12 Easiest Cryptocurrencies to Mine in 2021
Great opportunities for small-scale crypto miners
June 2, 2021
Howdy Howdy! this article is devoted to all the aspiring crypto miners out there!
When first starting out with crypto mining, it can be very tricky to grasp the mining process and get your setup figured out.
With that said, some cryptocurrencies are much easier to mine than others and would be the ideal starting point for beginner crypto miners.
So what are some of the easiest cryptocurrencies to mine?
Let's have a look...
Crypto Mining Explained in 10 Seconds
The term crypto mining means obtaining cryptocurrencies by solving cryptographic equations with the help of computers.
This process involves validating blocks of data and adding transaction records to a public record (ledger) known as a blockchain.
What Are the Easiest Cryptocurrencies to Mine?
There are hundreds of mineable cryptocurrencies in today's market, each with its own unique guidelines, rules and regulations.
Considering that all cryptocurrencies are unique, they all require different approaches to their mining processes.
If you're reading this, you're most likely pretty new to the crypto mining scene.
I'd highly recommend starting with one of these cryptocurrencies in the list as they don't require huge amounts of tech knowledge or a super high tech mining rig to get started.
Here are the 12 easiest cryptocurrencies to mine in 2021...
If you are looking for a mainstream coin that's relatively easy to mine, Ethereum's an easy choice. Ethereum comes with a lighter algorithm that tends to be a lot easier for the miners.
Unlike Bitcoin, which has this chunky and complicated proof of work algorithm, which makes it such a hassle to mine the coin.
To mine Ethereum, you can use both Nvidia and AMD graphics cards, which gives you better versatility.
All in all, most people wouldn't still consider Ethereum as an easy crypto coin to mine unless when you compare it to other currencies that are highly priced.
Aeon is a relatively new cryptocurrency that most people who are still new to the crypto world haven't heard about. It also happens to be one of the easiest cryptocurrencies to mine.
The best thing about this coin is that it was designed with the ease of mining in mind.
It comes with a light proof-of-work that offers the miners up to three times the average hash rate.
Despite all the odds, Monero is striving for the mainstream levels of use. Thanks to its secure, traceless, and anonymous transactions, the coin has become famous over the years. What's more, miners adore this coin for its ease of mining.
To mine this cryptocurrency, you don't need any particular processors or graphic cards. It's as easy as downloading the Monero mining software to your computer then leaving it to do all the work for you.
Dogecoin has risen in popularity over the last couple of years.
And it would be safe to say you can add the coin to your popular currency portfolio.
Although this coin might still not be worth as much as the other currencies, it's still one of the easiest to mine.
The work is cut out for you, and you can easily mine this currency on your computer's CPU using a CPU miner.
Another one of the easiest cryptocurrencies to mine is Vertcoin.
Vertcoin is now popularly known as the people's coin since it has been designed to cater to small-scale miners.
You can easily mine this crypto via CPU or GPU. This coin is so light on your processor; hence we can safely say it's one of the easiest ones to mine.
Ravencoin is a blockchain network optimized for transferring assets from one owner to another, e.g. B. Token. Ravencoin is a branch of the Bitcoin code.
Its main advantages over Bitcoin is its one-minute block reward time, a change in the number of coins released but not the weighted distribution plan, and the inclusion of asset development and messaging features.
Ravencoin is open source. The Ravencoin KAWPOW algorithm is ASIC-resistant and can be mined with a general consumers GPU.
Grin is one of the latest mineable cryptocurrencies to enter the market, and it comes with huge potential for crypto miners.
In addition, the project developers have gone a step further and programmed a hard fork every six months to minimize the impact of ASICS, which are specifically designed for their network.
Grin supports both CPU and GPU mining. However, if you go for the GPU, buy Nvidia cards as they are considered to be more effective.
Mining Litecoin is quite profitable as it is one of the most successful forks of bitcoin.
It's also easy to trade on many platforms and offers fast and affordable transaction fees.
Litecoin mining uses the SCRYPT protocol, so ASIC mining is not required.
It's not that different from Ethereum, but it has unique properties. Metaverse wants to include the creation of digital assets.
They want the platform to work with their own oracles that they will create. Metaverse uses the Ethash mining algorithm.
#10 ZENcash (Horizen)
ZEN is an Equihash-based proof-of-work cryptocurrency and is available for mining.
Horizen is a sidechain platform based on a distributed, secure and private architecture.
Horizens native cryptocurrency, ZEN, is mined using the Equihash algorithm and has a total of 21 million pull-out delivery.
ZEN can be mined with GPU cards and ASIC miners (A9 / Z9).
Bytecoin is an anonymity-focused cryptocurrency that was founded in 2012. It was one of the first privacy coins on the crypto markets.
The digital currency is based on CryptoNote technology and uses ring signatures to make transactions non-transferable.
In addition, Bytecoin has been forked several times to update its technology and is one of the easiest cryptocurrencies to mine as a result.
Electroneum is a bit new to the world of cryptocurrencies. Of course, Electroneum's mining topics are also new.
It was created in 2017 when the team behind it carried out an Initial Coin Offering (ICO) to raise money for the development of the project.
The idea driving Electroneum is to make cryptocurrencies available to everyone.
Why You Shouldn't Mine Bitcoin as a Beginner
As I'm sure you're aware, mining isn't exclusive to just Bitcoin. There are hundreds of other mineable cryptocurrencies available. A few reasons why you may consider mining a cryptocurrency other than Bitcoin is:
Competition - Mining Bitcoin is highly competitive, and unless you're an experienced miner with a perfect mining setup, you might find it extremely difficult to make any profits.
Difficulty - Bitcoin has a chunky and complicated proof of work algorithm, which can make it a hassle to mine the coin.
ROI - Due to the highly competitive nature and difficulty of mining Bitcoin, you may only see meagre returns on your investment. Some other cryptocurrencies are easier to mine, especially when starting out.
GPU vs. ASIC Mining
ASIC computers are solely designed to mine cryptocurrency and are completely useless for anything but crypto mining. This obviously means they are far more efficient at mining cryptocurrency than your standard GPU.
Mining with ASIC computers carries more risks than GPUs, but it is much more profitable.
ASIC computers comprise most of the mining power in most blockchains. Some miners and mining pools with the largest ASIC operations tend to centralize mining power on the network.
For this reason, Ethereum and many other cryptocurrencies were developed to prevent ASICs from being mined on your network.
Kraken is one of the most traded exchanges in the crypto markets with extremely low trading fees of 0.05%-0.25%. The high volume and liquidity at Kraken means you can enter and exit trades quickly and capture margins instantly with slippage. Kraken is the best exchange for high-speed crypto trading!
Crypto Mining in a Nutshell
Crypto mining in 2021 has its unique advantages and disadvantages...
While mining cryptocurrency isn't as profitable as it used to be due to a highly competitive market, you can still earn a great amount of passive income.
Furthermore, by reinvesting or staking your mined coins, you can earn compounding interest, another form of passive income.
All in all, cryptocurrency mining is in no way a get rich quick deal.
However, by conducting thorough research and finding cryptocurrencies with high potential, you can mine, stake and earn compound interest on a growing asset.
We thoroughly hope you found some value in this article and enjoyed reading it as much as we enjoyed writing it!