Are you looking to earn cryptocurrencies without depositing and investing your money in them? We inform you about the best cryptocurrencies to mine in 2022 using CPU, GPU, solo or in mining pools.
Primarily, miners receive Bitcoins for completing “blocks” of verified transactions added to the blockchain. So, you can start mining today at no cost. You just need a computer and know the specifications to set up the equipment and start mining in the most profitable way possible.
The value of cryptocurrencies is not constant and depends on many factors, so it is important to learn how to calculate the profitability of mining cryptocurrencies or access tools that calculate it for you. This way you will know if a cryptocurrency is good for mining, or if there is another more profitable one in the market.
Some important factors when calculating profitability in cryptocurrencies:
- Chosen cryptocurrency: It is fundamental since each of them has a different technology behind it, protocols, price and other characteristics that make them unique.
- Hash Rate: Indicates the number of operations that your mining equipment can perform. It’s kind of like your mining ability.
- Price / Consumption of electricity: It will depend on the location of the mining farm or the equipment destined for it.
- Cost of the hardware: It is advisable to have the cost that will have or will have the equipment that we will use and the possible costs derived from its breakdowns.
- Pool Fee: If you mine in a mining pool, there are usually some fees that must also be taken into account.
- Number of exchanges in which it is listed: It is usually a good indicator that it has the support of several exchange houses and has enough liquidity.
Profitability calculators
There are numerous applications that perform these calculations based on cryptocurrency and other variables. These calculators will help us check the most profitable cryptocurrencies to mine, the best known are:
- MinerStat
- CryptoMiner
- CryptoCompare
All of them allow a calculation of profitability in real time. We must simply have the above data and fill them in the fields indicated by each of the platforms. Types of cryptocurrency mining
Mining is usually divided into 3 types according to your method:
- Individual mining or solo mining: This is an independent mining based on own equipment, which does not require collective participation in the pools. In this case, all the coins you have mined, as well as the transaction fees, belong to you as a profit. Equipment power is important for individual mining, as a large hash rate is required to ensure computational complexity. Solo mining is beneficial for relatively new cryptocurrencies.
- Collective mining in pools: It is a common computer network, which is dedicated to the creation of new blocks. The mined coins are divided among the miners, according to their own participation in the process.
- Cloud mining: Here the power of an industrial-scale service is rented unlike the previous two mining methods that use their own equipment. In this case, you no longer need to start your own farms and maintain them. It is usually the one that offers the highest profitability of mining, and the greatest investment.
List of Best Cryptocurrencies to Mine in 2022
Bitcoin is the most popular and oldest cryptocurrency, however, it is not the best cryptocurrency to mine. Maybe you’re thinking, what’s the best currency for mining? Or what are the cryptocurrencies that can provide better income with mining?
Take a look at the proposal of the 10 best cryptocurrencies to mine, through which you could generate profits in a few months:1º Ravencoin
This cryptocurrency was launched on January 3, 2018 and was designed to enable instant payments. In 2019, the developers introduced this coin with great features like messaging enabled, mobile wallet with seed phrase, better compatibility, RVN voting, etc.
The main goal of RavenCoin is to create a blockchain optimized for the transfer of assets from one person to another. The main reason why it is recommended for miners is that it uses the X16R algorithm and the KawPoW protocol.
It is based on Ethereum and Bitcoin in terms of asset transfer. RavenCoin’s total coin supply is 21 billion and has a market capitalization of over $1 B.Features of Ravencoin for cryptocurrency mining:
- Block reward: 5,000 RVN
- Algorithm: proof of work
- Hash function: X16R
On the official website we can find all the documentation regarding the mining of Ravencoin. Why is Ravencoin a good choice for mining?
There are many reasons to mine RavenCoin in 2022, including:
- It cannot be mined with ASICs, allowing people to mine at low upfront costs.
- Any popular software such as BMiner, NBMiner and DamoMiner can be used.
- A block is created or mined every minute to generate a block reward of 5,000 RVN.
2nd Ethereum
Ethereum’s Ether is by far one of the most popular cryptocurrencies, being present in the area of cryptocurrencies since 2013. The developer company is known for the innovation with which it was launched: smart contracts.
Ethereum has a large market cap (over $242 billion right now). However, keep in mind that it is usually difficult to extract if you plan a small investment. But if you have the necessary resources, do it. Features of Ethereum for cryptocurrency mining:
- Block time: 13 seconds
- Best hardware to use: GPU, CPU
- Better mining performance in pools
Official documentation on mining with Ethereum. Why is Ethereum good for mining in 2022?
Ether uses a proof-of-work hash function, Ethash. It can still be profitable to mine it if you do it in a pool or through cloud mining. It’s not a good idea to mine Ethereum alone, even if you receive the full-block mining reward. However, ETH has the same advantage that Bitcoin has: you can be more or less sure that its price will remain strong for years to come.
Considering that it is more profitable to mine than Bitcoin, Ether still deserves a place on our list as one of the most profitable cryptocurrencies to mine. However, we recommend joining mining pools or considering cloud mining if you want to make a profit by mining Ethereum.3º Monero
Monero is a cryptocurrency that uses the RandomX hash function. It is based on the CryptoNote protocol which has great popularity in cryptocurrency mining. It is one of the top cryptocurrencies to mine in 2022, with over $4.8 billion in market capitalization. It is ranked 38th on the list of largest cryptocurrencies. Features of Monero for cryptocurrency mining:
- Block Reward: 2.15 XMR/block
- Algorithm: proof of work
- Suitable for solo mining
Why is Monero good at mining in 2022?
The best thing about Monero is that it’s very easy to start mining on its blockchain. You just need to have a mining equipment along with the official software, and you are already prepared to start mining your first cryptocurrencies.4º Litecoin
Litecoin is an open source software project released under THE MIT/X11 license. It is a peer-to-peer cryptocurrency established in October 2011. Technically, it is identical to Bitcoin.Features of Litecoin for mining:
- Block Reward: 12.5 LTC
- Algorithm: proof of work
- Hash function: Scrypt
Why mine Litecoin in 2022?
Mining Litecoin will never be a wrong decision as it is a robust cryptocurrency used by a wide range of users. In addition, it uses the SCRYPT protocol, which means that you do not need to buy ASIC chips; and can be easily extracted with the GPU.
In addition, it is less volatile than other altcoins, making it easily interchangeable on a wide range of platforms. In addition, it is a high-speed coin with lower transaction fees.5º VertCoin
