Some cryptocurrencies are easier and less expensive to mine than others.
The birth of cryptocurrencies also introduced the concept of mining, thanks to the PoW (Proof of Work) consensus protocol, so-called because proof must be provided that a problem has been solved and a certain amount of energy has been consumed to achieve that result.
The computing power, in this case, is provided by computer processors that can be either CPUs (Central Processing Units) or GPUs (Graphics Processing Units), i.e. graphics cards that have proven to be formidable for mining algorithms.
Furthermore, there are also purpose-built machines called ASICs, but they are not welcomed by most crypto communities because their purpose is to use the power to obtain profits rather than to support the network.
In fact, there is a real marketplace for mining farms, so if the crypto mined doesn’t perform above a certain value, then the miners shut down the machines and wait for better times.
Anyway, in this article we want to talk about the small miners or those who have so a lot of unused power and so, in this case, as a marginal activity, they can personally experience how mining works.
Before entering these virtual mines, it is wise to keep a few factors in mind:
- The hardware we want to mine with, CPU or GPU. In the case of GPUs, a distinction should be made between an AMD or Nvidia card;
- Evaluate what to mine for profit in the short term;
- Evaluate what to mine to make a profit in the long term, hence to accumulate a certain cryptocurrency.
How to choose the crypto to mine
To figure out which crypto to mine there are fortunately several online platforms that allow you to roughly estimate how much can be obtained from a given crypto, for example one of these websites is What to Mine.
But which cryptocurrency is the easiest to mine and which has an interesting cost/profit ratio?
Surely this is not a simple answer because all cryptocurrencies require a minimum of configuration.
You also need to decide whether to mine on your own or with a pool. In the latter case, you have to enter the parameters of the pool.
What we can do, though, is to determine which cryptocurrencies are the best.
In the short term, Zcoin (XZC) seems to be a good choice, as it provides all the guidance on how to mine according to your hardware.
If we want to make the most of our CPU, then the crypto par excellence is without a doubt Monero (XMR).
Finally, in the long term, the best are Bitcoin (BTC) and Ethereum (ETH). About the latter, however, it should be added that with the advent of PoS (Proof of Stake) it could increase its value considerably.