10 Best Popular Cryptocurrencies to Mine (2022)
Looking to earn cryptocurrencies without depositing and investing your money in them? If so, you are on the right page for detailed information on easy-to-mine coins. We will also inform you about the best cryptocurrencies to mine using GPUs.
Primarily, miners receive Bitcoins for completing “blocks” of verified transactions added to the blockchain. So, you can start mining today. It’s just that you need to know before investing in these digital currencies with proper GPU settings.
What is the GPU? How to Mine Cryptocurrencies with GPU?
Cryptocurrency mining was originally carried out using CPU (Central Processing Unit), not GPU. However, the GPU replaced it a few years later because it had limited processing speed, made the mining process inefficient, and consumed a lot of power, resulting in limited production.
When the GPU came onto the scene, things got easy and smooth.
GPU (Graphics Processing Unit) is solely responsible for the digital representation in the computer system. Therefore, the GPU is of utmost importance in blockchain mining as it improves speed and accuracy because it has immense power potential. Therefore, miners especially use the GPU to mine the coin before forming a decentralized network of processing power.
When it comes to mining crypto, one must have a robust GPU.
How to Mine Cryptocurrencies With GPU?
To embark on your magical journey with cryptocurrencies, you must go through and require the set of things mentioned below:
- Free mining software package.
- Free private database; your wallet will save all your earnings and allow you to see all your transactions.
- Membership in an online group. Basically, you have to join the community of expert miners in combining your computers to ensure consistency of income and earnings.
- Membership in an online currency exchange.
- Custom computer for trouble-free mining.
- A specialized processing device or ATI Graphics Processing Unit (GPU)
- Extensive research and development.
Types of Cryptocoins Mining
- Crypto mining as a process
- Crypto mining as a method
There are two ways of looking at crypto mining; based on your interests. Either you may perceive it as a process, or you may be interested in the methods used.
1. Crypto Mining as a Process
- ASIC Mining
- CPU mining
- GPU mining
ASIC mining works with particular algorithms. With the intention of mining cryptocurrencies, it is practiced on special equipment.
Mainly, it is a computer component built for a particular type of application. However, it is superior to CPU and GPU in terms of performance, as it can run much faster than both, with a hash rate of up to 14 TH / s. As a result, it generally leads to higher profits.
CPU mining is processor-based mining. The best part about CPU mining is that you can exercise it by getting a CPU and getting your hands on the mining process. So before investing in GPU and ASIC, you can give CPU mining a try.
However, this mining is out of date and not used today. There are many reasons, including:
- It is extremely slow
- An average hash rate is 0.7 MH / sec.
- High power consumption
CPU mining is too inferior to ASIC and GPU mining. You may also not be able to validate transactions with it.
It is a video card based mining. Basically, it is the video card of your computer needed to play games.
GPU miners are flexible and have the potential to mine different cryptocurrencies. This allows you to switch between currencies in case the market is bearish or bullish. In addition, it offers several advantages, especially in the fields of games, video editing and streaming.
The main drawback of GPU mining is that it consumes a lot of power compared to ASIC. Furthermore, it involves a complex calculation. You may also need to be patient as it may take a while to recoup your initial investment.
2. Crypto mining as a method
It is an ideal option for miners who are not tech savvy and just want to enjoy the show without having technical knowledge. Such miners have a different approach and perform crypto mining with 3 different methods, including:
- Cloud mining
- Pool Mining
- Solo mining
After analyzing the high-priced equipment required for mining, those who want to minimize their risks and investment options for the cloud mining option.
The main benefit of cloud mining is that it helps expand the usability of cryptocurrencies. Furthermore, this technology also enables crypto users to start renting computer power from industrial mining services.
Therefore, it will be easy for you to find the best cryptocurrency to mine with minimal investment. Furthermore, you can also quit smoking at any time without incurring any additional investment pressure.
Not everyone can invest a lot of money to mine the best currency. The developers found a solution to this problem which is pool mining.
This method makes the cryptocurrency mining process easier and you get the rewards. To join this vast ocean of pool mining, the miner needs a server that combines the computational power of all the other miners waiting to join the pool. Therefore, this method increases the chance of winning nice rewards by unlocking new coins.
As the name suggests, it is individual mining where you can work after purchasing your own equipment. Solo miners are not dependent on other miners and get rewards every time they unlock a new currency.
While the rewards are promising and exciting, the competition is just as challenging for solo mining. Miners need to invest a considerable amount to buy the equipment if they want to be the first to validate the transaction.
You can think about solo mining only if you have a large amount in your pocket to invest.
Cryptocurrency Mining Terms
Hash rate: A miner has the opportunity to make a series of guesses about the hash of a block.
GPU– GPU is designed to render a 3D design. The GPU is capable of creating more guesswork than the CPU.
CPUs: CPUs are the brain of the computer that processes information for the command that is given to it. Also, it is the cheapest way to mine cryptocurrencies.
ASIC: The application-specific integrated circuit is the specially designed chips for mining cryptocurrencies. However, they consume a lot of energy but act as one of the best sources for mining.
Mining rig: The main purpose of the mining rig is to increase the hash rate of the minor as it is the combination of CPU, GPU and ASIC chips running together.
Proof of work – Proof of work is important when it comes to the security of any cryptocurrency. This is because it makes it very expensive and almost impossible to fool the encryption network. Proof of work is the process of guessing the hash and is an essential security feature for most blockchain networks.
Cryptocurrency Mining Breakdown
Why would you think about cryptocurrency mining? Simply because with each new cryptocurrency mined, you would be rewarded with a fraction. As simple as that!
Crypto mining is the process of solving puzzling mathematical equations to authorize crypto transactions. Some people think that cryptocurrency mining is creating a new coin entirely, but it is not correct. Instead, it is the process of releasing a cryptocurrency from full supply. It means that you can even mine a cryptocurrency that is already circulating in the market.
Most cryptocurrencies have a limited supply of coins, so the value of these coins increases as demand increases. Like the market’s rule of thumb, when demand exceeds supply, prices tend to skyrocket. The value also increases as the coin becomes rarer, allowing its value to increase just like gold.
Mining was popularized by Bitcoin using the same system to secure its blockchain. The mining industry is consolidated and professionalized, so it becomes quite difficult to mine coins with GPU (Graphics Processing Unit). As a result, it is imperative that small miners join larger groups for big rewards.
Many cryptocurrencies are mined using mining equipment: Application Specific Integrated Circuit (ASIC), designed to mine a particular crypto asset. Therefore, it could be a challenge for you to compete with other competent miners if you do not constantly update the ASIC miner to the latest version as you may not earn rewards for the same coin.
How to Choose the Best CryptoCoins to Mine in 2022?
- Ensure its legitimacy
- Evaluate long-term use of purchased equipment
- Number of exchanges that back the coin.
- The possibility of retiring to fiat
Ensure its legitimacy
Some countries have neither legalized nor banned cryptocurrency mining. It is better to avoid the risk if your country does not allow illegal trade. However, in some countries, the authorities allow cryptocurrency trading with a high level of anonymity, as they serve as the perfect money laundering tool. If you find it difficult to extract a coin in the place or country where you reside, it is better to go for the commercial option.
Evaluate long-term use of purchased equipment
It is essential to evaluate the long-term use of the mining equipment through which you would mine the coin.
Number of exchanges that back the coin.
It is essential to check which exchanges are backing the coin. If less popular exchanges support the coin, it means that withdrawal can only be made to the internal wallet of crypto exchanges. In this case, even if mining looks profitable, the miner is forced to give large commissions to exchanges just for withdrawals, as these unrecognized exchanges are forced to work with shitcoins and rely on high commissions.
The possibility of retiring to fiat
Remember that an exchange fee on each exchange platform allows you to convert the newly mined coins to fiat. Or you also have the option to buy famous tokens, including Bitcoin, Ethereum, or Ripple.
Best Popular Cryptocurrencies to Mine with CPU (2022)
Bitcoin is the strongest and oldest cryptocurrency in the world. However, it is not the best cryptocurrency to mine. You may be thinking, what is the best currency for mine? Or what are the main cryptocurrencies for mining that can generate extraordinary returns?
Our team has done extensive research to discover the most profitable coins to mine. So take a look at the spectacular cryptocurrencies to mine through which you can multiply your investment in a few months. We have listed the 11 best coins to mine in 2022 below:
Best Popular Cryptocurrencies List to Mine with CPU (2022)
Bitcoin Gold (BTG)
Ethereum Classic (ETC)
Bitcoin Gold (BTG)
GPU mining is incomplete without mentioning Bitcoin Gold. It is one of the best cryptocurrencies to mine using GPUs released to get rid of ASICs. In addition to kicking out ASIC miners, it also involves minimal investment, unlike other altcoins.
The main objective of this crypto was to reduce the risk for the miner. The focus of the Bitcoin Gold developers was to minimize the risk so that investors do not have to dump BTG Antminer even if the price of the cryptocurrency drops dramatically. The best part is that you can direct your hashing power to any currency you want.
Bitcoin Gold’s goal of transforming that thermodynamic energy into digital assets will be met. So, if you are thinking of starting to mine a cryptocurrency, go for it
Dash is a combination of digital word and cash. The coin was launched in January 2014 as Xcoin. After a few days, it changed its name to Darkcoin before finally being renamed “Dash” in March 2015.
Dash is an open source cryptocurrency that gives users the freedom to spend anywhere and move their money whenever they want. The main purpose of this coin is to ensure safe and seamless money transfer transactions around the world via PrivateSend and InstaSend.
This currency was forked from Litecoin and Litceoicn was forked from the Bitcoin protocol. Furthermore, this crypto is also a decentralized autonomous organization run by master nodes (a subset of its users).
So far, Antminer A3 produced by Bitmain is considered the best Dash ASIC miner.
It can be immensely profitable to mine this coin in 2021 as it is one of the most profitable coins to mine. However, it is imperative to ensure the hash rate of your mining device, the cost of electricity, and the range of the network at your location, as the profitability of mining is highly dependent on these factors.
Dogecoin is a cryptocurrency created for fun with the Billy Markus dog symbol. This cryptocurrency is way ahead in the altcoin rally, which has broken many records and shows no signs of slowing down.
Mainly, it is a fully functional cryptocurrency that can store value and be used for transactions.
In May 2021, its price rose to $ 0.558, which was only 0.00026 in December 2020. The daily trading volumes of this coin skyrocketed and the market capitalization peaked at 93.38 billion. Amazing!
The coin has no supply limit, which means that it is not considered a hedge against inflation.
It uses the Scrypt protocol similar to Litecoin, as it does not allow you to buy expensive machines to add doge to your wallet. However, this does not mean that you have to use your PC or laptop to mine this coin. To make your mining perfect, you can use a GPU / CPU to ensure its efficient performance.
Some of the best software for mining dogecoin using GPUs include CudaMiner, Cgminer, and GUIminer. Whereas, if you are using CPU to mine this coin, use CPUminer.
Ethereum Classic (ETC)
Ethereum Classic is a cryptocurrency that aims to maintain the original Ethereum blockchain. This spectacular crypto platform was launched in July 2016. Currently, it has a market capitalization of more than $ 13 billion. This Cryptocurrency recently applied a limit to the supply of coins at 210 million.
It is ranked 16th on the list of the world’s top cryptocurrencies. Ethereum Classic is a modified version of Ethereum’s Ethash mining algorithm called EtcHash, which supports DApps and Smart Contracts.
It is quite simple to start mining this cryptocurrency just by purchasing the wallet and a graphics card that supports this cryptocurrency. Also, the blocking time of this crypto is less than that of other crypto, which is around 13 seconds.
Unlike Bitcoin, grin is not in limited supply, which makes it attractive to miners. It has a market capitalization of $ 66.87 million, while 72.54 million are in circulating supply.
The grin was recently launched in 2019, allowing crypto mining users without large investments. Furthermore, this Cryptocurrency has chosen to run the Cuckoo cycle mining to make it ASIC resistant.
The process followed in Grid does not allow any residual information of transactions in the network, which enforces your privacy in the long term.
Grin is a lightweight application of the protocol that aims to be more scalable and less storage intensive than other privacy coins.
Litecoin is an open source software project released under the MIT / X11 license. It is a peer-to-peer cryptocurrency established in October 2011. Technically, it is identical to Bitcoin.
Litecoin mining will never be a wrong decision as it is a robust cryptocurrency used by a wide range of users. Also, it uses the SCRYPT protocol, which means you don’t need to buy ASIC chips; and can be easily removed with the GPU.
Furthermore, it is less volatile than other altcoins, making it easily tradable on a wide range of platforms. Also, it is a high-speed currency with lower transaction fees
Metaverse is a China-based currency that powers the blockchain-as-a-service (BAAS) platform.
It is an open source public blockchain that provides digital identities, assets, properties, and oracles as an infrastructure for organizational and social needs.
This is the right time to be successful mining this cryptocurrency. If you convert your ETP earnings into other cryptocurrencies quickly, it is very possible that you will make higher profits.
Monero is a cryptocurrency that uses the RandomX hash function. It is based on the CryptoNote protocol which has the highest importance of fairness in cryptocurrency mining.
Monero is one of the top cryptocurrencies for mining, with over $ 3 billion in market capitalization. It is ranked 14th on the cryptocurrency market list, which is also ASIC resistant, similar to Verticoin.
The best part is that it is easy to set up a mining rig for this crypto. You just need to purchase the mining hardware along with the wallet, and you are ready to set it up.
Also, the blocking time of this crypto is 2 minutes, while the maximum supply is not mentioned.
RavenCoin is one of the most profitable coins to mine, which is mainly focused on transforming decentralized mining. It is named after the little blackbirds in George R.R Martin’s fictional world of Westeros.
This cryptocurrency was launched on January 3, 2018 (on the 9th anniversary of Bitcoin). The coin was designed to allow instant payments without hassle. In 2019, the developers introduced this coin with great features like enabled messaging, opening phrase mobile wallet, better compatibility, voting with RVN, etc.
The main objective of RavenCoin is to create a blockchain optimized for the transfer of assets from one person to another. The main reason it is recommended for miners is that it uses the X16R algorithm and the KawPoW protocol.
It is based on Ethereum and Bitcoin in terms of asset transfer. RavenCoin’s total coin supply is 21 billion and a market capitalization of over $ 135 million.
This cryptocurrency was designed with ASIC resistance, which makes it difficult for miners to mine the coins. Zcash was established in the year 2016.
Zcash reviews tell us about its long-term sustainability, as the value of this crypto is less fragile than other cryptocurrencies. Another nice feature of Zcash is that it is equipped with more privacy features than other coins.
Traders generally prefer it as it is a straightforward and hassle-free altcoin to trade and sell. Also, the commissions here are very reasonable.
Zcash is classified into easy-to-mine coins, as its algorithm allows them to be mined via GPU.
Mining Profitability Calculators
While you are working on the best Cryptocurrency to mine, it is important to check the profitability of each Cryptocurrency with the help of a mining profitability calculator.
Listed below are the steps that will help you find the best coin to mine effortlessly by allowing you to compare with the profitability calculator:
Once you enter the total hashing power of your mining rigs, you can check each GPU, CPU, or ASIC chips rate. You can check all of them on the non-specialized hardware comparison.
The next step is to enter the total power consumed by your rigs in watts.
Then, enter the Price of your electricity in kw/hr. If you are not aware of the prices per kw, you can ask your electricity provider.
If you have joined the paid mining pool, enter its fee.
After deducting all these expenses, the mining calculator will calculate the net profit you would expect to make per day, month, or year. Easy, isn’t it?
What are the risks involved in cryptocurrency mining?
Many problems can affect the performance of your system and put your business / end users hijacking, information theft, etc. at risk. Therefore, it is a sensitive process that must be evaluated diligently. Listed below are some risks involved that should be considered before considering the best cryptocurrency to mine:
Electricity costs are exceptionally high
Losing your digital wallet
Deceptive mining pool organizers
Like gold and silver, the value of your currency is likely to fluctuate and change over time. If the value falls, you may start to think, “no news is good news.”
Electricity costs are exceptionally high
Once you start trading the major cryptocurrencies to mine, the electricity bill needs to be determined. As for most miners, the cost of 14 cents / kw hour is immensely high. You should consider the dollar exchange rate each day you pay for your hardware investment.
In the world of cryptocurrencies, you might come across a lot of professional hackers. Unfortunately, they can use their talents illegitimately, break into your mining pool, and empty the user’s wallets.
Losing your digital wallet
Forgetting your login ID or password may cause you to crash. This could cause you to lose your digital wallet. Also, the hard drive is a crucial device that must be taken care of. In case it gets damaged, you may end up losing your digital wallet.
Deceptive mining pool organizers
If you get caught in the wrong trap of fooling the administrators / organizers, you may have coins taken from your winnings without even warning you. They could even take out the whole batch of caul. So be careful and be careful!
Mining vs Staking?
You can choose between proof of work and proof of stake. Some people think that if they can make money validating transactions simply by betting coins, they will put their mining investments at risk.
You would have always heard “More risk, more benefit.” The same is true in the case of mining. Although mining is a complicated process compared to staking, mining is one thing that could yield great results and great rewards.
It depends solely on your resources and the currencies you want to invest in, and then consider whether you want to mine or gamble.
So even if you are not a tech savvy and extensive technical knowledge, you can still go through the process of the best cryptocurrency to mine. All you need is a lot of hashing power from the computer.
We recommend doing your homework to better understand the issues before you can start mining any cryptocurrency. Even if you know how to mine cryptocurrencies using GPU it does not necessarily mean that you will make a profit. You can also end up paying a massive loss.
Remember, the world of cryptocurrencies is not without risk, as the values of each currency are volatile and can fluctuate wildly at any point, under any circumstance.
We hope you have some ideas on which cryptocurrency to mining in 2022. There are various cryptocoins available on the cryptocurrency market. But we just mentioned the 10 best Popular cryptocurrencies to invest your valuable money in 2022. Before investing in any cryptocurrency, kindly check the volume, price and liquidity of the particular crypto in the market.