At The Altcoin Oracle, we always try to provide readers with the best content regarding cryptocurrencies. However, so far, we didn’t really talk about mining. The recent hard fork of Ethereum turned the tables and miners are looking for alternatives for mining. One can mine cryptocurrencies using a specialized mining algorithm. These algorithms are necessary for cryptocurrency projects to run when they’re based on proof-of-work paradigms. In fact, mining involves running hashing algorithms on a computer to identify and verify blocks of transactions, which are added to the blockchain. The process of mining adds these blocks to the end of each ledger which forms an ever-growing log of activity in the cryptocurrency ecosystem. Because it can be lucrative, a lot of people are now looking for the “best coins to mine”. In this article, I have tried to mention some of the top 6 cryptocurrencies to mine.
1. Ergo
The Ergo blockchain is one of the most secure blockchains in the world, with unique encryption technology. $ERG is my favourite coin to mine with a robust infrastructure and advanced security system. Ergo uses an ASIC-resistant memory-hard algorithm, Autolykos v2. The GPU-friendly algorithm allows you to mine Ergocoin with your existing GPU rigs. In fact, the main focus of Ergo is to help low-income countries. Ergo mining software supports NVIDIA and AMD GPUs, GPUs and you will need a memory of more than 3 GB.
Profitability:
According to the “What to mine”, an Ergo mining calculator, the mining rewards depend on the type of hardware used to mine ERG. For example, around 1 $ERG can be mined per day with a mining hash rate of 47.02 MH/s, with a block reward of 45.03 ERG, and a difficulty of 5,614.989. This means that your expected return per day would be ROI for investment would be $1.86 USD. And with the same minimal rig, it can take 10,452 Days to generate one Bitcoin.
2. Ravencoin
The Ravencoin project is an open-source cryptocurrency built with the aim to bring privacy and security to all transactions. Indeed, getting these features together requires fast, reliable, and decentralized ASIC-resistant mining hardware with negligible use of electricity on the client side. This is the reason for the focus on bringing crypto-mining technology to the masses by reducing mining energy requirements. You will need a valid Ravencoin wallet to receive the rewards from Ravencoin mining. In fact, the wallet Raven Core is highly recommended by professional miners and it is supported by both Windows and Mac operating systems. In fact, mining Ravencoin is a profitable process available to anyone who owns a GPU card and doesn’t require high electricity costs. However, some graphics cards have a higher hashing power and thus can make them more profitable than others.
Profitability:
According to Coinwarz’s Ravencoin mining calculator, the mining rewards depend on the type of hardware used to mine RVN. For example, around 49 $RVN can be mined per day with a mining hash rate of 70.00 MH/s, a block reward of 5000 RVN and a difficulty of 142,394.46. In fact, this means that your expected return per day would be worth $6.06 USD. At a going rate, and your overall ROI for investment would be $1.25 USD. And with the same minimal rig, it can take 16,320 Days to generate one Bitcoin.
3. Ethereum Classic
The Ethereum Classic (ETC) project is actually the true original Ethereum chain. Indeed, It holds the original logs of the Ethereum ledger before a famous hardfork that happened in 2016 splitting Ethereum in two: ETC and ETH. That being said, the mining on the Ethereum Classic blockchain is just like mining on other blockchains. Of course, you can use your standard mining software set up on any machine with a CPU, GPU, or FPGA. In fact, the Mining of Ethereum Classic isn’t so different from any other coin. ETC might be dead as a protocol, however it’s one of the best coins to mine.
Profitability:
According to the What to mine ETC mining calculator, the mining rewards depend on the type of hardware used to mine ETC. For example, around 0.000012 $BTC can be mined per day with a mining hash rate of 88.5 MH/s, with a block reward of 2.48 ETC, and a difficulty of 1,871,344,162. This means that your expected return per day would be ROI for investment would be $0.77USD. Alternatively, with the same minimal rig, it can take 26,974 Days to generate one Bitcoin.
4. Monero
The Monero (XMR) project is a cryptocurrency that anonymously and seamlessly processes transactions. Unlike others, it has a transparent and incorruptible transaction ledger where third parties can access data on your account. Monero uses ring signatures and stealth addresses to obscure the amounts, destinations, and identities of each transaction in the chain. However, miners do not require ASICs to mine Monero. To mine it, I recommend following one of the numerous tutorials online like this one detailing all the steps.
Profitability:
According to the What to mine $XMR mining calculator, the mining rewards depend on the type of hardware used to mine $XMR. For example, around 0.000002 $BTC can be mined daily with a mining hash rate of 1410.0 MH/s, a block reward of 0.61 $XMR, and a difficulty of 344,882,374,982. This means that your expected return per day would be ROI for investment would be $0.62USD. Alternatively, with the same minimal rig, it can take 32,980 Days to generate one Bitcoin.
5. Firo
The Firo project aims to be a faster, safer, and more private alternative to Bitcoin with near zero transaction fees. Firo is an easy cryptocurrency to transact with that offers privacy and anonymity through zk-SNARKs technology. Firo mining is a technology that enables secure, private and instant transactions by encrypting cryptocurrency transactions. In fact, these transactions are then decrypted by miners, who turn these computations into “hash” according to their mining hardware. It has been designed to maximize security and privacy. Indeed, this makes sure to complete transactions efficiently due to its advanced computational power. Firo mining’s main goal is to protect the customer’s privacy by keeping their funds safe in the blockchain. Indeed, Firo is one of the best coins to mine.
Profitability:
According to the What to mine FIRO mining calculator, the mining rewards depend on the type of hardware used to mine FIRO. For example, around 0.000016 $BTC can be mined per day with a mining hash rate of 43.5 MH/s, a block reward of 1.56 FIRO, and a difficulty of 9,030,852. This means that your expected return per day would be ROI for investment would be $1.22USD. Alternatively, with the same minimal rig, it can take 16,783 Days to generate one Bitcoin.
6. Flux
The Flux project is a digital currency that enables instant transactions and low fees. Flux is the new generation of scalable, decentralized cloud infrastructure. In fact, It simply develops, manages, and spawns your applications on multiple servers at once. With Flux, your applications will have ready access to thousands of servers and storage across the world. Host all of your apps, websites, and services with a single domain name. By enjoying true compute density across multiple data centers. Flux is using the ZelHash algorithm, an ASIC/FPGA resistant implementation of Equihash 125,4. It was developed by Wilke Trei of lolMiner. Flux is distributed on mainnet using ZelHash algorithm also adopted by FIRO which tends to avoid centralization and make it harder for miners to control the minting process, as they cannot monopolise the market with their funds. Flux is one of the best coins to mine.
Profitability:
According to the What to mine FLUX mining calculator, the mining rewards depend on the type of hardware used to mine FLUX. For example, around 0.000016 $BTC can be mined per day with a mining hash rate of 42.0 MH/s, a block reward of 37.5 FLUX, and a difficulty of 129,775.247. This means that your expected return per day would be ROI for investment would be $0.71USD. Alternatively, with the same minimal rig, it can take 28,732 Days to generate one Bitcoin.
Thanks for reading my selection of the best coins to mine.
n.b: this is not financial advice
