Cryptocurrencies have become a great option to acquire goods and services without being subject to a local entity or bank as an issuer. In this post, we will talk about the most profitable cryptocurrencies to mine?
The most profitable cryptocurrencies to mine
Before telling you which are the most profitable cryptocurrencies to mine, it is necessary to know in detail each of these aspects.
Mining cryptocurrencies
The mining of a cryptocurrency is something that not many people know, it is a process in which different types of applications, hardware and software are used in computers that allow and guarantee the security of networks, avoiding possible attacks on investors.
This activity is usually rewarded for all services offered and mainly consists of trading and entering a currency in a certain market.
How to extract
To mine cryptocurrencies, it is necessary to perform calculations that accelerate, protect transactions and allow you to add new coins after a mathematical study of the behavior of the new coin. When you perform these steps, you will be paid to improve the cryptocurrency market. This process will be organized by blocks of transactions in the network which are usually reviewed by miners.
Calculation of profitability
To mine a cryptocurrency, a lot of study and various elements such as CPU, application-specific ICs, GPU processing units, and cloud mining are required. You need to consider the following information:
Cost analysis
To continue with the process of mining a cryptocurrency, it is necessary to consider the process to mine some can be the CPU, graphics cards, and other systems that we have already mentioned. Some consume more energy than others. It is, therefore, essential you examine the coin, the device and the amount of energy it consumes.
Most profitable cryptocurrencies
On the other hand, even if this market is variable, the cryptocurrencies that represent the most profitability are:
Bitcoin
Bitcoin is the most popular and currently, the most profitable. To mine this type of cryptocurrency it is necessary to have an extraction system or equipment called an “ Application Specific Integrated Circuit ” ( ASIC ), which operates to perform all kinds of cryptographic operations and calculations.
Dash (DASH)
Created in 2014, it serves as a tool to process safer financial transactions. It is one of the most popular and well-known cryptocurrencies in the world. DASH operates through the platform via swift.
Grin (GRIN)
It is one of the easier options for mining. You can use it to mine consumer GPUs such as Nvidia GTX and AMD graphics cards. The reward obtained is 60 Grin per hash.
Dogecoin (DOGE)
To mine this cryptocurrency it is necessary to have a CPU and a GPU for each hash you get a reward of 10,000 DOGE tokens.
ZCash (ZEC)
Created in 2016, you can mine it using a GPU. That is, it is necessary to have a graphics card and operate under the logarithm known as Equihash. The reward for mining this type of cryptocurrency varies between 3,125 tokens.
Litecoin (LTC)
It has a high profitability until 2021, and you can extract it from GPU. That is, from graphics cards.
Ethereum (ETH)
The second most popular after bitcoin. It provides a mining reward of 2 ETH and operates under the same Equihash logarithm.
Monero (XMR)
Created in 2014, it is one of the safest investments as it provides anonymity in the process. For mining, it uses application-specific integrated circuits ASIC. You need to use CPU devices to mine it.
It is possible to choose the most profitable cryptocurrency to mine. You should have a prior analysis of both the costs and the currency and the devices to use since both the money you invest and the rewards are at stake in the process. Everything is a risk, but you must mitigate it to obtain maximum profitability without generating extra costs.
