Cryptocurrency

The Easiest Cryptocurrency to Mine

  • 13.03.2018
  • 2,545

Are you interested in mining? Wondering what is the easiest cryptocurrency to mine? This post is for you. Cryptocurrency mining is gaining lots of popularity every single day. More people are beginning to appreciate the benefits that come with using such approach in getting cryptocurrencies, rather than buying with cash. The whole idea of mining these currencies gives you a lot of flexibility. Which basically means you can go as far as possible using the right kind of technology for mining. There are basically large-scale miners out there, who focus on mining popular currencies such as Zcash and Ethereum. 

On the other hand, you also find hobbyist miners who find it difficult to choose the right currency to mine. Typically, the difficulty gets raised up, your shares get low, because the mining whales taking all the shares, and your payouts are little more difficult to get. If this happens on a regular basis, then it is time to consider checking out a list of top rated coins to mine. Keep in mind that this isn’t going to be just straightforward black and white kind of thing. It is crucial that you take a look at what is available out there to mitigate any kind of loss that might result from cryptocurrency mining.

Also, once you mined enough crypto it is a good idea to do something with it if you want to multiply your total amount of coins. You can transfer your coins to an exchange, research the market and trade smart. However, cryptocurrency trading is a big gamble, which brings us to option number two. Actual gambling. You can use your mined crypto to try your luck in a lottery or online casino. If you choose the online casino, it is best to select a trusted one. Our experts tested over 40 Bitcoin casino brands and picked the best ones. But first, you need to mine those coins. So let us discuss the best cryptocurrency mining strategy.

Cryptocurrency mining platforms and the easiest cryptocurrency to mine

Let’s take a close look at two main cryptocurrency mining websites i.e. WhatToMine.com and CoinWarz.com. It is worthy of mention the What To Mine is a bit better because you can separate GPU from ASIC. And most people only do GPU mining. It is worthy of mention that this is what most hobbyist miners are interested in doing.

When you opt for What To Mine, the important thing to pay attention to is the algorithm, and you need to take a look at things like difficulty and block rewards. This helps you in determining what is going to be the best idea to mine. Keep in mind that the difficulty will tell if it is the easiest cryptocurrency to mine or not.

WhatToMine gives you lots of options when it comes to the ideal currency to mine. So if for example, Ethereum is showing as the most profitable, then what you need to do is click to see information about the block rewards, having a low block reward simply means you need to have 100% of the block shares, in order for you to have full pay-outs. Let’s take a close look at some best cryptocurrencies that are easy to mine.

#1 Belacoin (BELA)

One of the easiest cryptocurrencies to mine is Belacoin (livebela.com), which is due to its low difficulty rate of 31.782. With the power of 800W, and a block reward of 25.0. This cryptocurrency uses the Scrypt algorithm, which provides less difficulty level for mining.

#2 Ambercoin (AMBER)

Another great and easy digital currency to mine is Ambercoin, this is due to the fact that this cryptocurrency has a very low difficulty of 0.306 and a hash rate of 4800.0 Mh/s. With a high BTC value, mining Ambercoin is sure to save you a lot of time and money, with 220.0W power. This simply means you get to reduce the overall power consumption. It is worthy of mention that this cryptocurrency uses the X13 algorithm.

#3 Megacoin (MEC)

Megacoin also has a low difficulty of 332.056, with a hash rate of 500.0 Mh/s. Having a block reward of 12.5 MEC makes it a very viable option to mine. Megacoin uses the Scrypt algorithm for mining.

#4 Talkcoin (TAC)

Having a hash rate of 192.0 Mh/s, Talkcoin is also one of the easiest cryptocurrency to mine. With a block reward of 25.0 TAC, and a difficulty of 0.295. This cryptocurrency uses the NIST5 algorithm.

#5 Aricoin (ARI)

Aricoin uses the Scrypt algorithm for mining and has a difficulty of 33.357, which makes it under the category of cryptocurrencies that are easy to mine. With a block reward of 500 ARI, and a hash rate of 500.0 Mh/s. Using Aricoin mining at this rate, you can create 1 BTC in 11.87 days.

The size of your mining rig

Setting up a mining rig can be a bit challenging, especially for individuals that are doing it for the first time. Depending on your level of experience with computers and computing in general, keep in mind that the most useful computing resource needed is the graphics card. Although your processor, storage, and memory can also come in handy, it is advisable that you have a very high GPU. So find a good motherboard that has lots of PCI cards, and get to work by collecting graphic cards for your mining rig.

Keep in mind that video cards performance is calculated by their hash rate, which is most commonly measured in Mega Hashes per second. As someone who is trying to set up a decent mining rig for the first time, your goal should be to spend an as little amount of money as possible, while you focus on maximizing your hash rate. So it is ideal that you find the video cars with high hash rate, which will save you both time and money, as you get to mine quicker, thus consuming less power. This can also help in reducing your electricity bills.

When the whole idea of cryptocurrency mining started, it was possible for you to use your old gaming PC to mine, but as digital currencies become more popular, with high demand, more people started getting involved. You now simply need all the resources you can get, in terms of graphics cards on your computer. Keep in mind that graphics cards have become a bit more expensive than they used to be.

This is due to the fact that more people are using their GPUs to mine cryptocurrencies. Due to the number of processes running on your computer, during the mining process, you are going to experience some very loud noises coming from your PC. It is also relevant to control the temperature of your mining rig while putting electricity costs into consideration.

Which GPUs work better for which coins?

When it comes to knowing the GPUs that work better, anything that is on the EThash or the Ethereum blockchain is going to win in dGPUs, and then anything on the Equihash, like Zcash is going to win in dGPUs, so make sure you split your rigs up accordingly when you are taking a look. There are several coins out there and when you stick to the cryptocurrencies at the top, i.e. those with the highest values, it also means you have to mine them immediately and exchange them as soon as possible, as prices fluctuate.

So make sure you also consider the bottom currencies, as you can get a great value with most of them. Apart from checking out the block reward for a particular currency, which shows you the easiest cryptocurrency to mine, it is relevant that you check out things like the Exchange rate, the Power and the BTC value before you proceed.

One of the cryptocurrencies that have truly gotten all consideration is the Musicoin (MUSIC) cryptocurrency. It’s so natural to mine since it doesn’t require advanced mining equipment or machine. Anyone with a workstation or a PC can mine this currency easy. It likewise underpins GPUs and even minable on an Android phone.

It is very efficient since it doesn’t require or utilize a lot of power. Among all cryptocurrencies, one of the least demanding altcoins out there. Any regular individual with a fundamental pc can mine. After a lot of battle and dissatisfactions attempting to mine different coins; most people get tired of bearing the cost of the required equipment. It’s also crucial that you consider the pool fee, before taking your final decision.

Another important factor to put into consideration before you start mining is the supply. You should opt for a currency that has low supply because it simply means that the more you mine, the fewer coins are out there, which also means your value will go up.

Summing up

In order for you to be successful at mining your cryptocurrency, it is crucial that you understand the use of pools. Picking out the easiest cryptocurrency to mine has everything to do with the pool fees. Using a pool increases the frequency of pay-outs for anyone involved in the pool, and pool fees usually come in at right around 1%, So if you are using a pool to mine, you will be paying a bit more. It is safe to say that cryptocurrency mining is basically here to stay, and people who are involved in the process have a lot to show for it.

Deciding on the ideal cryptocurrency to mine is one thing, having the right kind of resources to see it through is another. This makes it imperative that you take the time to build a strong rig for all your mining activities. As mentioned earlier, what you need is a good graphics card, which will take less time to mine.

There are more way to earn cryptocurrency besides mining. You won’t need hardware or power for that, only your patience and time. And the best part of it is that it’ll be free. Interested? Check our next post about Bitcoin cash faucet.

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