First, you need to understand the very concept of “mining”. After all, most beginners who begin to study the intricacies of cryptocurrency often come across this meaning.
Mining is a constant assistance in the computational processes of digital network operations, which is periodically rewarded by cryptocurrency to the computer owner. Miners are rewarded through scheduled emissions, which are nothing more than the production of new coins. But it is also possible to make payments through commissions that apply to computer-recognized payments.
The main condition in the mining process is the installation of the necessary software, as well as, quite often, additional devices specifically designed for mining.
There are several types of mining activities:
Initially, mining could be done using a regular PC, which was equipped with standard and simple equipment with a CPU video card. Launching the process on such a PC was simple; you just had to click on the “get coins” button in your personal wallet.Then, closer to 2010, it became necessary to use higher-efficiency video cards (GPUs) for better performance.
But innovative changes became noticeable when highly specialized ASIC microcircuits entered the mining structure and began to be actively used. This gave rise to the large-scale creation of mining farms that are capable of supporting the computing process of any level of complexity.
But, thanks to the fact that monopolized miners were still present in the market arena in 2018, and moreover, they passed more than 1,500 digital currencies through their monosystems, it became possible to determine which currency is most profitable for mining work this year. At the same time, specifying the level of equipment that is necessary for high-quality production of a particular currency.
But due to the uneven distribution of mined digital money, monopolized mining, during the period of a global approach to cryptocurrency mining, is a dubious source of income.
But even here the monopolistic miners found a way out. In order for the income to be permanent, they create competent societies, called “pools” in their professional language. The income received is ultimately distributed equally among all elements of the pool, taking into account the quantity and quality of the equipment used. There are other distribution methods that are agreed upon by mining participants in advance.
In the last few months, the cloud approach has also established itself in the field of mining. This method involves renting mining equipment from large organizations. Initially, investors select the most profitable currency for mining, in their opinion, and then lease the equipment. This approach greatly simplifies the process of earning money, when there is no need to look for premises yourself, meet and establish contacts with government officials, and most importantly, spend money on purchasing and setting up numerous equipment.
Bitcoin mining today. Is it worth it?
Almost every person today is directly or indirectly familiar with Bitcoin. Due to its popularization, mining of this currency has received impressive investments. If we take the whole world as a whole, then worthy competitors are mining farms that are located in areas with a relatively low cost of electricity and a temperature regime that will contribute to the fastest cooling of continuously operating equipment. After the appearance of such large farms, the question of single Bitcoin mining disappeared by itself. Having your own PC installations, and not having cheap and unlimited access to electricity, it is currently impossible to stay in the black by mining Bitcoin. More resourceful miners who live in cold climates make Bitcoin mining doubly useful by using the energy generated from the equipment to heat their homes. But even such multifunctionality requires regular investments and a high probability of their payback. It is worth taking into account the impermanence of Bitcoin, which means there is no guaranteed return of money and time spent.All miners remembered the intense jump in Bitcoin exchange rates in the second half of 2017, which significantly improved the self-sufficiency of cryptomining. But later the cryptocurrency underwent a protracted correction, more precisely since January 2018.
When the Bitcoin rate was at its peak, one coin was valued at almost $20,000, but by the end of winter 2018 the exchange rate had dropped to $6,000. Fiat currency income decreased threefold. And this situation is proof that before entering into confrontation with professional miners, it is necessary to be armed with innovative ASICs, the cost of which is about 100,000 rubles, and this does not take into account additional equipment, which also costs a lot of money. Owners of small capacities take all these aspects into account and delve into the search for other digital currencies, excluding Bitcoin from the expected list.
If you still take Bitcoin as a basis, then cloud mining is suitable, which does not require significant investments, but can please you with good returns.
PC with GPU video card. What can you mine in 2018?
The currency is one of those that can be successfully mined without the use of expensive ASICs. The currency is a corrected version of the Ethereum fork. The development team considered the adjusted appearance to be complete in order to make UBQ more malleable for them and interesting for miners. If we take into account the time it took to create the platform, then the cryptocurrency looks worthy for the mining process using video cards with a moderate memory size. Given this consistency of UBQ, we can conclude that the 2 GB memory size will be in trend until 2027 inclusive. To make it clear how long this period is, it is necessary to note that this memory format for Ethereum has not been possible since July 2018, and Ethereum Classic was replaced in May 2017, and in 2027 for their mining it will be necessary to have a video card on your PC with a memory rating of not less than 8 GB. At the time of the currency’s release, the incentive was 8 UBQ and every year it decreases by 1 indicator. On the graph, this looks like a gradually and invariably decreasing curve - each stage brings with it a twofold decrease. A significant plus in the direction of UBQ mining is a certain uncle-blok, which is not included in the systematization of the blockchain. The miner who managed to form it receives a fee of 50% from the author of the main block.
A worthy representative of digital currencies for use in mining in 2018. Ethereum Classic was born thanks to the sensational hard fork back in 2016. The Ethereum team, after being hacked and stealing quite a lot of funds, decided to return most of the missing amount in a repressive way. After such an incident, the majority doubted the ultimatum of digital processes, namely the irrevocability of their translations. But there were also those developers who were against such measures, and as a result of the confrontation, Ethereum Classic was born. Which became another link in the unique plexus of Ethereum.
The motivation for mining Ethereum Classic in 2018 may be the small size of the blockchain, namely 60 to 175 GB.
A coin quite suitable for video cards. When all the Bitcoin miners in unison made the transition to ASIC, those who remained also unanimously chose Ethereum. But discussions on social networks and forums in 2017, the topic of which was Ethereum, had one vector: confirmations of ownership of PoS (system symbiosis of the intermediate stage) prevail over the indicator of work on PoW. Due to this, the efficiency of the Ethereum mining process will sooner or later decrease, and then completely lose all meaning.
Due to the relevance of video cards that interact well with Ethereum, their purchase does not pose any risk to the user, since further changes in mining positions will not require additions or re-configuration. Video cards can be annihilated to mine any other coin, the algorithm of which corresponds to Ethash and even some other options.
Mining SiaCoin (SC)
Having an ASIC at your disposal and looking at the network calculation, you can immediately highlight this particular coin. SiaCoin unites all fans of cloud data storage, whose virtual disk has extensive empty memory, which can be used at the level of smart contracts. The program has been operating successfully for several years. All necessary calculations are performed using the SiaCoin token. This currency is not profitable when mined using a video card, but when ASIC comes into play, the situation changes dramatically, which is confirmed by network calculations that monitor the process around the world and display true positive results.
The reward for the formation of the first block was equal to 300,000 SiaCoin; when subsequent blocks appeared, it decreased with an arithmetic progression of 1 SC until it stopped at 30,000. Mined SiaCoins are freely withdrawn through numerous exchanges, including the popular Poloniex and Bitrex.
The cryptocurrency was released as an analogue of the world-famous Bitcoin. Its release took place on August 1 and the result was a number of corrections in connection with the paradoxical unrest and inconsistencies that arose over time in the original blockchain. The main transformation is the maximization of block size indicators, which will affect the throughput ability of devices during periods of increased load to free up memory by deleting unused and accumulated transfers. The mother blockchain lacks such flexibility, which created quite a few tense situations in the process of its mining.
The advanced cryptocurrency differs from others in its insignificant commission fee during its transactions.
To ensure that mining remains constant, the correction approach is performed every sixth block, and not in 2016, as was previously the case. Almost immediately after its creation, Bitcoin Cash squeezed into the top dozen ratings of digital money that had a high capitalization rate. Which was another confirmation of the effectiveness of her changes.
Most of the global followers of the traditional method of mining were satisfied with the result of their profits when they tried Bitcoin Cash. And also, most of them decided not to continue searching for a more successful option, but to opt for Bitcoin Cash and mine it on an ongoing basis using small pools and farms.
After the appearance of cryptocurrencies on the global arena, and after them mining equipment, which initially took the form of an ordinary desktop computer, and then a collection of several monopolized miners. As the popularity of blockchain increased in parallel with the value of cryptocurrencies, mining activities became a major investment. They influenced the monopolization of most cryptocurrencies with a high level of efficiency.
But still, mining is continuous, and this proves the anti-cyclical nature of miners on Ethereum and Bitcoin. The latest Coin Market data showed that today there are more than 1,500 types of digital coins in use, more than half of which are involved in mining. Based on this, we can safely say that the grayest scenario can become a masterpiece, thanks to its flexibility and innovative approaches to developing new coins and adjusting old ones.
With the rhythmic development of the situation, mining of advanced currencies will be at the peak of popularity for a long time, while being replenished with new representatives who will also find numerous admirers and investors. The latter, even without large amounts of capital, will increasingly pay attention to cloud mining.
Hi all!
We continue the interesting topic about cryptocurrencies and will talk today ?
Cryptocurrencies have become incredibly popular in the last few years. Nowadays a huge number of people use them. The capitalization of this market is constantly growing.
At the same time, there is constant exchange rate movement and high volatility. Despite the fact that in 2017 few people do not know about cryptocurrencies, not everyone has an idea what to mine now , and due to what, this whole system works and what underlies it.
How does cryptocurrency work?
Digital currency exists and is a huge chain of transactions that has information about all participants and transactions performed in it.
It is thanks to the blockchain that it is possible to make fast and anonymous transactions that are reliably protected from attacks by fraudsters. The commission is minimal.
The cryptocurrency itself is obtained through mining. It is the process of solving cryptographic problems that keeps the blockchain running.
What is mining?
In our country, the issue of mining has recently become very acute; many people rushed to buy equipment in order to mine coins.
Thus, the question becomes relevant: which cryptocurrency is profitable to mine now? To answer this, you need to understand the process itself in more detail.
So, let's start with the fact that all cryptocurrency systems are managed in a decentralized manner, that is, they do not have a single issuer and regulator. These processes are the merit of all users of a particular network created by millions of computers around the world.
The operation is considered completed after it is included in the blockchain. Mining requires large computing power to solve cryptographic problems. These powers are provided precisely by computers located on the network.
It is for this reason that people are buying top-end video cards. The higher the power, the greater the chance of creating a new block of the chain. Creating blocks is rewarded with cryptocurrency and this is the ultimate goal of mining.
Now let’s talk about which cryptocurrencies are profitable to mine during this period and why you shouldn’t touch BTC. Bitcoin is the ancestor of the entire blockchain and all other cryptocurrencies.
The capitalization of this currency exceeds others by tens of times, as does the number of its users. Of course, the BTC blockchain is very complex and requires enormous power to operate.
Mining Bitcoin is undoubtedly profitable, but only if we have the most powerful equipment, for example, a farm.
To start mining cryptocurrency, you need to find a pool. Thus, by teaming up with other network participants, the chances of success increase significantly, and you will be able to receive your reward.
But there is one problem - you will have to share with a large number of “partners”. In the end, the profit may not be very large.
At the same time, small pools can create the opposite situation. The likely profit will be good, but the probability of success is reduced. It is between these two factors that you need to find a compromise when starting mining.
What is the best cryptocurrency to mine?
In 2017 - 2018, Bitcoin and Bitcoin Cash, of course, have very strong positions, but the list of cryptocurrencies does not end there. There are many other currencies on which you can make good profits.
Speaking about which cryptocurrency is best to mine at the moment, let's look at several options that look attractive from the point of view of development, increased capitalization and changes in market rates.
- — compared to btc, the coin has a very small exchange rate, but we know how the market can shoot up. XRP is no exception and has shown tremendous growth over the past 5 months, increasing in price by almost 50 times. In the future, the currency will continue to grow and this is an excellent reason to think about buying it.
- - has a capitalization of about $1 billion and has shown decent growth in recent months - about 1000%. Naturally, you can mine it, because the currency will continue to develop.
- Litecoin is one of the popular “non-bitcoin currencies” that is growing steadily. Its price is currently $47, and it will rise in the near future.
- - for many, this currency turned out to be a “dark horse”, which literally burst into the top cryptocurrencies, both in capitalization, price and volume, and in popularity.
- NEM- is very popular in Japan. In this region, the cryptocurrency market is very developed and attention to this currency cannot be a mere coincidence.
- Stratis— this platform is designed as a basis for the real activities of organizations. It is gaining popularity and can enlist the support of not only ordinary users, but also businesses, which is a definite plus.
- WAVES— is a platform for crowdfunding and the issuance of crypto tokens. Thus, this blockchain has practical applications, which ensures good support and constant growth. At the moment, its capitalization is approaching $400 million.
- Stellar lumens— has a non-commercial protocol and open source. The currency is slowly growing and is preparing for a good jump, and this is a worthy reason to start mining it.
- is a fork of Ethereum that ranks second in terms of market capitalization. The coin is quite reliable and will undoubtedly reach for the “senior” comrade.
- — the closest pursuer of BTC. The currency is stable and showing good growth. At the same time, it is designed to perform many functions, including smart contracts.
The above list is far from complete. On which deserve attention.
When answering the question of which currency is better to mine, you need, first of all, to think about the likelihood of receiving a profit. Don't count on fabulous profits. It is better to start working with developing coins. They can bring profit in the future when their price creeps up or shoots up.
In many ways, mining is a business project that should be carefully thought through and an informed decision made. It is worth studying the current market situation, then identifying the most promising currencies and working directly with them.
BUY BITCOINS
It would be reckless to rely on small forks that are just beginning to grow. However, it is also unlikely that you will be able to make a profit in large Bitcoin pools, which means you need to look for a suitable solution in the middle of the cryptocurrency table.
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Today I saw in a dream which cryptocurrency is profitable to mine. I can’t make it out exactly, but it seems like it. Gentlemen, breadwinners! Put aside the fortune telling cards, tambourine and other occult attributes. Now turn on your logic and get acquainted with this material.
Selection criteria
To choose a crypt for mining, you should consider the following factors:
- Rate – a high coin rate is a sign of great competition. Therefore, in order to mine Bitcoin, you now need equipment of appropriate capacity.
- Reward level – if we consider BTC, then every “four-year period” the miner’s reward for the correct block is divided by two. In 2016 it decreased to 12.5 coins. But this pays off handsomely.
- Rising stars - professionals advise mining coins that cost pennies, but at the same time their rate is on the rise.
- Congestion of the crypto network – the more miners there are, the more load on the blockchain increases. A similar phenomenon occurs with BTC.
To avoid guessing
You and I are people with reason. He won’t guess with coffee grounds or other “brews.” To find out where the most “charming and attractive” crypto is, we will use a specialized service. That's what he calls it - What to mine.
It's simple: enter the parameters of your equipment, select a crypto and see how much you can earn. And the tambourine and other “magic” things can be sold and the proceeds invested in a profitable crypt.
Which cryptocurrency is profitable to mine now? On the one hand, there is no clear answer to this question. But on the other hand, there are still undisputed leaders among mining fans.
It should be noted that for new miners who have just learned, it is difficult to determine which mining will bring profit, therefore, if a person does not have extensive experience working with digital currencies, it is better to focus on the most reliable and proven options described below.
What are the best cryptocurrencies to mine in 2018? The promising leaders today are the following altcoins:
- ZCash
- Monero
- Ethereum
- Ethereum Classic
This list can be supplemented with other altcoins.
For example, in the last few months, the Cardano cryptocurrency, which provides mining based on the Proof-of-Stake principle, has grown. This means that not those miners who have higher capacities, but those who have a large number of Cardano coins, have a much greater chance of receiving a reward for the found block.
Vitalik Buterin, the creator of the Ethereum cryptocurrency, also plans to introduce this Proof-of-Stake principle, instead of the usual Proof-of-Work. When this will happen is not yet known. But due to this news, investors who want to engage in traditional mining are not recommended to spend money on purchasing large farms for Ethereum.
Monero and ZCash operate on the basis of Proof-of-Work technology (the greatest chances of receiving a block reward are those miners who have the greatest computing power), so there are no prerequisites for a fall in the rate of these cryptocurrencies yet, which returns investors to the question of feasibility purchasing equipment for mining.
How much can you earn on a mining farm?
GTX 1070 and GTX 1080, which currently cost around $600-900. The first (GTX 1070) brings in about $70-100 per month for ZCash mining, the second (GTX 1080) brings in $90-130 at the current cryptocurrency rate. Therefore, the profitability of a crypto farm (and, accordingly, earnings from mining) on 6 video cards will be approximately $400-600 per month in the first case, and about $500-800 in the second.
To assemble a simple mining farm on 6 video cards, excluding the cost of the video cards themselves, you will have to spend about another $300-400. Ultimately, such a mining farm for making money will most likely pay for itself in 7-9 months.
A farm with six cheaper video cards (for example, GTX 1050 and GTX 1060 cost about $200 and $300, respectively) now brings in about $250 per month for ZCash mining. Its payback is approximately the same as in the previous version.
The profitability indicators for mining Ethereum, Monero and Ethereum Classic and others on these farms are similar and may differ slightly in one direction or another by a maximum of $25-30 per month, and most often by $5-20.
What must be taken into account when choosing a cryptocurrency for mining?
The fact is that depending on the equipment you have, the mining efficiency for different cryptocoins will be completely different. Some video cards are much more efficient at mining Ethereum, others are more efficient at mining completely different coins.
If you mine not on video cards, but on specialized ASIC equipment, the picture changes again.
How to find the most profitable cryptocurrency for mining?
You can determine the most profitable coin for mining at the moment, which will be the most profitable for mining today, through special services. For example, the popular service Whattomine.com.
On this site or in the bot of the same name, in the telegram.org messenger (Whattomine) you can enter the indicators of your equipment, hashrates, etc. get a list of crypto coins that will bring the most mining income. This way, you can automatically compare in one place how much money mining each of your chosen coins would bring.
But keep in mind that the profitability of mining consists not only of the today’s value of the mined coin. You can also lay down some investment strategy for yourself, understanding that a crypto coin can significantly increase in price over time. Mining and selling everything mined at once is usually not effective and may not be profitable.
It may turn out to be much more profitable to mine a coin in which you now see the maximum prospect of increasing its value in the near future. Therefore, if you are interested in what is most profitable to mine at this particular moment, then the easiest way to determine this is through services like Whattomine.com and various mining earnings calculators, of which there are quite a few on the Internet.
If you estimate what will bring the maximum profit overall, then you need to predict which of the crypto coins has the highest growth potential in the near future. And then, a good strategy might be: mine today what is most efficient to mine today, what will bring the most money today and convert the profits into those coins that you expect to grow the most in the near future or maybe in the long term.
A combination of efficient mining and an effective investment strategy can give you the best results. This is precisely the task of proper investment, the task of a competent entrepreneur - to determine the risks and chances of today and predict what we can count on in the near future.
Of course, there are certain risks that, for example, the cost of the cryptocurrency chosen for mining will not increase. Thus, by using together what works reliably and what can bring high income, but has a higher risk, you can find some kind of individual personal strategy for yourself.
What else should you consider when making money from mining?
There are several factors that influence earnings from cryptocurrency mining. In addition to the correct choice of the cryptocurrency itself, which involves an adequate assessment of the mining algorithm and the requirements for the equipment used, several factors strongly influence the final earnings:
Cryptocurrency rate. The most popular cryptocurrencies for miners recently fell in price along with Bitcoin, but they also began to rise. Most likely, we will observe a correlation with Bitcoin in the future, so now it makes sense to monitor forecasts regarding the exchange rate of not only the cryptocurrencies chosen for mining, but also forecasts for Bitcoin itself.
It is clear that it is also impossible to neglect information about the currencies chosen for mining, since various events can occur in them that significantly affect their rate, but are not directly related to the general dynamics of the cryptocurrency market as a whole.
Any events have a much stronger impact on the value of less popular digital currencies, so their rate can change greatly from any little thing: both internal and general for the entire cryptocurrency market.
Commissions of the mining pool itself. The calculation of earnings from mining was made taking into account the pool commission for mining - 2-2.5%. As a general rule, reputable pool fees rarely exceed these figures and rarely go lower.
Electricity cost. The above profitability was calculated for the CIS countries. Here it is worth considering that in Russia, for example, there are settlements and cities with more expensive electricity costs, in which monthly income could be reduced by $50 because of this, and villages with cheaper electricity, where miners can receive a little more profit monthly .
So that you, dear reader, avoid common mistakes when mining and wasting your money and time, we will answer common questions and give you some useful recommendations.
Is it worth mining Bitcoin on video cards?
Is it possible to mine Bitcoins on video cards? It’s possible, but it’s not worth doing this now. In fact, mining Bitcoin on video cards has now ceased to be effective and cost-effective due to the very high complexity of these calculations.
Due to the low efficiency of Bitcoin mining, you will not even be able to recoup your energy costs, let alone the costs of the equipment itself.
Now Bitcoin is divided into two coins:
- The original Bitcoin, which can continue to be mined using specialized equipment (ASIC miners). The cost of electricity consumption should be taken into account here, since an ASIC can consume up to 2 kW per hour. Let's multiply this figure by 24 hours and 30 days. We get 1440 kW. Let's multiply this by the cost of kW 5.38 rubles (as of January 2018 in Moscow) and we get 7,747 rubles per month. As electricity bills increase, making money from Bitcoin mining is becoming less and less profitable.
- Bitcoin Gold, which showed promise for private miners, since by changing the algorithm, its mining could be done on a PC. But due to technical shortcomings, miners’ hopes were not justified, and Bitcoin Gold mining, which seemed promising back in November 2017, is now unprofitable.
What is better to mine on: Asic or video card?
ASIC miners are developed for a particular blockchain algorithm and they decrypt it several times faster than regular or even gaming video cards, since all their components are designed to work with this algorithm.
Due to this, the energy consumption during mining, spent on obtaining one crypto coin, is greatly reduced. To get the performance of an ASIC miner on a regular farm of video cards, you will have to assemble a farm of several dozen video cards, so its power consumption will be tens of kilowatts.
With the same performance, the ASIC miner consumes only 1-1.5 kW. Professional AICs naturally consume more, but, in general, the ratio of performance and energy consumption cannot be compared with the same characteristics of farms on video cards.
Conclusion: in most cases, ASIC miners are more profitable and cost-effective than farms on video cards.
Get a reliable wallet for storing cryptocurrencies
Since you are reading this article, you already know that with its help you can not only pay for purchases in online stores and all kinds of services online. Now many people are ready to purchase expensive mining equipment, despite the inflated prices, investing quite a lot of money in the expectation of making a lot of money with this help.
Here, as in any other business, you need to approach business wisely so that the money spent pays off many times over and begins to bring significant profits to its owner.
The principle of decentralization of digital money is ensured by the support of the computing power of computers connected to the network. For maintaining operation and processing transactions, users are awarded coins of the selected cryptocurrency. The process was called mining and, with the rising cost of digital money, quickly gained popularity. The question of which cryptocurrencies are more profitable to mine has become relevant.
Best Cryptocurrency for Mining 2017
First, you need to determine the main aspect - identifying the absolutely profitable and best cryptocurrency for mining is not easy. Exchange prices for digital money, with a general upward trend, can vary in any direction during the month. In such conditions, no expert can determine the prospects for making a profit for the whole year.
For the most profitable mining, many analysts give a rating of the capitalization of cryptocurrencies and point to the top 10 digital money. This opinion is based on their relevance and growth trend. You can view the rankings on sites like CoinMarketCap. For clarity, we consider the given cryptocurrencies in order.
Bitcoin.
The first and most popular cryptocurrency, its price increased several times in 2017 and continues to grow. In terms of capitalization, it occupies about 60% of the entire digital money market. Bitcoin mining requires large investments in specialized equipment - ASIC devices.
Bitcoin mining on video cards is no longer relevant due to the industrial scale of its production. In the absence of a large amount of money to create their own farm, they use cloud mining services - investments in renting computing power and making a profit based on them.
Ethereum.
The main alternative to Bitcoin shows high relevance and a growing trend, and ranks second in terms of capitalization. Ether mining is still allowed on the latest AMD video cards, but many say that it is no longer profitable. They indicate a payback of 5-6 months and the dependence of profits on the Ethereum exchange rate.
Bitcoin Cash.
Formed as a result of a fork in the Bitcoin blockchain. Initially the exchange was one to one, then it went down. Many experts are of the opinion that the relevance of this cryptocurrency is supported solely by its connection with Bitcoin.
However, at the moment, Bitcoin Cash has risen to third place, displacing Ripple, and is showing an upward trend. The difficulty of mining digital money data on video cards lies in an algorithm similar to Bitcoin, for which ASIC devices already exist.
The cryptocurrency was developed for fast and secure transactions with minimal fees. Despite the low cost, it showed significant growth - in 2017 the price increased several times, until recently keeping Ripple in third place in terms of capitalization.
Litecoin.
It is considered the main alternative to Bitcoin. The main differences are the total number of coins available for mining has been increased by 4 times and the block formation time has been reduced by 4 times. Taking into account such indicators, cryptocurrency would be a good prospect for mining on video cards if this algorithm were not included in the development of ASIC devices.
A cryptocurrency with an emphasis on anonymity, the algorithm uses several cryptographic ciphers. All transactions go through a separate service, are mixed, divided, and only then distributed among the owners. As a result, it is impossible to track individuality even within the system.
The price of DASH is showing good performance, approaching ether. This factor makes cryptocurrency a good alternative for mining and many users are already switching to its mining.
BitConnect.
The capitalization, value and number of coins are similar to DASH. At the same time, BitConnect shows a more confident growth trend, and in the near future it may change places with the previous cryptocurrency. This aspect serves as a sufficient basis for mining BitConnect.
Eighth place in terms of capitalization, low price per coin and current correction according to the exchange rate. For mining, it is relevant only in the perspective of possible growth. If time and opportunity permit, you can invest in the mining of this cryptocurrency as a long-term investment, but you should not expect significant income yet.
Japanese cryptocurrency, firmly strengthening its position in the country. Used in banking transactions. The low cost of coins and the gradual shift of NEM down the rating do not allow us to talk about efficient and profitable mining. However, if the cryptocurrency goes beyond Japan to Asian markets, its value is guaranteed to skyrocket. Considered as a long-term investment.
Mining Monero allows you to generate income, but you should not expect large sums. The cost of this digital money fluctuates, it is too early to talk about growth prospects - there are too many factors affecting the balance. If there is no more profitable alternative, you can redirect the equipment to Monero mining, but purchasing it specifically for it is not profitable.
New cryptocurrencies for mining
Mining of rated cryptocurrencies determines high requirements for equipment. To obtain a significant profit, you will need to organize a farm with an initial investment of a thousand dollars. Not everyone can afford such expenses, and therefore the question of mining on a home computer or with a small investment becomes relevant.
New cryptocurrencies are suitable for these purposes. Experts point out that, in theory, any digital money can rise in price and take a place in the top 10. The main indicator for this is its relevance and demand.
Choosing a new cryptocurrency to mine requires some analysis. Pay attention to the following factors:
- brand name – all users are guided by an original, interesting and sonorous name for digital money;
- design - a well-designed logo, official website, software - all this determines the external reflection of the cryptocurrency and the potential of its use;
- premine – the developer, before the official launch of the algorithm, can mine a certain number of coins himself, in priority digital money with a zero premine indicator;
- accrual of coins - limited and gradual reduction of the reward for decrypting a block provides an incentive to increase the value of the cryptocurrency;
- encryption algorithm – there are already ASIC devices for Scrypt and SHA-256, you should turn to those digital money, the mining of which is possible at the initial stage without investment.
Having chosen a suitable cryptocurrency, set up its mining. For a month or two, while it brings in a significant amount of coins, they monitor news, stock exchange rates, prospects, and analyze alternatives. As production declines, they switch to new digital money. Existing coins are sometimes held for a certain period of time if there is a tendency for their value to increase.
Not every cryptocurrency will steadily increase in price. Many of them disappear as soon as they appear, some remain unclaimed. Others increase in value tenfold, which creates a good basis for investment and mining.
What will happen to mining in 2018?
Making predictions for 2018 regarding cryptocurrency mining is not easy. With some accuracy, we can say that with Bitcoin and Litecoin you shouldn’t hope for profit without ASIC devices. The broadcast remains questionable - its algorithm is programmed to prevent the development of specialized equipment.
However, Ether mining also loses its benefits. The latest video cards and 6-12 GPU farms are required to recoup the investment and generate a stable income. The development of new GPUs will improve the situation for a short time, but given demand and the current shortage, their cost will be overpriced from the start.
Mining other top cryptocurrencies will bring certain income against the backdrop of rising prices, but it will not be possible to make large profits without certain investments. Individual mining is still allowed on new cryptocurrencies as they become available in 2018. Connecting to large pools will provide small income in promising areas. However, to obtain stable profits, the prospects for 2018 remain with cloud mining and investments.