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. These nodes run a copy of the blockchain involved.
They then use software to verify that the transactions sent through the blockchain network are valid and legit as per the requirements of the blockchain.
How To Mine Cryptocurrency
It is easy to earn money from mining given that all you need is connecting a GPU, CPU, or ASIC miner to a mining pool.
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. Only the winning miner wins the specified rewards.
This tutorial contains a list of the best cryptocurrencies to mine now and win top rewards. Besides including the most profitable and easiest cryptocurrency to mine, the tutorial discusses the tools and software you need to mine each cryptocurrency. This helps those looking for information on how to mine cryptocurrencies.
Fact Check: Global GPU shipments have increased 29.1% year-to-year even as gaming and crypto mining are becoming home-based income-generating alternatives for many people due to COVID-19 related reasons. By 2025, 419 million units of GPUs will be shipped noting an increase of 3.7% from last year. 21 percent of PU owners will be using GPUs in the next five years according to the report below.
- The best cryptocurrency to mine is one that generates the highest returns. To find which, use online calculators to compare returns for crypto mining. Nevertheless, you also should choose one that does not need you to spend thousands of dollars on mining hardware. In terms of the last comment, CPU mined ones are great but generate the lowest returns.
- Hands-down, the easiest cryptocurrency to mine allows you to connect your miners to mining pools. Just buy GPU or ASIC-specific miner and subscribe to a pool that charges you a commission on mined profits and with a regular payout.
Frequently Asked Questions
Q #1) Which crypto to mine today? Which cryptocurrency is most profitable to mine?
Answer: Best includes Ethereum, Monaco, Monero, Vertcoin, Grin, Monero, ZCash, Bitcoin Gold, Haven, Ravencoin, Litecoin, and Aeternity. Check comparison mining calculators to confirm because profitability keeps changing. Be sure to check the top cryptocurrency mining software you can use to mine these cryptocurrencies.
Q #2) Which is the best cryptocurrency to invest in?
Answer: Bitcoin, Litecoin, Ethereum, Cardano, Binance Coin, Ripple, Tron, and Dogecoin. To choose the best cryptocurrency to invest in, be sure to understand cryptocurrency trading, ETFs, mining, and other ways of investing in cryptos.
Q #3) Which is the easiest cryptocurrency to mine?
Answer: Monero is the easiest cryptocurrency to mine now because it can be mined via browser extensions and free software over websites. It is even mined via crypto jacking. The mining code can also easily be incorporated into apps and websites to facilitate mining.=> Contact us to suggest your listing here.
List Of The Best Cryptocurrency To Mine
Here is the list of popular Cryptocurrencies to mine:
- Haven Protocol
- Ethereum Classic
- Bitcoin Gold
Comparison Of The Top Cryptocurrencies
|Tool Name||Best For||Category||Platform|
|Vertcoin||Individual miners||GPU and FPGA mining||Vertcoin blockchain|
|Grin||Privacy applications||GPU and ASICs mining||Grin blockchain|
|Monero||Beginner miners||CPU and GPU mining||Monero blockchain|
|ZCash||Privacy applications||GPU mining||ZCash blockchain|
|Ravencoin||Low cost mining||GPU mining||Raven blockchain|
Let us review these cryptocurrencies.
Best for individual miners on pools.
Vertcoin was created as a crypto mineable by GPU after Litecoin, which was created to work as a GPU-mineable alternative to Bitcoin, succumbed to ASIC control. Due to the fact that it supports GPU mining, the network is as decentralized as possible.
- It is not mineable with ASICs or CPU cards.
- 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.
- Can be mined individually or on GPU mining pools.
- Some pools to consider include Coinotron.com, Zpool.ca, miningpoolhub.com, and Bitpoolmining.com. Different pools charge different rates or commissions.
|Network Hashrate||4.54 GH/s|
|Options to mine||GPU, FPGA|
Best for private transactions for individuals and companies that do not need transaction tracking or transparency.
Grin is one of that crypto referred to as privacy coins, which facilitate private transactions between individuals or on platforms.
The Grin platform, for instance, does not allow public viewing of the amount sent or sending and receiving addresses. Of course, in comparison, anyone in public can use block explorers to view such details of blockchain transactions for non-privacy coins. Grin uses the MimbleWimble protocol to ensure the privacy of transactions and for scalability.
- Can be mined with Gminer, GrinGoldMiner, Cudo Miner, and lolMiner GPU mining software. These are downloadable for free.
- Can be mined on pools such as 2miners, and f2pools.com. Different pools have different rates and payout frequencies.
- Can be mined through solo mining with ASICs.
- Grin is lightweight thanks to the MimbleWimble protocol, and it scales based on users not a number of transactions.
|Algorithm||Cuckatoo32 mining Proof-of-Work algorithm|
|Network Hashrate||11.84 KGps|
|Options to mine||GPU, ASICs|
#3) Monero (XMR)
Best for beginner miners since it can be mined with CPUs.
Monero is one of the best privacy-minded coins and blockchains and enhances the non-traceability of transactions. Unlike Bitcoin where transaction details such as the amount sent, sending, and receiving addresses are visible; these are not visible on Monero. Hence it is complete privacy crypto.
- Users do not need to invest a lot of money buying CPUs for mining. Also, does not use too much power when mining with CPUs.
- 1 Monero is mined every 24 seconds. The reward for miners is around 4.99 XMR.
- Can be mined solo with GPUs recommended, but also on pools.
- Pools for mining Monero include MineXMR.com, SupportXMR.com, xmr.nanopool.org, monero.crypto-pool.fr.
|Algorithm||RandomX proof of work algorithm|
|Hashing function||RandomX; CryptoNight|
|Network Hashrate||2.64 GH/s|
|Options to mine||x86, x86-64, ARM and GPUs, ASICs|
Website: Monero (XMR)
Best for individual miners who prefer private transactions.
Zcash is also a privacy coin that ensures the confidentiality of transactions. There is an option of using public transparent wallet addresses, whose data and history are viewable publicly. These can be used by companies and groups who want traceability and transparency in transactions. For the shielded transaction types, individuals can use them to protect their financial history and privacy.
ZCash features a low fee of .0001 Zcash per transaction. The crypto is backed by scientists from MIT, Technion, Johns Hopkins, Tel Aviv University, and UC Berkeley.
- ASIC resistance. Can be mined best by GPUs using EWBF Zcash Miner Windows miner. Mineable with CPUs making it very cost-effective for beginners.
- GPU miners can use Optiminer and EWBF Cuda software for optimization. It is also possible to use GUI miner, console & Android mining app.
- Best mining pool is ZEC mining pool which is an internal mining pool. But other pools to mine include Flypool, Nanopool, and Slushpool.
- Block reward after every 75 seconds is 3.125 ZECs. 10 blocks are produced after every 2.5 minutes.
|Algorithm||Equihash proof of work algorithm|
|Hashing function||SHA256 hashing function|
|Network Hashrate||6.76 GS/s|
|Options to mine||CPUs, GPU,|
#5) Ravencoin (RVN)
Best for beginners and low investment mining.
Ravencoin uses a peer-to-peer network to facilitate the transfer or trading of assets from one party to another. It is based on a Bitcoin fork and is purely based on the community with no master nodes or ICO. Examples of customers include Medici Ventures who at one time completed a $3.6 million securities token transfer using the coin’s blockchain. Medici Ventures, which is owned by Overstock.com, is also a funder of this project.
- Cannot be mined with ASICs, hence allowing people to mine at low initial costs.
- 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.
- Can be mined with multiple mining pools including 2Miners, Blocksmith, Bsod, Coinotron, Flypool, HeroMiners, Skypool, MiningPoolHub, Nanopool, Suprnova, and WoolyPooly.
- GamerHash also supports the mining of crypto.
- A block is created or mined every minute to generate a block reward of 5,000 RVN.
|Algorithm||KawPoW (X16R) type of proof of work algorithm|
|Network Hashrate||6.93 TH/s|
|Options to mine||GPU, CPUs|
Website: Ravencoin (RVN)
#6) Haven Protocol (XHV)
Best for holders also known as hodlers.
Haven Protocol is a private coin based on Monero. The platform allows people to convert, transfer, and store monetary value directly from the wallet without involving any middlemen, custodians, and third parties.
Currently, it allows you to convert Haven crypto to other fiat-pegged tokens directly from your wallet. The platform provides synthetic fiat and crypto currencies such as xUSD, xCNY, xAU (Gold) or xBTC for easy conversion and swapping among them.
There is no one deciding the exchange rates on the platform and there are no limits for converting any supported asset.
- It inherits Monero’s privacy features such as RingCT and stealth addresses. Hence, it can be used for private sending and receiving.
- Having fiat-pegged, gold, and silver pegged coins allows storage of monetary value in a stable form to avoid volatility crashes. After mining, you can convert and store.
- Looking for Haven mining pools? Try Hero Miners, Miner Rocks, Fracking Miner, Hashvault, FairPool, and Hashpool.
- It can be mined with the software used to mine Monero. Software to use to mine Haven Protocol includes BLOC GUI Miner, CryptoDredge, and SRBMineR.
|Hashing function||CryptoNightHaven variant|
|Network Hashrate||42.162 MH/s|
|Options to mine||GPU, CPUs|
Website: Haven Protocol (XHV)
#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.
- Mainly mined with Ethminer, Claymore Miner, FinMiner, GMiner, and NBMiner GPU miners. Cruxminer, GMiner, lolMiner, Nanominer, NBMiner, and OpenETC Pool, are also some of the software you can use to mine ETC.
- The crypto can be mined using a variety of pools including Nanopool.org, 2Miners, Ethermine, f2pool, and P2pool among others.
- Can also be mined on a VPS server.
- Ethereum Classic block reward is 3.2 ETC. Each block is created after every 10.3 seconds.
|Network Hashrate||31.40 TH/s|
|Options to mine||GPUs|
Website: Ethereum Classic
#8) Litecoin (LTC)
Best for mining groups.
Litecoin ensures speedy transactions, unlike Bitcoin’s 10 minutes waiting period. It was released under the MIT/X11 license and based on research on cryptocurrencies. It uses an open-source cryptographic protocol and decentralized ledger like many other blockchains.
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. However, Litecoin can now only be mined profitably with ASICs.
ASICs have now been developed for the underlying protocol.
- A block is mined within 2.5 minutes and the current reward per block is 12.5 LTC. This will half in four years.
- Can be mined with Easy Miner, MultiMiner, GUIMiner Scrypt, CPUminer, CGminer Litecoin, and Awesome Miner. These allow you to switch to GPU mining from CPU mining.
- For ASIC miners, the software will most likely be pre-installed in the hardware. Otherwise, you can use the free ASIC/FPGA miner or other software.
- Litecoin mining pools include Litecoinpool, MinerGate, LTC.top, Antpool. F2pool, and ViaBTC.
|Algorithm||Scrypt and a stream function known as salsa20|
|Network Hashrate||352.97 TH/s|
|Options to mine||GPU, ASICs|
Website: Litecoin (LTC)
Best for smart contracts and corporate miners.
Mining Ethereum profitably requires a GPU, and a fast GPU miner will take 63.7 days to mine one Ethereum. However, chances are better with pool mining like is the case with all other cryptocurrencies.
Soon Ethereum will be based on the Beacon Chain, a proof-of-stake (PoS) blockchain which will change mining on the blockchain. For now, it is based on the Proof of Work mining algorithm.
- Ethereum generates a block in seconds and the block reward is 2 Eth plus transaction fees.
- Can be mined with ETHminer, CGMiner, WinEth, BFGMiner, Geth, EasyMiner, T-Rex, and Lolminer. It is not profitable to mine with a CPU.
- Ethereum mining pools include Ethpool, NiceHash, Nanopool, and Dwarfpool.
|Algorithm||Combined Proof of Stake and Proof-of-work algorithms|
|Hashing function||PoW and PoS|
|Network Hashrate||525.12 TH/s|
|Options to mine||GPU, ASICs|
#10) Monacoin (MONA)
Best for personal miners.
Monacoin was created in 2013 December and has a very active community in Japan. It is a type of meme coin like the Dogecoin.
- The block time or the time it takes to mine one block and qualify for reward is 1.5 minutes. You can mine with very little fees.
- The reward per block is 12.5 MONA, and it halves every three years.
- Not able to be mined with ASICs.
- Pools for mining this coin include f2pool, vippool.net, mona.suprnova.cc, la.pool.me, and coinfoundry.org, and bitpoolmining.com.
- Software used to mine this cryptocurrency includes Lyra2REv2 miner, XMR Stak, CGminer, CCMiner, and Suprnova.
|Network Hashrate||73.44 TH/s|
|Options to mine||GPUs|
Website: Monacoin (MONA)
#11) Bitcoin Gold
Best for individual miners.
Bitcoin Gold is a fork of Bitcoin which was formed to support the scaling of the blockchain. It advocated the adoption of the so-called proof-of-work algorithm called Equihash to ensure that major miners – specifically those using ASICs–were not favored in the mining process.
Unlike Bitcoin, it also implements replay protection and unique wallet addresses to increase the safety and security of funds. The coin is listed on very many cryptocurrency exchanges and still has less than 100 reachable nodes as of this month. The highest number of those nodes is found in Germany and United States.
- It still takes 10 minutes to mine a block on BTG same way for Bitcoin. The block reward for this cryptocurrency is 6.25 BTG.
- Some of the software for mining includes GMiner, CUDA miner, EWBF Cuda Equihash Miner, among others that support the Equihash algorithm.
- Pools with which to mine BTG include ccgmining.com, hashflare.io, minergate.com, and nicehash.com.
|Algorithm||Proof of work Equihash-BTG algorithm|
|Network Hashrate||2.20 MS/s|
|Options to mine||GPU|
Website: Bitcoin Gold
#12) Aeternity (AE)
Best for smart contracts.
Aeternity enables users to launch and run smart contracts or decentralized applications that scale through state channels. Smart contracts can be run off the chain. 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 coin was launched with the motive of increasing the scalability of dApps and smart contracts, sharding, and off-chain contracts.
- It takes about 3 minutes to confirm a block on the Aeternity blockchain. The reward per block mined is 124 AE.
- Software for mining includes CryptoDredge and Bminer. The NBminer or Gmeiner can also be used on NVIDIA hardware. You can also try out HSPMinerAE, NiceHash.
- Mining pools to mine this coin includes beepool.org, 2miners.com, woolypooly.com multi-coin mining pool. The most popular pool used to mine this coin is the 2miners pool with a share of 58% followed by beepool.org at 41%.
|Algorithm||CuckooCycle proof of work algorithm|
|Network Hashrate||28.48 KGps|
|Options to mine||GPUs, CPUs, ASICs|
Website: Aeternity (AE)
In conclusion, the best coins and cryptocurrencies to mine today are those that offer low-cost mining options. It should be cheaper to start to mine. If you are looking for the cheapest crypto to mine, Monero and Ravencoin will be a good choice. Monero, for instance, can be mined on CPUs with normal computer hardware resources.
Nevertheless, Bitcoin and Ethereum should be your top choice if looking for the most profitable cryptocurrencies to mine.
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 most pools charge a commission on the profit earned so you do not even worry about paying fees without earning anything. Pools increase your earnings from mining because they have very high mining hash rates gotten by combining hash rates from many people. They have the highest chance of winning blocks or mining blocks than solo mining.