Mining cryptocurrency is a process that checks the correctness of transactions and adds them to the blockchain registry. Let's talk about which cryptocurrency is better to mine in 2019.
In the process of mining, miners (computers) compete with each other in solving complex mathematical problems associated with cryptographic hash functions. Those who find a solution first receive payment.
Mining is conducted in various ways. The classic way is to create a mining farm that will cost you a fortune. This requires complex computers, systems for their cooling and efficient power supply.
However, there are alternative types of mining. Thanks to the development of the cryptocurrency sector, mining can also be performed using a computer processor. It is easy and does not require any special technical skills.
Mining can also be carried out via smartphones using platforms such as Electroneum (ETN) . In other cases, you can use graphics processors (GPU) or ASIC miners. But the most convenient and profitable option is – cloud mining .
The best cryptocurrencies for mining
Over the years, Bitcoin has been the best cryptocurrency for mining. However, over time, the mining of bitcoins has ceased to be profitable due to the fact that this requires more computational power. However, there are several altcoins that are beneficial for mining. Here are some of them.
Coin mining grin
Grin's cryptocurrency is based on the Mimblewimble protocol. This network is distinguished by increased confidentiality, scalability and reduced blockchain size. Despite the limited supply of coins, Grin Coin gained recognition even among altcoin opponents. This is one of the best cryptocurrencies for mining, which became known in 2019, when several major websites stated that this protocol is capable of solving many current problems in crypto.
Grin mining requires Nvidia graphics cards with the markings 1070, 1070ti, 1080, 1080ti, 2070, 2080, 2080ti, however, some AMD cards will do.
You can download the official miner (software) for Grin and join the mining pools F2Pool, Grinmint, Sparkpool, Pool.BTC, which account for 40%, 16%, 25% and 16% of the computing power for this coin, respectively.
Mining Ethereum using graphics cards
Ethereum is the third cryptocurrency in the world by market capitalization. It can also be mined using graphics processors. This is one of the best cryptocurrencies for mining, as the coin is valued for its smart contracting functions. Ethminer video card is recommended for etirium mining, which is quite expensive, although it is worth it.
In general, the mining of ether is difficult, but it increases the profitability of such an enterprise. Now the etithium mining attracts fewer miners, and you can get a significant income if you use the most optimal equipment.
Mining Litecoin using ASIC miners
Lightcoin is a peer-to-peer (P2P) cryptocurrency that allows cross-border payments. Compared to other cryptocurrencies, Litecoin transaction confirmation is faster, and this makes it one of the best cryptocurrencies for mining.
In terms of equipment in the mining of lightcoin, there are fewer alternatives. One of the most affordable options is the ASIC miner Antminer L3 ++, which is the most optimal for the price (about $ 400) and power consumption, as well as its hashrate.
For lightcoin mining, you can connect to pools such as Litecoin Pool, Antpool and LTC.top. In addition, you can use the Litecoin Core client to store your lightcoins.
Useful site for miners WhatToMine.com
WhatToMine is the leading profit calculator for miners . The information on the site is the result of combining various data and analyzing them, which makes it possible to isolate advantageous coins.
Over the past years, the profit from mining has decreased, and such platforms can be very useful for assessing the profitability of investments in cryptocurrency. You need to enter the name of the equipment used, the number of your devices and the cost of electricity in your area. By clicking the Calculate button, you will receive recommendations on the best cryptocurrency for mining.
Conclusion
Mining cryptocurrency can be profitable if you have the right hardware, software and some technical knowledge. In addition, you should know how to protect your investment.
This approach will allow you to receive passive income by choosing the best coins for mining. But before you invest money in any digital assets, examine everything that concerns them in order to feel financially secure.
Publication date 02/08/2019
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