Most Profitable Crypto To Mine
Crypto Knowledge

Most Profitable Crypto To Mine

written by John Murphy | March 8, 2023

Cryptocurrency mining is one of the best sources of income for users who want to generate a passive source of income while staying in the crypto space. Although there are many other sources of generating income from cryptocurrency, the safest and risk-free way is to adopt mining. So, knowing the most profitable crypto to mine can lead you to handsome returns.

Although many users consider Bitcoin mining the best source, an unpopular opinion is that there are other cryptocurrencies that are more profitable to mine than BTC coins. Similarly, many users have made more from mining other fastest cryptocurrencies like Ethereum or Dogecoin.Β 

Moreover, certain mining processes are more useful than others; thus, having the right selection of tools is key to making sustainable yields from crypto mining. 

So, stick around as we have compiled a list of the most profitable crypto to mine.

Let’s explore!

  • Bitcoin
  • Algorithm – SHA-256
  • Hashing Function – Double SHA-256
  • Block time – 10 mins
  • ROI since launch – 3%
  • Block mining reward – 6.25 BTC

Once a king, always a king. Besides having the greatest pool of miners, Bitcoin is one of the most profitable cryptos to mine. Although opinions differ on whether mining Bitcoin is viable with an ASIC or GPU, it is still profitable.

We believe the best way to mine Bitcoin is to become part of a mining pool such as Nicehash. However you can also start solo mining, but it generally is expensive as you will require a high upfront cost.

  • Ethereum
  • Algorithm – Ethash
  • Hashing Function – Keccak-256 cryptographic
  • Block time – 12 secs
  • ROI since launch – 279,843%
  • Block mining reward – 3 ETH

Ethereum is another popular option to mince cryptocurrency; it offers a high return, as mentioned above. Although ETH is also somewhat reaching its saturation where returns are declining, with the crypto market cap and its value, it has become a great option for mining.

ETH has its dedicated blockchain having its programming language, thus making it one of the best cryptocurrencies for mining with a GPU. Moreover, users can install AMD and Nvidia GeForce RTX GPUs to mine Ethereum cost-effectively.

  • Monero 
  • Algorithm – RandomX
  • Hashing Function – Proof-of-Work
  • Block time – 2.5 mins
  • ROI since launch – 5887%
  • Block mining reward – 1.16 XMR

Another profitable crypto to mine that offers private and censorship-resistant transactions. Crypto is famous for supporting fast and inexpensive payments across the globe. If you use a GPU, you can earn handsome coins as a reward for mining Monero.

With high demand and less supply, Monero becomes one of the best-returning cryptos to mine. A ring signature feature keeps all transactions visible to all the concerned parties, which is a big advantage. 

  • Ravencoin
  • Algorithm – KAWPOW
  • Hashing Function – Proof-of-Work
  • Block time – 1 min
  • ROI since launch – 39%
  • Block mining reward – 5,000 RVN

Ravencoin is one of the most profitable cryptos to mine. The coin represents different types of assets like virtual goods, shares, and gold. The best machine to mine Ravecoin is to use the RTX series of NVIDIA GPUs. In fact, you can even start mining Revencoin with your CPU, but it costs more gas, so we recommend having an advanced computer.

Regarding profitability, users can generate around $4.40 per day through mining.

  • Dogecoin
  • Algorithm – Scrypt
  • Hashing Function – Scrypt-based
  • Block time – 1 min
  • Block mining reward – 10,000 DOGE

Dogecoin is a meme coin popular for open-source P2P digital currency and one of the best crypto to mine. Moreover, it offers high usability and makes it easy to make purchases and payments.Β 

Users can easily mine DOGE by solving mathematical equations and recording transactions. Additionally, you can start mining Dogecoin with a PC, Windows OS, Linux or a GPU.

  • Litecoin
  • Algorithm – Scrypt
  • Block time – 2 mins
  • Block reward – 12.5 LTC

Litecoin is minable with lower hardware and is one of the oldest cryptocurrencies, thus making it a perfect choice for mining. Moreover, LTC has one of the best market capitalizations and is popular for low transaction fees, quick confirmation and general usage.

Litecoin also allows the merged mining of different cryptocurrencies. For instance, users can merge mine alongside the DOGE coin.

  • GRIN
  • Algorithm – CuckatooC32
  • Block time – 1 min
  • Block reward – 60 GRINS

GRIN cryptocurrency is fast to mine, and you can earn handsome rewards. Consider using GPUs like NVIDIA RTX 2080 Ti model or above, as these are best suited to mine cryptocurrencies such as GRIN.

The profitability for mining GRIN is excellent due to low supply and high demand. Users can generate around $1.44 daily with less than a 10 H/s hash rate. Thus, it is one of those cryptocurrencies that offer high return rates and are ideal for mining.

Frequently Asked Questions

Which crypto offers the highest return on mining?

The following are a few cryptocurrencies that give the highest return in mining.

  • Ethereum
  • Monero
  • GRIN
  • Litecoin

Which is the easiest crypto to mine?

Monero (MXR) is one of the easiest cryptocurrencies to mine, and you can start mining even from your computer. It is a privacy-focused coin using the RandomX hash function and the CryptoNote protocol.

Can I get rich with crypto mining?

Yes! You can get rich with crypto mining, as the crypto space has already seen numerous users earning handsome amounts through mining. However, having a mining machine capable enough to turn your cost into profits would be best.

Parting Thoughts

Crypto mining has boomed in recent times as new and fastest cryptocurrencies keep adding to the crypto space each day. Thus, each cryptocurrency needs miners to stay alive in the market, which becomes a good income stream for many users.

Moreover, since crypto mining is not a technical task, thus anyone with basic computer knowledge can start mining by purchasing an advance levels computer like a GPU or an ASICS.

In our opinion, the most profitable crypto to mine is Ethereum. Since it has established itself as one of the best cryptocurrencies, thus its high return is ideal for making money through mining. However, frequent updates in the Ethereum blockchain keep it a step ahead of the competition. 

Moreover, other cryptocurrencies offer high mining returns, like Dogecoin, Litecoin, GRIN, Monero and Ravencoin.

We hope you enjoyed reading this article, and please leave feedback in the comments section.