5 Top Cryptocurrencies To Mine For Everybody
When starting a crypto mining rig, it is crucial to pick the right cryptocurrency that will be mineable with your skills and the technical setup. As of September 2021, there are approximately 6500 cryptocurrencies globally, with their significance ranging from the king of crypto Bitcoin and several other prevalent cryptocurrencies to little-known currencies that might never become popular. It is no wonder that a beginner can easily get lost in the world of crypto.
Though Bitcoin is the most famous and arguably the most reliable crypto coins globally, followed by other notable currencies like Ethereum, those are not the most optimal cryptocurrencies to mine. Mining these currencies is becoming less profitable every day due to the evolving technology that is becoming more complicated. Instead, here is the overview of the most excellent cryptocurrencies to mine in late 2021- early 2022.
As a rule, the currencies presented in this list can be mined with a GPU, which is the best option for your average miner because ASIC requires too much of a beginning investment for an average person to handle. Some of these cryptocurrencies are banned from ASIC mining altogether, while others can even be attempted with the basic CPU. In the case of ASIC-resistant currencies, the goal is to preserve the existing degree of decentralization, which is the greatest thing about blockchain technology, according to many.
The Best One For Beginners: Monero (XMR)
Monero is a cryptocurrency based on RandomX proof of work algorithm, with RandomX and CryptoNight hashing functions. This cryptocurrency is optimal for newcomers and amateurs because it is effortless to set up a mining rig. If you are mining individually, you may need to use a GPU, but if you are a part of the pool, even a CPU will do you very well, which is a real rarity nowadays. Either way, the currency does not use much power to mine. The mining time takes a record 24 seconds, rewarding you with 4.99 XMR for each successful mining cycle.
In addition, the currency prides itself on being private because the transaction details are not available for anyone to see.
The Best One For Pool Miners: Vertcoin
Vertcoin is a proof-of-work algorithm cryptocurrency based on the Verthash hashing function. Like other entries on this list, it is banned from ASIC mining. Instead, the options for mining are GPU and a less popular FPGA. This cryptocurrency has some of the most significant numbers of options when it comes to the mining pools, and you can select the option with the best commission available. The popular currency was set up as a GPU alternative to the top crypto market giants like Bitcoin.
The Cheapest: Raven Coin
Based on the KawPoW (X16R) algorithm, Raven Coin is one of the most valuable cryptocurrencies on the market, thanks to its amazing community and the unique algorithm designed to move the tokens around most efficiently and securely.
You guessed it right: the currency is banned from ASIC mining, and you should mine it with GPU. Moreover, it has multiple software options for efficient mining. Many mining pools support this cryptocurrency, and a single block is mined every sixty seconds, awarding you with 5000 RVN. With the right pool, CPU mining is also available, making it even cheaper to mine.
The Best For Mining Groups Wishing to Invest in ASIC: Litecoin
If all of the info above does not really apply to you, and you are ready to invest in a mining rig with an ASIC, then Litecoin is the famous option that might work best for you. While the currency was initially developed to be mined on GPU, it is unfortunately no longer profitable to do so. This currency uses crypt algorithms and hashing functions.
Litecoin is a very fast cryptocurrency, with each block mining every 2,5 minutes. Existing since 2011, it is one of the longest-standing and most reliable of the alternative cryptocurrencies.
The Hottest One Of 2021: Monacoin (MONA)
Having started as the meme coin in Japan in 2013, this is one of the fastest-growing cryptos in 2021, along with the more popular Dogecoin. Like all popular currencies, there are many pools and a wide range of software available to mine this currency. The algorithm and hashing functions are based on Lyra2REv2, and the currency can be mined exclusively with GPU. It takes approximately 90 seconds to mine one block, and the fees are minimal, even on larger pool platforms, which is clearly a thing to appreciate nowadays.
