Most Profitable Cryptocurrency To Mine in 2021

Most Profitable Cryptocurrency To Mine in 2021

If you want to join mining cryptocurrency then you can start a very lucrative journey. Once you establish which coin you want for me, you have to establish whether the effort will be profitable. Due to the varying electricity costs, 1 BTC costs around $ 1,852 in Ukraine, while in Australia it is $ 9,913. When you determine the cost, we have placed the Most Profitable Cryptocurrency To Mine in 2021

What Affects The Profitability Of Mine Cryptocurrency

We know that the cost of electricity is going to affect the profitability of mining cryptocurrency, but what are the other aspects to consider? First of all, you have to look at the price of cryptocurrency, the more valuable the coin, the more profitable mining. You will want to check in to see when the next stop will be, just as it happens immediately after you install your mining equipment, this can have major consequences on your financial results.

The mining difficulty and hash rate of cryptocurrency coins will also affect whether you come out on top, or if you are going to join an already saturated competition. Finally consider the efficiency of your equipment. Which machines you invest in will largely depend on your budget and should be compared to the difficulty of the coin.

Most Profitable Cryptocurrency To Mine in 2021

Most Profitable Cryptocurrency To Mine in 2021

Let’s dive into our list of the Most Profitable Cryptocurrency To Mine in 2021

ZCash (ZEC)

Zero Cash launched in 2016 and offers completely anonymous cryptocurrency. Its mining algorithm allows mining graphics cards to be used, and the total coin supply is 21 million coins. The ZCash hashing algorithm uses Equish, an asymmetric memory-hard PoW algorithm built on a generalized birthday problem. This relies on high RAM requirements to hinder the creation of evidence and makes ASIC development impossible in the process.

Algorithm: Proof-of-Work

Hashing Function: Equihash

Block Mining Reward: 10 ZEC

Ethereum Classic (ETC)

After the DAO attack on the Ethereum network in 2016, the network split into two and the original blockchain became known as the Ethereum Classic. With the most recent undertaking in March 2020, each 5,000,000 block network reduced the block reward, where the block was reduced from 4 ETH to 3.2 ETH. The coin is still profitable for me, and uses the Etash hashing function.

Algorithm: Proof-of-Work

Hashing Function: Ethash

Block Mining Reward: 3.2 ETC

Grin (GRIN)

Grin was launched in early 2019 and offers a unique balance of privacy and scalability that uses the MimbleWimble protocol. The hash of the network dynamically affects the complexity of mining, and mining can be performed through three algorithms. Smile has an unlimited supply of coins, making coin mining very attractive.

Algorithm: proof of work

Hashing function: CuckARood-29, CuckAToo-31, Cuckaroom-29

Mining Reward: 60 GRIN per block

LiteCoin (LTC)

This top 10 cryptocurrency will always be a viable option for mining. One of the best hard forks of Bitcoin so far, Litcoin has wide appeal and strong functionality. Coin uses the script protocol and GPU is leading mining coins.

Algorithm: proof of work

Hashing Function: Script

Block Mining Award: 12.5 LTC1

Ethereum (ETH)

In addition to our top 10 most profitable crypto coins in 2021, there is another Ethereum hard fork, Ethereum. Currently sitting at number 2 on the list of largest cryptocurrencies, Ethereum provides a platform that facilitates DAP creation. The platform introduced the world to smart contracts and is widely used in the DIFI movement. Ethereum uses the Ethash proof-of-work algorithm and has no limited supply.

Algorithm: proof of work

Hashing Function: Etash

Block Mining Reward: 2 ETH

Monero (mnr)

Monero is another privacy-based coin that provides total anonymity. Established in 2014, Coin has experienced increased adoption. Monero now uses the RandomX algorithm which changes it continuously to prevent the possibility of ASIC-mining. This coin is one of the best options for CPU mining.

Algorithm: proof of work

Hashing Function: RandomX

Block Mining Reward: 1.73 XMR

Bitcoin Gold (BTG)

Another tough fork of bitcoin, Bitcoin Gold was officially launched in 2017. In an effort to democratize the mining process and eliminate specialized mining tools, cryptocurrency changed the PoW algorithm to Equish. Specifically designed for GPU mining, Bitcoin Gold 2021 is a good option for me looking for a profitable crypto coin.

Algorithm: proof of work

Hashing Function: Xasho

Block Mining Award: 12.5 BTG 2.5

Dash

Launched in January 2014, Dash sits in the top 30 cryptocurrencies by market capitalization. Cryptocurrency is a hard fork of Litecoin and facilitates fast and secure international transactions.

Algorithm: proof of work

Hashing function: X11

Block Mining Reward: 3.11 DASH

RavenCoin (RVN)

Launched in 2018, RavenCoin creates and facilitates peer-to-peer transfer of assets. It has been well received in crypto markets and has managed to achieve an impressive market capitalization in a short period of time. Coin has also extended its use case with features such as messaging in terms of platform usage, mobile wallets with seed phrases, and voting with RVN. Cryptocurrency is attractive to miners due to its X16R hashing function and KawPoW protocol functionality.

Algorithm: KawPoW

Hashing function: X16R

Block Mining Reward: 5,000 RVN

Dodgecoin (DOGE)

What began as a joke cryptocurrency soon became widely adopted and became a surprisingly successful crypto coin. Another Litcoin fork, Dogcoin sits in the top 50 cryptocurrencies and is primarily used to tip content creators on Twitter and Reddit. Dogcoin uses the script protocol and there is no limit to its total supply.

Algorithm: proof of work

Hashing Function: Script

Block Mining Reward: 10,000 DOGE

Conclusion

That concludes our list of Most Profitable Cryptocurrency To Mine in 2021. Be sure to find out which equipment will be best suited for the process, what is the cost of electricity in your area and other factors to establish if it will be profitable for you. Whether you select them or not, you can still buy most of these cryptocurrencies through Obit, either by card or through our exchange. Whatever you choose to do, make sure you start Most Profitable Cryptocurrency To Mine in 2021.