Easiest cryptocurrency to mine 2022

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With the intent to mine Cryptocurrency, it is practiced on special equipment. Primarily, it is a computer component built for a particular kind of application. As a result, it overall leads to greater profits. Also Read: How to Mine Cryptocurrency? What Is Crypto Mining?

Crypto Mining as a Method It is an ideal choice for the miners who are not tech-savvy and just want to enjoy the show without having technical knowledge. Such miners have a different approach and conduct crypto mining with 3 different methods, including: a Solo Mining As the name suggests, it is individual mining where you get to work after purchasing your own equipment.

Solo miners are not dependent on other miners and get rewards each time they unlock a new coin. Although the rewards are promising and fascinating, the competition is equally challenging for solo mining. The miners need to invest a considerable amount to purchase the equipment if they want to be the first ones to validate the transaction.

You can think of solo mining only if you have a big amount in the pocket to invest. The developers found a solution to this problem which is pool mining. This method facilitates the process of crypto mining and gets the rewards. To join this vast ocean of pool mining, the miner requires a server combining the computational power of all other miners who are looking forward to joining the pool. Thus, this method increases the possibility of earning handsome rewards by unlocking new coins.

The major benefit of Cloud Mining is that it helps to expand crypto usability. In addition, this technology also allows crypto users to start renting computer power from industrial mining services. Thus, it becomes easy for you to find the best Cryptocurrency to mine with minimal investment. Besides, you may also quit anytime without incurring any extra pressure of investment. Cryptocurrency Mining Terms Hash Rate- A miner is provided with a chance to make a number of guesses at the hash of a block.

Moreover, it is the cheapest way to mine Cryptocurrency. However, they consume heavy power but act as one of the best sources for mining. Proof of Work- Proof of work is significant when it comes to the security of any cryptocurrency. This is because it makes it very expensive and almost impossible to cheat the crypto network. Proof of work is the process of guessing the hash and is an essential security feature for a majority of blockchain networks.

How to choose the best coin to mine in ? Number of exchanges supporting the coin It is indispensable to check what exchanges support the coin. If the less popular exchanges support the coin, it signifies the withdrawal can only be made to the internal wallet of crypto exchanges. In this case, even if the mining seems profitable, the miner is forced to give heavy commissions to the exchanges only for withdrawals as these unrecognized exchanges are forced to work with shitcoins and rely on high commissions.

Ensure its legitimacy Some countries have not legalized and banned cryptocurrency mining. However, in some countries, the authorities allow crypto trading with a high level of anonymity as they serve as the perfect money laundering tool. Evaluating long term use of the purchased equipment It is essential to evaluate the long-term use of the mining equipment through which you would mine the coin.

The possibility of withdrawing to fiat Remember that an exchange fee on every exchange platform allows you to convert the newly mined coins to fiat. Or you also have an option to buy famous tokens, including Bitcoin, Ethereum, or Ripple. However, it is not the best Cryptocurrency to mine. You might be thinking, which one is the best coin to mine? Or what are the top cryptocurrencies for mining that can yield extraordinary returns? Our team has done comprehensive research to find out the most profitable coins to mine.

So have a look at spectacular cryptocurrencies to mine through which you can multiply your investment within a few months. We have listed below the 11 best coins to mine in 1. RavenCoin RVN RavenCoin is one of the most profitable coins to mine, which primarily focuses on transforming mining decentralized.

It was named after the small blackbirds in George R. This Cryptocurrency was launched on 3rd January at the ninth anniversary of Bitcoin. The coin was designed to enable instant payments seamlessly. In , the developers featured this coin with magnificent features such as enabled messaging, mobile wallet with seed phrase, better compatibility, voting with RVN, etc. The primary objective of RavenCoin is to create a blockchain optimized for the transfer of assets from one person to another.

The main reason why it is recommended for miners is that it uses the X16R algorithm and KawPoW protocol. It is based on Ethereum and Bitcoin in terms of asset transfer. Conversely, if you already own a mining rig, you can rent it out to help pay for the various expenses and costs — but then your profit will be reduced, too. Usually, the miners you rent belong to large-scale mining companies that incur much lower costs than individuals with one or two mining rigs.

What are the Best Cryptocurrencies to Mine? Most Profitable Coins to Mine The main thing people are looking for when choosing to mine is profitability. You also have to consider the costs associated with running a mining rig for said cryptocurrency, consider how much of it you will be able to get per day, the number of blocks that you need to mine to make a profit, and so on. A good way to calculate the profitability of your future mining operation is to use a mining calculator.

Input the crypto you want to mine, your hardware, hashing power, and so on to see how much profit you have the potential to make per day. Alternatively, you can also use a website like whattomine. Ethereum ETH As its blockchain has switched to the proof-of-stake consensus mechanism, Ethereum can no longer be mined.

Instead, you can opt to stake it. Ethereum Classic is, just as the name suggests, a slightly modified and upgraded version of that original, pre Ether. It can be mined using CPU and graphics cards. With a market cap of around 6 billion USD, Ethereum Classic undoubtedly has a lot of fans, albeit less than its younger cousin. Overall, it can be thought of as a nice alternative to Ethereum — the reduced complexity of mining Ethereum Classic is balanced out by its less stable and lower price.

As this is a lesser-known cryptocurrency, it is a lot easier to mine than ETC or ETH, making it a little more profitable. Vertcoin VTC Block time: 2. This was done to ensure a more equal distribution of the coin, as ASIC-compatible cryptocurrencies are often mined by centralized ASIC mining firms and pools, making the whole process a lot less democratic.

Vertcoin creators made the coin ASIC-resistant to boost decentralization — one of the cornerstones of the original ideas behind crypto. The company that created it also focuses quite heavily on privacy, which made this coin popular in the crypto world.

Each minute, a block of 60 grins is mined, creating one coin every second, forever. Such linear emission with a fixed block mining reward creates a constant increase in supply but decreases the rate of inflation.

This design not only ensures the long-term security of the blockchain but also makes the mining process a lot more fair and democratic. Grin is by no means a popular cryptocurrency, but it has a dedicated community of users that believe in it. Being less popular, it is easier to mine and can bring in steady profits despite its low price. It is based on the CryptoNote protocol and uses the RandomX hash function. This is yet another ASIC-resistant cryptocurrency.

It has promising long-term prospects. Overall, Monero definitely is one of the most profitable cryptocurrencies to mine. It is one of the best cryptocurrencies to mine using GPUs, making it good for beginners. This coin is ranked within the top by market cap, making it a worthwhile GPU mining venture.

DigiByte, based on the UTXO technology, uses five different independent algorithms to process transactions on the network. It is aimed at solving the scalability and security problems that many cryptocurrencies face. Aeternity is currently one of the most profitable coins for mining due to the unusual approach to the network and the speed of operation.

The coin runs on the Ethash Proof-of-Work algorithm. The most profitable way of mining ETP at the moment is to participate in a large and reliable mining pool with the goal of combining the hashing power of all miners participating. However, LTC transactions are cheaper and four times faster. The mining reward of LTC can be very high.

Yet, please note, that LTC mining requires a powerful hardware setup that consumes a large amount of energy. It uses the Scrypt mining algorithm. Check out our detailed how-to guide on mining Dogecoin here. The main goal pursued by BTG developers was to prevent the monopolization of mining operations by major owners of ASIC devices, thus restoring principles of decentralizing and independence. BTG looks like a good choice for beginners to start crypto mining using graphics processing units.

Even if the BTG exchange rate drops down, you will be able to use the hash power of your GPU for mining other digital currencies. Final Thoughts There are a lot of cryptocurrencies out there, so it can be hard to decide which one you want to mine. Some are better, some are worse when it comes to mining and profitability.

But, in the end, you will have to make a decision based on what resources you have, what goals you are after, and, additionally, what chain and project you might be interested in supporting. As always, we remind you to DYOR — do your own research — and carefully assess the risks before you start mining and investing money in crypto.

Good luck on your mining journey! Bitcoin, being the most popular cryptocurrency, is probably the crypto most newbies look into mining.