Here Are the 10 Best Crypto Mining Besides Bitcoin
What are the best crypto mining besides Bitcoin? Apart from investing and buying and selling on exchanges like Binance, profits in the crypto world can also be sought by “mining” coins other than BTC.
Mining itself is a very fundamental activity and is even needed for the sustainability of a currency. This activity is one of the differences between crypto and fiat currency. In the early era of digital currency itself, the activity of "mining" was very tempting. The profits are big and the capital is more affordable. However, over time, profit mining experienced a fluctuating trend.
So is mining still 'worth it'? On this occasion, we will review the discussion. In particular, we will also recommend some of the best crypto mining besides BTC with promising benefits. But before that, let's talk a little about the meaning of crypto mining first.
A little about Crypto Mining
Crypto mining can literally be interpreted as the activity of mining crypto. However, this mining activity has absolutely nothing to do with physical and conventional mining activities.
In crypto mining, one only needs to work on a mathematical problem with the help of special tools. The mathematical problem itself is used to validate transactions made with the associated currency.
Remember, crypto is decentralized. Transaction validation is not carried out by the bank, but by anyone who is capable of doing it. As a reward, those who can solve these mathematical problems will receive a reward or prize.
Mining tools themselves are currently available in 3 options:
- ASIC: special mining tool, Application-Specific Integrated Circuit. ASIC can only be used to mine certain coins. It's cheap, works efficiently, but isn't upgradeable.
- GPU: a mining tool whose full name is Graphic Processing Unit. The price is more expensive, but can be used to mine various coins and can be upgraded.
- CPU: A mining tool that relies on a computer's CPU. The CPU price is cheaper but the efficiency is low and the process is slow.
Meanwhile, for the method, here are some ways to mine crypto:
- Mining itself: mining methods that are carried out individually.
- Pool mining: a mining method in which several tools are used together to mine coins.
- Cloud mining: mining method by renting tools from other people.
The Best Crypto Mining Beside the Most Profitable BTC
As mentioned at the beginning of the article, apart from BTC, there are several profitable alternative coins to mine. These coins include:
Since ETH has switched to a Proof of Stake mechanism, crypto fans obviously can't mine ethereum anymore. Fortunately, there are still ETC that can be mined.
Ethereum Classic or ETC itself actually experienced a DAO attack in 2016. As a result it had to be hard forked and upgraded to the latest version. However, currently, ETC has performed well enough to make it quite profitable to mine.
The ideal tools for mining ETC are GPU and CPU. The Block time or the length of time to validate transactions per block is 13 seconds. Overall, the power that must be provided is large, but the profits tend to be stable.
The next best crypto mining besides BTC is VTC or Vertcoin. VTC has a block time of 2.5 minutes and is ideal for GPU mining. The POW algorithm used by this coin is Lyra2REv3.
What is unique, the Vertcoin developer has made its currency non-minable with ASIC. Because they want to keep their coins decentralized. As is commonly known, many companies or organizations use ASIC to mine a coin, resulting in a massive monopoly by certain parties.
ZEC or ZCash also cannot be mined with ASIC like VTC. To be able to mine ZCash, the recommended tools are GPU and CPU. Not a few experts recommend ZCash for long-term investment. Because the project is reliable and the price is also stable. ZEC's own block time is 1.15 minutes.
The coin with the cat logo, MONA, can also be an alternative for those who want to mine crypto with decent profits. MONA has a block time of 15 minutes and is ideal for GPU mining. It's just that MONA's prospects are not as good as other coins. If you want to invest long term in this coin, you really have to monitor its progress regularly.
It's impossible to talk about the best crypto mining besides BTC without discussing Raven or RVN. This cryptocurrency, which was released in 2018, has a block time of 1 minute and is easy to mine with GPUs. Its market cap is currently in the top 100 and its algorithm, KawPow, also makes it easy for beginners to mine.
Monero or XMR is certainly not a foreign name for crypto fans. XMR has been around since 2014 and can still be mined today. The block time is 2 minutes and the market cap is in the top 30. Even though it cannot be mined with ASIC, the profit that can be obtained from XMR mining is quite tempting.
Metaverse or ETP is a coin from China that has been popular recently. This coin has a block time of 21 seconds and can be mined with various tools from ASIC to GPU. The project itself is quite promising, but to get the maximum profit, it's better to do mining in a trusted pool.
Grin exists as an open source project with a fairly strong community. Its popularity is not that great, but the benefits that can be obtained make this coin 'worth it' to be considered. Grin's own block time is 1 minute and is ideal for mining with a GPU.
The Best Crypto Mining Beside the Easiest BTC
The eight coins above are coins which, according to our analysis, can provide tempting profits to mine. However, for those of you who want a coin with an easy mining process, please consider the following two options.
Who doesn't know Elon Musk's favorite meme coin? Doge is actually not only easy to mine, but also quite profitable. It's just that it would be better if Doge mining was done using the cloud method and pool mining so that the profits would be more significant
BTG or Bitcoin Gold is the result of a BTC fork with the Zhash algorithm. This coin is designed in such a way by the developer so that there is no monopoly from ASIC miners. BTG's mining profit is indeed not that much. But again, this coin is indeed recommended because of the ease of the mining process.
Factors to Look For to Choose the Best Mining Crypto other than Bitcoin
From ETC to DOGE, mining activities are still profitable. In the future too, it is possible that there will be more coins that can provide similar profits. For miners themselves, what needs to be understood are tips on choosing profitable coins to mine such as:
- Profit earned per certain period of time
- The number of blocks that must be completed to get a reward
- Cost or overall costs to be borne
- These three aspects are interrelated and all must be considered. For example, coin A supposedly offers high returns. However, mining costs are very expensive. Not to mention, the price of coin A is also very volatile.
Instead of speculating with coin A, you can mine other coins that are more stable and promising. Especially if the mining costs are more affordable.
Conclusion about the Best Crypto Mining Besides BTC
Crypto mining or crypto mining is an activity in which someone solves mathematical problems on a coin to validate transactions. In return, miners will get rewards.
In the early days of digital currency, the only coins that were mined were BTC. But at this time, apart from BTC, there are already quite a number of coins that offer lucrative profits.
For example, ETC, XMR, RVN, GRIN, and so on. Some coins are also very easy to mine even though the profits are not that big, such as Doge and BTG. What needs to be remembered, when choosing a coin to mine, pay attention to fundamental factors such as block time and fees that must be borne.