Best Cryptocurrencies to Mine in 2021
One of the ways to obtain cryptocurrencies is through mining. Mining is a process by which all the information that enters the blockchain of that particular asset has been refined mathematically using a highly complex digital code that runs on the network. That blockchain network confirms and verifies all new entries as well as any changes that may occur on the ledger. Finding the best cryptocurrencies to mine can be a bit challenging because there are a wide variety of digital assets available on the market. That’s why we’ve prepared a list of cryptos that are profitable to mine in 2021.
The way mining works is very straightforward. Crypto miners compete with each other to solve the challenging mathematical problems that come with cryptographic hash functions. They do this using various mining equipment, including ASICs, GPUs, and others. The miners who find the solution first receive a percentage of the cryptocurrency as a reward.
Choosing a New Currency to Mine
Many people say crypto mining is slowly dying, but no one can confirm that on a global scale. All the same, picking a new cryptocurrency to mine has its share of challenges.
The crypto space is highly volatile, which means things can change fast. Choosing a new digital currency to mine requires an in-depth analysis regarding every aspect of the coin in question. All this means that you should check the technology used, the philosophy, and the market value behind the coin. It’s equally important to consider the team, roadmap, and other features of the coin.
One of the most important features to take into account is the mining difficulty of the coin. Market capitalization, recent price swings, and the number of use cases it supports are equally very important aspects to consider.
It’s also crucial to use a good online mining calculator that will help you determine the profitability of the coin amid constantly fluctuating parameters. Sometimes, the easiest cryptocurrency to mine might not be among the biggest ones by market size. However, it can be a promising investment asset in the long term.
Best Cryptocurrencies to Mine in 2021
There’s no single best cryptocurrency to mine. In some cases, it depends on what you want to use the cryptocurrency for, which determines the currency you choose. If you want to own cryptocurrency for investment purposes, you have a wide variety of priorities compared to someone who wants to use crypto for payments.
Additionally, some people are interested in crypto simply to pick a small bit and see what it entails. Generally, choosing a cryptocurrency is about optimizing privacy, speed, and utility. With that in mind, here are the best cryptocurrencies to mine in 2021.
Bitcoin still stands out as one of the best digital currencies to mine in 2021. As of this writing, the pioneer cryptocurrency stands at a valuation of over $50,000 per unit after accelerating above $60,000 in mid-April. Even with the volatility of the crypto space, Bitcoin is still the pacesetter for other altcoins.
Besides a block reward of 6.25 BTC, Bitcoin is a well-established cryptocurrency, which is transparent and anonymous. As the world’s first cryptocurrency, it enjoys wide support as well. Whether you’re looking for a crypto investment portfolio or you want to own crypto for payments, BTC is among the best cryptocurrencies to mine in 2021.
Litecoin is definitely among the pioneer digital currencies. It’s recommended for those who are looking for an already established cryptocurrency with very fast transaction times. Block generation in Litecoin is limited to ten minutes, and it offers a better storage capacity than most cryptocurrencies out there.
Importantly, Litecoin is mineable through ASIC miners, which implies that it requires a large initial capital investment. To maintain a decent profit while mining Litecoin, you should join one of the mining pools, such as Antpool, Litecoin Pool, or LTC.top. Currently, the block reward for Litecoin mining is 12.50 LTC coins.
Dogecoin may be one of the easiest cryptocurrencies to mine. Besides, it offers several other advantages. Firstly, DOGE is the altcoin with the most “philanthropic” community. Secondly, DOGE is mineable through a simple PC. Users can earn a reward by opting for more mining power using AMD/NVIDIA graphics cards.
For CPU mining, users can utilize CPU miner, while GPU mining works well with CGminer, CudaMiner, or GUIminer. Dogecoin miners can also join some of the best mining pools, such as CoinEx, 1Coinpool, Multipool, and Prohashing. Block reward for Dogecoin mining currently stands at 10,000 coins.
DigiByte is a decentralized blockchain system that supports multiple algorithm mining. An old public blockchain and cryptocurrency, DigiByte, works with five algorithms to improve security.
Those who choose to mine DigiByte should first visit the official website and block explorer to familiarize themselves with the cryptocurrency. DigiByte is mineable through different algorithms, including the Sha256d (available for Bitcoin miners). They can also use Skein, Odocrypt (FPGA), Qubit, and Scrypt (available for LTC miners).
DigiByte has three layers: a smart contract “App Store,” a public ledger, and the core protocol that features the nodes communicating to dispatch transactions. Overall, the DigiByte network appeals to developers who are looking to launch DApps and encode the necessary corresponding smart contracts.
Vertcoin is a decentralized currency that is specifically designed to be ASIC-resistant. It’s ideal for individual mining with either the CPU or GPU. Additionally, Vertcoin is mineable through a wide variety of AMD and NVIDIA graphics cards or through the official miner called One-Click Miner. While GPUs can yield bigger rewards, it requires a bigger upfront investment.
Cryptocurrency mining can be a profitable venture, but you need to have powerful mining equipment. Additionally, you need to identify the easiest cryptocurrency to mine. It requires the right approach and proper research before committing to a particular type of coin to mine. This guide may not be exhaustive, but it does provide useful information to start your search on the best cryptocurrencies to mine this year.
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Note: This post was originally published on 5 March 2019 and has been totally updated for the completeness and veracity of the content on. 12 May 2021.