Top 10 Most Profitable Crypto Coins To Mine in 2020
Top 10 Most Profitable Crypto Coins To Mine in 2020
Is cryptocurrency mining profitable now? Both it depends. This will depend on what and how you mine as well as your electricity bills can vary greatly based on where your rigs or farms can be found. Bitcoin (BTC) isnt the most profitable mining coin anymore: mining difficulty is indeed high it requires the complete farms jam-packed with juggernauts servers to obtain a block. Luckily, there’s a couple of great altcoins producing profitable mining possible. Although mining is not as dirt-cheap and profitable option as it used to be a few years ago, it’s still a legitimate way of earning crypto and enjoying almost passive income. Miners are now smarter & way more experienced in crypto trading.
They prefer mining the most promising cryptocurrencies only as there’re done wasting precious hashpower, time and investments on new coins with a low trading volume. Nevertheless, there are a sufficient number of enthusiasts to aid a fresh crypto project by mining or minting blocks and confirming transactions longing for another take-off to the Moon. Want to become listed on the crypto mining industry and got a GPU or CPU-based miners ready? Discover what are the most profitable GPU and CPU mining coins in 2019-2020. Estimate Profitability First Before we start enlisting most profitable coins, let’s discover what defines crypto mining profitability: Price of Cryptocurrency.Regulations is simple: the more costly a coin is, the more profitable mining ought to be. However, it’s true limited to short-term investments. If you’re patient enough, you can mine a promising coin and wait till the purchase price grows. Block reward & Halvings.
Why is cryptocurrency mining 2019 less profitable than before can be halving of rewards. For instance, another BTC halving will need place in 2020 rendering it even less attractive. Or recent Litcoin (LTC) halving which slice the profits from 25 to 12.5 LTC. Make your own research to work out whether your investment in mining equipment will become compensated by the quantity of coins mined. Time of block generation. The more blocks are generated by the network, the bigger the chance to getting rewarded for a found block. Mining difficulty and hash rate. Both GPU and CPU mining 2019 is fairly challenging due to a higher number of miners involved. However, it’s still possible to find a niche coin where you can make a decent profit without suffering from competition. Find out most profitable algorithms & coins to mine on WhatToMine.com Equipment efficiency. It depends on your budget and current difficulty of a coin, so choose accordingly. Theoretically, the power of mining equipment should be continuously increased, but in reality, it’s too expensive to invest in GPUs all the time. The cost of electricity cost. This is the most important when calculating the profitability of cryptocurrency mining. Below you can find a list of countries with the cheapest electricity bills. Is cryptocurrency mining profitable now? Both yes and no. It depends on what and how you mine plus your electricity bills may vary depending on where your rigs or farms are located.
Bitcoin (BTC) is not the most profitable mining coin anymore: mining difficulty is so high it requires the whole farms jam-packed with juggernauts servers to get a block. Luckily, there’s a bunch of great altcoins making profitable mining possible. Although mining is not as dirt-cheap and profitable option as it used to be a few years ago, it’s still the best method of earning crypto and enjoying almost passive income . Miners are actually smarter & a lot more experienced in crypto trading. They choose mining the most promising cryptocurrencies only as there’re done wasting precious hashpower, time and investments on new coins with a minimal trading volume. Nevertheless, there are a sufficient number of enthusiasts to aid a fresh crypto project by mining or minting blocks and confirming transactions longing for another take-off to the Moon. Want to become listed on the crypto mining industry and got a GPU or CPU-based miners ready? Discover what are the most profitable GPU and CPU mining coins in 2019-2020.
Estimate Profitability First
Before we start enlisting most profitable coins, let’s discover what defines crypto mining profitability:
- Price of Cryptocurrency. Regulations is simple: the more costly a coin can be, the more profitable mining ought to be. However, it’s true limited to short-term investments. If you’re patient enough, you can mine a promising coin and wait till the purchase price grows.
- Block reward & Halvings. Why is cryptocurrency mining 2019 less profitable than before is halving of rewards. For instance, another BTC halving will need place in 2020 rendering it even less attractive. Or recent Litcoin (LTC) halving which slice the profits from 25 to 12.5 LTC. Make your own research to work out whether your investment in mining equipment will become compensated by the quantity of coins mined.
- Time of block generation . The more blocks are generated by the network, the bigger the chance to getting rewarded for a found block.
- Mining difficulty and hash rate . Both GPU and CPU mining 2019 is quite challenging due to a high number of miners involved. However, it’s still possible to find a niche coin where you can make a decent profit without suffering from competition. Find out most profitable algorithms & coins to mine on WhatToMine.com
- Equipment efficiency . It depends on your budget and current difficulty of a coin, so choose accordingly. Theoretically, the power of mining equipment should be continuously increased, but in reality, it’s too expensive to invest in GPUs all the time.
- The cost of electricity cost. This is the most important when calculating the profitability of cryptocurrency mining. Below you can find a list of countries with the cheapest electricity bills.
How to choose the best coin to mine in 2020?
Even if you use the best GPU for mining 2019 and plan to mine thousands of coins, think how and where you will use them. There are a few aspects that matter:
- The possibility of withdrawing to fiat . Find the exchange platforms enabling you to convert the recently mined coins to fiat or buy some popular tokens like ETH or BTC. Don’t forget about exchange fees, as well.
- Which exchanges support the coin ? With regards to unpopular or low-quality coins, a few of them can only just be withdrawn to the inner wallet of crypto exchanges. Exchanges with a minimal level of popularity and so are forced to utilize shitcoins (even if mining seems profitable) and depend on large commissions as the only path to survive. In this case, the miner will become forced to give a serious share of the earned only for withdrawal. https://blockchaincasinos.online/
- Make certain it’s legal . Some countries possess pretty strict regulations concerning cryptocurrency mining. If it’s totally banned in your country – better prevent the risk. In a few countries, authorities pay particular focus on the cryptocurrencies with a high level of anonymity because they serve as a perfect money-laundering tool and allow for illegal trading. Be sure you won’t have any legal issues after mining a new coin
- Now when you’ve decided which cryptocurrency to mine, measure the long-term usage of the purchased tools . The problem can be that the complexity of mining keeps growing rapidly and mining tools is always doomed to reduce its value.
Top-10 best altcoins to mine in 2020
In this list, we've collected cryptocurrencies that are widely available for mining: you don’t have to build the entire mining farm to start earning. Moreover, each coin has tons of potential, so cryptocurrency profitability shouldn’t be a big concern.
1. Grin (GRIN) – Best for GPU mining
Green is a relatively new cryptocurrency based on the MimbleWimble consensus algorithm, which ensures the privacy of transactions within the network. Grin has unlimited coins, which is certainly attractive for miners. The complexity of mining changes dynamically in accordance with the hash of the network. The coin uses the so-called Cuckoo Cycle concept. We are talking about two PoW algorithms: CuckARood-29 and CuckAToo-31. The first is suitable for mining on GPU processors and is protected from ASIC miners, the second is geared specifically for them. At the same time, work with ASIC is planned for the future, so while CuckAToo is compatible with video cards. The coin is traded on 24 crypto exchanges, including the famous Poloniex, HitBTC, Bittrex, OKEx and KUCoin. Algorithm: Proof-of-Work
Hashing Function: MimbleWimble
ROI since launch: -71.77%
Curr. Price: $ 2.81 USD
Mining Reward: 60 GRIN per block
https://grin-tech.org/
2. ZCash (ZEC)
ZCash (ZeroCash) was released in October 2016. This coin, since it can be mined by anyone. Its algorithm allows using mining graphics cards. ZCash is completely anonymous in transactions. It is impossible to track them. Many people really like this feature. The commission for ZCash transactions is negligible, so it’s absolutely convenient for trading and selling. In 2017, ZCash was massively introduced in popular exchange platforms. Yet, the coin is greatly underestimated and, most likely, will reveal its potential only in 2019/2020. Algorithm: Proof-of-Work
Hashing Function: Equihash
ROI since launch: -98.69%
Curr. Price: $56.16 USD
Block Mining Reward: 10 ZEC
https://z.cash/
3. RavenCoin (RVN)
This Bitcoin hardfork appeared in 2018, and already boasts high liquidity. Today, it’s #41 world cryptocurrency with the market cap over $155 mln. In 2019, developers will add a set of new great benefits (messaging, voting with RVN, better compatibility, mobile wallet with seed phrase), that will increase its value. RavenCoin could be easily exchanged in lots of different platforms. In its essence, it’s a P2P blockchain that serves for efficient and fast transfer of assets in one person to some other. It targets asset transfer based on Ethereum and Bitcoin. Why RavenCoin is preferred for miners? It uses X16R algorithm and proof-of-work protocol. Algorithm: Proof-of-Work
Hashing Function: X16R
ROI since launch: 39%
Curr. Price: $0.036818 USD
Block Mining Reward: 5,000 RVN
https://ravencoin.org/
4. Monero (XMR)
Existing out there since 2014, Monero provides became reliable and viable. Since 2017, XMR entered an uptrend and continues growing. Unlike ZCash, it provides 10 times higher fees, but users still value Monero for a fantastic degree of anonymity provided. Monero keeps altering its algorithm to avoid the chance of ASIC-mining, which means you are free to make use of GPU and CPU to mine it. Monero leverages CryptoNightV8 proof work algorithm and generates 3.38 XMRs as block reward every 2 minutes, so it’s quite profitable for mining. Algorithm: Proof-of-Work
Hashing Function: CryptoNightR
ROI since launch: 3,502.62%
Curr. Price: $89.12 USD
Block Mining Reward: 2.47 XMR
https://getmonero.org/home
5. Ethereum Classic (ETC)
A hardfork of Ethereum, Ethereum Classic could be mined with several GPUs. It includes a bit higher block reward (4 ETC), and even though ETC may have higher inflation and scarcity, it’s still an extremely profitable cryptocurrency. Buy a couple of NVidia or AMD cards, and revel in passive income. Algorithm: Proof-of-Work
Hashing Function: Ethash
ROI since launch: 670.86%
Curr. Price: $5.80 USD
Block Mining Reward: 4 ETC
github.io/">https://ethereumclassic.github.io/
6. Litecoin (LTC)
When you can allow buying more or less expensive GPU, try mining Litecoin – all in all, this is one of the most successful Bitcoin hard forks. Why Litecoin?
- It can be easily exchanged on a variety of platforms.
- It’s less volatile than many other altcoins.
- It’s one of the best GPU mining coins – you don’t have to buy ASIC because it uses SCRYPT protocol.
- High speed and moderate transaction fees.
The top-5 world cryptocurrency with a $5.3 bln market cap, Litecoin will never be a wrong decision. Algorithm: Proof-of-Work
Hashing Function: Scrypt
ROI since launch: 1,880.94%
Curr. Price: $85.18 USD
Block Mining Reward: 12.5 LTC
https://litecoin.org/
7. Bitcoin Gold (BTG)
Another great mining cryptocurrency 2019, Bitcoin Gold was created specifically for GPU mining. It’s based on the consensus between Equihash algorithm and POW protocol. It’s ranked as 34th world cryptocurrency with its $260 mln market cap.
By the way, an interesting chart from bitinfocharts.com reflects the leadership
of Bitcoin Gold in revenue in USD for 1 KHash / s.
One of the main reasons to try Bitcoin Gold is stability. Although it didn’t grow during 2019, it’s appeared to be less volatile than other altcoins. The coin has avoided being affected by the bearish trend this year – it’s a good sign. Algorithm: Proof-of-Work
Hashing Function: Zhash
ROI since launch: -96.93%
Curr. Price: $14.73 USD
Block Mining Reward: 12.5 BTG
https://bitcoingold.org/
8. Electroneum (ETN) – Best For CPU Mining
One of the ASIC-resistant coins, Electroneum was launched in 2017 and even though its price hasn’t risen since that time, it still has potential to grow. Electroneum blockchain uses POW algorithm and is dependant on the most recent version of CryptoNote algorithm, so that you can also mine it on your own smartphone. To become proud owner of multiple ETN coins, you may use CPUs, AMD or Nvidia GPUs. Moreover, there’s an ETN mobile application designed for iOS and Android – it serves as a wallet and gives you mining ETN. Algorithm: Proof-of-Work
Hashing Function: CryptoNight
ROI since launch: -95.44%
Curr. Price: $0.004302 USD
Block Mining Reward: 7,000 ETN
http://electroneum.com/
9. Dogecoin (DOGE)
The creation of Billy Markus, Dogecoin cryptocurrency was made simply for fun, nonetheless it suddenly became popular and today is #29 world cryptocurrency with $346 mln marketplace cap! Like Litecoin, it uses Scrypt protocol, which means you don’t need to use very costly machines to include DOGE to your portfolio. However, it doesn’t mean you need to use your laptop for mining. Dogecoin is very popular, so is certainly its mining difficulty. Use a CPU/GPU to take pleasure from steady performance and income. Algorithm: Proof-of-Work
Hashing Function: Scrypt
ROI since launch: 407%
Curr. Price: $0.002838 USD
Block Mining Reward: 10,000 DOGE
http://dogecoin.com/
10. Ethereum (ETH)
In 2019, Ethereum has got its second place back again, and the price tag on the coin is likely to grow after reduced amount of reward from 3 to 2 ETH. Because of this, a decrease in supply, if there is demand, usually flows into an increase in value. JoeTechnologist creator Joe Rachinski claims ETH will cost $ 1,200 by the end of 2019. Nigel Green believes ETH will even cost $ 2,500. This will be facilitated by increased demand for digital currencies, the popularity of smart contracts and the decentralization of cloud computing. Algorithm: Proof-of-Work
Hashing Function: Ethash
ROI since launch: 7,308.95%
Curr. Price: $209.79 USD
Block Mining Reward: 2 ETH
ethereum.org/">https://www.ethereum.org/
Bitcoin (BTC) – The King
Bitcoin remains the king of cryptocurrencies with a current dominance index of 68.6% according to CoinMarketCap. A recent survey from a well-known crypto-community influencer @hodlonaut, more than 60% of cryptocurrency holders assign more than 75% of their portfolio to Bitcoin (BTC). It is a brand and has its own unique currency symbol – â‚¿ . Moreover, the “2020 BTC block reward halving” is coming soon and will reduce the reward for the mined block from 12.5 to 6.25 bitcoins. A decrease in production, as a basic rule, means an increase in the value of the asset, especially with that constantly growing demand. There is still enough time to start mining some bitcoins. It is important to understand that despite all the positive aspects, Bitcoin mining remains an extremely competitive market and the situation will only worsen in this sense. Anticipate to invest enough in mining equipment, tech support team, also to pay some huge electric bills. Also, Bitcoin mining is dominated by ASIC mining machnines for quite some time already. Do not also try to try mining it on a CPU or GPU. Algorithm: Proof-of-Work
Hashing Function: SHA-256
ROI since launch: 8.215.50%
Curr. Price: $ 11,250.88 USD
Block Mining Reward: 12.5 BTC
https://bitcoin.org/
By the way, when you have a fairly moderate amount of mining power, you can boost your crypto mining profitability by joining a mining pool (mine as well as others and share profit). Listed below are platforms enabling it:
Coin Mining pools Monero MineXMR, MinerGate, Nanopool, Dwarfpool Ethereum ETHfans, Dwarfpool, F2pool, ETHpool, MinerGate Ethereum Classic Ethermine, Nanopool, Miningpoolhub, 2miners Ravencoin Pickaxe.Pro, Virtopia Mining Pool, XiTech, Zergpool Litecoin Multipool, Prohashing, Litecoinpool, NiceHash, viaBTC Dogecoin Aikapool, Litecoinpool, Multipool, Prohashing Bitcoin SlushPool, BTC.com, F2Pool, Antpool, Poolin
IMPORTANT THING
Is crypto mining worthwhile? Absolutely yes, in the event that you calculate all investments and earnings beforehand and constitute an intensive plan. Your budget should correspond using what you’re likely to mine. The popular and expensive a cryptocurrency is certainly, the better equipment is necessary.
