Handy Guide to the Best Coins to Mine in 2022
The year 2021 continues the trend of increasing interest in the cryptocurrency sphere from all parts of society. News about crypto is constantly flashing on many forums, news sites, social media, and messengers.
Therefore, it is not surprising that more and more people are wondering about mining. Some are just interested in trying a new type of activity, and some want to improve their financial situation in this way.
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In any case, you will need to thoroughly study the question to determine for yourself the answer to the main question: what is the best coin for mining?
Since 2021 is already coming to an end, we will focus on the best coins to mine in 2022.
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How to choose cryptocurrencies for mining
You don’t need to be a financial genius to understand that not all new cryptocurrencies will increase in price in the future. Therefore, you will not go far if you don’t know what is more profitable to mine now and don’t have a clear plan of action.
For this reason, we recommend that you approach the choice of a digital asset for mining with all due care – simultaneously doing market research, observing trends, and reading expert forecasts. Early signals always accompany an increase in the popularity of a particular coin; the main thing is to recognize them in time.
Modern miners can extract almost any cryptocurrency without any problems. But, of course, some tokens are easier to mine, while others are more difficult. And the profitability of such an endeavor can vary greatly.
If you do not have rich experience dealing with virtual assets, it is safest to stop mining the most popular coins. However, here is what is profitable to mine in 2022:
The list of best coins to mine in 2022
Crypton (CRP) is the main private coin of the Utopia P2P ecosystem. It is the main payment unit in the system, and provides an anonymous and private method for financial transactions. The fact that Crypton is backed by Utopia P2P ecosystem, distinguishes the coin from competitors and puts it in first place in our rating.
*Utopia P2P is a private and anonymous decentralized ecosystem that provides a secure platform for transferring messages and files, browsing the internet, conducting financial transactions, and mining.
Read more about Utopia P2P here.
CRP is based on the blockchain, so no one will be able to track the details of payments or financial transactions. Moreover, there is no available metadata. No other cryptocurrency provides such a level of protection of transactions from tracking. Crypton is a 100% hidden gem that ensures the privacy of users.
For mining, you need to download the ecosystem, go through the simple, anonymous registration, and install a special bot that will automatically accumulate Cryptons to your electronic wallet. Also, there are special Proof-of-Stake rewardsthat add to each user’s Minimum Monthly Balance.
You can find more benefits of Crypton privacy coin here.
Crypton mining is an eco-friendly mining method that does not pollute the environment. You only need a computer and the internet to start. It does not require high power consumption or use a large amount of memory.
Crypton and U USD (Utopia USD Stablecoin) are supported by various cryptocurrency exchanges, including the internal Utopia Crypton Exchange, where you can exchange, sell, or withdraw the mined Cryptons. A guide on Crypton Exchange can be found here.
Ethereum (ETH) is the second largest cryptocurrency by market capitalization, but the most important thing for us is that it can still be mined at home until Ethereum switches to PoS. Mining it will require a powerful graphics card and patience.
Currently, Ethereum uses the Ethash mining algorithm. For practical purposes, this simply means that Ethereum is moderately resistant to ASICs. This means that ASICs created for BTC mining will not be effective for Ether.
Mining ETH is a relatively simple process. The first step is to download the blockchain from the official website to create your wallet. After that, set up your wallet for mining by changing a few settings on your node.
Note that the top consumer-level graphics cards from the latest generation of NVIDIA – RTX 3090 and RTX 3080 – produce 125 MH/s and 100 MH/s, respectively. Therefore, each card can bring you from $9 to $11 per day.
Dash may not be as popular as Ethereum, but it clearly looks more attractive than many competitors in the market in the context of mining. Dash fully corresponds to the main conditions of profitable production: it gradually increases in price, does not sink to critical levels, and quickly recovers after fluctuations in the market.
The currency’s market capitalization exceeded $2 billion, which indicates the stability and sustainability of the project. However, it is still a relatively young coin with great potential.
Due to the above advantages, it is rightfully considered one of the most profitable options among miners, at least at the moment. If you now seriously invest in the production of Dash, you can get a good income. The Dash works on the X11 mining algorithm.
Note that to achieve such indicators, serious computing power will be needed. However, if you can afford it, then the question of which cryptocurrency is profitable to mine now has been resolved.
Bytecoin (BCN) is another altcoin that is easy to mine on a home computer. Solo mining has been specifically designed to simplify the process for Bytecoin users. All you have to do is download the Bytecoin wallet and run the program on your computer. After the program is synchronized with the Bytecoin blockchain, create a wallet for yourself. Then just enter the mining start command and specify your wallet address as the recipient.
Solo mining works on the Bytecoin network, but the process is naturally lengthy and may not bring much income. To increase it, you can join a mining pool that supports CPU mining. A good example is bytecoin-pool.org. You will also need to download compatible mining software, such as XMRig.
It is also possible to mine Bytecoin using GPUs. To mine in this way, you will need to download software compatible with GPU mining. Although the setup process here is more complicated than mining with a processor, it will really speed up the process.
The Vertcoin project was founded in order to give the crypto community the most desirable thing – absolute decentralization. The developers refused to hold an ICO and collected the necessary investments for the start. To date, the coin is not in the TOP 100 of the capitalization rating, but it has every prospect of becoming a leader.
The developers position themselves as volunteers who have taken on an important mission – to return decentralization to mining. The cryptocurrency uses revolutionary algorithms that prevent mining on ASICs and the centralization of mining by large data centers.
The creators of the project made sure that mining was easy for all categories of the population and released a “one-click” miner program for cryptocurrency. “One-click mining” is not much of an exaggeration, and thanks to the official client, even a beginner can start mining Vertcoin.
The SegWit protocol was also updated on the network, which allowed it to significantly reduce the block size, solve the scalability problem, and prepare the ground for introducing several levels of the blockchain and further improving the system.
The Dogecoin project appeared as a joke, but managed to gain popularity that many “serious” cryptocurrencies would envy. The coin was introduced in 2013, and in 2020 it entered the top 20 cryptocurrencies by capitalization. Low entry threshold, easy mining, fast transaction speed and meager fees – all this describes Dogecoin.
The final issue of the coin is not limited. Initially, it was planned to issue 100 billion coins, but taking into account the fact that more than 98 billion have already been mined in a year, the developers decided to remove the restrictions and an increase in coins of 5% per year; that is, 5 billion coins can be mined annually.
The coin uses Scrypt hashing on the POW algorithm. The competition among miners is not too big here, but the total hashrate on pools is not very high. Given the method of reaching consensus, it can be concluded that a fairly high hashrate of the farm will be required for good earnings.
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