Best Cryptocurrencies To Mine In 2024

With Bitcoin halving in 2024, the reward for mining a single block has decreased significantly, but it's no time to panic—there are other cryptocurrency options for effective mining. The good news is that you can still earn profits even with graphics processors at home. Let’s discover the top 5 digital assets for effective mining that even a beginner can handle.

What Is Mining?

But about everything in order, let’s start with the basics. Crypto mining is the process of producing new blocks on a specific network with special equipment. For this purpose, miners use the computing power of devices to solve complex mathematical tasks. As a reward for their work, miners receive cryptocurrency; thus, they loot the benefits while supporting the network.

In addition to being a potential source of income, mining strengthens the decentralized ecosystem and ensures the transparency and security of transactions. Check out the best types of crypto mining to choose the option that suits you best.

Mining With GPU Vs CPU Vs Phone Mining

There are many types of mining methods in the crypto world. Today we will focus on these ones: CPU, GPU, and mobile mining. Each of them is efficient, so choose the one most convenient for you!

• CPU Mining

As the name implies, this process involves the computer's central processing unit (CPU). CPU mining gained popularity at the dawn of crypto but now delivers the least efficiency. It has limited processing power, so CPUs are typically used for altcoins with low network complexity, such as Monero. The only possible drawback is the unfavorable balance between high electricity costs and low performance level.

• GPU Mining

The next option is the graphics processing unit (GPU). It is currently the most popular due to its high performance. This type is suitable for mining most cryptocurrencies, especially good at Ethereum Classic and Ravencoin.

Graphics processors are capable of performing a large number of math tasks simultaneously. This method achieves a balanced ratio of costs to performance, as GPU mining is an excellent choice for coins that require more workload.

• Phone Mining

This is perhaps the newest and most controversial mining option to date. The obvious advantage is the low entry threshold, as it is much more cost-effective to buy a mid-range smartphone rather than a graphics card, let alone build a ready-to-mine system.

However, at present, it is the least revenue option and causes rapid device wear and tear. By the way, phone mining brings symbolic income. For example, coins like Pi (Pi Network), specifically designed for this mining method, at the time of listing can cost several dollars. If you still decide to go with phone mining, choose proven applications and do not run mining 24/7 to reduce the wear and tear of the device.

Now you know the main types of cryptocurrency mining and can compare the pros and cons in favor of each method. Let’s move on to the next important step to start your mining journey—choosing the right cryptocurrency.

How To Choose Crypto For Mining?

There are important criteria to pay attention to while choosing a digital asset for mining. Let’s go over them step by step.

• Profitability. First and foremost, take into account the current rewards and potential monthly profit. As you might understand, higher rewards offer more lucrative opportunities and prospects.

• Market Trends. Analyze the market dynamics: outgoing trends, current demand, and future growth potential. Try to understand the reasons behind these ways and develop your own strategy. Understanding market position will allow you to anticipate changes in demand and take advantage of opportunities at the right time.

• Privacy and Security. Evaluate the network features of specific cryptocurrency, such as anonymity and security measures. Cryptocurrencies focused on privacy offer enhanced anonymity and protection against potential threats.

• Hardware compatibility. Make sure that your equipment is compatible with the crypto you want to mine. Some digital assets require specific hardware configurations, which you should consider when choosing your mining setup.

The List of Best Cryptocurrencies For Mining

Once you understand the ins and outs, it’s time for the final and most important choice—selecting the cryptocurrency for mining. In addition to the well-known Bitcoin, Litecoin, Bitcoin Cash, and DOGE, we have created for you the top 5 list of the best coins with the best characteristics that are perfect to mine.

Ravencoin (RVN)

Ravencoin is a blockchain designed for the convenience of investors in creating tokens and conducting transactions. It’s an excellent option for home mining, as with the KAWPOW algorithm, Ravencoin can be mined using either CPU or GPU.

Ethereum Classic (ETC)

Ethereum Classic is a blockchain platform focused on decentralization and immutability, supporting the original Ethereum blockchain. For effective mining, you will need a graphics card and special software for ETC, PhoenixMiner. Mining is available using a GPU, as Ethereum Classic requires high computational power.

Zano

Zano is a blockchain network that focuses on privacy and developer support. It offers secure and untraceable transactions using ring signatures and hidden addresses. The combination of PoW (Proof of Work) and PoS (Proof of Stake) mechanisms enhances the decentralization of the coin. Zano is currently considered the best coin for mining with a monthly income of $32, as its ecosystem is constantly improving. It can be mined using a CPU.

Sero (SERO)

Sero is a blockchain designed for decentralized applications, issuing privacy coins. The developers assure users that it is a next-generation platform with smart contracts and an advanced “Super-ZK” zero-proof encryption library. This is the easiest coin to mine using a GPU.

Cortex (CTCX)

Cortex is a network that supports artificial intelligence with the main goal of democratization of AI. Security measures include encryption, smart contract audits, and data protection strategies. The unique combination of cryptocurrency and AI makes this blockchain a truly interesting project. The good news is that it can be mine through a mobile phone.

Thus, we have explored the top 5 best and most promising cryptocurrencies for mining. Now let's take a look at the best options for mining on those particular devices.

Best Cryptocurrencies For CPU Mining

Now that you know the basics of mining, its pros and cons, we can tell you about the best crypto coins for each method. The best cryptocurrencies for CPU mining:

Crypto Asset	YTD Performance	Profitability	Monthly Revenue
Monero (XMR)	YTD Performance 3.4%	Profitability 450%	Monthly Revenue $29.20
VerusCoin (VRSC)	YTD Performance 22.8%	Profitability 390%	Monthly Revenue $27.00
Raptoreum (RTM)	YTD Performance -10.5%	Profitability 360%	Monthly Revenue $25.80
Nerva (XNV)	YTD Performance 8.9%	Profitability 370%	Monthly Revenue $26.30
Zano (ZANO)	YTD Performance 141%	Profitability 509%	Monthly Revenue $32.67

Best Cryptocurrencies For GPU Mining

Crypto Asset	YTD Performance	Profitability	Monthly Revenue
Ethereum Classic	YTD Performance 12.3%	Profitability 475%	Monthly Revenue $30.50
Ravencoin (RVN)	YTD Performance -18.78%	Profitability 399%	Monthly Revenue $27.42
Flux (FLUX)	YTD Performance -22.76%	Profitability 396%	Monthly Revenue $28.04
Ergo	YTD Performance -5.4%	Profitability 410%	Monthly Revenue $28.67
Cortex (CTXC)	YTD Performance -52.17%	Profitability 427%	Monthly Revenue $29.55

Best Cryptocurrencies For Phone Mining

Crypto Asset	YTD Performance	Profitability	Monthly Revenue
Pi Network (Pi)	YTD Performance -8%	Profitability 180%	Monthly Revenue $5.00
Electroneum (ETN)	YTD Performance -4.2%	Profitability 190%	Monthly Revenue $5.50
Phoneum (PHT)	YTD Performance -2.8%	Profitability 185%	Monthly Revenue $5.20
StormGain	YTD Performance n/a	Profitability 210%	Monthly Revenue $6.00
TimeStope	YTD Performance n/a	Profitability 175%	Monthly Revenue $4.80

Today we have explored the most popular types of mining and the best coins for each. We hope this article was helpful to your start.

Which cryptocurrency did you choose? Write in the comments.