12 Best Cryptocurrency To Mine [2022 Review And Comparison]
Crypto mining is a good opportunity for individuals to earn passive income. It is a process in which transactions for various cryptocurrencies are verified and then added to the blockchain digital ledger.
If you’re one of the people interested in knowing which are the best cryptocurrencies to mine, you have landed on the right page. Below, we will be making a list of cryptocurrencies and their advantage for mining.
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| Best Cryptocurrencies’ |
How can you mine cryptocurrency?
Mining cryptocurrency is pretty easy. All you need is connecting a GPU or ASIC miner to a mining pool. Mining pools are required to combine the hash rate of computer processing power to increase the chances of winning block verification.
Pro-tips regarding the best cryptocurrency to mine 2022
● For mining the best cryptocurrency, it must generate the highest returns.
● Online calculators can be used to compare the returns for crypto mining.
● Choosing a mining platform that requires you to spend thousands of dollars on mining hardware is not wise.
Fact check for crypto mining
Due to the pandemic, many people have been involved in gaming and crypto mining. That increased the global shipment to 29.1%. It is expected that 21% of PU owners will be using GPUs in the next 5 years.
Frequently Asked Question
1. Which cryptocurrency is most profitable for mining?
Answer: Currently, the best cryptocurrencies to mine are Ethereum, Monaco, Monero, Vertcoin, Grin, Monero, ZCash, Bitcoin Gold, Haven, Ravencoin, and Litecoin.
2. Which cryptocurrency is best to invest in?
Answer: Bitcoin, Litecoin, Ethereum, Cardano, Binance Coin, Ripple, Tron, and Dogecoin are currently the best investments. But to choose the best, you also need to understand cryptocurrency trading, ETFs, mining, and other ways of investing in cryptos.
3. Which cryptocurrency is easy to mine?
Answer: The answer is Monero. It can be mined using browser extensions and free software over websites.
Full list of the top cryptocurrency to mine
The complete list of well-known cryptocurrencies to mine are as follows-
- ECOS
- Vertcoin
- Grin
- Monero
- ZCash
- Ravencoin
- Haven Protocol
- Ethereum Classic
- Litecoin
- Ethereum
- Monacoin
- Bitcoin Gold
Reviews and specification of the best cryptocurrencies to mine in 2022
ECOS
Best suited for long-term investment.
ECOS Bitcoin mining is only profitable under certain conditions. And one of the best BTC mining providers is ECOS.
Advantages:
● The company provides both ASIC mining and cloud mining.
● It has a convenient calculator on the website for choosing a mining contract.
● Withdrawal starts from 0.001 BTC.
Site: Cloud mining of cryptocurrency: Bitcoin (BTC) – profitable contracts | ECOS company
- Vertcoin
Best suited for individual miners on the pools.
After Litecoin, Vertcoin was created as crypto minable by GPU. It was created to work as a GPU-mineable alternative to Bitcoin. It is one of the best cryptocurrencies to mine because it supports GPU mining, and the network is decentralized as possible.
Advantages:
● VerthashMine can be used to mine the crypto.
● Miners can mine individually or through a GPU mining pool.
● Supports mining with GTX 1080, 1080 Ti, Radeon RX 560, Vega64, RTX 2080, and GTX 1660 cards.
Specification:
Algorithm
E.g., Proof-of-Work
Hashing function
Verthash
Network Hashrate
4.54 GH/s
Options to mine
GPU, FPGA
Site: Vertcoin – Decentralized Peer-to-Peer Digital Currency
- Grin
It is Best suited among private transactions for individuals and companies.
Grin is one of the top cryptocurrencies to mine since it facilitates private transactions between individuals or platforms. The platform doesn’t allow public viewing of this amount sent or sending and receiving addresses.
Advantages:
● It can be mined with free software like Gminer, GrinGoldMiner, Cudo Miner, and lolMiner.
● Users can mine using solo mining with ASICs.
● Users can mine on different pools such as 2miners and f2pools.com.
Specifications:
Algorithm
Cuckatoo32 mining Proof-of-Work algorithm
Hashing function
Cuckatoo32
Network Hashrate
11.84 KGps
Options to mine
GPU, ASICs
Site: Grin
- Monero (XMR)
Since it is mined with CPUs, it is best suited for beginner miners.
Monero is considered one of the best privacy-minded coins and blockchains. It enhances the non-traceability of transactions. It has complete privacy crypto that is best for mining.
Advantages:
● Doesn’t use too much power when mining with CPUs.
● Miners don’t need an expensive GPU.
● Since 1 Monero is mined every 24 seconds, the miners get about 4.99 XMR as a reward.
Specifications:
Algorithm
proof of work algorithm
Hashing function
RandomX; CryptoNight
Network Hashrate
2.64 GH/s
Options to mine
x86, x86-64, ARM and GPUs, ASICs
Site: Home | Monero – secure, private, untraceable (getmonero.org)
- ZCash
Best suited for individual miners preferring private transactions.
Zcash is a privacy coin that ensures the confidentiality of transactions. Per transaction is as low as 0.0001 Zcash.
Advantages:
● It has ASIC resistance.
● Very cost-effective for miners with CPU, for which it is one of the best cryptocurrencies to mine.
● Miners can also use Optiminer and EWBF Cuda software for optimization.
Specifications:
Algorithm
proof of work algorithm
Hashing function
SHA256 hashing function
Network Hashrate
6.76 GS/s
Options to mine
CPUs, GPU
Site: Privacy-protecting digital currency | Zcash
- Ravencoin (RVN)
It’s best suited for beginners and low investment mining.
It uses a peer-to-peer network trading of assets from one party to another. Crypto is based on the Bitcoin fork and trading assets from one party to another. It is considered one of the best cryptocurrencies to mine as it is preferred by beginners to start their way through.
Advantages:
● Allows people to mine at low initial costs since it cannot be mined with ASICs.
● GamerHash also supports it.
● The reward for generating a block is 5000 RVN.
Specifications:
Algorithm
KawPoW (X16R) type of proof of work algorithm
Hashing function
Network Hashrate
6.93 TH/s
Options to mine
GPU, CPUs
Site: Home | Ravencoin
- Haven Protocol (XHV
Best Suited for holders.
It is based on Monero. It allows the user to convert, transfer and store monetary value directly from the wallet without involving any third party.
Advantages:
● It has features such as RingCT and stealth addresses for private transactions.
● It can be in mine with the similar software that is used to mine Monero.
● It is one of the best cryptocurrencies in mining which allows storage of monetary value in a stable form to avoid volatility crashes.
Specifications:
Algorithm
RandomX
Hashing function
CryptoNightHaven variant
Network Hashrate
42.162 MH/s
Options to mine
GPU, CPUs
Site: Haven Protocol XHV – Private Money
- Ethereum Classic
Best suited for the companies and organizations for running smart contracts.
Ethereum Classic is a fork of Ethereum which preserves the principle “Code is the law.” It facilitates individuals and organizations to execute smart contracts that work on the blockchain with minimal human interference.
Advantages:
● Mining is possible on a VPS server.
● The reward for the Ethereum Classic block reward is 3.2 ETC.
● Miners can mine the crypto using a variety of pools, including 2Miners, Ethermine, f2pool, etc.
Specifications:
Algorithm
Etchash algorithm
Hashing function
Ethash
Network Hashrate
31.40 TH/s
Options to mine
GPUs
SIte: Ethereum Classic
- Litecoin (LTC)
Best suited for individual investors and miners.
Litecoin cryptocurrency operates on the Litecoin blockchain, which employs Scrypt proof of work algorithm. A new block only takes 2.5 minutes to produce, making it one of the popular cryptocurrencies to mine among miners.
Advantages:
● The reward per block is 12.5 LTC.
● Has the option to switch GPU from CPU mining.
● Mining pools for Litecoin include Litecoinpool, MinerGate, LTC.top, Antpool. F2pool, and ViaBTC.
Specifications:
Algorithm
Scrypt and a stream function known as salsa20
Hashing function
Scrypt
Network Hashrate
352.97 TH/s
Options to mine
GPU, ASICs
Site: Litecoin – Open source P2P digital currency
- Ethereum(ETH)
Eternium has earned its position as second after Bitcoin. One of the great successes of Ethereum is smart contracts.
Advantages:
● The reward for each new block is 2 ETH plus the transaction fee.
● Compatible with ETHminer, CGMiner, WinEth, BFGMiner, Geth, EasyMiner, T-Rex, and Lolminer.
● The mining pools of Ethereum are Ethpool, NiceHash, Nanopool, and Dwarfpool.
Specifications:
Algorithm
Proof of Stake and Proof-of-work algorithms
Hashing function
PoW and PoS
Network Hashrate
525.12 TH/s
Options to mine
GPU, ASICs
SIte: https://ethereum.org
- Monacoin (MONA)
Best Suited for personal miners.
Monaco was first introduced in 2013 December. It has a very active community-based in Japan. The popularity gained through similar meme coins like the Dogecoin.
Advantages:
● You can mine Monacoin for a very small fee.
● The reward per block is 12.5 MONA.
● ASICs are not needed for mining.
Specifications:
Algorithm
Lyra2REv2 algorithm
Hashing function
Lyra2REv2
Network Hashrate
73.44 TH/s
Options to mine
GPU
Site: Monacoin project
- Bitcoin Gold
Best suited for individual miners.
Bitcoin Gold was introduced to support the scaling of the blockchain. It has implemented replay protection and a unique wallet address to increase safety and security funds.
Advantages:
● The reward for each new block of Bitcoin gold is 6.25 BTG.
● Softwares that support the Equihash algorithm are GMiner, CUDA miner, EWBF Cuda Equihash Miner.
Specifications:
Algorithm
Proof of work Equihash-BTG algorithm
Hashing function
Equihash-BTG
Network Hashrate
2.20 MS/s
Options to mine
GPU
Site: Bitcoin Gold | Make Bitcoin decentralized again
Final verdict
Hence, The best coins and cryptocurrencies in the market offer low-cost mining options. It is important to know that it should be cheaper to start mining. And for the cheapest option, you can mine Monero and Raven coin. It can be mined using CPUs with normal computer hardware resources.
But if you want to select the most profitable cryptocurrencies, then Bitcoin and Ethereum is by far the best choice.
