Cryptocurrency mining is a valid method to make passive income. Basically, mining is a way by which new transactions are confirmed by a network and is a critical process of maintenance of the blockchain ledger.
Bitcoin (BTC) is not necessarily the best cryptocurrency to mine. When it comes to the most profitable cryptocurrencies to mine, we have a fairly long list that includes Ethereum, Vertcoin, Aeternity, Monero, Grin, Ravencoin, Bitcoin Gold, and Litecoin. You just have to go through a lot of information to find the best cryptocurrency to mine in 2021, but that’s why we wrote this article – to help you narrow down the most profitable coins to mine.
Crypto mining is performed using hardware that solves an extreme computational math problem. The first computer to find the solution to the problem is awarded. Cryptocurrency mining is described as a simple way to generate passive income, especially considering that all you have to do is connect a CPU, GPU, or ASIC miner to the mining pool. Mining pools are some of the most popular ways to mine cryptocurrency today because they allow cryptocurrency miners to combine the computing power or computing power of their computers.
How To Mine Cryptocurrency?
It is easy to mine crypto and earn money but it requires some hardware and software integration. You will need either a CPU, GPU, or an ASIC miner and connect it to any mining pool. Don’t worry I will explain all these terms below.
In this article, you will find the list of best cryptocurrencies to mine and earn rewards. Here you will find the list of easiest and profitable coins to mine along with the tools and software, required to mine each of them
Cryptocurrency Mining Terms
- CPU: CPUs are called central processing units or brains of the computer. They have very low mining speed and generate the lowest profit. Infact they are the cheapest way to mine cryptocurrency.
- GPU: GPUs are more powerful than CPUs.They have good mining speed and generate good amount of profit,depending how powerful they are.
- ASIC: ASIC stands for Application Specific Integrated Circuit.They are designed to mine cryptocurrency,however they consume heavy amount of electricity and generates maximum profit.
- HASH RATE: Hash Rate is the measure of computational power per second when mining. In simple words it is the speed of mining.Hardware’s having higher hash rate are efiicient and process more data in shorter span of time.
- Mining Pool: Mining Pool is a group of cryptocurrency miners who combine their computational power over a network to strengthen the probabilty of a block.
- Proof-of-Work: Proof-of-work is a method to award the miners for their work.Miners are required to show their work by typing a variable to the process of hasting a transcation.
List of Best Cryptocurrency to Mine in 2021
As you know Bitcoin is currently the most valued cryptocurrency in the world, but mining Bitcoin is not considered a good idea in 2021. To know more read this article by Investopedia. You might be thinking which coin should we mine then?
In this article, I have prepared a list of the most profitable and best coins to mine in 2021. I hope you will find this article helpful.
1. Vertcoin
Vertcoin is the best coin to mine. This coin is ASIC resistant and can be mined with GPU. Vertcoin was created as a graphics card mined version of Bitcoin in 2014. People with desktop computers can mine it thus the network hash rate is decentralized as possible.
Being resistant to ASIC increases the possibility of fair distribution of this cryptocurrency without being controlled by ASIC mining farms.
Specifications
- Methods To Mine: Mined using GPU and FPGA, Cannot be mined using ASICs and CPU cards.
- Mining Softwares: VerthashMine
- Mining Pools: Coinotron.com and miningpoolhub.com
- Algorithm: Proof-of-Work
- Block Reward: 25 RVN
- Block Time: 2 Minutes,30 Seconds
- Price (Nov 2021): $0.6891
- Website: Vertcoin
2. RavenCoin
Ravencoin is currently the best coin ever to be mined. It is based on a Bitcoin fork, Ravencoin is a peer-to-peer blockchain allowing the transfer of assets from one party to another. The total coin supply of Ravencoin is 21 Billion and has a market capitalization of $135 Million. Ravencoin uses the X16R algorithm and KawPoW protocol.
Ravencoin cannot be mined using ASICs, allowing individuals to mine at a lower cost.
Specifications
- Methods To Mine: Easily mined using GPUs and CPUs.
- Mining Softwares: B Miner and Damo Miner. MinerGate is used to mine it on phones.
- Mining Pools:
- Algorithm: Proof-of-Work
- Block Reward: 5000 RVN
- Block Time: 1 Minute
- Price (NOV 2021) : $0.133
- Website: Ravencoin
3.Monero
Monero is a privacy-based coin. The majority of existing cryptocurrencies have transparent blockchains whereas Monero uses various privacy-enhancing tech to ensure the anonymity of its users. Unlike in other cryptos like Bitcoin where transactional details such as receiver address, sender’s address or the amount transferred are visible; they are not visible in Monero.
Monero can be mined easily with CPUs so you don’t need to buy GPUs and it’s also ASIC resistant which benefits small miners a lot.
Specifications
- Methods To Mine: Easily mined using GPUs and CPUs.
- Mining Pools: MineXMR.com and SupportXMR.com
- Algorithm: Proof-of-Work
- Block Reward: 2.15 Monero
- Block Time: 1 Minute
- Price (NOV 2021) : $269.60
- Website: Monero
4.GRIN
Grin is also a privacy-based crypto coin. The Grin was launched in 2019, allowing users to easily mine without heavy investment. Grin facilitates private transactions and the Grin platform does not allow public viewing of the amount senders or receivers address.
Grin can be mined using ASICs through solo mining.
Specifications
- Methods To Mine: Easily mined using GPUs and ASICs.
- Mining Pools: f2pools.com
- Algorithm: Proof-of-Work
- Block Reward: 60 Grin
- Block Time: 1 Minute
- Price (NOV 2021) : $0.4517
- Website: Grin
5.LiteCoin
Litecoin is a peer-to-peer Internet currency that enables instant transfer anywhere in the world. It is an open-source network that is fully decentralized. Litecoin is released under the MIT/X11 license which gives users the ability to run, modify, and copy the software and to distribute, at your option, modified copies of the software.
This Coin is forked from Bitcoin, as it became hard to generate blocks of bitcoin with CPUs and GPUs.Litecoin can be mined with CPUs and GPUs, however, to generate a good profit it is advised to mine with ASICs
Specifications
- Methods To Mine: Mined using CPUS,GPUs and ASICs.
- Mining Pools: EasyMiner,GUIMiner, CGMiner LiteCoin.
- Algorithm: Salsa-20
- Block Reward: 12.5 LTC
- Block Time: 2.5 Minutes
- Price (NOV 2021) : $285.91
- Website:Litecoin
6.Ethereum Classic
Ethereum Classic is a cryptocurrency focused on immutability expressed as the “code of law”.It is a fork of Ethereum and executes smart contracts.
Ethereum Classic platform was launched in 2016, currently, the CoinMarketCap ranking is #30 with a Market Cap of 8.318B USD. The Max Supply of Ethereum Classic is 210million.
Ethereum Classic is one of the best cryptocurrencies to mine in 2021 because it is easier to mine than other cryptocurrencies. This Coin can be mined using CPUs, GPUs, and ASICs.Earlier mining using CPUs was enough but not to get a profitable amount you will need GPUs or ASICs.
Specifications
- Methods To Mine: Mined using GPUs and ASICs.
- Mining Pools: Nanopool.org,Ethermine and f2pool.com
- Algorithm: EtcHash Algorithm
- Block Reward: 3.2 ETC
- Block Time: 10.3 Seconds
- Price (NOV 2021) : $61.95
- Website: EthereumClassic
7.Ethereum
Ethereum like Bitcoin uses the same algorithm Proof-of-Work. Anyone can mine Ethereum on their computers but not everyone can mine it profitably, To mine Ethereum profitably you must purchase a suitable GPU. A Good GPU miner will take around 64 days to Mine 1 Ethereum.
Ethereum is going to change its algorithm, initially, it was based on Proof-of-Work but soon it will change to Proof-of-Stake. How Ethereum’s Change will work?
Specifications
- Mining Pools: NiceHash,Nanopool and Dwarfpool
- Methods To Mine: Mined using GPUs and CPUs but mining with CPUs is not profitable.
- Algorithm: Proof-of-Work,so will be changed by Proof-of-Stake.
- Block Reward: 2 Ethereum per block plus all transaction and gas fees contained in the block.
- Block Time: 10-20 Seconds
- Price (NOV 2021) : $4,208.43
- Website: Ethereum
8.Bitcoin Gold (BTG)
Bitcoin gold is also one of the best cryptocurrencies to mine. It is a fork of the world’s most popular and oldest cryptocurrency Bitcoin formed particularly to support the scaling of blockchain. Anyone can mine Bitcoin Gold with GPUs.Bitcoin Gold uses the algorithm Equihash, making it impossible to mine with ASICs
Bitcoin Gold follows the same guidelines as Bitcoin. The purpose of the hard fork was to prevent ASICs from mining Bitcoin Gold so that simple GPUs can decentralize and distribute the cryptocurrency.
Specifications
- Mining Pool: Pool.gold , 2Miners , Zhash etc..
- Methods To Mine: Mined using GPUs.
- Algorithm: Zhash.
- Block Reward: 6.25BTG .
- Block Time: 10 Minutes
- Price (NOV 2021) : $61.67
- Website: Bitcoin Gold
9.Dash
Dash is one of the most profitable coins to mine in 2021. This coin was launched in January 2014 with the name Xcoin later it was rebranded as Dash Coin. Dash was designed to allow quick transactions quickly. The reward system of Dash coin is a little different from Bitcoin as it splits the profit into three categories. 45% to the miners, 45% to the master nodes, and 10% go to its decentralized governance budget.
Dash can be efficiently mined with ASICs, it cannot be efficiently mined with CPUs and GPUs
Specifications
- Mining Pool: Zpool.ca , f2pool.com , nicehash.com
- Methods To Mine: Mined efficiently using ASICs.
- Algorithm: X11 Hash .
- Block Reward: 2.88 Dash .
- Block Time: 2.5Minutes .
- Price (NOV 2021) : $187.78
- Website: Dash
10. Aeternity (AE)
Aeternity Coin is a scalable blockchain platform that enables high-throughput transactions, purely-functional smart contracts, and decentralized oracles. In view of the greater use of the smart contract, eternity implements integrated oracles that can be used to query and access real data from various providers.
Aeternity Blockchain is a cryptocurrency with ASICs resistant, so the best method to mine them is using GPUs, it follows the Cuckoo Cycle Proof-of-Work algorithm. Coins that are ASICs resistant are the best to mine as they can be easily mined by GPUs
Specifications
- Mining Pool: 2miners.com , beepool.org
- Methods To Mine: GPUs and CPUs
- Algorithm: Cuckoo Cycle Proof-of-Work
- Block Reward: 124 AE
- Block Time: 3 Minutes
- Price (NOV 2021) : $0.167
- Website: Aeternity
Final Thoughts
Cryptocurrency mining is a great way to get crypto coins without buying them. Before mining make sure you do the necessary homework to understand the aspect. In conclusion, this market is expected to witness a ten-fold growth by the year 2025.
ASICs are the most profitable way of mining from cryptocurrencies but that requires an initial investment.GPUs are the most common way to mine cryptocurrency. For Instance, Monero is one of the best cryptocurrencies to be mined with GPUs.
Hi! My name is Kegan and I’m happy to be at beingachieve.com. I was born in Luxembourg but now I’m a student at the Drexel University.
I’m normally an assiduous student but this semester I had to travel abroad to see my relatives. I knew I wouldn’t have time to finish my dissertation, so I’ve found an excellent solution to my problem – ESSAYERUDITE.COM >>> https://essayerudite.com/write-my-essay/
I had to order my paper, as I was pressed for time to complete it myself. I prefer EssayErudite as my dissertation writing service because it’s respected and has a lot of experience in this market.
I received my order on time, with proper style and formatting. (dissertation, 39 pages, 4 days, PhD)
I never thought it could be possible to order dissertation from an online writing service. But I tried it, and it was successful!
I would confidently recommend this [url=http://essayerudite.com]essay writing service[/url] to all my friends 😉