If you’re looking to get into cryptocurrency mining, you’ve probably noticed that the industry has evolved a great deal over the past few years.
The best way to get started is by using a mining pool for all your mining activity.
Today’s miners are much more sophisticated and require specialized hardware in order to be profitable. While there are plenty of cryptocurrencies that can be mined profitably with consumer-grade computers, not all cryptocurrencies will give you a return on investment (ROI).
Here we’ll discuss some of the best coins worth mining.
List of the Best Cryptocurrencies to Mine
Vertcoin is a cryptocurrency that was created in 2014. It uses the Lyra2RE algorithm, which can be mined using ASICs and GPUs. This makes it one of the most popular cryptocurrencies to mine because it doesn’t require specific hardware like Bitcoin does.
The Vertcoin community is very active on social media platforms such as Reddit and Twitter, so if you have any questions about cloud mining or anything else related to this coin, there are plenty of people who can help out.
Grin is a decentralized open-source cryptocurrency that focuses on privacy and scalability with a heavy emphasis on community involvement in development. It uses an ASIC-resistant proof-of-work algorithm called Cuckoo Cycle that helps it achieve faster transaction confirmation times than Bitcoin or Ethereum while still remaining ASIC resistant.
The currency uses MimbleWimble technology to improve anonymity on its network at the protocol level. Grin uses an innovative textcoin wallet that supports sending Grins directly from the client rather than forcing you to download a full node’s worth of data before you can start transacting.
Monero is a secure, private and untraceable currency. It uses a special kind of cryptography to ensure that all of its transactions remain 100% unlinkable and untraceable. Monero has been around since 2014, but it wasn’t until 2017 when it gained popularity among investors and miners alike.
Monero’s blockchain algorithm is known as CryptoNote, which was invented by Nicolas van Saberhagen in 2012. He wanted to create an anonymous cryptocurrency that would be impossible for anyone to trace back to its original owner or sender through blockchain analysis techniques like Chainalysis or Elliptic Curve Cryptography (ECC).
ZCash is a privacy coin. It’s based on the Bitcoin protocol, but with some changes made to ensure that users can keep their transactions private. ZCash has been around since 2016, when it was forked from Bitcoin; it was one of the first cryptocurrencies to be created via this method (which is called “forking”).
ZCash uses Proof-of-Work (PoW) mining like Bitcoin does, but it also has an additional algorithm called Equihash that makes it resistant to ASICs–specialized hardware designed specifically for PoW coins and allows anyone with any computer processor (not just ASICs) to mine ZEC coins on its blockchain network.
Ravencoin is a mineable cryptocurrency that forked from Bitcoin. It’s ASIC resistant, meaning it can be mined using GPU and CPU hardware instead of just specialized mining rigs. Ravencoin also has a unique feature called “merge-mining,” which allows miners to earn extra rewards by adding their hashpower to other blockchains such as Dogecoin or Litecoin.
The project was founded by Bruce Fenton, who has been active in the cryptocurrency space since 2013 when he first became an advisor to Mt Gox and later helped organize several large conferences focused on blockchain technology (such as Satoshi Roundtable).
Haven Protocol is a decentralized, anonymous token. It’s a fork of Zcash and uses the Zerocoin protocol to anonymize transactions. Haven can be mined using CPU or GPU mining.
The first cryptocurrency on our list is haven protocol. The cryptocurrency is not very popular but it is very profitable to mine it. Haven protocol has good community support and coin holders get 10% interest every month which is quite beneficial for the investors. The most important thing about this cryptocurrency is that it does not have any competitors making it unique in its own way.
Ethereum Classic is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference.
The Ethereum Classic project has been in the works since 2016 and was born out of a desire to keep the original Ethereum blockchain going after its hard fork. The main reason it was created was because some people didn’t agree with how Ethereum had handled their DAO situation where they rolled back transactions by hacking into their blockchain and stealing funds from users who had invested in it through smart contracts.
Litecoin is a fork of Bitcoin that was created in 2011 by Charlie Lee. It’s the second most popular cryptocurrency, with a market cap of over $13 billion and a price of around $56 at time of writing (compared to Bitcoin’s $7000).
Litecoin has some advantages over Bitcoin: it has faster block times and lower transaction fees, making it useful for merchants who want to accept cryptocurrency payments but don’t want to wait hours or days for their transactions to be confirmed by miners.
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference.
Ethereum was invented by Vitalik Buterin in 2013 and has since become the world’s second largest cryptocurrency by market cap.
Monacoin is a Japanese cryptocurrency that was launched in 2013. It’s a fork of Litecoin, meaning it is based on the same blockchain and uses the same mining algorithm (SHA256). Monacoin has a maximum supply of about 28 million coins, but some of those are pre-mined by its developers and cannot be mined by users.
Monacoin is proof-of-work (PoW) cryptocurrency with an average block time of 2 minutes and 24 seconds.
Bitcoin Gold is a fork of Bitcoin, but it has its own blockchain. This means that you cannot send BTC to a BTG wallet or vice versa. However, you can import your private keys into an existing wallet and claim your BTG tokens there.
Bitcoin Gold uses Equihash as its hashing algorithm, which makes it ASIC resistant so that anyone can mine on their home computers rather than having to buy expensive mining equipment like those used for Ethereum or Zcash mining. The block time is 10 minutes and there are 12.5 BTG coins per block reward when they are first mined each day; this decreases by half every 210,000 blocks (about every four years).
Aeternity is a new blockchain platform that aims to be scalable, secure and decentralized. The platform supports smart contracts, oracles and distributed databases.
Aeternity was founded in 2017 by Yanislav Malahov, who also founded Ethereum (ETH). The team behind Aeternity includes developers from IOHK (Cardano), Consensys and other leading companies in the crypto space.