October 4, 2019
One of the most common questions in the crypto industry these days is whether or not crypto mining can still be profitable. As you may expect, the answer is not as black and white as a simple 'yes' or 'no.' A lot of it depends, such as where you are located, and where you plan to mine from. This can severely impact the height of your electricity bills.
Then, there is the matter of hardware that you plan to use. There are still coins that can be mined with a decent GPU, but a GPU won't take you far if you wish to mine Bitcoin.
Finally, there is also a matter of which coin you want to mine in the first place. This is probably the most important question, as mining Bitcoin and mining pretty much anything else is already as different as it can get. In fact, you likely won't be able to mine BTC by yourself in this day and age. Mining BTC has been extremely profitable and popular for years now, and there are so many Bitcoin miners that they had to establish mining pools and mining farms in order for several parties to have the opportunity to participate in the process.
This is because Bitcoin is still extremely expensive, especially as its price recovered by quite a bit in the first half of 2019.
But, if you want to mine an altcoin that is not too demanding, with its block-solving difficulty being at a relatively low level, there are some coins that you can go for. Of course, you should also factor in the price of the coin you wish to mine, the size of the block reward, and many other factors. But, assuming that you know what you are doing, here are a few choices that you might be interested in.
GRIN is not a particularly old coin, and it uses MimbleWimble consensus algorithm to make its transactions private. However, its coin supply is not capped, so you can pretty much mine it indefinitely. Best of all, it can be mined with a GPU alone,
The reward for mining it is 60 GRIN per block, and its current price is $1.37, so you can earn around $80 per block if you mine it by yourself. If you are interested in mining it, you currently have a limited window of opportunity, before ASICs get involved. GRIN is also accepted by a number of big exchanges, such as KUCoin, HitBTC, Bittrex, Poloniex, OKEx, and alike.
Most people have heard about ZCash, which is one of the most popular privacy coins. Now, granted, privacy coins are not in the best place right now, and their situation is likely going to get even worse in the future. The governments do not appreciate private transactions due to their potential for money laundering and financing terrorism and other criminal activities.
But, Zcash is an older coin, and it can be mined by anyone with a simple mining GPU. Its mining rewards right now include 10 ZEC per block, while its current price sits at $37.97.
Finally, you could always go for LTC if you can afford to buy a slightly more expensive GPU. Litecoin is one of the oldest coins in the market, and one of the best BTC forks. It is pretty expensive ($55.94), it is accepted on most exchanges, and it is less volatile than BTC itself, as well as many other altcoins. It also offers better speeds than bitcoin, and you can still mine it with a GPU, as mentioned, meaning that you don't have to pay thousands of dollars for ASICs.
It is a high-ranking coin, a decent alternative to BTC, and you can earn a good profit by mining it, all of which serve as a good reason to pick this crypto.
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