Best Cryptocurrency to Mine in 2021 Your Guide to Most Profitable Coins to Mine
Unless you have a substantial amount (read hundreds of thousands of dollars) ready to spend, you will not be able to mine popular cryptocurrencies like Bitcoin, Ethereum, etc., successfully. Here we bring you best cryptocurrency to mine now in 2021.
Discover alternatives to popular crypto that you can mine and start making a profit.
Here are the best cryptocurrencies to mine in 2021:
Vertcoin is an altcoin that was developed to prevent ASIC miners and promote decentralization.
Using Bitcoin as a base, Vertcoin has a block time of two and a half minutes and a total supply of 84 million coins, four times more than Bitcoin.
In contrast to Bitcoin, Vertcoin uses the Kimoto Gravity Well algorithm, which is necessary for coins with a lower hash rate.
Another thing to note with Vertcoin is that you can go to their website and download their one-click miner along with their wallet. It’s simple and easy to get started with if you’re a beginner in the space.
Over the past year, Vertcoin has shown some signs of improvement and growth, but this can be attributed to the overwhelming support that Bitcoin and other cryptocurrencies have received.
You can check out Vertcoin here: https://vertcoin.org/
GRIN is a cryptocurrency that focuses on providing a more private, censorship-resistant alternative to crypto enthusiasts.
One unique thing about GRIN is that all miners will receive the same rewards regardless of when they mine.
This means that someone who’s a miner now will get the same GRIN as someone who’s mining thirty years down the road; 60 GRIN per block. And since GRIN block time is one minute, miners will be effectively getting one GRIN per second.
GRIN has seen a slight rise and fall in recent times. Mining would be best if you are fairly experienced and know what you’re doing. Another option to make money from GRIN would be to take a short position and hope it continues to fall.
Find GRIN here: https://grin.mw/
Dogecoin is arguably the best cryptocurrency to mine, according to a lot of people online. The recent interest in the currency makes it valuable, shown by how much it’s worth right now compared to a year ago.
With words of affirmation from Elon Musk and other notables, Dogecoin benefits from the hype and keeps growing.
Although Dogecoin started as a joke and a parody, it has become a serious competitor getting a lot of attention.
Dogecoin uses the Scrypt algorithm and has a block time of one minute. The reward for mining is 10,000 Dogecoins. That being said, mining Dogecoin is not as difficult as Bitcoin, but it is still more competitive than other altcoins.
You can learn more about Dogecoin here: https://dogecoin.com/
Monero (XMR) is a leading privacy coin and is a relatively popular cryptocurrency.
Things that make it appealing to its users include it being untraceable, secure, and private. Monero also gives its users complete control of their privacy and funds, meaning no one can see a Moner user’s balance or transactions.
The current mining reward for Monero is a little bit over two XMR per block. The block time is two minutes, and you can use a CPU or a GPU to mine it. Given that it’s an anti-ASIC cryptocurrency, these are your only options to mine it with.
Visit Monero for more info here: https://www.getmonero.org/
Developed by the anonymous “Mr. Watanabe,” Monacoin was developed after the Mona Lisa meme in Japan. Monacoin was launched in 2013, is predominately used in Japan, where many merchants accept it as a payment method.
Currently, the reward for mining Monacoin is 25 MONA per block. The maximum number of Monacoin that can be supplied is over 105 million.
Monacoin has a block time of 15 minutes and uses the Lyra2v2 algorithm. Another thing to note about Monacoin is that it is a fork of Litecoin.
What is the best cryptocurrency to mine in 2021?
After learning about all of these different altcoins and cryptocurrencies, you must be wondering about the most profitable coin to mine.
The short and honest answer is that it’s complicated.
Mining is not a straightforward process. There are several things that you need to take into consideration before taking a start.
Hardware and electricity costs are the first things that should come to your mind when thinking of initiating a mining setup. Afterward, you need to assess the competition you will face when mining for a particular crypto coin.
Another consideration you will need to make is whether mining on your own would suit you or would mining within a pool. Cloud mining can also be an option if you want to avoid dealing with hardware, etc.
Every crypto aficionado would like to find the best cryptocurrency to mine, but there are thousands of options to choose from.
Hopefully, this article has given you some insights into which coin you should mine and some considerations on mining.
Note: The information present in this article should be taken as is. While we’ve taken precautions and safeguards to ensure accuracy, readers should practice due diligence before making any financial commitment or transaction.