So, you have decided to start mining this year? This is an excellent way to earn some additional money, but with so many cryptocurrencies on the market, it can be hard to choose the one to mine.
Mining can be tempting, but it involves investment in the hardware and software that will support it, hence, it is important to choose the currency that will be able to get you the profit needed and make the investment pay off.
Since the market is constantly changing, we have done some research and found which cryptocurrencies are most profitable to be mined.
Grin
This cryptocurrency is, in essence, young on the market, and it has proven to have excellent protocols when it comes to privacy and safety online. The safety is number one priority, and it is essential to get into mining with the currency that will have your data protected. One of the things that are very important for the ones that are starting the mining process is the available amount of coins that can be dug up.
For grin, at the moment there is no limit in the amounts, but this can change in the future. In addition to this, there is a possibility of trading these for on the coins, and this is important if you wish to get other coins, but It is hard to mine them.
When mining coins it is essential to choose the ones that can be traded and used. This is essential if you want to maintain profitability as well as keep the funds in one currency without losing amounts of money on fees and transfers. By using a trusted trader you are increasing the chances of profit and decreasing the chance of paying enormous fees. If you are in search of a good trader, check out cfdstrader and start trading and earning more, today.
ZEC
Z cash can be called a young currency since it exists for around four years. In order to mine it, you will need to have a good graphic card and this is important, especially if you need to invest in the equipment, so this can be a good option, to invest in graphical parts and do some mining; later on, you may add GPU if needed.
One of the things users have labeled as a favorite is that they are untraceable. As mentioned before, it is important for the cryptocurrency to be easy to be translated into other currencies, and this is possible with this one since many transactions will pass without fees charged.
Raven Coin
In the cryptocurrency world, this one is essentially a toddler, since it exists on the market for around two years. No matter its age, it has established great popularity and values. Since it has had a very big success for the first year of existence, the creators have added some additional traits to it and made it even more attractive to the miners.
When it comes to the usability of the RVN, we can say that there will be no problems in transactions and that it can be traded very easily, even for the coins that are very popular, such as bitcoin and ethereum which are the giants in the world of cryptocurrencies.
Monero
This one is on the market for a few years now, and it did have some ups and downs in breaching the market. Last year, the creators have switched from one to the other, mining algorithms, by making a change, they have contributed to the enormous growth in the mining and number of people that wanted to get this coin. It has led to an increase in the popularity and the value of the coin; now it is labeled to be one of the most profitable on the market.
Ethereum
This list would be incomplete without mentioning one of the three giants that are holding the cryptocurrency market. Even though there is a limited number or amount of the coins available to be dug up, there is still more than plenty for it to go around.
When choosing, you can choose one of two available versions, one is a classical one that has kept all the original machinery and the new one, which is based on the new technology. No matter which you choose, this coin is very profitable and usable, making it popular amongst the users.
It can be used in all sorts of transactions, as well as in buying and selling. This one is not fluctuating on the market, and this stability is another reason to obtain this one as a coin of choice. Be aware that in order to mine this one, you will need to get the machine with a good GPU.
Bitcoin
Bitcoin is, we can say, the most famous cryptocurrency there is. But, what many people do not know is that the bitcoin as such has many handles and that you can choose between these. One of them is Bitcoin Gold, that has proven its value and is ranked very high in the market itself. When we look into the values graphs we can see that there are some ups and downs, but the predictions for it are excellent and promising.
One other thing that is good about it is that it has proven to be very stable, even though the values are steady for now, we do not see the drop, and it is expected to be increased in values as the years pass by. Not to mention that bitcoin is very careful of the data protection of the miners. In order to mine them, some heavy machinery is needed, so investing in GPU and CPU may be smart before diving into it.
Conclusions
There are so many options on the market to be chosen from. Some will need you to update that graphic card of yours in order to do the mining, while others will require very high standards in terms of GPU and CPU. If you pick the right coin, the investment will be worth all the money.
