Cryptocurrency mining (fr. le minage de cryptomonnaie, ger. Kryptowährungs-Mining) has been making hot headlines over the past decade or so and proved to be a reasonable means of investments and earnings. Crypto miners mine popular and best performing cryptocurrencies (as is the case with Bitcoin, Litecoin, Ethereum, etc.) all over the world, and do it solo, via the cloud mining sites, or join crypto mining pools. For those crypto enthusiasts who choose to undertake the complex task of cryptomining with a fresh start (there are so many alternatives for high-tech mining cryptocurrency), the best cryptocurrency to mine may turn out the one (coin or token) with the lowest network difficulty and highest price. New opportunities are just around the corner, so pour a cup of tea or coffee and let us start the ball rolling.
Conventionally, let us begin with the terminology. By and large, crypto mining is the competitive process, which in its turn verifies and adds new transactions to the blockchain network for a particular cryptocurrency (coin or token). It is logical to point out that cryptocurrency mining prevents the double-spending of cryptos on a distributed network. In order to figure out whether crypto mining is worth or not, a cornucopia of various factors should be considered. Whether a crypto miner chooses a CPU, GPU, ASIC mining rig, or crypto cloud mining, the most salient factors to take into scrupulous consideration are the crypto mining rig’s hashrate capacities, premises, electricity expenditures and maintenance, among others.
It goes without saying that many cryptocurrency miners opt for Bitcoin mining because of its popularity, store of value and the overall hype surrounding the first cryptocurrency. Nonetheless, those cryptocurrency miners who choose to undertake the complex and cryptographic task of mining crypto, the best cryptocurrency to mine may turn out to be the one with the lowest network difficulty and highest price index. But this dynamics is in the persistent state of flux. Smaller alternative coins (those which are alternate to BTC as the forefather and pioneer) tend to have lower network difficulty, therefore making it accessible to mine more of them (get mined coins) in a short timeframe. Making huge investments in alternative coins mining is like buying a lottery ticket: the odds of success are slim, but the return on investments may be astonishing.
Ethereum (ETH)
Mining the Ethereum cryptocurrency has generated a significant volume of profits over the course of the last two years, with crypto mining earnings positively doubling in just one month. Ethereum, just like Bitcoin, uses a proof-of-work (PoW) consensus protocol. As of now, ETH runs on the PoW algorithm and miners can mine the cryptocurrency with no evident problems, but doing so will no longer be viable with the proof-of-stake (PoS) consensus. In fact, only those people who hold large volumes of the ETH cryptocurrency will be able to stake their crypto and become “validators” on the distributed ledger. The Ethereum crypto is undeniably one of the most profitable and salient cryptocurrency to mine in this turbulent 2022 year.
Litecoin (LTC)
The LTC crypto has a quicker block generation time by contrast with Bitcoin, and it can be mined (validated) with a PC instead of expensive crypto mining rigs. Crypto miners involved in LTC mining are entitled to receive more than 12 LTC per one validated block. However, in order to keep up with fierce competition in crypto mining and remain successful with LTC mining, it is necessary to pay close attention to up-to-date OS and other connected suites.
Ravencoin (RVN)
The Ravencoin crypto can be mined by means of a powerful desktop computer (or a laptop) owing to a specialized crypto mining algorithm. The consumption of energy power is less than the total ROI earned from mining the Ravencoin digital asset.
Available Alternatives to Solo Crypto Mining (Single-Handendly)
For those crypto addicts who are keen on ascending the chances of enjoying mining rewards, it is possible to join a crypto mining pool (a special service). This step presupposes joint forces with other cryptocurrency miners with an aim of boosting the chances of validating new blocks via the blockchain and making awesome revenues; however, this type of mining means sharing the returns equivocally. Alternatively, one of the best options to get into streamlined and speedy crypto mining is to use crypto cloud mining services offered by sites (companies that are authorized to lease the hashing power capacities). With cloud mining, the person does not need to worry about purchasing high-tech and costly ASICs, maintain and upgrade hardware and software, and pay sky-high electricity bills. The popular websites that provide crypto cloud mining services are Hashing24, NiceHash, Shamining, ECOS, BeMine, etc.
Let us concentrate on the Hashing24.com website. Unlike other sites (NiceHash, ChickenFast), the Hashing 24 site boasts of a prolonged company history. The company is focused on providing Bitcoin cloud mining services, that is the person can lease a certain hashrate volume and mine BTC via the cloud while staying at home. The biggest advantages of BTC cloud mining are non-stop functioning of the BTC mining contract throughout the chosen contract tariff plan, the all inclusive pricing algorithm, among others. Apart from conventional BTC cloud mining, platform users can buy and sell BTC cloud mining contracts as orders via the Trading Room. In fact, it is like a good old-fashioned crypto exchange where traders place orders for buying and selling cloud mining contracts.
Further, all Bitcoins that users get using the cloud mining services powered by Hashing24 are absolutely new. There are no empty blocks and there is zero chance of any fraudulent activities. Anyone can join the BTC cloud mining mainstream and make passive income online.
Summarily, do your own in-depth research before investing a lump sum of money in crypto mining. Digital assets are very volatile and you should not invest more than you can afford to lose.
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