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Top 15 Coins for mining according to their profitability

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Bitcoin mining has become obsolete for Solo miners. Let's gain some insights about the other cryptocurrencies which are profitable for mining.

Cryptocurrencies which are most reliable for the mining operations.

 

Mining profitability has decreased on a general basis

Bitcoin, when initiated in 2009, gave rise to many other cryptocurrencies and the process didn’t seem to be ending there. As time progressed, constant development was observed concerning the crypto domain and not only in respect to Bitcoin. Newer, cryptocurrencies were developed with more efficient protocols, incorporated than Bitcoin and involving different mining techniques. Bitcoin mining, 5 to 6 years back was affordable for a small scale business, as the mining equipment were not as expensive as they are today. As the hash rate has quadrupled, Bitcoin mining has become obsolete for Solo miners.

 

What’s gone is gone! But the future is ahead. Therefore, let’s gain some insights about the cryptocurrencies which are profitable for the current generation.

 

Bytecoin (BCN)

Bytecoin experienced a price surge of almost 5600% in the year 2017 itself. One of the most interesting points is that the cryptocurrency can be mined through any normal CPU or GPU and doesn’t imply the use of ASIC miners.

 

Monero (XMR)

The privacy-focused cryptocurrency coin is based on the cryptonote algorithm and is ASIC resistant, therefore, sufficient returns can be expected if one initiates to mine Monero.

 

Ethereum (ETH)

The second largest cryptocurrency is still viable to be mined through the CPU and GPU mining equipment. Ethereum value has increased by 200 times since the past 2 years.

 

Electroneum (ETN)

The Electroneum Cryptonote based cryptocurrency is a pioneer in bringing the Mining industry in the hands of people and making the mining process possible through the usage of Smartphones.

 

Zencash (ZEN)

The official Zcash hard fork experienced an 800% increase in the value in the last quarter of 2017. The Crypto coin supports the mining process through desktops too.

 

Webchain (WEB)

Based on CryptoNight V7 algorithm, the cryptocurrency coin has been very famous in the internet industry. The cryptocurrency acquires the processing power from its website users.

 

Vertcoin (VTC)

The cryptocurrency coin utilizes the modified version of Bitcoins Proof of Work protocol and enables various kinds of mining initiatives.

 

Dogecoin (DOGE)

Although developed for fun, Dogecoin gained popularity and has been the most profitable regarding mining operations. However, the users can boost the process by utilizing GPU instead of CPU.  

 

Dashcoin (DASH)

The privacy-focused next-generation crypto coin must not be confused with Dash. The mining process is made possible through the usage of CPU or GPU.

 

Fantomcoin (FCN)

The cryptonote algorithm based cryptocurrency is the only one which is specially developed to be mined only through a 64 bit CPU.

 

Ethereum Classic (ETC)

Although quite unpopular in the cryptocurrency domain, the original Ethereum blockchain is still profitable to an extent, concerning the mining process.

 

Monetaverde (MCN)

The cryptocurrency coin utilizes merged mining where existing mining equipment is sufficient for the process.

 

infinium-8 (INF8)

Another privacy-focused cryptocurrency coin based on the cryptonote algorithm turns out to become quite profitable concerning its mining operations.

 

Gridcoin (GRC)

The Proof of Research-based crypto coin rewards the users based on the computational power they spend for various Scientific computations.

 

Curecoin (CURE)

The cryptocurrency coin utilizes both CPU as well as GPU for its mining operations. It is originally, a fork of Litecoin.

 

The Mining industry concerning various coins has been flourishing within a past few years at a very rapid scale. The concept of merged mining is nothing but, where the cryptocurrencies utilize the existing the mining equipment in the market, to avoid wastage of mining rigs. The ASIC miners are dominating the Mining industry and are highly reliable and efficient when it comes to the return on investments.

 

Points to ponder before initiating the mining process

Various practical implications have not been covered in the article. Therefore, the users are advised to make an extensive research and only then initiate the mining process. Also make sure to confirm the legal implications of mining operations in your locality, as various countries have restrictions on it. Long story short, collaborating with mining pools is far more efficient than solo mining.

Altcoins

Best Tools to track Cryptocurrency Markets: CryptoCompare, CoinMarketApp, CoinGecko

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There are different websites and mobile applications designed to keep the track of cryptocurrency market, we cover the Top 3 of these.

The cryptocurrency market includes the prices and market capitalizations of different Cryptocurrencies like Bitcoin, Ethereum, Stellar and many others. Currently, there are thousands of cryptocurrencies, markets are 16084 and market capitalization is about $124,123,711,224.

 

There are different websites and mobile applications designed to keep the track of cryptocurrency market, we cover the Top 3 of these:

 

CryptoCompare.com

Known for its high-end API and real-time tick data, CryptoCompare has been serving the cryptocurrency space from 2014.

Founders: Charles Hayter & Vlad Cealicu

CryptoCompare shows real-time data for more than 5300 Coins and 240k trading pairs, enough for an entire overview of the market. Users can see live Order books, historical data, reports, social data and reviews on all cryptocurrencies. The website is very easy to use and is free for everyone.

 

CoinGecko.com

We love CoinGecko because it focuses on tracking community growth, events hosted by teams and open-source code development apart from the usual price tracking, market capitalization and volume traded. It was also founded in 2014.

Founders: TM Lee, Bobby Ong & others

CoinGecko’s team is very dynamic and is very active on social media like Twitter, Telegram & Facebook. They cover more than 260 exchanges with live data and have more than 3300 cryptocurrencies. They are free for everyone to use.

 

CoinMarketApp (Mobile Application)

When it comes to easily track the live prices and your portfolio on your mobile, CoinMarketApp is the preferred choice for most. With live alerts on more than 1400 Cryptocurrencies, the app saves your time and alerts you on every move.

Download on Android

Download on iOS

Apart from cryptocurrency prices, the app lets you manage your portfolio, mining pools, new contracts and the latest news from the crypto industry.

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Altcoins

Cryptocurrency Market Updates: Bitcoin May fall further

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The cryptocurrency market is still facing the same bullish trend today, yet again. Bitcoin price recovered a little with trading around $4300 to $4400.

The cryptocurrency market is still facing the same bullish trend today, yet again. Bitcoin price recovered a little with trading around $4300 to $4400. Yesterday the price of bitcoin fell up to $4190. Ethereum is still trading at a year and a half low of $125. Apart from ethereum, most altcoins are showing small corrections. Bitcoin Cash moved 3% upwards while Monero has moved 4% upwards in the last 24 hours. Bitcoin Gold and Bitcoin Diamond have had good gains for the day with 8% and 16% rise. IOTA is trading at around $0.32 which shows a 6% improvement from yesterday’s price. NEO is up by 5%. However, the small gains are nothing in front of the massive downtrend these altcoins went through in the past couple of days.

 

Cryptocurrency Market Capitalization Improved

The total cryptocurrency market cap yesterday came down up to $136 billion which was the lowest of 2018. In the last 24 hours, cryptocurrency market has managed to add $4 billion in the market capitalization adding to $140 billion. Over the last week, the cryptocurrency market had lost over $40 billion and over the last month, around $70 billion have been erased from the cryptocurrency market capitalization which is yet to be recovered.

 

Bearish predictions for bitcoin

While the market cap is trying to recover the price predictions for bitcoin still remain bearish as many cryptocurrency analysts have predicted that the only support after the current significant support of $4000 is at $3000. So if the price drops below $4000, it will definitely reach down to $3000 after which the price is expected to recover.

 

The overall situation of the market is still harsh as there is no major recovery from the massive losses that occurred in the past few days. What do you think about the bitcoin predictions being made by crypto analysts? Tell us in the comments section below.

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Bitcoin Cash Hard fork screwed the whole cryptocurrency market

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Whole cryptocurrency market is suffering because of the continues wars going on between ABC and SV which has created a bad reputation of the crypto space.

The original Bitcoin Cash split into Bitcoin ABC and Bitcoin SV during the hard fork but no one is sure to weather BCHSV or BCHABC will survive in the market as the hash wars still continue. The hard fork has lead to an uncertain future of Bitcoin Cash and also screwed the whole cryptocurrency market. The Price of both the new coins is on a continues decrease where Bitcoin Cash ABC values at around $226 and Bitcoin Cash SV values at around $76.

 

Cryptocurrency Market Crash

The whole cryptocurrency market is suffering because of the continues wars going on between the two teams which have created a bad reputation of the crypto space to the newbies. At this time when more and more institutional investors were entering into the cryptocurrency space, the hard fork has created a feeling of Fear, Uncertainty and Doubt amongst them.

 

BTCUSD yearly chart

BTCUSD yearly chart

 

As the hard fork started, the entire cryptocurrency market faced a downfall where all major cryptos are on a 6 month low with bitcoin trading around $5200 that is a yearly low for the most dominant cryptocurrency. The decline is the price has created fear in the minds of investors who are now talking about capitulation.

 

Should Craig Wright be blamed?

Craig Wright who claims to be the real Satoshi Nakamoto and the founder of the original bitcoin has been funding his side of the war using BTC. Cryptocurrency enthusiasts around the world are criticizing Craig Wright and also calling him a lier.

 

 

The local media’s role

The real reason behind the rise of cryptocurrency and blockchain was the mass adoption by people who heard about it through local media. At that time, the local media described bitcoin and other cryptocurrencies as the future of money explaining the decentralized nature of such currencies, but now due to the wars within the cryptocurrency ecosystem, the local media has started to criticize cryptos and people have started to lose faith in the crypto market.

If the amount of money being used in such hash wars would have instead been used for the development of the crypto ecosystem with advancements such as lightning network, the market could still be flourishing rather than being on the verge of getting sunk.

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