If you’ve been looking for a way to make some extra money, crypto mining is the new way to go.
Cryptocurrency mining is the process of using a computer to verify transactions on the blockchain. Miners are rewarded for their work with tokens, or newly created altcoins, for each block they add to the network.
Now, while this is one of the most dynamic and exciting markets in the world, it’s also a very competitive one. New miners join almost every day, and if you want to stand out from the crowd and make some serious profit, you need to do your research – and that’s where we come in.
In this article, we’ll take a look at some of the most profitable cryptocurrencies to mine. We’ll discuss what makes them so beneficial and how you can get started with each one today.
This list is based on several factors, including block time, price per coin (USD), block reward, and market cap.
Read on.
Most Profitable Cryptocurrency To Mine
1. Monaco (MONA)
Monaco has the highest reward per block (12.5 MONA), and it is a cryptocurrency that can be mined with CPU or GPU. It also has a low difficulty level, which makes it one of the most profitable altcoins on this list.
The main feature that makes Monaco stand out is that it uses a proof-of-stake (PoS) algorithm instead of proof-of-work (PoW). PoS means that you don’t need expensive hardware in order to mine for the token – you can just use your computer as long as it meets certain requirements.
Furthermore, the time it takes to mine a block and qualify for a reward is impressive. With Monaco, one block can be mined in just 1.5 minutes, which is twice as fast as the average time it takes other cryptocurrencies to mine blocks.
What’s more, Monaco has a low fee structure, so you won’t have to worry about fees eating into your profits when sending money or making any transactions with the coin.
Besides, the MONA token has grown significantly over time, with its value going up from $0.002 per coin at inception to $0.01193 per coin today.
With such growth expected in the future, it makes sense for people who are looking for reliable investments with high returns on investment (ROI) to consider investing in this cryptocurrency now before it becomes more expensive down the road.
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2. Monero (XMR)
Monero (XMR) is an open-source cryptocurrency that is designed to ensure the security and anonymity of all transactions made on its network. You can mine a new block every 24 hours and get a reward of 5 XMR ($151.63 per token).
The coin was launched in April 2014 as a fork of Bytecoin with a focus on improving scalability and privacy features. Since then, it has grown considerably from being a niche token to being one of the top ten largest digital currencies in the world today.
It uses Ring Signatures and Stealth Addresses to protect your identity, and Ring CTs (Confidential Transactions) to hide transaction amounts from other users on the blockchain. This makes it difficult for anyone else to determine how much money you have.
Plus, Monero’s mining algorithm is designed to be resistant to ASIC hardware, which means that anyone with a relatively modest computer can mine it.
Another reason why Monero is a great option is because of the DAA (Difficulty Adjustment Algorithm). The DAA allows for an automatic adjustment of the difficulty for every block based on how difficult it was to find a block previously.
This prevents miners from having a hard time finding blocks. It also prevents them from being discouraged by unexpected spikes in difficulty during their mining period, which tends to happen with other cryptocurrencies when they become more profitable.
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3. Ethereum (ETH)
Ethereum (ETH) has been one of the most stable altcoins in the crypto market since its inception in 2015. It is also one of the most widely used tokens for smart contracts and decentralized apps (DApps).
Ethereum’s price has remained relatively low compared to other coins during this bear market, which means that it could provide a good return on investment for miners who are looking for long-term profitability.
Furthermore, it can be mined using regular computers, and not just specialized ASICs or GPUs like Bitcoin requires. That makes Ethereum much more accessible for people with less advanced hardware who want to get involved with cryptocurrencies but don’t have access to expensive equipment.
But here’s where things get tricky: CPU mining isn’t that profitable anymore because it takes too much time for your computer processor to make a single hash (the process by which miners “find” new blocks). If you’re using a CPU instead of a GPU or ASIC miner, don’t expect much profit from this method.
Now, the best thing about this crypto token is that the reward for each block generated by a miner is 2 ETH, which at this time is worth about $1,581.90 per coin. Plus, you can use a wide variety of mining software, including T-Rex, BFGMiner, Lolminer, ETHminer, WinEth, EasyMiner, CGMiner, and Geth.
In addition, Ethereum mining pools include Nanopool, Ethpool, Dwarfpool, and NiceHash. These pools allow people to mine together and split the profits evenly among all contributors.
This means that you don’t have to worry about getting into debt if you join a mining pool. All members get paid out equally at the end of each round (which happens every two hours).
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4. Vertcoin (VTC)
VTC is one of the oldest cryptocurrencies around, having been created in 2014. It can be mined individually or on GPU mining pools, making it a great option for both beginners and experienced miners.
Besides, the mining difficulty for Vertcoin is currently at a low point and it’s expected to rise sharply by 2022. In addition, Vertcoin is resistant to ASICs, which means that it’s not susceptible to hash rate attacks.
As a result, miners can operate at a much lower cost than they could on other coins like Bitcoin or Ethereum. Plus, there are no high fees involved for your transactions with Vertcoin.
For mining Vertcoin, you’ll need to download its VertashMine software and create an account on the official website. It has a block time of 2.5 minutes, a block reward of 12.5 VTC ($0.1722 per token), and an annual inflation rate of 4%.
Finally, Vertcoin’s community is very active and helpful when it comes to answering questions about mining, trading, and investing in the coin.
They have a very large Telegram group where you can get advice from other miners about how best to maximize your profits or what equipment might be best suited for your situation.
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5. Bitcoin Gold (BTG)
Bitcoin Gold is a token that has been around for about three years. It was created as a result of a hard fork from the original Bitcoin blockchain, and it aims to make mining more accessible to the everyday person.
For starters, Bitcoin Gold uses a different algorithm for mining than Bitcoin does. This means that while BTC has become increasingly less profitable to mine with regular computers and GPUs (graphics cards), BTG is still profitable with those types of devices.
Another feature that makes Bitcoin Gold worth checking out is that every 100 blocks you’ll get a reward of 6.25 BTG. That’s about 5% more than what you get from Bitcoin and other popular cryptocurrencies.
Plus, BTG has no halving schedule. It simply distributes all of its block rewards equally among all miners who solved that day’s block.
As a result of these features, Bitcoin Gold has been able to stay ahead of other cryptocurrencies in terms of profitability for GPU miners in recent months, even though it doesn’t have quite as much market cap as its predecessor
What’s more, the price of Bitcoin Gold has been increasing steadily over time. It’s currently priced at $23.12 per coin, but you can expect it to continue growing as more people start using it for various purposes including payment processing and trading purposes.
Additionally, Bitcoin Gold has adopted SegWit technology and supports Lightning Network transactions. This makes it easier for people to send money around the world without having to pay high fees on each transaction.
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6. Aeternity (AE)
Aeternity is a blockchain platform that lets you build decentralized applications. It is scalable, lightning-fast and secure, and has a market cap of $28.021 million.
High scalability means that Aeternity can handle millions of transactions per second, so it’s not just great for now but also for the future. In addition, it’s very safe, thanks to its hybrid proof-of-work/proof-of-stake consensus mechanism.
Plus, Aeternity has built-in mechanisms to ensure that its blockchain is secure against any attacks or hacks.
This is achieved by using something called “on-chain governance” and “on-chain voting” features in the blockchain. These features allow users to participate in decision-making on the network.
Furthermore, Aeternity supports private transactions using Ring signature technology, which allows users to mix their altcoins with other coins so that no one can track where they came from or who owns them at any given time.
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7. Haven Protocol (XHV)
Haven Protocol is another token that’s based on the same technology as Bitcoin, but it has one major difference: it’s designed to be resistant to inflation. This makes it an ideal investment for those who are looking to protect their money from devaluation.
One Haven coin is currently $0.5392, and you’ll get 3.5374 XHV every two minutes when mining. In addition, its network supports smart contracts and has a very low transaction fee of 0.001%.
Haven uses the SHA-3 algorithm, which is an improvement on the SHA-2 algorithm. It also uses an ASIC-resistant algorithm, so you can mine with your GPU or CPU without having to worry about losing out on efficiency.
Finally, Haven’s developers have said they’ll never fork their codebase. They want to maintain stability and security without sacrificing innovation or user experience.
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8. Zcash (ZEC)
Zcash is another coin that you might want to mine because it has a block reward of 3.125 ZECs after every 75 seconds, and it’s priced at $61.02 per coin.
Like Monero, Zcash has a focus on privacy. It uses a “zero-knowledge proof” framework to provide anonymity between users and their transactions.
This means that even though you’re using Zcash, nobody can see your balance or transaction history. All they can see are the addresses of the sender and receiver, and the amount transferred from one address to another.
In addition to being an anonymous cryptocurrency with strong privacy features built into its core architecture, Zcash also boasts fast transaction processing speeds thanks to its use of the Equihash proof-of-work algorithm.
What’s more, it has very low fees. It charges only .0001 Zcash per transaction, which is a fraction of what other cryptocurrencies charge.
This makes it an attractive option for those looking to mine cryptocurrency on a budget.
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9. Grin (GRIN)
Grin is an altcoin worth considering. It has a market capitalization of $5,498,278 million and each GRIN token is worth $0.05662 at the time of writing.
It’s built on a new blockchain called Mimblewimble, which uses an entirely different cryptographic method than most other blockchains. This means that it takes less energy and time to process transactions on Grin’s blockchain.
In addition, Grin uses a new algorithm called Cuckoo Cycle, which was invented by Alex Biryukov and Dmitry Khovratovich of Tel Aviv University in Israel.
This algorithm allows miners to find blocks more quickly than they could with other algorithms like SHA-256 or Scrypt. It also makes it easier for them to verify those blocks without using much additional computing power or electricity.
Another reason Grin is one of the most profitable cryptocurrencies to mine is its block time. Every 60 seconds, a new block is created and added to the blockchain, and the reward is 60 GRIN.
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10. Litecoin (LTC)
Litecoin is an excellent option because it has a high block reward of 12.5 LTC every 2.5 minutes, and the difficulty retargets every three days.
Litecoin’s reward system encourages people to keep mining for longer periods of time in order to reap bigger rewards down the road.
Rather than getting paid in one lump sum when you successfully mine a block (like Bitcoin), you get paid out gradually over time as your block is validated by other miners around the world.
This means that even if you don’t have a lot of computing power behind your operation, you can still make a profit over time by keeping at it.
Furthermore, while right now it’s priced at $54.50 per token, Litecoin has lots of room for growth because it was created as an alternative to Bitcoin, so there are plenty of people who already know about it and understand its purpose and potential use cases (like paying for goods and services).
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11. EcoDollar (ECOS)
The first thing you need to know about ECOS is that it’s based on the Ethereum blockchain. This means that ECOS is secure and transparent, which are two things you want from any cryptocurrency.
It also means that it can be used on any platform that supports Ethereum-based coins; this includes hardware wallets like Ledger Nano S, Trezor, or KeepKey.
Another great feature of EcoDollar is that it has an active community of developers who are constantly working on improving the coin’s features and user experience.
This can help you get more value out of your investment in ECOS by ensuring that your coins will be worth more tomorrow than they are today.
The final thing that makes this crypto token an appealing option for miners is its market cap: $19,939,807. This means miners are guaranteed an increase in value over time as demand increases and supply decreases.
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12. Ethereum Classic (ETC)
Ethereum Classic (ETC) is similar to Ethereum in that it is used for smart contracts and Decentralized Applications (DApps). However, there are some key differences between them.
ETC uses a proof of work (PoW) algorithm rather than a proof of stake (PoS) algorithm. This means that miners can still earn ETH from mining ETC even if there are no new blocks being created anymore because they are still rewarded for helping to secure the network.
This ensures that there will always be a strong community of ETC miners, which in turn means more profit for you.
It’s also pretty easy to mine. You don’t need a high-powered machine or a lot of technical knowledge, just a good CPU and an internet connection.
The best thing about Ethereum Classic is that it rewards its miners with 3.2 ETC per block, and each block is created every 10.3 seconds, making it easier for the average person to mine ETC and take advantage of its low value.
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13. Dogecoin (DOGE)
Dogecoin has a market cap of $8,362,377 and a current value of $0.0628 per token. It’s a fantastic option for miners because it has lots of features that make it appealing.
First, it’s one of the oldest cryptocurrencies on the market. This means that there are lots of people who have been mining it for years, which means that there’s a large community around Dogecoin and there are lots of tools available to help you get started.
It is also very easy to mine Dogecoin because it uses the Scrypt algorithm instead of the SHA-256 or X11 algorithm used by most other cryptocurrencies like Bitcoin or Bitcoin Cash etc., which makes it more profitable than other cryptocurrencies.
Also, Dogecoin transactions take just 2.5 minutes on average, and its block reward is 10,000 DOGE. This makes it easy for miners to get their coins quickly after they’ve been created and sell them immediately before they lose value due to inflation or volatility in other markets such as those for Dash or Bitcoin.
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14. Ergo (ERG)
Ergo is still fairly new, but it has already proven itself worthy of consideration when you are thinking about mining crypto.
ERG tokens are the native currency of the ERG blockchain platform, which is priced at $3.23 per coin. You can get 63 ERG every two minutes for each block you mine, and its current market cap is $188,352,812.
Plus, it has lower transaction fees than most other cryptocurrencies out there because it uses a low-power consumption system.
Additionally, the Ergo team has made sure to remain transparent about their plans for future development and has provided detailed roadmaps for upcoming updates which show what they hope to achieve with each release. This means investors know what they can expect from this project and how it will affect their investments over time.
15. Ravencoin (RVN)
Ravencoin is one of the most profitable cryptocurrencies to mine because it has fast block times (15 seconds), low transaction fees (0.001 RVN), and you’ll get a block reward of 5,000 RVN (currently at $0.02957 per coin).
The project is built on the Bitcoin Core codebase, but it has been modified to enable asset creation and transfer capabilities on its blockchain. This means that users can create their own tokens and trade them without the need for an ICO or exchange listing.
In addition, Ravencoin also has a low barrier to entry when it comes to mining blocks on its network. Anyone can start mining by simply downloading the wallet and purchasing some RVN tokens from an exchange like Bittrex or KuCoin.
Wrap Up: What’s The Most Profitable Cryptocurrency to Mine?
The two cryptocurrencies that we always recommend for mining are Monaco and Vertcoin. Both have been around for several years and have proven themselves as reliable, stable currencies with low fees during their early adoption stages.
However, the list above proves there are no one-size-fits-all altcoins. Your choice depends on what kind of hardware you have, how much electricity will cost you, and what block rewards look appealing to your mining plan.
