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I just saw the question "What is the best ETH miner right now" on Vietnamese crypto groups. I need to be clear: what you're looking for doesn't exist.
In September 2022, Ethereum fully transitioned to Proof of Stake (The Merge). That means no more mining ETH with GPUs or ASICs. All apps advertising "mining ETH on your phone" are scams now — either stealing data or mining worthless altcoins for you.
But what if you want to make money with ETH? There are 2 paths:
**Method 1: Long-term holding** - Buy ETH and store it in a cold wallet. Ledger Nano X or Trezor Model T are the safest options. The private key stays offline, hackers can't access it. If your capital is less than $5,000, MetaMask or Rabby Wallet are also acceptable, but be cautious of phishing.
**Method 2: Earning yield** - Use liquid staking (Lido, Rocket Pool). You deposit ETH into the protocol, receive stETH tokens, and earn annual returns from the network. No need to lock 32 ETH like solo staking, just 0.01 ETH is enough.
**Method 3: Short-term trading** - If your capital is small ($100-$500) and you want to trade based on news, CFD trading is an option. You can profit even when ETH price drops (short selling), without holding the actual tokens.
The biggest mistake is using one strategy for all capital types. Long-term capital: cold wallet + staking. Short-term capital: trading on licensed platforms (ASIC, CIMA). Medium capital: MetaMask + DeFi protocols.
Gas fees on Ethereum Layer 1 are still a bit high, but Layer 2 solutions (Arbitrum, Optimism, Base) are much cheaper — under $0.01. Modern wallets support these.
Remember this: There’s no safe way to "mine" ETH on your phone. If someone claims there is, it’s a scam. Instead, learn risk management, use wallets properly, and have a clear investment plan. That’s the real way to make money from Ethereum.