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Mining is one of the easiest ways to get crypto and earn passive income. The best part? You don’t need high-end, expensive equipment to get started. In this article, we’ll show you some of the easiest crypto to mine and break down exactly what you need to get started.
Coin name | Reward | Average difficulty | Mining algorithm | Hardware requirement |
---|---|---|---|---|
0.6XMR | Easy | RandomX | CPU or GPU (ASIC-resistant) | |
2.5 ETC | Easy/medium | Etchash | GPU | |
3.125 ZEC | Easy | Equihash | GPU/ASIC | |
12.5 LTC/block | Medium | Scrypt | ASIC miners | |
2,500 RVN | Easy | KAWPOW | CPU or GPU (ASIC-resistant) | |
2.68 DASH | Easy | X11 | GPU/ASIC recommended | |
10,000 DOGE | Medium | Scrypt | ASIC | |
12.5 VTC/block | Easy | Lyra2RE(v3) | CPU or GPU (ASIC-resistant) | |
60 GRIN | Easy | Cuckatoo32+ and Cuckaroo29 | GPU/ASIC |
When looking at the best cryptocurrencies to mine, there are several factors to consider. Our list considers various factors such as mining rewards, difficulty level as well as hardware components. Whether you are a beginner or an experienced miner, these coins offer great mining rewards and are easy to set up.
Monero is one of the easiest cryptos to mine, especially if you are interested in an ASIC-resistant option. Unlike Bitcoin and some other cryptos that require efficient ASIC miners, you can easily mine Monero using CPU or GPUs. This means anyone can mine Monero comfortably from their home without having to spend much on equipment. Monero’s RandomX algorithm helps ensure the whole thing stays decentralized by favoring consumer-grade hardware over specialized equipment.
How much do these CPUs cost? Not so much compared to some other hardwares. You can get a mid-range CPU like the AMD Ryzen 9 series for around $400 to $500. The Core i9 series is a high-end CPU, costing around $600 to $700. Both are pretty solid options.
Monero is still profitable to mine, offering constant rewards for your mining operation. Monero rewards 0.6 XMR for mining. Also, by joining a mining pool, you can increase your chances of earning cryptocurrency mining rewards. Monero has low electricity cost unlike Bitcoin, making it one of the easiest cryptos to mine. Furthermore, Monero’s flexibility in mining software options allows you to set up without much difficulty.
Ethereum Classic (ETC) was created in 2016 after Ethereum split into two different chains. While Ethereum is no doubt more popular, Ethereum Classic remains one of the best cryptocurrencies to mine in 2024. Ethereum Classic is less difficult than options available to mine Bitcoin, it is also one of the easiest cryptos to mine from home and a good choice to begin your mining journey. You can mine ETC easily with GPU.
Recommendable GPUs for Ethereum Classic (ETC) are the NVIDIA GeForce RTX 3060 Ti and the AMD Radeon RX 6800 XT. Both are priced within the $500 and $1,200 range. However, the model determines the price. Using a higher GPU will ensure you enjoy greater hash rates, meaning you have a higher chance of earning mining rewards. Furthermore, Ethereum Classic uses the Etchash algorithm which is very memory-intensive. You can easily mine ETC with a GPU with 4-8 GB of VRAM.
ZCash is another coin we’ll recommend for those searching for the best crypto to mine in 2024. ZCash (ZEC) is one of the top privacy coins, and it uses the Equihash algorithm, which makes it one of the easiest cryptos to mine with a GPU. Although some ASICs are good for mining ZCash, we’ll recommend GPU as the smartest option. There are a couple of good GPU options. You can mine ZCash with the NVIDIA RTX 3080 or AMD Radeon RX 5700 XT. Both cost between $700 to $1,200. ZCash’s algorithm requires large memory bandwidth. So, it’s best to use high-end options for effectiveness.
If you are interred in ASIC options, the Antminer Z15 is good to go. In terms of current mining rewards, ZCash offers attractive options. It offers 3.125 ZEC per block. Crypto mining operations always come with electricity concerns. But when you consider expenses, ZCash provides a good balance of profitability.
Litecoin (LTC) remains a strong choice for cryptocurrency miners in 2024, and one of the best cryptocurrencies to mine thanks to its stable value. Litecoin uses the Scrypt algorithm, and is also one of the easiest cryptos to mine with both GPUs and ASICs. These options cater to different levels of other miners. However, ASIC miners currently dominate the Litecoin mining landscape. ASIC hardware for mining Litecoin can be a bit pricey.
For example, the Antminer ASICs cost $11,000, and could go higher depending on your specific needs. We’ll recommend you use ASIC for better efficiency and greater chances of getting mining rewards. In terms of mining software, there are several options available. For example, the MultiMiner supports both ASIC and GPU mining.
How expensive are Litecoin crypto mining rigs? This varies and would depend on your choice of hardware. Using ASIC hardware would require a significant upfront investment. Then, there’s also electricity consumption. However, Litecoin offers generous block rewards of 12.5 LTC per block, which makes sense and is pretty profitable. Although at-home miners will struggle competing with large-scale miners, joining a mining pool will help you get better mining rewards.
Ravencoinn is a relatively new crypto, making it easy to transfer assets. Interestingly, it is also one of the easiest cryptos to mine. Ravencoin is a smart choice if you are looking for a GPU-friendly option. It uses the KawPoW algorithm, designed to be ASIC-resistant, which makes it one of the easiest cryptos to mine for home miners with a decent GPU setup. Furthermore, the algorithm ensures everything stays decentralized by discouraging the use of specialized ASIC miners.
Ravencoin also offers attractive mining rewards per block, making it one of the most profitable cryptos to mine with a GPU. Ravencoin offers 2,500 RVN per block, but you can increase your shot at getting those rewards if you join a mining pool. Ravencoin’s relatively low energy consumption and affordable mining hardware requirements make it one of the best coins to mine for those keeping an eye on electricity costs and overall profitability.
Dash is one of the oldest cryptocurrencies and the best cryptos to mine in 2024. Dash’s biggest appeal is its X11 hashing algorithm, which is compatible with both ASIC miners and GPU mining. Although ASIC-resistant coins like Ravencoin and Monero are easier to mine, the use of ASIC hardware makes Dash one of the most profitable coins to mine for miners with specialized equipment. Dash is easier to set up than Litecoin.
However, electricity cost is something to factor. Regardless, the rewards are generous. Dash offers 2.68 DASH mining rewards per block but miners can increase their earnings by joining mining pools like the P2Pool or F2Pool. Dash also offers a robust mining software ecosystem, which supports both individual miners and larger mining operation. If you have the right mining hardware, Dash remains one of the best cryptocurrencies for mining.
Dogecoin (DOGE) is one of the easiest cryptos to mine, especially for beginners. Dogecoin has an inflationary supply model, meaning there’s no maximum cap. So, miners are sure to get constant rewards. Dogecoin uses the Scrypt algorithm, which is more energy-efficient than Bitcoin’s SHA-256. Here’s the best part: you can mine DOGE with ASIC miners and strong GPUs. This makes Dogecoin one of the best cryptocurrencies to mine if you are searching for cheap entry points to mining. However, ASIC is the most preferable for efficiency.
Dogecoin supports a feature known as merged mining. This allows you to mine both Dogecoin and Litecoin simultaneously. Both coins use the same Scrypt algorithm, and can be mined using the same computational effort. In terms of set up, cost would depend on your hardware choice. ASIC miners like the Antminer L7 cost around $10,000 and $15,000. The cryptocurrency mining rewards for Dogecoin remain consistent at 10,000 DOGE per block. Dogecoin’s popularity means there is always a market for what you mine. So, Dogecoin is one of the most profitable cryptos to mine in terms of ease and reward frequency.
Vertcoin is one of the easiest coins to mine thanks to its design. It is mostly suitable for beginners using GPUs. Vertcoin is ASIC-resistant. So you can only mine it with friendly hardwares like a CPU, making it good for home miners. Vertcoin uses the Lyra2REv3 algorithm, which is energy-efficient and helps keep electricity costs low. Miners can use Vertcoin’s mining software, One-Click Miner, which simplifies the setup process. In terms of rewards, Vertcoin offers 12.5 VTC per block. However, consider a mining pool to increase their chances of earning rewards.
Grin, privacy-focused, is relatively new, and one of the best cryptos to mine. Grin supports two algorithms, Cuckatoo32+ and Cuckaroo29. Thanks to this, you can mine Grin with both GPU and ASIC. Each algorithm has its preference. For example, CuckARoo29 is more suitable for GPUs with at least 6 GB of memory, while CuckAToo32+, works better with powerful ASICs or GPUs with 11 GB or more. We’d recommend strong GPUs for mining Grin like the Nvidia 1080, Nvidia 2080, and the Nvidia Ti series.
The most profitable crypto to mine depends largely on several factors such as hardware, electricity costs, market downturns, and more. The most profitable options for 2024 would be ZCash, Ethereum Classic, or even mine Bitcoin. These coins have enjoyed strong demand and have great appeal since they offer high mining rewards per block.
While it is profitable to mine Bitcoin, it is more difficult to access due to its strong hardware requirements. For easy to set up coins, Ravecoin, Monero, and Vertcoin offer better profitability. They are also GPU-friendly and are less electricity-intensive, making them the easiest cryptos to mine.
Choosing the right crypto mine involves considering lots of factors:
This simply means how easy or difficult it is to solve complex mathematical problems needed to validate transactions. A higher difficulty means it will take longer to mine a block and earn rewards. And difficulty levels tend to go up with more miners on the network. This means you have to invest in more powerful hardware to mine blocks for rewards. Some miners even go to the extent of setting up huge Bitcoin mining facilities. So, it’s always best to go for coins with decent difficulty levels.
Hardware plays a huge role in deciding your profitability. Some coins need specialized ASIC miners, which can be cost intensive to get. Others need high-end GPUs. So, before choosing a coin, it’s important to understand if your current hardware setup is suitable for mining the coin. This ensures you go for coins that match your current setup.
Each crypto has different mining rewards per block, which can greatly affect your overall earnings. It’s important you analyze the reward structure of a coin, including the frequency of block generation and any future halving events that could impact profitability. Coins with substantial block rewards and low competition may provide higher potential rewards, making them attractive choices for miners looking to maximize income.
Crypto mining is electricity intensive, and spending much on power isn’t good for your profit. It’s important to consider the electricity cost of your region before setting out. Mining in areas with cheaper electricity means you get to keep a chunk of your profit rather than spending it on power.
Different countries have varying rules on cryptocurrency and mining activity. Some countries like China have placed an outright ban on mining while others have tax implications on mining proceeds. So, study the applicable rules in your region before moving on with mining.
Crypto mining is a lucrative way to increase mining income throughout passive methods. However, there are lots of factors to consider to successfully mine crypto, including hardware requirements, electricity consumption and general market demand. By considering these factors, crypto mining can become a rewarding venture for you.
Yes, crypto mining can be profitable if you find good cryptocurrencies with simple mining processes. Cryptocurrencies that do not require high investment for mining will be profitable.
Vertcoin, Raven coin, Grin, Dogecoin, Bitcoin Gold, and Monero cryptocurrencies are profitable to mine with GPUs.
Mining cryptocurrencies at home is profitable. However, you need to choose cryptocurrencies that can be mined on PCs with CPUs and GPUs.
Crypto mining involves risks such as fluctuating prices, malfunctions, software errors, etc. It is essential to take necessary precautions to protect equipment and avoid these risks.
Monero (XMR) is often regarded as the easiest crypto to mine for beginners. Unlike other coins like Bitcoin, Monero does not require specialized hardware, meaning you can access it with a standard CPU.
Vertcoin (VTC) is considered one of the lowest difficulty cryptos to mine. Vertcoin is ASIC-resistant and focuses on GPU mining, meaning more miners can participate without having to spend much on equipment.
The most efficient crypto miners are ASIC miners, especially for coins like Bitcoin. One of the most efficient models is the Antminer S19 Pro, helping large-scale miners maximize their profits.
DAILY NEWSLETTER
Your daily dose of Crypto news, Prices & other updates..