Would you like to earn cryptocurrency without investing or putting any money down? Then, you’ve come to the right place if you’re looking to learn more about easy cryptocurrency mining.
Additionally, we will inform you about the best cryptocurrency to mine using a GPU.
Throughout this article, we will look at the best cryptocurrencies to mine in 2021 using a GPU.
Small at-home mining operations can continue to mine these digital currencies profitably with the correct GPU configuration and low electricity costs.
In order to understand how mining cryptocurrency using a GPU (home computer) works, let’s first examine how the most important cryptocurrencies, such as Bitcoin and Ethereum, are mined.
Some of the world’s largest and best-known crypto tokens are mined using ASIC (Application Specific Integrated Circuit) mining equipment, which is purpose-built to mine a single crypto asset.
However, they can be pretty expensive. In addition, it can be challenging to compete with more complex miners for the same coin’s mining incentives if you don’t constantly upgrade your ASIC miner.
Bitcoins are awarded to miners for successfully completing ‘blocks’ of confirmed transactions added to the blockchain.
As a result, you can start mining immediately. All you need to know is that you need to have a GPU configured to be able to invest in digital currencies.
Table of Contents
- What are the Types of Crypto Mining?
- What is GPU?
- What is the best way to mine cryptocurrency using GPU?
- Cryptocurrency Mining Breakdown
- Terminology Used in Cryptocurrency Mining
- How to choose the best Cryptocurrency to mine in 2021?
- Best Cryptocurrency to Mine Using GPUs (2021)
- Final Thoughts
What are the Types of Crypto Mining?
Cryptocurrency mining can be viewed in two different ways; one is based on your interests, and the other is based on your needs. You can either view it as a process, or you can be fascinated by the approaches used.
1. Crypto Mining Process
a. CPU Mining
CPU mining is mining done by using the CPU of a computer. CPU mining has the advantage of being able to be practiced by purchasing a CPU and witnessing the process firsthand. Therefore, you can experiment with CPU mining before investing in GPU or ASIC mining.
However, mining of this kind is old-fashioned and not employed any more. This can be attributed to a number of factors, including:
- The process is extremely slow
- The average hash rate is 0.7MH/sec
- An excessive amount of power consumption
CPU Mining is significantly less efficient to mine with CPUs than with ASICs or GPUs. Furthermore, you may not be able to validate transactions with it.
b. GPU Mining
The GPU mining process is a type of video card mining. Ultimately, the most critical part of your computer for gaming is the video card.
These GPU miners are flexible and can mine a wide variety of coins. You can swap between coins in the event of a bearish or bullish market. It also offers numerous benefits, especially in the realms of gaming, video editing, and streaming.
GPU mining has the disadvantage of consuming significantly more electricity than ASIC mining. Additionally, the computer needs to be highly sophisticated. You may also need patience since it may take some time for your initial investment to be repaid.
c. ASIC Mining
ASIC mining is based on specialized algorithms. Likewise, cryptocurrency mining is conducted on specialized equipment.
It is basically a computer component that is designed to work with a specific application. It outperforms both CPU and GPU in terms of performance, with a hash rate of up to 14 TH/s. Consequently, profits increase overall.
2. Crypto Mining Methods
It is an excellent solution for miners who don’t have the technical knowledge and want to enjoy the show. Mining cryptocurrency with these miners involves three distinct processes, including:
a. Solo Mining
Individual mining is what it sounds like; you are the one who purchases your own equipment. Miners who work alone do not depend on other miners and receive rewards for unlocking new coins are Solo Miners.
Solo mining comes with an equal degree of competition, though the rewards are compelling and exciting. Those who wish to be the first to validate the transaction must pay a significant amount of money to acquire the equipment.
If you cannot invest a sizable sum of money, you should not consider solo mining.
b. Pool Mining
Mining the best cryptocurrencies is not necessarily within the means of every individual.
As a result, pool mining was discovered to be a viable solution to the issue.
Crypto mining is simplified with this technology, which ensures that incentives are received. The miner needs a server capable of pooling the power of other pool miners to join this enormous ocean of pool mining. Therefore, this strategy increases your chances of winning substantial prizes by unlocking new coins.
c. Cloud Mining
Cloud mining may be an option for people whose risks and investment possibilities are limited by the high cost of mining equipment.
Cloud mining is primarily valuable for expanding the usefulness of cryptocurrencies. Furthermore, this technology enables users of cryptocurrency to rent processing power from mining companies.
Thus, it becomes simple to identify the most significant Cryptocurrency to mine with the least expenditure. You can as well withdraw your money at any time without imposing additional investment pressure.
What is GPU?
Bitcoin mining was initially performed using CPUs (Central Processing Units), not GPUs.
GPUs eventually replaced it due to their slower processing speeds, inefficient mining processes, and excessive power consumption, which led to a limited output.
With the introduction of the GPU, everything became more manageable and smoother.
Graphics Processing Units (GPUs) are entirely responsible for rendering digital content on computers. The enormous power capability of GPUs makes them indispensable for blockchain mining as they improve accuracy and speed.
Since GPUs require less power than decentralized computing power, miners prefer to utilize them instead.
Having a powerful GPU is essential for bitcoin mining.
What is the best way to mine cryptocurrency using GPU?
You must acquire the following items before you can begin your journey with Cryptocurrency:
- An open-source package of mining software.
- Free and private database stores all of your earnings and allows you to view every transaction in your wallet.
- Online participation in a pool. To secure income and profit consistency, you need to join a community of experienced miners who pool their computers.
- An online currency exchange membership.
- A computer designed specifically for seamless mining.
- An extensive research and development effort has gone into developing graphic processing units (GPUs).
Cryptocurrency Mining Breakdown
Is cryptocurrency mining something you might be interested in? The reason is that a fraction of the new cryptocurrencies would be distributed to you. It’s that simple!
Crypto mining is the process of decrypting cryptographic transactions using complex mathematical equations. Therefore, Crypto mining does not result in the creation of a new cryptocurrency, as some think.
It refers to the process of removing a coin from the overall supply rather than that. You can even mine a cryptocurrency that is already in circulation.
Since the majority of cryptocurrencies have a finite number of coins, their value rises as demand increases.
According to the thumb rule of the market, when demand exceeds supply, prices tend to rise. Moreover, as the coin becomes rarer, its value increases, just as it does with gold.
Similarly, Bitcoin popularized mining by using the same strategy to secure its blockchain. However, due to industry consolidation and professionalization, bitcoin mining with a GPU (Graphics Processing Unit) has become challenging.
Therefore, small miners must join larger pools to earn substantial payouts.
Some cryptocurrencies are mined using mining equipment, consisting of Application-Specific Integrated Circuits (ASICs) optimized for mining a particular cryptocurrency.
Due to this, if you do not consistently upgrade your ASIC miner to the current version, you may not receive rewards for the same cryptocurrency as other skilled miners.
Terminology Used in Cryptocurrency Mining
- GPU: A GPU is intended to render a three-dimensional design. GPUs are more capable of generating estimates than CPUs.
- Hash Rate: A miner can try multiple guesses for a block’s hash.
- CPU: A CPU is the heart of a computer, where information is processed for the commands it receives. Further, this is the cheapest method of mining cryptocurrency.
- Mining Rig: Mining rigs are primarily used to increase a miner’s hash rate because they combine CPU, GPU, and ASIC chips.
- ASIC: An Applied-Specific Integrated Circuit is a chip designed for a particular purpose for mining cryptocurrency. While they consume a lot of power, they are one of the best ways to mine.
- Proof of Work: The security of any cryptocurrency depends on the existence of proof of work. However, Crypto networks are challenging to cheat since it makes them very expensive. Therefore, a majority of blockchain networks make use of proof of work as a security feature.
How to choose the best Cryptocurrency to mine in 2021?
Number of exchanges accepting the coin
You must verify the cryptocurrency exchange support before you start mining cryptocurrency. If less popular exchanges support a cryptocurrency, withdrawals can be made exclusively to the exchanges’ internal wallets.
The miner does appear to be successful in this situation. Still, the miner must pay a high commission to a non-recognized exchange to withdraw the cryptocurrency since these exchanges work with shitcoins and require high fees.
Make sure it is legitimate.
The mining of cryptocurrency has not been legalized and is outright forbidden by certain governments. Therefore, it is better to avoid danger if your country does not permit illegal dealing. In other countries, authorities allow cryptocurrency trade with a high degree of secrecy because they are ideal for money laundering. Trading is the best alternative if you cannot mine a coin in your current location or country.
Evaluation of long-term use of purchased equipment
To mine coins, you need to evaluate the long-term use of the mining equipment.
Withdrawing to fiat is an option.
Each trading site charges a fee for converting newly produced coins into currency. You can also buy well-known tokens such as Bitcoin, Ethereum, or Ripple.
Best Cryptocurrency to Mine Using GPUs (2021)
As of now, Bitcoin is the largest and oldest cryptocurrency in the world. Although it is not the most optimal Cryptocurrency for mining, it does have advantages. So it’s understandable that people are curious about the best cryptocurrency to mine. So what are the best cryptocurrencies to mine that offer exceptional returns?
We conducted extensive research to determine which cryptocurrencies are most profitable to mine.
Take a look at some of the most remarkable cryptocurrencies to mine, which will allow you to multiply your investment within a few months. Additionally, we’ve compiled a list of the top 11 cryptocurrencies to mine in 2021:
Vertcoin is a good choice if you’re looking for the best coin to mine. The Lyra2RE proof-of-work algorithm is used to verify transactions in this cryptocurrency. The cryptocurrency is also resistant to ASIC mining and is classified as a GPU-minable coin.
Vertcoin encourages miners to use a proof-of-work (PoW) process called Lyra2REv3 that resists the use of ASICs. Having ASIC resistance means that VertCoin’s creators want it to be more evenly distributed by allowing anybody to mine it and not relying on centralized ASIC mining businesses or pools.
Vertcoin’s ASIC resistance suggests that its founders did not impose mining limits on the coin. As a result, there was a greater chance of this Cryptocurrency being distributed fairly throughout the world without being censored by ASIC mining businesses and pools.
Bitcoin was the basis for the cryptocurrency’s launch in January 2014. It has a similar block time (2.5 minutes) to Litecoin and a maximum coin supply of 84 million coins.
Vertcoin can be mined with a GPU by downloading One-Click Miner from the Vertcoin website. Additionally, you can download the Vertcoin wallet from the same website to store your mined VTC.
There are two pools named Network 1 and Network 2 that are dependent on processing power.
For graphics cards with more than two slots, choose Network 1; if you have two or fewer graphics cards, select Network 2. Make sure you keep in mind that this coin is compatible with NVIDIA and AMD graphics cards if you choose Network 1.
The primary aim of RavenCoin’s mining is to decentralize its mining, making it one of the most profitable cryptocurrencies to mine. George R.R. Martin named it after the blackbirds that inhabit his fantasy world of Westeros.
Ravencoin is a GPU-friendly cryptocurrency. Its primary goal is to decentralize mining. Thus, anyone with the proper mining setup can mine RVN efficiently at home. The cryptocurrency uses the KAWPOW algorithm.
The cryptocurrency has been around since January 3rd, 2018. (On the ninth anniversary of Bitcoin). Payments can be made seamlessly and quickly with cryptocurrencies. The coin’s creators released fantastic features in 2019, including messaging, a mobile wallet with a seed phrase, increased interoperability and voting.
Ravencoin is based on the Bitcoin protocol. However, unlike Bitcoin, Ravencoin allows project owners to create and transfer assets and sub-assets. It also has a one-minute block period and a 21 billion currency supply.
RavenCoin’s key objective is to create a blockchain that is optimized for asset transfers between individuals. It is recommended for miners due to its use of the X16R algorithm and KawPoW protocol.
It is similar to Ethereum and Bitcoin in terms of asset transmission. RavenCoin has a supply of 21 billion coins and a market valuation of more than $135 million.
Litecoin is a free software project that utilizes the MIT/X11 license. Created by the open-source community in October 2011, this type of cryptocurrency is decentralized and peer-to-peer. Therefore, it is technically equivalent to Bitcoin.
A popular Bitcoin hard fork called Litecoin (LTC), this cryptographic asset has broad appeal and robust features. As a result, it is consistently ranked among the top ten most profitable cryptocurrencies, and for a good reason.
Litecoin mining will never be a mistake since it is a trusted cryptocurrency used by many users. It also utilizes the SCRYPT protocol, eliminating the need for ASIC devices and enabling GPU mining.
In addition, it is less volatile than other altcoins, making it easy to exchange across a variety of platforms. Furthermore, it is a fast cryptocurrency with low transaction costs.
LTC mining uses the Scrypt algorithm and is one of the most profitable cryptocurrencies to mine. Scrypt is used as the hashing function, and until August 2023, every Litecoin miner will receive 12.5 LTC for every block they mine. A total of 66.8 million LTCs have been mined out of 84 million possible as of January 2021.
The Zcash coin was designed to resist ASIC mining, making it difficult for miners to mine it. Founded in 2016, Zcash is a cryptocurrency.
ZCash’s development company places a high focus on anonymity, making it an ideal cryptocurrency to mine. However, despite its ASIC-resistant design, ZEC mining is challenging.
Zcash evaluations provide information about its long-term viability since its value is less volatile than other cryptocurrencies. In addition, Zcash has more privacy features than other cryptocurrencies.
Many traders choose it because it is an easy altcoin that is easy to trade. Additionally, the commissions here are relatively reasonable.
Zcash is classified as an easy cryptocurrency to mine due to its algorithm, which enables it to be mined using a GPU.
It is still a lucrative prospect for those ready to take a long-term view due to its stability.
There is currently a mining incentive of 2.5 ZEC per block, and the maximum supply is 21 million coins, which will be mined by 2032. However, the Equihash algorithm requires a lot of RAM to mine.
Metaverse is a blockchain-as-a-service (BAAS) platform that uses a China-based cryptocurrency.
The Blockchain serves as an infrastructure for organizational and social needs by offering digital identities, assets, properties, and oracles.
The mining of this cryptocurrency is an excellent way to profit. By quickly converting your ETP winnings into other cryptocurrencies, you increase your chances of earning more money.
Dogecoin cryptocurrency was created for amusement by Billy Markus, and it contains a dog symbol. The cryptocurrency is way ahead of the altcoin boom, which has shattered countless records and shows no sign of abating.
The primary function of this cryptocurrency is to store value and process transactions.
As of May 2021, the price of it had risen to usd0.558, up from usd0.00026 at the end of December 2020. As a result, daily trade volumes have increased, and the coin’s market capitalization has risen to a record high of 93.38 billion. Incredible!
Due to the coin’s lack of a supply limitation is not considered a hedge against inflation.
Litecoin uses the same Scrypt technology as Doge, allowing you to add the currency to your portfolio without purchasing expensive machinery.
It does not mean you should mine this coin on your computer or laptop. Instead, to ensure its efficient performance, you can use a GPU/CPU.
CudaMiner, Cgminer, and GUIminer are some of the best applications for mining dogecoin with a GPU. Whereas, if you’re mining this coin with a CPU, you should utilize the CPUminer.
It uses the RandomX algorithm for hashing. Built on the CryptoNote system, it emphasizes the importance of equity in crypto mining.
Monero is a privacy-focused cryptocurrency that is based on the CryptoNote protocol and uses the RandomX hash function.
BitMonero was created in 2014 by a user on Bitcointalk with thanks for today. Later, the community changed its name to Monero.
Mining Monero, a cryptocurrency with less than $3 billion in market capitalization, is widespread. Like Verticoin, it is ASIC-resistant and ranked 14th in the cryptocurrency market.
Like Vertcoin, XMR is also resistant to ASICs, making it one of the few cryptocurrencies mined with a GPU at home.
Downloading and configuring the software is also accessible after purchasing the hardware and wallet.
The great thing about this cryptocurrency is how simple it is to set up a mining rig. Purchase mining hardware and a wallet, and you’re ready to go.
Additionally, this cryptocurrency’s block period is two minutes, but the maximum supply is not specified.
Ethereum Classic (ETC)
Ethereum Classic is a cryptocurrency that aims to preserve the original design of the Ethereum blockchain. It was launched in July 2016 and has since become one of the most magnificent cryptocurrency platforms available. The company is currently valued at more than $13 billion.
The Ethereum Classic hard fork attempts to preserve the Ethereum blockchain in its entirety. The Ethereum Classic blockchain also supports a decentralized application and smart contract. ETC began operating in July 2016.
The cryptocurrency recently set a limit on the total number of coins at 210 million.
On the list of top cryptocurrencies, it is ranked 16th. EtcHash is a fork of Ethereum’s Ethash mining algorithm that supports decentralized applications and smart contracts.
Bitcoin’s EtchHash mining method is a modified version of Ethereum’s Ethash mining method. As a result of the Thanos upgrade, GPU miners gained access to more resources. This allows miners who have 4GB GPUs or 3GB GPUs to mine ETC. ETC developers will kill Thanos in November 2020.
You can easily mine this Cryptocurrency by purchasing a wallet and a graphics card that supports it. Furthermore, this crypto has a faster block time than others, which is approximately 13 seconds.
For mining ETC, you’ll need a wallet that supports the currency and one or more graphics cards. After that, install mining software like GMiner and configure it. Once you’re finished, your rig will begin mining ETC on your behalf.
Miners are attracted to grin because it does not have a finite supply. Its market capitalization is $66.87 million, and its circulating supply is 72.54 million.
The grin was developed in 2019 and allows cryptocurrency users to mine cryptocurrency without spending a lot of money. Additionally, this Cryptocurrency has chosen Cuckoo cycle mining to be resistant to ASICs.
Grin’s approach ensures long-term privacy by removing residual transaction data from the network.
Grin is a lightweight implementation of the protocol intended to be more scalable and efficient than other privacy coins.
Bitcoin Gold (BTG)
A discussion of GPU mining would not be complete without mentioning Bitcoin Gold. As it was created to eliminate the need for ASICs, it is one of the best cryptocurrencies to mine on a GPU. In addition to evicting ASIC miners, it also has a low initial investment compared to other altcoins.
This cryptocurrency was created to reduce the miner’s risk. Bitcoin Gold’s inventors intended to limit risk so that investors would not be forced to discard their Antminers if the Cryptocurrency’s price plunged precipitously.
The best part is that you can mine any cryptocurrency you want using your hash power.
The purpose of Bitcoin Gold is to convert that thermodynamic energy into digital wealth. So, if you’re thinking about starting a bitcoin mining operation, go for it!
Dash is a portmanteau of the words “digital” and “currency.” It was launched in January 2014 as Xcoin. Darkcoin was once called Dash before it was renamed in March 2015.
Dash is an open-source cryptocurrency that allows users to spend and transfer money freely. The primary objective of this coin is to facilitate and secure global money transfer operations using PrivateSend and InstaSend.
The coin was created as a fork of Litecoin, which was a fork of the Bitcoin system. The cryptocurrency is also a decentralized autonomous organization that is managed by master nodes (a subset of its users).
ASIC miner Antminer A3 is considered to be the best Dash miner.
Mining this coin in 2021 might be pretty profitable, as it is one of the most promising cryptocurrencies.
You must also consider your mining device’s hash rate, electricity costs, and network range in your region, as mining profitability is highly dependent on these factors.
Haven Protocol (XHV)
The Haven Protocol is a fork of Monero, which means the protocol retains Monero’s privacy features but adds price stability via its synthetic stablecoin, xUSD.
ASIC-resistant CryptoNight Heavy is used by XHV, which is incompatible with Nicehash.
Because of this, you can mine this cryptocurrency at home with the help of a graphics card and mining software. Its creators launched the manner of Haven Protocol in July 2020.
As of March 2021, XHV has a block duration of 120 seconds and a total of about 14.2 million coins in circulation.
Monacoin is a fork of Litecoin created by Mr. Watanabe, an anonymous developer. As its name suggests, it is named after the ASCII character Mona. Mona is a popular internet meme that first appeared in Japan in 2000.
The cryptocurrency Monacoin runs on the Lyra2RE(v2) algorithm and has a 15-minute block time. Additionally, the total currency supply is at 105,120,000.
Because of the Lyra2RE(v2) algorithm, MONA is one of the best cryptocurrencies to mine with GPUs.
A GPU-compatible coin can be mined similarly to other coins. However, you will need to download and configure the mining program when purchasing an exchange wallet and a graphics card.
Several merchants accept the coin in Japan since it was launched in 2013.
The beam is another cryptocurrency that can be mined at home utilizing a GPU with at least 4GB of memory.
Beam Hash III is a modified version of the Equihash (150,5) PoW mining technique. Additionally, it utilizes the blockchain technologies Mimblewimble and LelantusMW. The beam was founded in 2018 by the team behind it.
Beam’s maximum currency supply is 262,800,000, and its block time is approximately one minute.
You can get mining software compatible with NVIDIA and AMD graphics cards on the Beam website. Simply download and configure this software to begin mining BEAM.
Aeternity, another famous GPU-mineable cryptocurrency that was launched in 2016, was created by Yanislav Malahov. Aeternity uses proof of stake and proof of work consensus procedures.
The Cuckoo Cycle is a proof of work algorithm that is ASIC-resistant and energy-efficient.
To mine AE with a GPU, you’ll need a card with at least 4GB of memory and mining software. After that, configure it so that you begin receiving AE in your wallet.
The main block of the Aeternity blockchain is generated every 180 seconds. Furthermore, the project’s developers have not specified a maximum coin supply.
Simply because you can mine a particular cryptocurrency with a GPU does not mean you should or that you will be able to do so profitably.
Conduct research to gain a better understanding of the cryptocurrency you may mine. Is there a real-world application for this? Is it expanding its user base? Should you immediately hold or sell the cryptocurrency you mine?
Bear in mind that mining bitcoin carries risks, as the value of the cryptocurrency you are mining can vary significantly. Therefore, never invest more than you can afford to lose in mining.
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