If you are familiar with cryptocurrency mining then you may also know people make huge incomes from crypto mining. And there is no doubt you may have an idea to mine crypto for getting extra income. But choosing a cryptocurrency to mine from thousands of available coins is not an easy task. But if you already have the basic knowledge of crypto mining then finding a cryptocurrency to mine is not a difficult task anymore.
The mining performance and amount of profit do not depend only on the type of mining and computer hardware specification but also depends on the cryptocurrency chosen for the mining.
But don’t worry you do need not to take any tension of choosing the best cryptocurrency to mine. We have done this research for you. In this article we have collected the information about the top 5 profitable cryptocurrencies that can you mine for extra income. Keep reading this post to know about these crypto coins:
Top 5 Cryptocurrencies To Mine For Extra Income:
- Bitcoin
- ZCash
- DigiByte
- Grin-CT32
- RavenCoin
Let’s see why these cryptocurrencies are the best selection for crypto mining.
1. Bitcoin (BTC)
The first cryptocurrency on our list is the world’s largest cryptocurrency Bitcoin (BTC). Currently, Ethereum has the second largest market capitalization of $363.58 Billion. You can mine Bitcoin to earn money from this cryptocurrency, but before choosing BTC to mine you should have a large investment to spend on the mining hardware setup. Bitcoin mining also needs huge power consumption to mine. Once you have all the necessary resources you can go for it.
Here is detailed information that can help you to choose this cryptocurrency before deciding to mine.
Nonspecific Indicators
| Current Mining Reward | 6.25 BTC/Block |
| Number of Blocks | 756,233 |
| Block Time | 10 minutes 4 seconds |
| Profit/Day | $7.24 |
The profit is calculated for 140.00 TH/s with a power consumption of 3010.00 and might change according to the price evolution.
Technical Indicators
| Algorithm | SHA-256 |
| Hashing Function | SHA-256 hash |
| Network Hashrate | 140.00 TH/s |
| Options to Mine | GPU, CPU |
2. ZCash (ZEC)
The second coin on our list is ZCash (ZEC), launched in 2016 the coin has strong privacy along with it. The company developed ZCash (ZEC) mainly focuses on privacy. ZCash (ZEC) is designed with ASIC resistance and can’t be mined with ease. If you planning for the long term then this is a great coin for mining selection.
Nonspecific Indicators
| Current Mining Reward | 2.50 ZEC/block |
| Number of Blocks | 1,584,739 |
| Block Time | 1.15 minutes |
| Profit/Month | $102.24 |
The profit of ZCash is calculated for 135 MH/s with a power consumption of 1420W and in the future might change according to the price evolution.
Technical Indicators
| Algorithm | Proof-of-Work |
| Hashing Function | Equihash |
| Network Hashrate | 8.84 GH/s |
| Options to Mine | GPU, CPU |
3. DigiBytie (DGB)
DigiBytie (DGB) started in 2014 is an open-source blockchain and asset creation platform. Currently, DigiBytie is using 5 different algorithms to improve security and integrity. DigiBytie is hard-capped at 21 billion coins. This coin restricts the ASIC miners from getting too much power over the network and allows SHA-256 mining. DigiBytie network is built on 3 layers system including a smart contract, a public ledger, and the core protocol featuring nodes communicating to relay transactions. This coin is also best-suitable for mining.
Nonspecific Indicators
| Current Mining Reward | 464.81 DGB/Block |
| Number of Blocks | 14,633,694 |
| Block Time | 1.15 minute |
| Profit/Month | $216.30 |
Technical Indicators
| Algorithm | Proof-of-Work |
| Hashing Function | SHA-256, Skein, Qubit, Scrypt, and Groestl |
| Network Hashrate | 50.35 PH/s |
| Options to Mine | ASIC, GPU, CPU |
4. Grin-CT32 (GRIN)
Another coin is GRIN, launched in 2019 this coin is opposed to Bitcoin and it doesn’t have a limited supply like Bitcoin. GRIN coin developers implemented Cuckoo Cycle mining in order to be ASIC-resistant and it also allows crypto users to mine this coin without having any huge investments.
Nonspecific Indicators
| Current Mining Reward | 60 GRIN/Block |
| Number of Blocks | 1,639,185 |
| Block Time | 1 minute |
| Profit/Month | $21.60 |
Technical Indicators
| Algorithm | Proof-of-Work |
| Hashing Function | Scrypt |
| Network Hashrate | 375.53 TH/s |
| Options to Mine | GPU, CPU |
5. RavenCoin (RVN)
Launched in 2018 RavenCoin is also a good choice for mining selection. It is launched as a result of the Bitcoin hard fork. This coin is also famous for its features like a mobile crypto wallet. RavenCoin is currently being traded on many exchanges which makes it a highly liquid coin. You can also choose this coin for mining purposes.
Nonspecific Indicators
| Current Mining Reward | 2,500 RVN/Block |
| Number of Blocks | 2,172,669 |
| Block Time | 59 seconds |
| Profit/Month | $25.98 |
Technical Indicators
| Algorithm | Proof-of-Work |
| Hashing Function | KawPow |
| Network Hashrate | 3.99 TH/s |
| Options to Mine | GPU, CPU |
I am Pawan Kashyap currently living in Amritsar. I always try to grab new things from the cryptocurrency market. From my observations and trends in the market, I always try to provide the best and accurate information in the form of articles from this blog. Follow us on Facebook, Instagram, and Twitter to join us.
