RTX 3070 | On Amazon |
🟢 GTX 1660 Super | On Amazon |
🔴 RX 5700 XT | On Amazon |
🔴 RX 5600 XT | On Amazon |
🔴 RX 5500 XT 8 GB | On Amazon |
🔴 RX 6800 XT | On Amazon |
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If you enjoyed this video please leave a 👍 and 🖱️ on the Subscribe button!
Let us know if you have any questions in the comments below or chat with us on our Discord server.

Thank you everyone!!
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🌐 Find us on:
► Email – Team@MiningChamber.com
► Website –
► Discord –
► Instagram –
► Facebook –
► Bit.Tube –
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Disclaimer – This is not financial advice – please do your own research. Everything is for entertainment purposes and from our personal experience.

We use Amazon affiliate links. That means if you order using the link we will get a small commission with no additional costs to you! Thank you for your support!
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#gpumining #cryptocurrencymining #cryptocurrency #bitcoinmining #cryptomining #cryptominingexplained #bitcoinminingexplained #gpuminingexplained #proofofwork #miningprofits #miningexplained #appartmentGpuminingrigs #CryptoMiningAtHome #bitcoinmining #bitcoin #cryptocurrency #cryptominingrig #ethmining #RadeonVIIMiningRig #GTX1660TIMiningRig #RX580MiningRig #GPUMiningRigs #Hashrate #CryptocurrencyMiningFarm #miningchamber

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Responses (48)

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    Hey everyone! ~ hope this video helped clear out some confusion or educate in the slightest bit! <3 There is a new thing that is quiet interesting and it is Proof of Coverage through Helium Hotspot Mining. I covered it in a video recently and I suggest checking it out, it will be worth it 😉 https://youtu.be/oIpk4QaSbJ8

    Also covering Proof Of Space And Time Mining very soon which you will not want to miss! Make sure to subscribe so you don't miss it <3

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