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Top 10 Most Profitable Cryptocurrency mining in 2020

Top 10 Most Profitable Cryptocurrency mining in 2020

  • 22 October 2020
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Which cryptocurrencies are worth mining? What is the top 10 most profitable cryptocurrency mining in 2020? If you ask yourself such questions, you may not have found the right crypto to make a profit. So, bear in mind that BTC is not the only mineable asset that lets you earn money.

Minerland has provided more than 160 mineable cryptocurrencies for you. We prepared the 10 most profitable crypto coins for mining which illustrates that there is an abundant number of altcoins for profitable cryptocurrency mining in 2020.

Examine the Cryptocurrency Mining Profitability Index

Miners have become much cleverer and more skillful in cryptography. They tend to mine the most undertaking coins only if they allocate hash power, time, and effort. However, there are always adequate elements to endorse a new cryptographic project.

So, let’s see what the crypto mining profitability index is:

  1. The Coin price. The rule is simple: the more expensive a cryptocurrency is, the more lucrative would be the mining. This will be accurate solely for short period opportunities. Provided that you are patient, you can mine promising crypto and hold your fire till the price raises.
  2. Supply control and mining reward. The reason that cryptocurrency mining in the current year is less gainful than before is the effect of the halving of rewards. Do your own study to evaluate either your mining facility investment will be returned by the assets mined or not.
  3. Duration of building a block. The more blocks are created by the network, the greater the chance of receiving rewards for a solved block.
  4. Hash rate and difficulty. By growing the number of miners, the mining activity has become challenging for both CPU and GPU mining. However, it’s still possible to find a niche mining opportunity that you can make money with no pain from the rivalry.
  5. The efficiency of the mining facilities. This item relies on your amount of investment and the present mining difficulty of crypto. Hypothetically, the mining facilities have to be improved and updated continuously, but the truth is that it is very costly to invest in such equipment regularly.
  6. The electricity expenses. This item is the most vital in estimating the productivity of crypto coin mining. Below is a figure of countries with their level of electricity costs.

Examine the Cryptocurrency Mining Profitability Index

For instance, the below table illustrates the Ether mining profitability drop:

Ether mining profitability

Most Profitable Cryptocurrency cloud mining in 2020 with Minerland

Minerland however, provides you with such a cryptocurrency cloud mining opportunity by giving you a portfolio of coins using a mining arbitrage strategy. Not only do not you need to know the complicated detail of cryptocurrencies but also your profit will be given in BTC with daily withdrawal options. Besides, there is no need to worry about the fees as there will be a cheap mining fee deducted from your income.

How to find Best cryptocurrency mining in 2020?

Imagine employing the best mining equipment in 2020 and want to mine thousands of crypto coins. Thus, you should think of how and where you can use these coins. There are some important elements as below:

  • Exchangeability to a currency. search the exchanges letting you transfer the new crypto to a fiat currency or to celebrated cryptocurrencies. Please consider the exchange fees in your calculations.
  • Check out the exchanges offering the coin. Most of the time the unknown crypto coins can merely be withdrawn to the internal wallet of cryptocurrency exchange companies. The unpopular exchange firms have no choice but to cooperate with low-level coins and count on bulky commissions as the sole way to compete. Hence, the miner will be required to contribute a severe share of the received to withdraw the digital asset.
  • Figure out the legality. Cryptocurrency mining rules are quite harsh in some parts of the world. If it’s completely forbidden in your place, the best advice is to get rid of the mining. Authorities in certain countries zoom in on the cryptocurrency mining industry as they believe that such platforms can be used as means for money-laundering and illegal trading. Please be sure about the probable legitimacy outcomes beforehand. If you are confident that mining is not logical at your location, you are able to trade crypto or find a cloud mining service link Miner-Land.com.
  • Once you have chosen the cryptocurrency you want to mine, examine the long-term application of the mining facilities. The problem is that the difficulty of mining is increasing in a fast peace and mining facility is constantly doomed to lose its worth.

Top 10 most profitable altcoins mining in 2020

Herewith, we have provided the top 10 most profitable altcoins mining in 2020. The good news is that you do not need to establish the whole mining farm to run this activity. Every cryptocurrency has its own potentials, thus, making a profit shouldn’t be a big worry.

  1. Grin (GRIN) is the best choice for using GPU

Grin is a comparatively fresh coin grounded on a protocol named MimbleWimble that confirms the transactions’ confidentiality in the network.

The number of coins is infinite which is very interesting for miners. The mining difficulty alters dynamically in harmony with the current network hash. It employs the so-called Cuckoo Cycle theory. The network has experienced its second hard fork on January 16, 2020, and presented a novel Cuckaroom-29 algorithm. Right after that, another hard fork has happened on 16th July 2020.

You can mine GRIN using three algorithms: CuckARood-29, CuckAToo-31, and Cuckaroom-29. Using CuckARood-29 requires frequent software updates.

Thus, GRIN coin can be traded on several cryptocurrency exchange platforms such as HitBTC, Poloniex, Bittrex, OKEx, and KUCoin.

Algorithm: Proof-of-Work
Hashing Function: CuckARood-29, CuckAToo-31, Cuckaroom-29
Total ROI: -95.43%
Market Price: $0.27 USD
The reward for a block: 60 GRIN
http://grin.mw

  1. ZCash (ZEC) is focused on privacy and anonymity

ZCash (ZeroCash) was introduced in October 2016. The algorithm of this coin provides the option for utilizing graphics cards. The transactions in ZCash network are totally anonymous and untraceable. This single element has attracted many users.

The transaction fee of the network is so tiny and it is totally convenient for trading and selling.

Hence, ZCash was enormously presented to well-known exchanges in 2017. However, it is critically undervalued and probably will recap its value by the end of 2020.

Algorithm: Proof-of-Work
Hashing Function: Equihash
Total ROI: -98.29%
Market Price: $66.08 USD
The reward for a block: 10 ZEC
https://z.cash/

  1. RavenCoin (RVN) is an open-source blockchain that specializes in the creation and P2P transfer of assets

RavenCoin is one of the Bitcoin hard forks introduced in 2018 and gained high liquidity. Currently, it is ranked 95 in the coin market cap ranking with a capital of over $93 million. Last year, developers developed some valuable features to the network such as messaging, voting using RVN, healthier compatibility, mobile wallet with a seed phrase.

Many platforms are offering RVN exchange at the moment. At its core, it is a Peer-to-Peer blockchain network providing efficient and swift asset transfer from one point to another. It provides asset transfer on Ethereum and Bitcoin platforms. Why RavenCoin is suggested for you? Because It employs X16R algorithm and KawPoW protocol.

Algorithm: KawPoW
Hashing Function: X16R
Total ROI: 39%
Market Price: $0.0138 USD
The reward for a block: 5,000 RVN
https://ravencoin.org/

  1. Monero (XMR) allows transactions to take place privately and with anonymity

Monero has been present since 2014 and has shown to be consistent and worthwhile. It delivers an extraordinary level of concealment. Meanwhile, Monero swapped the CryptoNote algorithm to a more multipart algorithm RandomX in 2019. Currently, it is one of the best cryptocurrencies for CPU mining.

“The Cryptonote series of algorithms that we’ve been using for a long time [have] been relatively simple. Pretty easy for someone to just pick up and grab, re-implement, and understand. The new RandomX series is definitely a lot more complex […],” said the new lead maintainer of Monero, Alexander Blair.

The algorithm keeps changing to avoid the opportunity of ASIC-mining.

Above all, Monero (XMR) positions decisively between Most Profitable Cryptocurrency mining in 2020.

Algorithm: Proof-of-Work
Hashing Function: RandomX
Total ROI: 1,490.68%
Market Price: $39.29 USD
The reward for a block: 1.73 XMR
https://getmonero.org/home

  1. Ethereum Classic (ETC) is a smart contract network, with the ability to host and support decentralized applications (DApps)

Theoretically, Ethereum Classic is considered to be a reliable Ethereum blockchain that preserves the history of the entire Ethereum network. Because of the infamous DAO occasion in 2016, Ethereum met two paths of auxiliary network development. Some developers keep an eye on the ‘Code is Law’ statement that remained to preserve the appropriate work of the unchanged network meaning Ethereum classic. Others favored an evolving Ethereum with no dim recalls of DAO.

With regards to the Ethereum Classic money policy, the Ethereum classic network decreases the block reward every 5 million blocks. Therefore, the most recent reduction was in March 2020 with which the block reward was declined from 4 ETH to 3.2 ETH. Nonetheless, ETC mining is still gainful.

Algorithm: Proof-of-Work
Hashing Function: Ethash
Total ROI: 525.52%
Market Price: $4.71 USD
The reward for a block: 3.2 ETC
https://ethereumclassic.github.io/

  1. Litecoin (LTC) was created on the Bitcoin protocol, but with a better hashing algorithm, hard cap, block transaction times

If you afford to use expensive GPU equipment, go for Litecoin mining. Litecoin is one of the most prosperous Bitcoin hard forks. Why Litecoin?

  • You can simply exchange it on several platforms.
  • It is less unstable than various other altcoins.

you do not need to purchase ASIC as it uses SCRYPT protocol. So, it is among the top 10 Most Profitable Cryptocurrency mining in 2020

  • Great speed and reasonable transaction charges.

Algorithm: Proof-of-Work
Hashing Function: Scrypt
Total ROI: 743.42%
Market Price: $36.27 USD
The reward for a block: 12.5 LTC
https://litecoin.org/

  1. Bitcoin Gold (BTG) altered SHA256 to Equihash in an attempt to democratize the Bitcoin mining process.

Another valuable coin for mining in 2020 is Bitcoin Gold which was generated precisely for mining with GPU. It’s ranked as 74th world cryptocurrency with its $140 million market cap.

Bitcoin Gold (BTG) altered SHA256 to Equihash in an attempt to democratize the Bitcoin mining process.

The Figure exhibits the leadership of Bitcoin Gold in revenue in USD for 1 KHash/s.

For example, one of the chief motives for having Bitcoin Gold is steadiness. Although it didn’t nurture in 2019, it’s seemed to be less unstable than other altcoins. The coin has circumvented being impacted by the bearish trend in 2020.

Algorithm: Proof-of-Work
Hashing Function: Zhash
Total ROI: -98.52%
Market Price: $7.11 USD
The reward for a block: 12.5 BTG
https://bitcoingold.org/

  1. DASH (DASH) Has introduced new tech for instance Masternodes, InstantSend, ChainLocks, PrivateSend

Dash defines itself as digital cash in the crypto market. It provides instant and safe transactions by InstanSend and PrivateSend.

Antminer D3 from Bitmain company is the best DASH ASIC miner. So, Dash is among the top 10 Most Profitable Cryptocurrency mining in 2020. However, bear in mind that the mining productivity relies on the hash rate of your mining equipment, network difficulty, and electricity expenses of your area.

Algorithm: Proof-of-Work
Hashing Function: X11
Total ROI: >9000%
Market Price: $65.74 USD
The reward for a block: 3.11 DASH
https://www.dash.org/

  1. Dogecoin (DOGE) is an open-source fun, light-hearted cryptocurrency

Dogecoin (DOGE) is an open-source fun, light-hearted cryptocurrency

Billy Markus introduced Dogecoin cryptocurrency and it was created just for fun. However, it abruptly became famous and now is ranked 45 with a $337 million market cap. Similar to Litecoin, it utilizes Scrypt protocol, so you do not require to equip very classy facilities to mine this coin.

Nevertheless, it doesn’t mean you can use your laptop for DOGE mining. Dogecoin is extremely popular, so is its mining complexity. So, apply a CPU/GPU to enjoy stable performance and revenue.

Algorithm: Proof-of-Work
Hashing Function: Scrypt
Total ROI: 216.51%
Market  Price: $0.001769 USD
Reward for a block: 10,000 DOGE
http://dogecoin.com/

  1. Ethereum (ETH)

Ethereum (ETH)

Ethereum and ETH mining has accomplished to return its second rank back in 2019. Yet, the crypto price is has increased after the reduction of reward from 3 to 2 ETH. As a result, a reduction in supply, if there is high demand, leads to a growth in price.

Some crypto activists claim ETH price will reach to $1,200 by the end of 2019. However, this expectation didn’t work. Yet, Nigel Green has faith in ETH and thinks it will someday become $2,500. As a result, this will be facilitated by amplified demand for cryptocurrencies, the reputation of smart contracts, and the decentralization of cloud computing.

Algorithm: Proof-of-Work
Hashing Function: Ethash
Total ROI: 4,352.08%
Market Price: $126.07 USD
The reward for a block: 2 ETH
https://www.ethereum.org/

Bitcoin (BTC) – The King

Ethereum (ETH)

Bitcoin is the king of cryptocurrencies with a current dominance index of 64.5% according to CoinMarketCap. A recent study from a renowned crypto-community influencer @hodlonaut, more than 60% of crypto holders allocate more than 75% of their portfolio to Bitcoin (BTC). It is a brand and has its own unique currency symbol.

Also, ASIC mining devices dominate Bitcoin mining for several years. For example, do not even try to get involved in mining it on a CPU or GPU.

Algorithm: Proof-of-Work
Hashing Function: SHA-256
Total ROI: 16.215.50%
Market Price: $ 12890.36 USD
The reward for a block: 12.5 BTC

By the way, if you have a pretty moderate amount of mining power, you can increase your crypto mining profitability by joining a mining pool (mine together with others and share profit). Here are platforms allowing for it:

Coin Mining pools
Monero MineXMR, MinerGate, Nanopool, Dwarfpool
Ethereum ETHfans, Dwarfpool, F2pool, ETHpool, MinerGate
Ethereum Classic Ethermine, Nanopool, Miningpoolhub, 2miners
Ravencoin Pickaxe.Pro, Virtopia Mining Pool, XiTech, Zergpool
Litecoin Multipool, Prohashing, Litecoinpool, NiceHash, viaBTC
Dogecoin Aikapool, Litecoinpool, Multipool, Prohashing
Bitcoin SlushPool, BTC.com, F2Pool, Antpool, Poolin
Summary

Is cryptocurrency mining worth it? Unconditionally yes, if you calculate all investments and earnings earlier and make up a systematic plan. For instance, your budget should resemble what you will mine. Just bear in mind, the more popular and expensive a coin is; the more powerful equipment is needed.

Read to the end? If now you doubt that mining is a good idea for you, just start cloud mining with Miner-Land plans. We provide the best rates for fast and easy cryptocurrency cloud mining using arbitrage among the top 10 most Profitable Cryptocurrency mining in 2020.

4 responses to “Top 10 Most Profitable Cryptocurrency mining in 2020”

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