Let’s have a look at the past year and analyze the list of the most profitable cryptocurrency mining operations in 2017. This should help us to better understand what’s ahead in 2018. Though the exchange rate in the blockchain market is as turbulent as ever, while Bitcoin still remains at the level above 10 k USD investors shouldn’t be in a hurry to leave the business. But it is important to understand that only deep knowledge of the best cryptocurrency to mine will help the little fish turn into sharks of the fintech world.
Cryptocurrency mining and profitability is complex: blockchain market dynamics depends on numerous players that lack experience and are ready to sell and buy by mood. Meanwhile, the global economics is heated up and growing – and it’s still ok to take risks: seek for new projects, invest in alternative coins and launch new ICO’s.
Bitcoin & Ethereum mining
It’s clear that Bitcoin and Ethereum is the best crypto currency to mine in 2018. To date Bitcoin is worth approx. 13 863 USD, while Ethereum is 1 352 USD. Even though the gap between these two coins is pretty big, we believe that in 2018 the situation can change significantly. Each day it is getting harder and harder to mine bitcoin, because of the constantly increasing demands for computing power needed to create new blocks. In the end of the day cryptocurrency mining explained in simple words is computing power used for mathematical code creation.
Since mining bitcoin is becoming difficult one should look at Ethereum. Ethereum’s smart contract system is used by most of the projects based on blockchain. This year Ethereum should become the best cryptocurrency to mine with CPU. If one would track the number of ICO’s launched on Ethereum in 2017, he would be surprised to find out that mostly all of them are operating on the ERC-20 standard and smart contracts. Even if only half of these projects will grow, Ethereum’s price should reach sky limits.
Another question is what is the best cryptocurrency to mine if not bitcoin or Ethereum? Ethereum classic is an interesting option for cryptocurrency mining. Its current price is only 26 USD. But experts still consider it one of the most promising cryptocurrencies. Why? Because the switching cost during mining is zero and the proof of work algorithm still remains the blockchain’s main principle: this means that miners are interested in operating on Ethereum Classic and getting tokens.
ZCash can become the most profitable cryptocurrency mining option among altcoins in 2018. At the moment its price is 491 USD. It could become even Bitcoin’s competitor in the nearest future thanks to its general popularity in the e-commerce sector. It is an open source net, has faster transactions than almost any other cryptocurrency and almost zero costs. Moreover, it is one of the most secure systems on the blockchain market and offers participants wallets to ensure that the stored money will not be hacked and stolen.
Dash Coin is the fourth in the list to be named the best cryptocurrency to mine with CPU. At the moment its cost reaches approx. 1048 USD. Its popularity can be explained by the simple reason: this cryptoccurency is operated on the peer to peer system – this makes it similar to cash. It allows passing transactions almost without any fees anywhere across the globe.
Finally, Monero – the number #5 in our list of the best crypto currency to mine in 2018. We recommend having a look at Monero which is currently sold on the market for 307 USD. In comparison, with other currencies, Monero’s key selling point is privacy. Founders of the coin are using a special system of encryption to make each transaction on the blockchain anonymous. Study more about the coin on its official website. If you own your own cryptocurrency mining rig already, maybe it’s worth using its computing power for generating the Monero coin that may even beat off bitcoin one day?
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