Cryptocurrency mining is one of the best ways through which individuals can make passive income daily. This is the process by which a distributed node on a particular cryptocurrency blockchain validates transactions sent over the network by other users. These nodes perform a copy of the blockchain that is participating and then by utilizing software verifies the legitimacy of the transactions sent over the blockchain network. Now let’s take a look at the top 5 cryptocurrencies that can yield high profits through mining.
- Ethereum Classic (Etc)– This cryptocurrency is an altered version of EtcHash that supports the Decentralised Applications (DApps) and smart contracts. It is usually mined by obtaining the wallet and a graphic card that support Ethereum Classic. It is very easy to mine this cryptocurrency and the block time required is comparatively lesser than other cryptos, which usually take approximately 13 seconds.
- Metaverse (ETP)– This open-source blockchain platform provides a basic infrastructure for social and enterprise needs. It is possible to become successful by mining Metaverse. You should convert Metaverse ETP Gains into other cryptocurrencies as quickly as to yield higher profits.
- Bitcoin Gold (BTG) – It is one of the best cryptocurrencies to mine with the help of GPU, as it always makes sure to minimize the risk for the miner. This in turn eliminates the need for investors to discard the BTG Antminer even if the price of a cryptocurrency goes down excessively. It is also possible to switch your hash power to any coin of your desire. So, if you are considering mining a cryptocurrency, then BTG is a good option which you would like to give a try.
- Dogecoin (DOGE)– Like Litecoin, this cryptocurrency utilizes the Scrypt protocol, eliminating the need for purchasing costly machines to include Dogecoin in your portfolio. To perfectly mine Dogecoin, you may consider using a GPU/CPU. In addition to that, many software is available for mining this cryptocurrency, which includes CudaMiner, Cgminer, GUIminer, and CPUminer.
- RavenCoin (RVN) – It is considered one of the most profitable cryptocurrencies for mining and pays attention to converting mining decentralized. The usage of the X16R algorithm and KawPoW protocol makes it the most preferred choice of miners. It relies on the most popular cryptocurrencies such as Bitcoin and Ethereum with regard to asset transfer.
With cryptocurrency mining, the user will be able to get access to crypto coins. However, it is advisable that users need to perform comprehensive earnings and investments calculations in advance, before getting started with cryptocurrency mining. In fact, the benefits that crypto mining offers exceed its shortcomings, and so long as your budget matches with what you want to mine, you can always expect to gain high profits from such ventures.