We have taken a good look at some good Cryptos to mine in 2019 - 2020 and the criteria of profitability needed to evaluate them.
It needs to be said – Bitcoin (BTC) is not the most profitable coin for mining anymore. It became so difficult that there needs to be a lot of servers to get just one block. The good news is that there is an array of extremely profitable coins to choose from and get a solid passive income.
How to estimate profitability?
Crypto price
The more expensive one coin is, the better. Even if a coin isn’t the most expensive, but if you have patience, the price might grow and a non-profitable coin might turn out a gem.
Block reward & Halvings
Mining became less profitable in 2019 due to halving. Let’s take the BTC halving in 2020 or the recent LTC one as an example. Some calculations need to be made, if the investment in equipment will meet the amount of mined coins.
Time of block generation
More generated blocks equal a high chance of rewards for a found block.
Mining difficulty
Miners gather and become more and more enthusiastic. There are still niche coins that can make a good amount of profit with little competition. The best algorithms and coins for mining can be found on WhatToMine.com
Equipment efficiency
It’s expensive to invest in different GPUs for increased power. What must be taken into consideration is the difficulty of the coins and the budget, of course.
Electricity cost
This is important obviously. It needs calculation if it’s going to be manageable and profitable to mine.
Some good coins to mine in 2019 – 2020
Ravencoin
Ravencoin became so popular because of the X16R algorithm for proof-of-work mining.
It is said that Nvidia cards are better at mining with zealot/enemy-1.08. The downside is that there is a 1% fee for developers.
Grin
Grin is the latest Cryptocurrency that is focused on privacy and supported by massive Bitcoin supporters. It is said to be the best one for mining.
Needed hardware:
Nvidia Cards: 1070, 1070ti, 1080, 1080ti, 2070, 2080, 2080ti
AMD Cards: 570, 580, Vega56, Vega64
ZENCash
Another privacy coin is ZENCash and it is considered as one of the best ones. If you have coins then secure nodes are needed, generating around 25% ROI for a year. Locking tokens is not necessary, so selling can be quick and easy.
AEON
The most CPU adequate coin is Aeon, thanks to the Cryptonite-light PoW; with it a user is getting triple hash rate improvement more than other GPUs like Monero style.
Electroneum (ETN)
Electroneum lives on its own Blockchain. Its goal is the mobile and iGaming market with the easiness of making transactions on mobile. It’s so good that without mining, coins are airdropped for just keeping the app. The coin would not be a massive profit but there can be some cents earned with the risk of taking your mobile battery down.
Which is your favorite coin to mine? Comment down below. Follow CoinChoose.com on Twitter, LinkedIn, and Facebook and join the conversation.
