Oh boy. I mean you can definitely make money mining (anyone who says otherwise either doesn't know or is not willing to increase competition).
Anyway, mining is NOT easy i.e. you cannot just plug and play and expect profit.
You need to do a lot of research.
I guess this answers your 1st question.
Beyond this my answer would revolve around GPU mining (so alt coin mining and getting paid in BTC)
Q2 . Is a bit complicated and depends on your budget, but you need a mid to high end gaming PC.
Also the calculation will also be based on a single graphics card.
A simple example : a RTX 3070 costs roughly Rs 99,000 or $1340 .
As per Nicehash(NH) calculator you can expect to make $ 5 / day after electric cost.
So your ROI would be 1340 / 5 = 268 days .
Mind you I am ignoring other component costs.
When you mine with NH, the software mines the most profitable coin at that moment so you don't have to worry about figuring out which coin. However you could do your own research and jump a low demand coin and mine a bunch of it and hope for price to rise.
I think this much information is enough to get you started. Rest you should be doing your research and reading and watching YouTube videos.
And remember people have been saying mining is unprofitable since the beginning of Bitcoin and we all know how right they are.
This is because Nicehash has a withdrawal fee for on-chain BTC transactions (transactions that occur when you send to a Bitcoin wallet/Non-Custodial wallet), as compared to withdrawal to a Coinbase wallet (custodial wallet) or to a Lightning network wallet.
Withdrawals to a Coinbase wallet or a lightning network wallet are free. Also if you withdraw using lightning network, you can withdraw even smaller amounts starting from 0.0001 BTC, where as for a Coinbase wallet withdrawal you'd need to have more than 0.0005 BTC in your Nicehash wallet balance.
From this the answer looks pretty straightforward. Withdraw it to a Lightning Network wallet (Electrum supports setting one up) - https://youtu.be/pZMVLa02AAk
The fee chart for these withdrawal methods are listed here - https://www.nicehash.com/support/general-help/nicehash-service/fees
Moving BTC from an exchange to a hardware wallet will not be traceable as 'stored' on a hardware wallet.
When you send Bitcoin to someone or to yourself, you send it to a Bitcoin address that is generated using Public-Key Crytography. More information on that here.
A hardware wallet or a software wallet does not associate itself with any specific Bitcoin address that you control. In fact what really can be identified easily is the time and amount of Bitcoin owned if it is bought through KYC exchanges, because your KYC information associates your identity with the ownership of BTC. What will be difficult to trace, however, is if you'll continue to own it or if you've spent it on some goods or services as a medium of exchange.
listen dude, first of all I would like to tell you that, if you are looking for an opportunity like shiba inu, you won't get that on big exchanges like Binance, if you want to invest for the long term, it's good to invest in big coins but if you want to buy smaller coins which have very huge potential to grow, I recommend you to use smaller exchanges where sone not so popular coins are listed, these smaller coins have huge potential to grow as compared to big coins like Bitcoin and etherium, you can but small coins like babydoge, kishu inu, saitama , 1inch and some newly listed coins on suncrypto exchange, it has almost 0 trading fees, also you will get 50 rupees worth of bitcoin when you complete your KYC, so you can strt your crypto journey for almost free, you can buy any crypto even with 100 rupees, adding and withdrawing money is also very easy, you can use any method, unlike other exchanges it has no minimum limit to add money in the wallet
so here is the link to suncrypto : https://play.google.com/store/apps/details?id=com.suncrypto.in
use this code to get free 50 rupees worth of bitcoin : 169089
Try LocalCoinSwap.com instant sign up, no messing around. You can even trade cash for bitcoin, something that many platforms don't support now. Users are growing in India lately.
You should be ok as long as you don't identify yourself by providing any KYC information. Make sure you understand Uphold's KYC/AML policy listed on their security page https://uphold.com/en/get-started/security and get to know if they have limits after which KYC is imposed. I am unaware of their policies.
Exodus as a multicurrency wallet doesn't enforce KYC yet and you should be fine using it. As about the safety of your coins stored there, it's good to use a wallet that has an auditable source code (Open Source).
I had never heard of this wallet before. Upon checking I found it on google playstore and the initial reviews were not so good. Check it out yourself.
Anything that makes you suspicious shouldn't be worth the risk taken.