- The most professional, fast, and effective method to mine cryptocurrencies is with an ASIC circuit.
- However, there are other methods that are easier, including CPU and GPU mining.
- Ethereum Classic, Feathercoin, and Monero are among the altcoins that can be mined this way.
As cryptocurrencies grow in popularity, so do the number of people interested in mining them.
To understand why it is easier to mine some digital currencies than others, it helps to look at the different types of mining:
In the beginning it was the most popular cryptocurrency mining method because almost any computer could do it. However, time has shown that it is slow and, in many occasions, not very profitable.
However, the process is simple, mainly because the initial outlay is low. Not all cryptocurrencies can be mined with a CPU; those that are suitable are among the easiest cryptocurrencies to mine.
This is another very common modality, for which a GPU (Graphics Processing Unit) is needed. It is considered a cheap and effective method, as it offers quite a lot of speed.
The system of choice for “professional” miners. ASIC stands for Application Specific Integrated Circuit, and it’s a specific equipment for mining cryptocurrencies that comes at a high cost.
A company is contracted to perform the entire process for the interested party. It performs the maintenance and supervision in exchange for the payment of a fee.
The easiest cryptocurrencies to mine
The easiest digital currencies to mine are those that are mined on the GPU or CPU.
Here are 7 of them:
1. Grin (GRIN)
The cryptocurrency Grin, which at the time of writing has a value, according to CoinMarketCap, of €0.3112, can be mined with GPUs. It was developed in 2019 through the MimbleWimble protocol, which aimed to build an anonymous, scalable and lightweight blockchain.
2. Ethereum Classic (ETC)
It is possible to mine Ethereum Classic with GPUs and video boards with 3 or 4 GB of memory. Ethereum Classic is a decentralized platform that runs smart contracts. Its native cryptocurrency is ETC, which is priced at €40.54 at the time of writing. It was born from Ethereum in 2016 after the hack known as The DAO.
3. Zcash (ZEC)
When it was launched in 2016, it was said to be the alternative cryptocurrency to bitcoin. Even Edward Snowden supported Zcash, since its system encrypts all information, making it untraceable. Currently, Zcash is priced at €91.91 and can be mined with GPU or CPU.
4. Monero (XMR)
Monero is another cryptocurrency that is easy to mine, since it can be mined with GPU or CPU. Currently, its price is €212.48. It is also an untraceable cryptocurrency and is considered the cryptocurrency with the highest level of privacy at the moment.
5. Ravencoin (RVN)
It was created in 2018 with the bitcoin code and using an algorithm called Kawpow. In other words, it is another cryptocurrency that was projected from the original bitcoin. It is mined with CPU or GPU and using the Proof of Work (PoW) technique. The price at the moment is €0.08145.
6. Vertcoin (VTC)
In this case, the Proof of Stake (PoS) technique is used. It was also created (in 2014) with the bitcoin source code. The current price is €0.3862. Its official website reads: “Mine vertcoin with your computer at home. The way bitcoin was conceived.”
7. Feathercoin (FTC)
Although, logically, it is more efficient to use a GPU, Feathercoin is another cryptocurrency that can be easily mined with CPU. It is currently worth €0.01635. It was launched in 2013 as a fork of litecoin, it is capable of processing one block per minute and the total supply will be 336 million coins.