Bitcoin is the world’s strongest and oldest Cryptocurrency. However, it is not the best Cryptocurrency to mine. You might be thinking, which one is the best coin to mine? Or what are the top cryptocurrencies for mining that can yield extraordinary returns?
Our team has done comprehensive research to find out the most profitable coins to mine. So have a look at spectacular cryptocurrencies to mine through which you can multiply your investment within a few months. We have listed below the 11 best coins to mine in 2022:
1. RavenCoin (RVN)
RavenCoin is one of the most profitable coins to mine, which primarily focuses on transforming mining decentralized. It was named after the small blackbirds in George R.R Martin’s fictional world of Westeros.
This Cryptocurrency was launched on 3rd January 2018 (at the ninth anniversary of Bitcoin). The coin was designed to enable instant payments seamlessly. In 2019, the developers featured this coin with magnificent features such as enabled messaging, mobile wallet with seed phrase, better compatibility, voting with RVN, etc.
The primary objective of RavenCoin is to create a blockchain optimized for the transfer of assets from one person to another. The main reason why it is recommended for miners is that it uses the X16R algorithm and KawPoW protocol.
It is based on Ethereum and Bitcoin in terms of asset transfer. The total coin supply of RavenCoin is 21 billion and a market capitalization of more than $135 Million.
- ROI since launch: 39%
- Algorithm: Proof-of-Work
- Current Price as on May 2021: $0.1634
- Hashing Function: X16R
- Block Mining Reward: 5,000 RVN
2. Monero (XMR)
Monero is a cryptocurrency that uses the RandomX hash function. It is based on the CryptoNote protocol holding the utmost significance of equity in mining crypto.
Monero is one of the top cryptocurrencies to mine in 2021, with more than $3 billion in market capitalization. It is ranked 14th in the cryptocurrency market list, which is also ASIC-resistant, similar to Verticoin.
The best part is that it is easy to set up a mining rig for this crypto. You just need to acquire the mining hardware along with the wallet, and you are all set to configure it.
In addition, the block time of this crypto is 2 minutes, whereas the maximum supply is not mentioned.
- Current Mining reward: 2.15 XMR/block
- Algorithm: Proof-of-Work
- Current Price as on May 2021: $456.56
- Hashing function: CryptoNightR
- Network Hashrate: 1.86 GH/s
- Number of blocks: 2,272,762
Also Read:How to Make Money with Bitcoin
3. LiteCoin (LTC)
Litecoin is an open-source software project released under MIT/X11 license. It is a peer-to-peer cryptocurrency established in October 2011. Technically, it is identical to Bitcoin.
Mining Litecoin will never be a wrong decision as it is a robust cryptocurrency used by a comprehensive range of users. Furthermore, it uses SCRYPT protocol which means you need not buy ASIC chips; and can easily be mined with the GPU.
Besides, it is less volatile than other altcoins, making it easily exchangeable on a wide array of platforms. Furthermore, it is a high-speed coin with lower transaction fees.
- ROI since launch: 743.42%
- Algorithm: Proof-of-Work
- Current Price as on May 2021: $359.08
- Hashing Function: Scrypt
- Block Mining Reward: 12.5 LTC
4. Ethereum Classic (ETC)
Ethereum Classic is a cryptocurrency aiming to maintain the original Ethereum blockchain. This spectacular crypto platform was launched in July 2016. Currently, it is having a market capitalization of more than $13 billion. This Cryptocurrency recently applied a cap on coins supply to 210 million.
It stands at 16th in the list of top cryptocurrencies in the world. Ethereum Classic is a modified version of Ethereum’s Ethash mining algorithm called EtcHash, supporting the DApps and Smart Contracts.
It is pretty simple to start mining this Cryptocurrency just by acquiring the wallet and a graphic card supporting this Cryptocurrency. In addition, the block time for this crypto is less than another crypto which is around 13 seconds.
- ROI since launch: 525.52%
- Algorithm: Proof-of-Work
- Current Price as on May 2021: $292.10
- Hashing Function: Ethash
- Block Mining Reward: 3.2 ETC
5. Zcash (ZEC)
This Cryptocurrency was designed with ASIC resistance, making the task challenging for the miners to mine the coins. Zcash was established in the year 2016.
The reviews of Zcash tell us about its long-term sustainability as the value of this crypto is less fragile than other cryptocurrencies. Another good feature of Zcash is that it is equipped with more privacy features than other coins.
Traders usually prefer it as it is straightforward and hassle-free altcoin for trading and selling. Furthermore, the commissions here are very reasonable.
Zcash is categorized under easy coins to mine as its algorithm allows it to be mined using GPU.
- ROI since launch: -99.29%
- Algorithm: Proof-of-Work
- Current Price as on May 2021: $307.11
- Hashing Function: Equihash
- Block Mining Reward: 10 ZEC
Also Read:11 Best Cryptocurrency Apps
6. Grin (GRIN)
Unlike Bitcoin, grin does not have a limited supply which makes it attractive for miners. It has a market capitalization of $66.87 million, whereas 72.54 million are in circulating supply.
The grin was recently launched in 2019, allowing crypto users to mine without large investments. Besides, this Cryptocurrency has chosen to execute the Cuckoo cycle mining to be ASIC-resistant.
- 1. RavenCoin (RVN)
- 2. Monero (XMR)
- 3. LiteCoin (LTC)
- 4. Ethereum Classic (ETC)
- 5. Zcash (ZEC)
- 6. Grin (GRIN)
- Summarizing Crypto Mining on Android Phones
- Is It Profitable to Mine Cryptocurrencies on a Laptop
- Mobile Crypto Mining: How Can You Mine Crypto on Your Phone?
- Start Mining Cryptocurrency on Your Android Phone
- Steps to Install MobileMiner on iPhone and iPad
- See How Much You Will Earn by Mining Cryptocurrency on 65+ iPhones
- Use the only legitimate mobile miner
Summarizing Crypto Mining on Android Phones
Thanks to the recent advancements in the crypto-industry, you can mine any cryptocurrency on your Android phone now. I have detailed my process of crypto mining on PC and phone as well.
Let me quickly summarize it for you.
- Select a cryptocurrency (I’ve chosen Monero)
- Create a crypto wallet (using GUI Wallet by GetMonero)
- Download the mining rig (XMRig in my case)
- Install ‘termux’ app on your phone
- Enter commands given above
- Start crypto mining on Android
And you can choose from a variety of crypto mining apps for Android, from MinerGate to NicheHas. In this experience, I have mined 0.000005 Monero. But it depends on your device’s hash rate and many other factors as well.
Is It Profitable to Mine Cryptocurrencies on a Laptop
Profitability always depends on a hash rate, the possible number of operations per second. Therefore, you need to know the total hashrate of your laptop to calculate whether mining will be profitable.
We’ve already explained the basics of Bitcoin hashrate.
For example, a laptop has the following characteristics:
- Video card GeForce GTX 1660 Ti.
- Intel CPU i7-9700.
- The cost is $1200.
Power and hash of the Intel CPU i7-9700 for different algorithms:
- on the CryptoNightR algorithm: hashrate of 0.35 kH/s, power 65W,
- on the RandomXmonero algorithm: hashrate of 4.08 kH/s, power 65W.
The relative profitability is $0.24/day, the profit at the cost of electricity of $0.1 will be $0.08. ROI: 15,000 days or 41 years.
If you simultaneously use a processor and a video card for mining on a laptop, the profit will be $0.42, and the payback period is 2857 days or about eight years.
These calculations are approximate, but they show that if mining on a laptop will be profitable, then the investment will pay off only after many years. It is better to make a rig from video cards or a farm from ASICs.
The main costs are electricity charges. At the cost of electricity of $0.01, the total profit is already $0.75 and an ROI of 1600 days or four years, with the cryptocurrency exchange rate unchanged.
Mobile Crypto Mining: How Can You Mine Crypto on Your Phone?
So, just how hard is it to make a few coins mining cryptocurrency on your mobile device? Well, it depends on a lot of factors. Basically, you are not going to be lucky with Bitcoin.
The recent rise in the value and popularity of Bitcoin has made it one of the most attractive targets for many crypto miners. It means that competing with people who own some of the most expensive mining rigs while you depend on a mobile phone can be difficult.
At the time of publishing this article, one Bitcoin was worth approximately $8,209. Every Bitcoin comprises three essential parts; a 64-bit address, a public key, and a private key that is used to unlock the address.
Furthermore, Bitcoin features a hard-coded cryptocurrency unit limit of 21 million. The problem is that even the most powerful mobile phone out there may take several months to generate a fraction of a Bitcoin.
Start Mining Cryptocurrency on Your Android Phone
To start mining cryptocurrency on your Android phone, you need to install an Android miner. For that, choose Termux or install MinerGate. The latter has been banned from PlayStore for violating Google’s policies. But you can still install it without worrying.
After you install Termux, enter these commands to start mining:
pkg install upgrade apt install git apt install wget apt install proot termux-setup-storage git clone https://github.com/neo-oli/termux-ubuntu cd termux-ubuntu chmod +x ubuntu.sh (optional) sh.ubuntu.sh (optional) ./start-ubuntu.sh (optional) apt update apt upgrade git clone https://github.com/xmrig/xmrig cd xmrig mkdir build cd build cmake-dwith_wloc=off_ make
You can find the commands here: https://textsharing.com/2/
After that, you must have started mining Monero on your Android phone. Now is the time to answer the most frequently asked question about crypto mining on phones.
Steps to Install MobileMiner on iPhone and iPad
Step 1: First, you need to download MobileMiner’s IPA file from our downloads section.
Step 2: Now you need to download and run Cydia Impactor on your PC or Mac.
Step 3: Connect your iPhone to the PC/Mac and drag & drop the IPA file to the Impactor pane.
Step 4: Enter your Apple account credentials and click OK.
Step 5: After installation, go to Settings -> General -> Profiles and Device Management and trust the developer profile.
Read also: How to Buy & Sell Bitcoin From iPhone
See How Much You Will Earn by Mining Cryptocurrency on 65+ iPhones
Now you can run the MobileMiner app on your iPhone and mine cryptocurrency on iPhone, iPad or iPod Touch.
Use the only legitimate mobile miner
If you Google mobile cryptocurrency miners, or search for such apps on play stores, you’ll find plenty of them. The sad thing is – almost none of them work. You see, mining is a complex, compute-heavy task, and you basically need a really, really powerful machine to do any meaningful mining. What you’ll find on the app store, in 99.99% of the cases are fakes, fraudulent apps that will trick you to install them just so they could show you an ad or two before you call their bluff and uninstall.
But there’s one miner that actually works, and works well. It’s called Electroneum, and the trick is – your smartphone isn’t actually doing any mining. The app simulates the process of mining on a smartphone, and rewards you accordingly just to keep the app running. It spends a negligible amount of battery, it doesn’t take up processing power and it’s not slowing the phone down – at all. Just let it sit in the background and get paid for it. The app is tried and tested – it’s legit.
It also has a great referral program. If you refer someone, you will be earning 5% of everything that the referred person has mined. Those that have been referred and are using your code will be earning 1% more. So, there’s incentive on both sides to use the referral program.
The app can be found here (Android only for the moment, iOS is in beta), and if you want to earn a bit extra, consider using my referral code, too: 299D24.