WWhen it comes to mining, the most important factor to consider is profitability. However, some novice miners may misinterpret this metric: it does not depend solely on the price of the currency.
You should also consider the operating costs of a cryptocurrency mining platform, as well as the amount of cryptocurrency you can get per day, the number of blocks you need to mine to make a profit, and so on.
Using a mining calculator to calculate the profitability of your future mining operation is a good idea. To see how much profit you can get per day, enter the cryptocurrency you want to extract, your hardware, hashing power, and more.
Remember that mining is a long-term investment, and because of the high volatility of the cryptocurrency market, what is profitable today can cause you to lose money tomorrow.
Here are some of the best cryptocurrencies to mine in 2022:
When it comes to choosing which cryptocurrency to mine, many people choose the second most popular cryptocurrency and the original smart launch platform. However, in most cases, the more people try to extract a single coin, the more profit each will have, partly because each block reward is halved / tripled, etc., and partly because the coin reaches its own. total offer. faster.
Ethereum Classic (ETC)
To recover from a DAO attack, Ethereum had to perform a hard fork in 2016. Ethereum Classic is a slightly modified and updated version of the original Ether, prior to 2016, as the name suggests. CPUs and graphics cards can be used to mine.
Monacoin is a fork of Litecoin. It is one of the best cryptocurrencies to mine with GPU miners thanks to its Lyra2RE (v2) working test hash algorithm. All that is required is a secure hardware wallet and a hardware device capable of extracting the coin.
The Lyra2REv3 working test hash algorithm is used to create Vertcoin. This cryptocurrency is resistant to ASIC mining, which means that it can only be extracted using a GPU or CPU. This has been done to ensure a more equitable distribution of currency, as ASIC-compliant cryptocurrencies are often mined by mining companies and centralized ASIC pools, making the process much less democratic. To promote decentralization, the creators of Vertcoin made the currency resistant to ASIC. Decentralization is one of the original ideas behind cryptography.
Another ASIC-resistant cryptocurrency is ZCash. The company that created it also places a lot of emphasis on privacy, which has helped gain traction in the cryptographic world. Although this coin is more difficult to extract due to its ASIC resistance, it is worth it: the (fairly high) price of the coin is more stable and reliable as a result of its inability to extract with ASIC, so it is a good long-term investment. term. .
Grin is a community-run cryptocurrency that is completely open source. Every minute he draws a block of 60 smiles, producing one coin per second, indefinitely. With a reward for fixed block mining, that linear emission creates a steady increase in supply while reducing the rate of inflation. This design not only ensures the long-term security of the blockchain, but also makes the mining process more equitable and democratic.
Monero is one of the most popular currencies for mining, and for good reason: it has an unlimited supply, which means that its mining difficulty does not increase as fast as that of Bitcoin, it has a high price and is among the 44 best in the world. market. capitalization. It has a bright long-term future. Monero is one of the most profitable cryptocurrencies for mining in general.
RavenCoin uses the KAWPOW algorithm. It is one of the easiest cryptocurrencies to extract with a GPU, making it ideal for newcomers. This currency is among the top 100 in terms of market capitalization, making GPU mining a viable option.
DigiByte, which is based on UTXO technology, processes network transactions using five different standalone algorithms. This technology supports a variety of mining options, including ASIC, GPU, and CPU, making DGB mining as cost-effective as possible.
AE uses CuccooCycle hashing to combine the Proof-of-Work (PoW) and Proof-of-Stake (PoS) algorithms, allowing miners to create blocks while verifying transactions.
Due to the unique focus of the network and the speed of operation, Aeternity is currently one of the most profitable currencies to mine.