Cryptocurrencies

Best Cryptocurrencies To Mine With GPU In 2020

Cryptocurrency mining can be extremely rewarding if done right. Many people earn substantial amounts of money by running full mining nodes for various cryptocurrencies. This guide will share a few meaningful cryptocurrencies you, too, can mine via GPUs to earn rewards and contribute to their decentralization. The cryptocurrencies listed are a personal choice, and you will have to choose your favorite cryptocurrencies to mine based on their profitability as well as your beliefs in the cryptocurrency’s future potential.

Mining altcoins – things to know before starting

You will require a set of things to embark on your mining journey:

  • A free private database aka your coin wallet. Your wallet is a password-protected storage for your earnings and keeps a network-wide ledger of transactions.
  • A free mining software package.
  • A membership in an online mining pool, which is a community of miners who combine their computers to increase profitability and income stability. Mining outside of a pool will almost certainly mean you won’t be the one who solves the mathematical task.
  • Membership at an online currency exchange, where you can exchange your mined coins for cash or Bitcoin.
  • A hardware setup located preferably in a cool and air-conditioned space.
  • A desktop or custom-built computer designed for mining.
  • An AMD/Nvidia graphics processing unit (GPU).

Personal curiosity. You need to constantly read, research and learn, as mining technologies improve very rapidly which results in new ways of optimizing your coin mining results. The most successful coin miners spend hours every week studying the best ways to adjust and improve their coin mining performance.

How to choose the right GPU

First of all, you need to choose a GPU. The market is flourishing with a numerous number of video cards and choosing the right one is not an easy task. Here are the most important things you need to consider while choosing a GPU for mining:

  • Video card memory capacity – it should be 4GB or more. The general rule is the higher the better. Some cryptocurrencies can be mined with weak GPUs with 1-2 GB but there won’t be much profit (if any).
  • Type of memory – video cards with GDDR5, GDDR6 and HBM2 offer good capacity.
  • The memory bus width – GPU with a 128-bit bus is less efficient than a card with 256-bit bus width.
  • Overclock – not all graphic cards have this feature. Therefore, it is worth knowing in advance whether this feature is available for the GPU you are looking at. With proper overclocking, you can improve performance by 40%. However, an overclock leads to higher electricity consumption, so keep this in mind too.
  • Cooling system – the malfunction of video cards is connected with overheat 90% of the time. Therefore, you should choose a GPU with large radiators, thick copper tubes and a high-quality power circuit. This is not something to save on.
  • Up-to-date drivers – it’s no secret your software should be up-to-date for the better performance of your little “mining farm”.
You need to constantly read, research and learn, as mining technologies improve very rapidly which results in new ways of optimizing your coin mining results.

Is it still profitable?

Yes and No. It mostly depends on the electricity costs in your location and the price of the altcoin. The most profitable altcoins for your graphic cards can change day after day. You can monitor this on whattomine.com to determine the most profitable cryptocurrency to mining with your GPU and electricity costs.

You are the lucky one if you have cheap electricity (less than $0.1 per hour) and already have GPUs. But if you are only at the beginning of your journey, consider this type of mining as a hobby and self-education process. You will manage to earn just a few bucks a week so don’t expect to get rich or make much profit.

Let us explore the best Cryptocurrencies to mine in 2020

Do you have a mining rig? If this is the case, you simply have to choose the most profitable virtual currency to mine. The question then arises as to which cryptocurrency offers the most potential. Several cryptographic currencies offer prospects for better mining performance.

Let’s get to it then, now we will review of the best cryptocurrencies to mine in 2020!

Ethereum

Making a list of top GPU mineable cryptocurrencies without including Ethereum can be considered criminal. Ethereum, which is also known as Ether, is an open-source, decentralized cryptocurrency of the Ethereum network. This network acts as a fuel for the decentralized projects it hosts. Ether is a GPU mineable cryptocurrency and is based on the Ethash proof of work algorithm. At the time of writing, if you assemble and optimize an excellent GPU rig, you can expect handsome profits as its current block reward is around 2 ETH per block.

GPUs that are recommended for ETH Mining are NVIDIA as well as AMD.

Ethereum Classic

Ethereum Classic can be mined using a couple of GPUs. It has a higher block reward at 4 ETC and is one of the most profitable cryptocurrencies around. This is despite its higher inflation and scarcity. It works well with both Nvidia and AMD graphics cards.

Dogecoin (DOGE)

Although some people may think that Dogecoin is not a serious currency and just an internet joke, it is a great educational tool. DOGE is the most effective solution for people who want to engage in mining and GPU-mining especially. It is one of the easiest cryptocurrencies to mine. Of course, you won’t get rich but it will provide valuable experience for mining beginners.

If you don’t want to buy an ASIC, you better join a mining pool. Mining pools will let you mine coins together with other DOGE miners so you will get your coins much faster.

Litecoin

Litecoin is one of the most successful Bitcoin hardfork ever. Because it uses Scrypt protocol, it will work even in low setup hardware, making it one of the best GPU mining coins. It is also less volatile than many other altcoins and offers high-speed and moderate transaction fees. It is currently the #5 world cryptocurrency with a market cap of $5.3 bln.

Monero (XMR)

Monero is one of the most unusual cryptocurrencies as it pioneered the era of privacy and private money itself when it comes to the crypto industry. Monero is an open-source private cryptocurrency that is aimed towards people who want to transact funds and messages privately. The ability to be completely private gives Monero a serious use case, as well as a probable long life in the world of crypto. On top of that, Monero recently got included by many wallets. Value miners, which mine cryptocurrencies solely based on their use case and future potential (rather than current profitability), are certainly considering XMR as their cryptocurrency of choice.

Monero is based on the CryptoNightV8 proof of work algorithm. It generates 3.38 XMRs per block, which occurs every 2 minutes.

Recommended GPUs for XMR mining are NVIDIA cards as well as AMD cards.

ZCash (ZEC)

ZCash was ASIC resistant too. Why was? Because since then Bitmain has released special ASIC miners for the ZEC cryptocurrency, so today there’s no point to mine it solo with a GPU. Better join one of the mining pools like Pooling or Minergate.

You can mine ZCash on Nvidia or AMD but the graphic cards by Nvidia give bigger hashrates for ZEC mining than solutions of their “red” competitor.

Bitcoin Gold

BTG is another anti-ASIC cryptocurrency. Despite BTG being based on the same algorithm as ZCash it can resist ASICs. Back in 2018, the BTG team updated the Equihash algorithm to the new Equihash-BTG, so GPU mining is still very much in play. The experts don’t recommend using AMD cards as they don’t perform well. GTX 1050Ti, GTX 1060, GTX 1070, and GTX 1080Ti graphics cards are all good options for mining BTG.

Raven Coin

Raven Coin is a new cryptocurrency launched in 2018. The network is unavailable for ASIC miners thanks to the X16R algorithm, which mixes the X15 and SHA512 algorithm depending on the hash of the previous block. Thus, ASICs don’t threaten the Raven Coin blockchain. The interest in RVN is only growing if we take a look at the mining difficulty chart.

Grin

Grin is a relatively newer cryptocurrency on this list. It is based on the MimbleWimble consensus algorithm which ensures the privacy of transactions within the network. It offers unlimited coins, and the complexity of mining changes dynamically depending on the hash of the network. This is a suitable coin for GPU mining and is totally protected from ASIC miners.

The coin is currently traded on 24 crypto exchanges including Poloniex, HitBTC, KUCoin, and many more.

The most successful coin miners spend hours every week studying the best ways to adjust and improve their coin mining performance.

Conclusion

We hope that this article to crypto mining but also which are the best cryptocurrencies to mining in 2020 was helpful.

We hope that by now you can make a smart decision about which coin to mining. But also how to evaluate which is the best coin to mine for you?

Miner, therefore, requires heavy investments, particularly in graphics card frames (GPUs) commonly known as rigs specially designed to support the algorithms of a single cryptocurrency.

Today, to mine Bitcoin, for example, it is better to have ASIC miners, expensive and only dedicated to this task, and to the 256 algorithms of Bitcoin. If in the case of dedicated miners, you are sure to make the most profits, you will unfortunately not be able to use them for other currencies or other uses.

Besides, a change in the currency algorithm would make your equipment obsolete. If you have chosen graphics cards instead, you would need powerful ones to reach the computing power of a dedicated miner, which requires heavy investments.

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