Cryptocurrency mining is becoming exponentially competitive. Previously anyone with a PC could exploit it to make a profit, but now you need expensive equipment to do that. So which coin is the most profitable to mine in 2020?
Bitcoin will be most profitable if you have millions of dollars la to invest
Mining profits crypto There are many nuances, depending on many factors such as hardware, electricity costs and the type of cryptocurrency you want to exploit.
Bitcoin is the most profitable coin worth mining right now, although this is not the best option if you are an individual miner. Bitcoin mining is extremely competitive, requires specialized hardware in the form of ASIC rigs, and requires cheap electricity to maximize income.
Bitcoin is primarily mined by large companies with millions of dollars invested in thousands of ASIC mining tools, cooling systems and operating in countries with competitive electricity prices. Bitcoin's block reward currently pays $ 14,130,000 for miners every day, at the current BTC price.
Other than Bitcoin, which crypto will make your mining the most efficient?
ETH – the second most popular cryptocurrency is the most profitable coin for most home miners. Although ETH has developed ASIC, making GPU mining less profitable, ETH still allows GPU mining. ProgPOW is a mining algorithm change designed to restore ASIC resistance to ETH mining. Other ETHASH coins exist to mine after ETH transfers to PoS.
ETC – This is another ETHASH crypto coin that is profitable for home miners using GPU mining rigs. It is expected that the ETC hashrate will increase after ETH 2.0 is released and no longer support mining.
Grin – Grin's CT31 and CR29 algorithms also provide high returns for home miners. Grin is designed to be as resistant to ASICs as ETH and other coins in order to continue decentralized mining and to know miner's preferences.
Haven Protocol – Haven Protocol uses Cryptonight, the PoW algorithm is also used by Monero and several other cryptocurrencies. Nvidia GPUs are better suited to exploit Cryptonight more effectively than AMD GPUs, although both can be used to mine Haven.
BitTube – BitTube is a decentralized YouTube alternative that uses blockchain. Content creators get paid with TUBE tokens. BitTube also uses Cryptonight and is a smaller capitalization coin that has been proved to be highly profitable for GPU miners recently.
There are also many smaller coins with mining profits, despite self-research, as many smaller capitalized projects can disappear, be hacked or exit scams at any time. Therefore, smaller projects often have a much higher risk for miners who are trying to refund the hardware they have purchased.
Take risks when deciding to mine a coin.
According to Bitcoinist
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