Cryptocurrencies Worth Mining
Many people being keen on cryptocurrency matters do know that coins can be obtained through mining.
Mining cryptocurrencies is activity aimed at forming blocks in blockchain for regular functioning of crypto platforms. As soon as another structural unit has been built a user is rewarded with a bonus of some cryptocurrency.
Mining grew popular in 2013-2014 and is believed by many to be a spent force today, in 2018. There are numerous users, however, convinced that this is still efficient enough for making money.
Common knowledge is that mining is resource-consuming: from purchasing required hardware to huge electricity costs. Saving on mining is possible with the following points regarded:
- Choosing the most effective algorithms (like x11 scheme);
- Enhancing farm capacities: the more output, the more cryptocurrency;
- Joining pools for more cryptocurrency mined;
- Choosing appropriate mining hardware.
Note that almost any token can be mined, but a newcomer is recommended to opt for the most well-known ones. But which cryptocurrency is the most beneficial? Let us refer to the list of the most popular ones for today.
Bitcoin today demands enormous capacities. Immense power volumes and high-performance hardware are required which means mining Bitcoin is only profitable provided you’ve got low-cost electricity and can afford pricy equipment.
Moving on, currency rate is worth considering. Mid-summer last year Bitcoin cost $2,500, in December it has risen beyond $17,000. Despite rate decline of both Bitcoin and other coins last month, mining it is far more beneficial than ever before. Another upside to Bitcoin is a good many of pools, crypto wallets and exchanges of various types.
Another virtual currency to bring in is Ethereum. This one equals or even betters Bitcoin as far as promises are involved: Ethereum has proven to be growing dynamic and enjoys public confidence and demand.
Among the advantages and perks this cryptocurrency enables there are the following:
- Support and collaboration with large IT companies;
- Direct and rather simple conversion with USD;
- “Youthfulness” of the cryptocurrency which affects positively the capacities required for mining.
As for some strong negative sides it is hard to come up with any for now.
This one is quite challenging and promising cryptocurrency. Dash provides for some crucial factors of successful mining:
- Market cap has exceeded 1 bln dollars, which means the cryptocurrency has proven stable enough;
- Token price grows dramatically;
- It is rather young just as Ethereum;
- Easily understandable and realizable for financial file processing which augments mining efficiency.
Dash is a perfect option for mining yet there is a tangible drawback for it: it hasn’t stood the test of turbulences and consequently is not completely reliable.
The last but not the least one in the list of lucrative cryptocurrencies is Litecoin.
Unlike Dash Litecoin has passed a time check and proven to be crisis-resistant which means it is the most trustworthy cryptocurrency for mining. It has got a long life span and saw no abrupt rise but managed to cope with all storms and agitations and kept being rated among the best cryptocurrencies of 2017 and 2018.
Other bright sides of Litecoin include:
- Lots of tokens and high popularity;
- Litecoin is present at almost all crypto exchanges including Forex ones.
To sum it all up: Litecoin, Dash, Ethereum and Bitcoin are perfect options to mine. They are wide spread, but we can consider some less popular yet highly capitalized and demanded ones like:
- Ethereum Classic;
For accurate assessment of your mining farm please refer to whattomonline.com. Just enter necessary data of hardware unit you have, add power consumption rate and costs, select cryptocurrency type and that’s it: the platform calculates possible outcome.