In discussing profitable Cryptocurrencies to mine, it is important to note that the world’s strongest and oldest Cryptocurrency is Bitcoin. Surprisingly, research has revealed that it is not the best to mine. Besides, the most profitable Crypto to mine is not determined based on how long it has existed. Many other factors are considered.
This article will majorly focus on the most profitable Cryptocurrencies to mine through which you can multiply your investment within a short period of time. You can also make more research on these coins. These most profitable Cryptocurrencies to mine in 2022 include:
- RavenCoin (RVN)
RavenCoin is a peer-to-peer blockchain, that handles the efficient creation and transfer of assets from one party to another. It is one of the most profitable Cryptocurrencies to mine which primarily focuses on transforming decentralized mining. Historically, it was named after the small blackbirds in George R.R Martin’s fictional world of Westeros.
The coin was launched on the 3rd of January, 2018 and designed to enable instant payments seamlessly In 2019, the developers featured it with magnificent features such as a mobile wallet with seed phrase, enabled messaging, better compatibility, voting with RVN, etc. Interestingly, the main reason RavenCoin is recommended for miners is that it uses the X16R algorithm and KawPow protocol.
Furthermore, it is based on Ethereum and Bitcoin in terms of asset transfer. The total coin supply of RavenCoin is about 21 billion and has a market capitalization of more than $135 million.
2. Monero (XMR)
Monero is a Cryptocurrency that uses the RandomX hash function. It is based on the CryptoNote protocol holding the utmost significance of equity in mining crypto. It is one of the top cryptocurrencies to also mine in 2022, with more than $3 billion in market capitalization.
One beautiful thing about it is that its mining rig is easy to set up. All you need to do is to acquire the mining hardware alongside the wallet, and you are all set to configure it.
In furtherance, the block time of this crypto is 2 minutes, whereas its minimum supply is not mentioned.
3. LiteCoin (LTC)
LiteCoin is an open-source software project released under MIT/X11 license. Also, it is a peer-to-peer Cryptocurrency established in October 2011. Technically put, it is identical to Bitcoin. Never will it be wrong to mine LiteCoin as it is a robust Cryptocurrency used by a range of users around the globe. Among other altcoins and profitable Cryptocurrencies to mine, it is less volatile, making it exchangeable on a wide array of platforms. In addition, it is a high-speed coin with lower transaction fees.
4. Ethereum Classic (ETC)
Among the list of profitable Cryptocurrencies to mine is Ethereum Classic, this Cryptocurrency aims at maintaining the original Ethereum blockchain. It was launched in July 2016. Recently, research has it that it has a market capitalization of about $13 billion Ethereum Classic is a transformed version of Ethereum’s Ethash mining algorithm called EtcHash, supporting the DApps and Smart Contracts.
Mining Ethereum Classic is very simple, and it’s by acquiring the wallet and a graphic card which supports it. The block time for this Cryptocurrency is in the neighbourhood of 13 seconds.
5. Metaverse (ETP)
This Cryptocurrency is traceable to China and it’s a coin that powers the blockchain-as-a-service (BAAS) platform.
Moreover, it is an open-source, public blockchain that provides digital identities, assets, properties, as well as oracles as an infrastructure for organizational and social needs.
It is generally said that the right time to succeed in mining this Cryptocurrency is now.
6. Dogecoin (Doge)
Dogecoin is a Cryptocurrency made for fun with the symbol of the dog by Billy Markus. It stands tall among all other existing altcoins and has broken records. It’s a very promising coin.
In May 2021, its price climbed to $0.558, which was initially $0.00026 in December 2020. In fact, Dogecoin’s daily trading volume has skyrocketed and its market capitalization has peaked at an unbelievable price of 93.38 billion. Doge as it is casually called has no supply cap, that is, it is not considered a hedge against inflation.
7. Cardano (ADA)
Arguably, Cardano is one of the most profitable Cryptocurrencies to mine. It is a coin that has great potential, well equipped with a flexible network and fast transactions providing a seamless user experience.
Amazingly, one can make a reasonable amount of money by investing in Cardano through trading, mining and ETFs. Opinions predict that it has a high likelihood of surpassing Litecoin and Ethereum.
8. BitTorrent Token (BTT)
BitTorrent is a well-known Cryptocurrency established on the Tron blockchain by the BitTorrent foundation in 2019. The coin was launched on the Binance launchpad as a TRC-10 token. BTT as a lucrative Cryptocurrency was created to expand the portfolio’s competencies and is an ideal choice for value exchange, fast decentralized data storage and third-party App developers.
9. Monacoin (MONA)
Monacoin is similar to Dogecoin and it is a meme coin having a very active community in Japan. It was created back in 2013. Miners do not require ASIC machines in order to mine this crypto. The interesting part is that its mining involves minimal investment, unlike other heavy coins.
10. Aeternity (AE)
Aeternity is one of the Cryptocurrencies to mine owing to its available options of allowing miners to launch and run decentralized applications or smart contracts scaling through state channels.
Conclusion on the Most Profitable Cryptocurrencies to Mine in 2022
Even as you are considering the best Cryptocurrency to mine, it is very important to check the profitability of each Cryptocurrency with the help of a mining ‘profitability calculator’.
Listed below are the steps that will help you find the best coin to mine effortlessly by allowing you to compare it with the profitability calculator:
- Once you enter the total hashing power of your mining rigs, you can check each GPU, CPU, or ASIC chips rate. You can check all of them on the non-specialized hardware comparison.
- The next step is to enter the total power consumed by your rigs in watts.
- Then, enter the price of your electricity in kw/hr. If you are not aware of the prices per kw, you can ask your electricity provider.
- If you have joined the paid mining pool, enter its fee.
As the globe is rapidly embracing Cryptocurrency, it is important to make use of available opportunities that can help in making you a Crypto owner without making any payment. You can check out the above list of the most profitable Cryptocurrencies to mine and in the end, you could sell out that particular Cryptocurrency you were able to mine.