Are you wondering which cryptocurrency to mine in 2020? Do you want to know whether crypto mining will be profitable in the coming months? If you’re into crypto mining and want to know which coin to mine in 2020, this post might help you.
Unlike gold mining, cryptocurrency mining is a process through which transactions are verified and added to blockchain digital ledger. Crypto mining is not an easy way of making money but it can be extremely profitable if you invest your resources in the right coin. The crypto coin you choose makes a big difference in maximizing your ROI. The process of mining involves a lot of expenses, so make sure you don’t waste resources on cryptos that are not profitable.
When it comes to choosing the crypto coin for mining, you need to consider a few things. It’s important to look at the price trend of the coin you’re considering. Then you should consider the cost of electricity, the block generation time, and mining difficulty. Also, make sure the coin is legal and check if it’s easily convertible to fiat. Once you’ve conducted thorough research and invested in the right mining equipment, you’re set to make a good amount of wealth through crypto mining. To help you pick the right crypto for mining in 2020, here we’ve listed the best cryptocurrencies that are easily mineable with ASIC and GPU miners. Let’s take a look!
- BITCOIN (BTC)
Bitcoin, the king of the crypto world will continue to dominate the market in 2020 also. This world’s first digital currency is the most trusted coin and ranks first. Despite the recent fluctuations, it’s expected that this virtual currency will be appreciated over the next 12 months. However, due to its market capitalization, Bitcoin mining requires very powerful ASIC miners.
- MONERO (XMR)
Monero is another reliable name in the crypto world. The cryptocurrency is based on the proof-of-work algorithm which means that it is easily mineable. This high-potential cryptocurrency was created in 2014 and leverages CryptoNightV8 proof of work algorithm. The network generates 3.38 XMRs as block rewards every two minutes which makes it lucrative for mining.
- LITECOIN (LTC)
Litecoin is another popular coin that is profitable for mining in the coming months. It was launched in 2011 by an ex-Google engineer Charlie Lee to overcome the drawback of Bitcoin. LTC is comparatively less volatile and can be easily exchanged on a variety of platforms. However, for mining this digital currency, you’ll need powerful computers with more processing units.
- ETHEREUM (ETH)
Next to Bitcoin, Ethereum is the name which is constantly growing in power. Ethereum is a popular coin that is traded at most cryptocurrency exchanges. This coin was introduced the concept of smart contract on top of the blockchain technology. Ethereum ranks next to Bitcoin in terms of total market capitalization. But since it is not a minor digital asset, you’ll require powerful equipment to mine this very coin.
- GRIN (GRIN)
Grin is a relatively new coin in the market which is gaining popularity. It is based on the cuckoo cycle concept and there is no public ledger. This coin is becoming popular because of its unlimited supply.