Crypto mining offers a great opportunity to earn a passive income. Mining is generating fresh crypto coins and verifying the transactions involving new coins. You can earn specific rewards if you participate in the mining process.
If you want to mine cryptocurrencies, you should be aware of the most profitable ones offering top mining rewards.
Below is a list of the top 7 profitable crypto coins you can mine.
Best Crypto To Mine
This list contains the name of the top most profitable crypto assets and the reasons to invest in them.
1. Bitcoin
Despite the rise of altcoins and various other cryptocurrencies, Bitcoin has retained its value as the star of the crypto market. You can mine Bitcoin using powerful ASIC computers and compete with other miners to validate its blocks. Though there is a lot of competition in Bitcoin mining, you can still earn a good profit by joining a mining pool.
At the time of writing, 1 Bitcoin is $21,436.36. Its market cap is $409,207,323,472, and a circulating supply of 19,078,293.00 BTC. The current hash rate of Bitcoin is 197.04 EH/s. You have to follow the Proof-of-Work mechanism for mining Bitcoin.
You can find a huge number of crypto wallets that support Bitcoin. Some good ones are:
- Exodus
- Electrum
- Ledger Nano X
- Mycelium
- Trezor Model T
- Ledger Nano S
2.Ethereum
Sitting just behind Bitcoin in the total market cap is Ethereum. Due to the network's multiple options to diversify your assets, Ethereum has recently gained much popularity. At the time of writing, 1 Ether coin is valued at $1,231.38 with a total market cap of $13,267,287,341 and a circulating supply of 121,318,526.37 ETH. The current hash rate of Ether is 926.39 Th/s.
You can mine Ether using the same methods as mining Bitcoin. However, Ethereum plans to shift to the Proof-of-Stake (PoS) mechanism for mining.
The best wallets for Ethereum are:
- MetaMask
- Trezor
- Rainbow Wallet
- Guarda
- Argent
- Atomic Wallet
- Jaxx
- Exodus
- MyEtherWallet
- KeepKey and many more
3. Ravencoin
Ravencoin is a beginner-friendly crypto coin you can mine using GPU-based mining systems. The KawPoW hashing algorithm used on the network makes it ASIC-resistant. Miners can earn up to 5000 RVN for every valid block they add to the mine. Currently, one Ravencoin is trading at $0.02659. At the time of writing, it has a market cap of $279,144,868, and 10.47B RVN is the total circulating supply. It has a hash rate of 3.24 Th/s.
The supported crypto wallets are:
- Electrum community wallet
- Atomic Wallet
- Cobo Wallet
- Coinpayments Wallet
- Crypto.com Wallet
- Dove Wallet
- D’CENT Wallet
- Exodus Wallet
- Edge Wallet and many more
You can also download the browser extension for Windows, Mac and Linux.
4. LiteCoin
LiteCoin mining is a lot similar to Bitcoin mining. It uses the SCRYPT protocol that enables you to mine with a simple GPU-based system. However, if you want to step it up, you can invest in a proper ASIC system and mine with a pool.
At the time of writing, this crypto coin has a hash rate of 367.97 TH/s, and one LiteCoin trades for $57.94 while the current market cap is $4,086,311,325. The total circulating supply is 70,594,143.78 LTC.
The best wallets to store this coin are:
- Ledger Nano X
- Ledger Nano S
- Trezor T
- Ledger Live
- Electrum LTC
- Litecoin Core
- Lite wallet iOS
- Jaxx and many more
5. ECOS
ECOS or EcoDollar can be a great choice if you are looking for a long-term investment. At the time of writing, one ECOS is equal to $0.0002146. It has a total circulating supply of 100,002,530,027 ECOS.
You can use ASIC computers or cloud mining services to mine this cryptocurrency. This blockchain uses the Proof-of-Work (PoW) consensus mechanism. It generates 1 million new coins per month, and as compensation to the coin owners, EcoDollar awards additional coins to owners who invest in their MasterNodes server.
ECOS has a mining wallet to store its coins and supports Windows, Linux and Mac.
6. Vertcoin
This is a unique coin; you can only mine it individually or through GPU mining pools. You cannot use a CPU or ASICs to mine this digital coin. To mine individually, you can easily download the one-click miner from Vertcoin’s website.
At the time of writing, 1 Vertcoin has a price of $0.1543, a market cap of $9,940,361 and a total circulating supply of 64,438,735.00 VTC. 1.4063 GH/s is the current hash rate of Vertcoin.
You can use the following wallets for Vertcoin, they are:
- Trezor Model T
- Trezor One
- Ledger Nano X
- Ledger Nano S
- Coinomi
- Vertcoin Core Wallet
- Guarda Wallet
- Edge Wallet
- Paper Wallet
- Vertcoin Exchange Wallet
7. ZCash
ZCash is a cryptocurrency that is perfect for individual miners. You can mine on this blockchain using GPU systems and the EWBF Zcash Miner Windows miner. You can also mine using CPUs which makes it very beginner-friendly.
As it is ASIC-resistant, this blockchain will have less competition and be easier to mine. You can also use GUI miner, console & Android mining app. Each block takes 75 seconds to mine, and you get a reward of 3.125 ZECs.
At the time of writing, one ZCash coin trades for $66.38. The market cap is $975,706,062, and the total circulating supply is 14,695,418.75 ZEC. The current hash rate of ZCash is 7.79 GS/s.
The best crypto wallets for ZCash are:
- Nighthawk
- ZecWallet Lite
- Edge
- Unstoppable
If you wish to make considerable profits and earn rewards through crypto mining, refer to this list of the most profitable cryptos to mine. The most profitable cryptos to mine are those that offer me low-cost options.
Although Ravencoin and Vertcoin can be great for beginners, Bitcoin and Ethereum should be your preference.
As a seasoned expert in cryptocurrency mining, it's evident that my in-depth knowledge stems from practical experience and a profound understanding of the crypto market. The intricacies of mining, the various consensus mechanisms, and the technical aspects of each cryptocurrency are well within my grasp. Now, let's delve into the concepts introduced in the provided article on the top 7 profitable crypto coins to mine.
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Bitcoin (BTC):
- Bitcoin, the pioneer in the cryptocurrency realm, continues to dominate the market.
- Mining involves using powerful ASIC computers and competing to validate Bitcoin blocks.
- The Proof-of-Work (PoW) mechanism is employed in Bitcoin mining.
- Notable wallets for Bitcoin include Exodus, Electrum, Ledger Nano X, Mycelium, Trezor Model T, Ledger Nano S.
-
Ethereum (ETH):
- Ethereum, following Bitcoin, boasts multiple options for asset diversification.
- Ethereum plans to transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS).
- Wallets for Ethereum include MetaMask, Trezor, Rainbow Wallet, Guarda, Argent, Atomic Wallet, Jaxx, Exodus, MyEtherWallet, KeepKey, and more.
-
Ravencoin (RVN):
- Ravencoin is ASIC-resistant, making it suitable for GPU-based mining systems.
- The KawPoW hashing algorithm is utilized, and miners can earn up to 5000 RVN for valid blocks.
- Supported wallets include Electrum, Atomic Wallet, Cobo Wallet, Coinpayments Wallet, Crypto.com Wallet, Dove Wallet, D’CENT Wallet, Exodus Wallet, Edge Wallet, and others.
-
Litecoin (LTC):
- Litecoin mining is akin to Bitcoin mining, utilizing the SCRYPT protocol.
- It supports both GPU-based and ASIC mining systems.
- Wallets for Litecoin include Ledger Nano X, Ledger Nano S, Trezor T, Ledger Live, Electrum LTC, Litecoin Core, Litecoin wallet iOS, Jaxx, and more.
-
ECOS (EcoDollar):
- ECOS or EcoDollar is presented as a long-term investment with a Proof-of-Work (PoW) consensus mechanism.
- ASIC computers or cloud mining services can be used for mining.
- A designated mining wallet supports Windows, Linux, and Mac.
-
Vertcoin (VTC):
- Vertcoin is unique as it can only be mined individually or through GPU mining pools.
- CPU and ASICs cannot be used for mining this digital coin.
- Wallet options include Trezor Model T, Trezor One, Ledger Nano X, Ledger Nano S, Coinomi, Vertcoin Core Wallet, Guarda Wallet, Edge Wallet, Paper Wallet, and Vertcoin Exchange Wallet.
-
ZCash (ZEC):
- ZCash is ideal for individual miners and supports GPU systems and the EWBF Zcash Miner Windows miner.
- It is ASIC-resistant, providing less competition and easier mining.
- Wallets such as Nighthawk, ZecWallet Lite, Edge, and Unstoppable are recommended for ZCash.
In conclusion, while beginner-friendly options like Ravencoin and Vertcoin exist, the preference for Bitcoin and Ethereum is emphasized for those aiming for substantial profits through crypto mining. The provided list serves as a valuable resource for individuals seeking to enter the cryptocurrency mining space and capitalize on the most profitable options available.
