Mining Altcoins: Best Coins to Mine

Mining cryptocurrency is one of the best ways to make money with it. However, not all crypto has the same worth. Some types of cryptocurrency give you a better return on your investment. With this in mind, what are the best coins to mine?

The best coins to mine right now are:

ECOS
Verticoin
Grin
Monero
ZCash
Ravencoin

Mining cryptocurrency is a great form of passive income for many people. So, read on to find out more about these forms of cryptocurrency and the trade of mining cryptocurrency.

What Are the Best Coins to Mine?

There are so many types of cryptocurrency that exist. Each one has benefits and drawbacks and is good for different purposes. This section will go over each of the best types of cryptocurrency for mining and highlight the benefits of each.

ECOS (EcoDollar)

EcoDollar is a form of cryptocurrency that gives secure, anonymous, and unrestricted storage and transfer to all who use it. The goal of EcoDollar is to help make a greener planet. They have a platform where you can invest and mine as much as you want. Ecodollars can be purchased directly from their website.

The security that EcoDollar provides means it is a great option for mining. There is less risk of hacking or other hazards that will get in the way of your mining efforts. The price of the EcoDollar is also really low, at only $1 per Ecodollar

Vertcoin

Verticoin uses a LyraR2E proof of work algorithm to verify cryptocurrency transactions and avoid fraud and other issues. It is ASIC resistant, so there are no restrictions on mining, and it can be mined by GPU. There are two different Vertcoin networks to support varying graphics card power.

As of May 2021, Vertcoin costs $1.32 to invest in, and it must be mined using the Verthash mining software. Vertcoin is the best choice for single miners who want to use mining pools for their mining projects.

Grin

Grin is a type of cryptocurrency called privacy coins, which means they are only used during private transactions between people. It is one of the newer cryptocurrencies, as it was only introduced to the market in 2019. It can be mined with several GPU mining software, including Gminer and GrimGoldMiner

Grin is also ASIC resistant. It is worth $8.70 but does not have a limited supply. It is the best choice for companies or individuals that do not need transparency for their cryptocurrency transactions.

Monero

Monero was one of the top cryptocurrencies for mining in 2021, with a market value of more than 3 billion, and ranked 14th in the market. It’s easy to mine as long as you set up the right software and the wallet, and it is ASIC resistant as well.

Monero is mined using the RandomX hash function and is based on the CryptoNote protocol, ensuring equity. It is currently priced at $456.56. Monero promotes the privacy of all transactions thanks to non-traceability features. This cryptocurrency is best for users who are just starting to mine because you do not need to invest a lot of money to start.

ZCash

ZCash is one of the cryptocurrencies on the market with ASIC resistance that can be mined using GPU, making it easier to mine. It was introduced in 2016 and will be sustainable in the long term because its value is not as fragile as other cryptocurrencies on the market. It has some of the most privacy options for cryptocurrency as well.

There is even an option for users to display their wallet data publicly if they wish, increasing data transparency. ZCash has a really low fee of 0.0001 per transaction and is currently priced at $307.11. It is best for single users who prefer private to public transactions and is backed by major scientific companies like Johns Hopkins.

Ravencoin

Ravencoin has been named one of the best coins to mine. It was launched on January 3rd, 2019, to optimize asset transfers from person to person. RavenCoin is great for mining because it uses the X16R algorithm and KawPoW protocol. Its current market value is more than $135 million

The peer-to-peer network on RavenCoin allows for easy asset transfer. It cannot be mined using ASICs, making it one of the lowest-value cryptocurrencies to start mining. RavenCoin is currently priced at $0.1634 per coin and is best for beginners who prefer mining that does not require a large investment.

These are some of the best types of cryptocurrencies to mine during 2022. Most of them focus on privacy and low investment rates, making it easy for users to start mining. The mission EcoDollar has of contributing to a greener planet is timely as well.

While all of these qualities are great, how do you know what characteristics to consider when choosing a cryptocurrency to mine?

Consider these key factors when selecting a cryptocurrency for mining:

Exchange Support: Check how many cryptocurrency exchanges offer the coin you intend to mine. Ensure that these exchanges allow for profitable trading and support easy withdrawals. Some coins may limit withdrawals to their internal exchange wallets, incurring high commission fees.
Legal Considerations: Verify the legality of cryptocurrency mining in your country. Some nations have banned mining activities, while others permit it under specific conditions. Understanding local regulations is crucial to avoid legal issues.
Coin Legitimacy: Ensure the legitimacy of the cryptocurrency you plan to mine. Not all cryptocurrencies are created equal, and some may lack a genuine use case or strong community support. Research the background and purpose of the coin to make an informed choice.
Equipment Durability: Assess the longevity of the mining hardware required for your chosen cryptocurrency. If the equipment has a short lifespan relative to your mining goals, exploring alternatives with more durable hardware requirements may be more prudent.

Once you consider all of these parameters, you will know which coin is the best choice for you in your mining ventures.

Conclusion

The best coins to mine are EcoDollar, Vertcoin, Grin, Monero, ZCash, and Ravencoin. All of these options have good privacy settings and do not require a large investment. They are also ASIC resistant and have a high market value which means you will get a good return on your investment.

Don’t stop now, you’re doing great. Keep reading to discover financial independence. Click here to read about, Simple Ways to Get Rich With Cryptocurrency.