The race for cryptocurrency continues as its rates increase. Beginners and professionals use different methods to collect as many coins as possible. The most common method is mining.
And most of them only pay attention to Bitcoin, although other cryptocurrencies show no less rapid growth.
Which cryptocurrency is better to mine? Most users will no doubt answer - Bitcoin.
In fact, the rate of these coins is not the most profitable. Yes, for 1 BTC you can get the largest amount, but if you look at the percentage rate increase, then there are other, more interesting options.
Before you share thoughts and useful information about the choice of cryptocurrency for mining, you should tell a little about mining .
It is possible through different services and pools; all possible tools are used for this. The choice is difficult, and if you rely on reviews, then the ideal option is this.
This company has been working for a long time, it has the most convenient software, any newbie will be able to use it. In addition, it is possible to use the video card and processor. You can even install a mobile app.
Plus the site offers a choice of several types of coins for mining:
Of the mining that I used, I can still advise But the yield is not high there and the setting is complicated. Now cloud mining is actively gaining popularity.
How does it work? Large companies buy equipment and create mining farms. Such a business requires huge expenses, so they lease the capacity:
The most advantageous offers you will find on and. Both companies operate stably, but their profitability is unlikely to exceed 200% per annum.
On the other hand, there is no need to buy and maintain equipment, pay for electricity, constantly work on improving software, and so on.
A home stationary computer is capable of conducting continuous mining, and the yield will depend on its capacity. Programs use processors and video cards to collect coins.
In addition, special devices (ASIC) designed specifically for mining were invented.
Of the most popular algorithms, Scrypt, SHA-256 and x11 stand out. You can use any of them, but it must be borne in mind that Scrypt is more suitable for conventional PCs, SHA-256 for high-power systems (ASIC), and x11 is just for mining on the processor.
Now let's consider each of the options in a little more detail:
It will definitely be difficult for a beginner to make the right choice. Alternatively, start using different programs, get different cryptocurrencies, and just watch how profitable the mining of a particular coin is.
Every week, change something new and, at the end of this term, convert the crypt into dollars in order to compare them more conveniently.
A huge number of services are created for mining and they all offer to make different crypto money. Unfortunately, not all types of coins are available for this way of earning.
However, their most popular representatives are on every major project. We are talking about such giants as:
The complexity of the extraction of any cryptocurrency increases with the growth of its popularity. Some services offer to collect only the main coins, it is not so interesting.
On the site, you can receive daily bonuses and mine in the cloud any available currency from the list below:
Moreover, the system offers to immediately transfer the mined crypt to dollars or additional power. You will not earn much here without investments, therefore it is better to immediately find a deposit. If there is nothing to invest, attract referrals.
To determine the profitability of mining, you need to take into account a bunch of different factors.The cost of electricity, equipment, mining complexity, the rate of cryptocurrency and much more. Manually doing such calculations is too hard, all the more you need to count on different cryptocurrencies.
Professionals use service for this. In it you need to fill out a large form, specifying your price for electricity, choosing equipment and so on:
The project is foreign, it takes into account current trends, checks rates on the most popular exchanges. It is possible to carry out calculations with it as quickly as possible and obtain data at once for all cryptocurrencies.
Data is given in table format, where the last column shows the percentage of mining profitability:
As you can see, at the moment the best option is Ethereum (but only on the selected equipment). After filling out the form, you may have a completely different table, the more we do not know how much time will pass from the date of publication of this article, when you decide to use the system.
To get a correct answer to this question, we contacted one experienced professional who is gradually developing his own farm. He plans to open his own cloud mining service, but so far he is mining with his own equipment.
Here's what he told about his activity:
He thought for a long time, read and thought about what equipment to buy for start-up capital. I opted for the Antminer L3 + and Antminer S9 devices. All about everything took more than 250,000 rubles.
Purchased an ASIC device in the summer of 2017, then, according to rough estimates, good profitability should have come out. The focus was on Ethereum, Bitcoin, Litecoin and Ethereum Classic.
The best indicators were on Ether, but other cryptocurrencies were also mined for security purposes. In September, when Bitcoin approached $ 5,000 per 1 token, he sold the entire crypt and got a good profit.
I managed to do it before the fall, but despite this, I am still satisfied with the profitability. It is necessary to constantly change pools, the payment for the electric power has seriously grown, however all expenses pay off.
The main thing is not to dwell on one thing, now I am testing the extraction of alternative crypto money, I want to find a gold mine.
This same professional explained to us that for 150-200 thousand rubles, it is too difficult to buy some decent mining equipment. Devices are expensive, so the case should be treated as a full-fledged business.
There are other areas of earnings for cryptocurrency. For example, through the exchange
you can engage in trading or make a profit from the issuance of loans.
The best way to determine which cryptocurrency is worth mining with your equipment is to conduct a test.
Unfortunately, now the complexity has grown so much that using home PCs is not profitable. Therefore, it is better to think about buying ASIC devices or use cloud mining.
You will also be interested in:
- Cloud mining of different cryptocurrencies at Eobot
- Earnings on a machine with Hashflare - cloud mining
- Investment in mining, deposits and trading with Cryptotek