Review and compare the best Cryptocurrencies to help you understand how to mine cryptocurrency, and select the best cryptocurrency to mine:
Cryptocurrency mining offers an opportunity for individuals to earn passive income on a daily basis. It is a process through which distributed nodes on a given crypto blockchain confirm transactions sent through the network by other users. A replica of the relevant blockchain is run by these nodes.
They then use software to check that the transactions sent through the blockchain network are legitimate and valid according to the blockchain’s requirements.
How to Mine Cryptocurrency
Given that all you need to start making money from mining is to connect a GPU, CPU, or ASIC miner to a mining pool, it is simple to do.
Mining pools allow many miners to combine the hash rate or computer processing power and so increase the chances of winning block verification. This is because the verification process is itself a competition in which many miners are competing to verify a block. The specified rewards are only awarded to the winning miner.
The top cryptocurrencies to mine right now and earn top rewards are listed in this tutorial. Besides including the most profitable and easiest cryptocurrency to mine, the tutorial discusses the tools and software you need to mine each cryptocurrency. This is useful for those trying to learn how to mine cryptocurrencies.
Fact Check: Global GPU shipments have increased by 29.1% year over year, despite the fact that many people are turning to cryptocurrency mining and gaming as alternatives to traditional work-from-home jobs because of COVID-19-related issues. With a 3.7% increase from the previous year, 419 million GPUs will be shipped by 2025. 21 percent of According to the report below, GPU usage by PU owners will increase over the next five years.
- The best cryptocurrency to mine is one that generates the highest returns. Use online calculators to compare mining cryptocurrency returns to determine which. But you should also pick one that doesn’t require you to buy mining equipment for thousands of dollars. Regarding the previous comment, CPU-mined coins are fantastic but yield the lowest returns.
- The most straightforward cryptocurrency to mine enables you to join mining pools with your miners. Simply purchase a GPU or ASIC-specific miner and join a pool that charges a commission on profits mined and with a consistent payout.
List of the Best Cryptocurrencies to Mine
Here is the list of popular Cryptocurrencies to mine:
- Haven Protocol
- Ethereum Classic
- Bitcoin Gold
Best for individual miners on pools.
After Litecoin, which was designed to function as a GPU-mineable alternative to Bitcoin, fell victim to ASIC control, Vertcoin was developed as a cryptocurrency that can be mined by a GPU. The network is as decentralized as it can be because it supports GPU mining.
- CPU cards and ASICs cannot be used to mine it.
- VerthashMine software is to be used to mine the crypto.
- Mined with GTX 1080, 1080 Ti, and Radion RX 560, Vega64, RTX 2080, and GTX 1660 cards.
- both individually and through GPU mining pools.
- Some pools to consider include Coinotron.com, Zpool.ca, miningpoolhub.com, and Bitpoolmining.com. Rates and commissions vary between pools.
|Options to mine
Best for private transactions for individuals and companies that do not need transaction tracking or transparency.
One cryptocurrency that enables private exchanges between users or on platforms is referred to as a “privacy coin” and is called grin.
The Grin platform, for instance, does not allow public viewing of the amount sent or sending and receiving addresses. Of course, in contrast, block explorers allow anyone in the public to view such specifics of blockchain transactions for non-privacy coins. Grin makes use of the MimbleWimble protocol to maintain transaction privacy and scale.
- can be mined using the GPU mining programs lolMiner, gminer, gringoldminer, and cudo miner. These are available for free download.
- can be mined on pools like f2pools.com and 2miners. Different pools have different rates and payout frequencies.
- is mineable using ASICs for solo mining.
- Grin scales based on users, not the volume of transactions, and is lightweight thanks to the MimbleWimble protocol.
|Cuckatoo32 mining Proof-of-Work algorithm
|Options to mine
#3) Monero (XMR)
Best for beginner miners since it can be mined with CPUs.
The non-traceability of transactions is improved by Monero, one of the best privacy-conscious coins and blockchains. These details are not visible on Monero, in contrast to Bitcoin, where they are, along with the amount sent and the sending and receiving addresses. So it is a crypto that offers total privacy.
- Users don’t have to spend a lot of cash to purchase CPUs for mining. Additionally, when mining with CPUs, do not use excessive power.
- 1 It takes 24 seconds to mine one Monero. The payout to miners is approximately 4.99 XMR.
- Can be mined solo with GPUs recommended, but also on pools.
- Monero can be mined in pools at MineXMR.com, SupportXMR.com, xmr.nanopool.org, and monero.crypto-pool.fr, among others.
|RandomX proof of work algorithm
|Options to mine
|x86, x86-64, ARM and GPUs, ASICs
Best for individual miners who prefer private transactions.
The confidentiality of transactions is guaranteed by Zcash, another privacy coin. The use of transparent wallet addresses that are publicly viewable in terms of their data and history is an option. Companies and organizations that desire transaction transparency and traceability can use these. Individuals may use the shielded transaction types to safeguard their financial information and privacy.
ZCash features a low fee of .0001 Zcash per transaction. Scientists from MIT, Technion, Johns Hopkins, Tel Aviv University, and UC Berkeley support the crypto.
- ASIC resistance; best GPU mining with EWBF Zcash Miner Windows miner. It can be mined using CPUs, making it very affordable for beginners.
- Software tools for GPU miners’ optimization include Optiminer and EWBF Cuda. Additionally, it is possible to use an Android mining app, a GUI miner, and a console miner.
- The most effective internal mining pool is the ZEC mining pool. Flypool, Nanopool, and Slushpool are some additional pools that can be mined.
- 3.125 ZECs are awarded for each block every 75 seconds. 10 blocks are produced after every 2.5 minutes.
|Equihash proof of work algorithm
|SHA256 hashing function
|Options to mine
#5) Ravencoin (RVN)
Best for beginners and low investment mining.
To make the exchange of assets between parties easier, Ravencoin uses a peer-to-peer network. It is built on a fork of Bitcoin and relies solely on the community; there are no master nodes or ICOs. Customers include Medici Ventures, which once used the coin’s blockchain to transfer $3.6 million worth of securities tokens. Additionally, this project has funding from Medici Ventures, a company owned by Overstock.com.
- can be mined at low initial costs because it cannot be mined with ASICs.
- Popular software you can use to mine Ravencoin includes BMiner, NBMiner, and DamoMiner. MinerGate also allows you to mine it on phone but we doubt it would be much profitable.
- The following mining pools: 2Miners, Blocksmith, Bsod, Coinotron, Flypool, HeroMiners, Skypool, MiningPoolHub, Nanopool, Suprnova, and WoolyPooly.
- GamerHash also supports the mining of crypto.
- Every minute, a block is created or mined to produce a block reward of 5,000 RVN.
|KawPoW (X16R) type of proof of work algorithm
|Options to mine
#6) Haven Protocol (XHV)
Best for holders also known as hodlers.
A private coin based on Monero is called Haven Protocol. The platform enables users to convert, transfer, and store money directly from the wallet without the use of intermediaries, custodians, or other third parties.
You can currently do this directly from your wallet to convert Haven cryptocurrency to other fiat-pegged tokens. The platform provides synthetic fiat and crypto currencies such as xUSD, xCNY, xAU (Gold) or xBTC for easy conversion and swapping among them.
On the platform, nobody sets the exchange rates, and there are no restrictions on converting any supported asset.
- As with RingCT and stealth addresses, it carries over Monero’s privacy features. As a result, it can be utilized for private sending and receiving.
- To store money’s value in a stable form and prevent volatility crashes, coins can be fiat-pegged, gold-pegged, and silver-pegged. Following mining, you can convert and store.
- Searching for Haven mining pools? Have a look at Hero Miners, Miner Rocks, Fracking Miner, Hashvault, FairPool, and Hashpool.
- It can be mined using the same software that is used to mine Monero. Software to use to mine Haven Protocol includes BLOC GUI Miner, CryptoDredge, and SRBMineR.
|Options to mine
#7) Ethereum Classic
Best for companies and organizations who want to run smart contracts.
Ethereum Classic is a fork of Ethereum and preserves the principle “Code is Law” to mean it facilitates individuals and organizations to execute smart contracts or coded business instructions that work on the blockchain with minimal human interference.
- primarily mined using the GPU miners Ethminer, Claymore Miner, FinMiner, GMiner, and NBMiner. You can mine ETC using a variety of programs, including Cruxminer, GMiner, lolMiner, Nanominer, NBMiner, and OpenETC Pool.
- There are numerous pools available for mining cryptocurrencies, including Nanopool.org, 2Miners, Ethermine, f2pool, and P2pool, among others.
- can be mined on a VPS server as well.
- The block reward for Ethereum Classic is 3.2 ETC. Every block is produced after 10.3 seconds.
|Options to mine
#8) Litecoin (LTC)
Best for mining groups.
In contrast to Bitcoin’s 10-minute waiting period, Litecoin guarantees swift transactions. It was released under the MIT/X11 license and based on research on cryptocurrencies. Like many other blockchains, it makes use of an open-source cryptographic protocol and a decentralized ledger.
It was forked from Bitcoin with the plan of being mineable with a CPU and GPU when it became impossible or hard to generate blocks on Bitcoin with CPU and GPUs. But right now, only ASICs can be used to mine Litecoin profitably.
The underlying protocol has since been implemented in ASICs.
- The current block reward is 12.5 LTC, and a block can be mined in just 2.5 minutes. This will half in four years.
- can be mined using the programs Easy Miner, MultiMiner, GUIMiner Scrypt, CPUminer, CGminer Litecoin, and Awesome Miner. You can do this to switch from CPU mining to GPU mining.
- The software will probably come pre-installed on the hardware for ASIC miners. ASIC/FPGA miner or other software can be used in lieu of that. Goldshell LT6 – The most profitable Litecoin ASIC miner.
- Litecoinpool, MinerGate, LTC.top, and Antpool are Litecoin mining pools. F2pool, and ViaBTC.
|Scrypt and a stream function known as salsa20
|Options to mine
Best for smart contracts and corporate miners.
The fastest GPU miner will need 63.7 days to mine one Ethereum, making a GPU necessary for profitable mining. As with all other cryptocurrencies, chances are better with pool mining.
Beacon Chain, a proof-of-stake (PoS) blockchain that will alter mining on the blockchain, will soon serve as the foundation upon which Ethereum will be built. It currently uses the Proof of Work mining algorithm.
- With transaction fees added, a block on Ethereum is generated in a matter of seconds for a reward of 2 Ether.
- is mineable using ETHminer, CGMiner, WinEth, BFGMiner, Geth, EasyMiner, T-Rex, and Lolminer. CPU mining does not yield any profits.
- The Ethereum mining pools Ethpool, NiceHash, Nanopool, and Dwarfpool are among them.
|Combined Proof of Stake and Proof-of-work algorithms
|PoW and PoS
|Options to mine
#10) Monacoin (MONA)
Best for personal miners.
Monacoin has a thriving community in Japan and was founded in December of 2013. It belongs to the meme coin category, like Dogecoin.
- It takes 1.5 minutes to mine one block and be eligible for a reward, which is the block time. Mines can be operated for very little cost.
- Every three years, the reward, which is 12.5 MONA per block, is cut in half.
- unable to be mined with ASICs.
- These pools: f2pool, vippool, mona.suprnova.cc, la.pool.me, coinfoundry.org, and bitpoolmining.com are all good places to mine this coin.
- Software used to mine this cryptocurrency includes Lyra2REv2 miner, XMR Stak, CGminer, CCMiner, and Suprnova.
|Options to mine
#11) Bitcoin Gold
best for solitary miners.
In order to support the scaling of the blockchain, the cryptocurrency Bitcoin Gold underwent a fork. To ensure that major miners, specifically those using ASICs, were not favored in the mining process, it promoted the adoption of the so-called proof-of-work algorithm known as Equihash.
To increase the safety and security of money, it also uses replay protection and distinct wallet addresses, unlike Bitcoin. The coin has very widespread cryptocurrency exchange listings, but as of this month, there are still fewer than 100 nodes that can be reached. The highest number of those nodes is found in Germany and United States.
- On BTG, a block is still mined in 10 minutes, just like with Bitcoin. The block reward for this cryptocurrency is 6.25 BTG.
- In terms of mining software, there are a few that support the Equihash algorithm, such as GMiner, CUDA miner, and EWBF Cuda Equihash Miner.
- You can mine BTG using the following pools: ccgmining.com, hashflare.io, minergate.com, and nicehash.com.
|Proof of work Equihash-BTG algorithm
|Options to mine
#12) Aeternity (AE)
Best for smart contracts.
Users can create and run decentralized applications that scale through state channels using Aeternity. Running smart contracts off the chain is possible. Its use-cases include decentralized finance, payments, loans, shares, identity, voting and governance, IoT, and gaming.
It has been used to develop fungible, non-fungible, restricted fungible, and restricted non-fungible tokens. The goal of the coin’s launch was to make decentralized applications and smart contracts, as well as off-chain contracts, more scalable.
- It takes about 3 minutes to confirm a block on the Aeternity blockchain. The reward per block mined is 124 AE.
- CryptoDredge and Bminer are two examples of mining software. The NBminer or Gmeiner can also be used on NVIDIA hardware. You can also give HSPMinerAE and NiceHash a try.
- The multi-coin mining pools woolypooly.com, 2miners.com, and beepool.org are among the mining pools used to mine this coin. The 2miners pool, which has a share of 58%, is the most used mining pool for this coin, followed by beepool.org, which has a share of 41%.
|CuckooCycle proof of work algorithm
|Options to mine
|GPUs, CPUs, ASICs
#13) Dogecoin (DOGE)
Top Meme Coin to Mine
One of the top meme coins in this market is Dogecoin, according to popular opinion. Despite having no practical use, the coin enjoys strong community support, which influences its price. Nevertheless, both the price and the market perception of this coin are infamously unstable.
Regardless, Dogecoin is currently one of the best cryptocurrencies to mine. A single DOGE token can be verified and added to the blockchain ledger in under a minute, even when using a mining pool. Naturally, the token’s market price will determine its profitability.
Even though Dogecoin’s market capitalization has declined since reaching an all-time high in 2021, it is still one of the most widely used cryptocurrencies. You can buy the coin on the majority of cryptocurrency exchanges, and it is increasingly popular as a form of payment.
How Can You Mine Crypto?
In accordance with the hardware (or mining machine) used, there are three categories of cryptocurrency mining. Here they are.
The least popular but most effective type of crypto mining hardware is known as an ASIC miner, or an Application-Specific Integrated Circuit Miner. ASICs, in contrast to CPUs or GPUs, are made with a single objective in mind: mining, which entails solving challenging math problems to validate and secure the blockchain.
Generally, most ASIC mining machines are designed and created to mine specific cryptocurrencies. ASICs typically cost between $300 and $500, which is not that expensive. ASIC miners are much more powerful than the best CPU and GPU miners, being approximately 100,000 times more efficient and having a higher hash rate. ASIC mining does not, however, support all cryptocurrencies; for instance, using ASIC rigs to mine Monero is not feasible. ASICs are also less durable and cannot be upgraded, in contrast to the other two types of mining equipment.
For purposes like watching movies or playing games on our computers, a GPU, or graphics processing unit, is essentially a graphics video card. It can also be used to mine cryptocurrency.
Although the hash rate can still be high, GPU mining is less productive and generally more expensive than ASIC mining. However, it gives miners flexibility, allowing them to mine different coins using the same hardware device. GPU miners can also be utilized for purposes aside from mining. Additionally, many people already possess them. We have prepared a list of the best GPUs for mining.
On the other hand, although most people already own a GPU, the computer it is used by is likely not strong enough to make GPU mining profitable. Therefore, in addition to spending a lot of money on a GPU, you’ll also need to spend money on a computer that can accommodate it. The high power consumption of GPUs also results in high maintenance costs for GPU miners.
You need mining software in addition to the standard hardware and wallet to mine with a GPU (or a CPU). Learn more about the software you can use for GPU mining and CPU mining here.
What should I mine with my GPU?
GPUs are most often used in the process of cryptocurrency mining, as they provide a much faster, more powerful alternative to conventional CPU (Central Processing Unit) mining. The kind of GPU you’ll need to mine a particular coin will depend on a number of elements, including the coin’s algorithm and level of popularity. However, some of the most widely mined coins today include Ethereum Classic (ETC), ZCash (ZEC), Vertcoin (VTC), Monero (XMR), Ravencoin RVN), Haven Protocol (XHV), Bitcoin Gold (BTG), and Dogecoin (DOGE). You can select one or a variety of GPUs for these specific coin mining operations, depending on your financial restrictions and personal preferences.
The oldest and consequently most out-of-date type of mining hardware is a CPU, or central processing unit. You can mine cryptocurrency using CPU miners and your computer’s processing power.
CPU mining damages your computer in addition to being very slow and ineffective. In most instances, the profit from CPU mining will also be incredibly small and not worthwhile.
CPU mining also includes mobile mining, which is unquestionably not worthwhile. It is easily overloaded, uses excessive power, and overheating will damage your device—all for little to no financial gain.
Since you don’t really need to make the initial investment, CPU and mobile mining are good options for people who are after the experience and not the profit. If that’s the case for you, make sure you choose a cryptocurrency that isn’t too hard to mine and doesn’t require a lot of computational power.
Crypto Mining Methods
In addition to hardware, there are three subcategories of crypto mining based on how coins are extracted.
Solo mining, as the name suggests, entails the miner acting independently without assistance from others. This can range from a novice farming coins on their phone to a large-scale mining operation that utilizes mining rigs stacked high in warehouses. This mining method won’t be very profitable, if it is at all, unless you have the latter.
Several devices collaborate to mine a single block while using their combined power when pool mining. The block mining rewards are split among everyone in the pool, so even though the costs and power usage are reduced, so are the profits. You need your own mining rig to participate in pool mining. There are a lot of different mining pools out there, and we recommend researching them thoroughly before joining one. Reading this article will help you find a reliable Bitcoin mining pool.
You can mine cryptocurrencies using cloud mining without purchasing a mining rig or paying for electricity. By employing this technique, you essentially rent out another person’s mining rig in exchange for a portion of their revenue. On the other hand, if you already own a mining rig, you can rent it out to lower your expenses, but your profit will also be affected. The miners you rent typically come from large mining companies, which have much lower operating costs than small-scale miners with one or two rigs. Cloud mining is comparable to mining pools in that it prevents you from receiving the entire block reward.
The best cryptocurrencies and coins to mine right now, in conclusion, are those that provide affordable mining options. Beginning mining should be less expensive. Monero and Ravencoin will be good choices if you’re looking for the least expensive cryptocurrency to mine. On CPUs with standard computer hardware resources, for example, Monero can be mined.
However, if you’re looking for the most lucrative cryptocurrencies to mine, Bitcoin and Ethereum should be your top choices.
Most cryptocurrencies require having at least a GPU to mine, but the most profitable requires investing in ASICs. It can be expensive. However, we recommend mining on a cryptocurrency mining pool once you have the mining hardware and software ready.
You will pay a mining fee, but the majority of pools charge a commission on the revenue generated, so you need not even be concerned about paying fees when you are not making any money. Pools increase your mining profits because they have very high hash rates that were obtained by combining many different hash rates. When mining with a partner, your chances of winning or mining blocks are higher.
Frequently Asked Questions
Which cryptocurrency should I mine today? Which cryptocurrency offers the best mining returns?
Answer: Ethereum, Monaco, Monero, Vertcoin, Grin, Monero, ZCash, Bitcoin Gold, Haven, Ravencoin, Litecoin, and Aeternity are among the best cryptocurrencies. Because profitability is constantly shifting, confirm using comparison mining calculators. Be sure to check the top cryptocurrency mining software you can use to mine these cryptocurrencies.
Which cryptocurrency is best for investment, according to question?
Answer: Bitcoin, Litecoin, Ethereum, Cardano, Binance Coin, Ripple, Tron, and Dogecoin are some examples of cryptocurrencies. Understand cryptocurrency trading, ETFs, mining, and other forms of crypto investing in order to pick the best cryptocurrency to invest in.
Which cryptocurrency is the easiest to mine?
Answer: Given that it can be mined via browser extensions and free software instead of websites, Monero is currently the cryptocurrency that is easiest to mine. Even crypto jacking is used to mine it. To make mining easier, the mining code is also easily incorporated into apps and websites.