When bitcoin first appeared at the scene in 2009, bitcoin was mined using a CPU (central processing unit) on any basic computer. That lasted for several years until miners learned how to use a more powerful GPU (graphics processing unit).
While it is still possible to mine altcoin with GPUs (or even CPUs) lately, bitcoin and most others have exceeded accessibility for home miners. In 2018, most mining will be carried out using strong ASIC (application-specific integrated circuit) rigs that have been made specifically for mining.
While ASIC mining rigs are good for miners who have lots of space and cheap electricity access, they are not so good for the actual blockchain network because they promote centralization. Some believe that centralized mining gives miners too much power in the network, and there is always a 51% risk of attack when mining becomes too centralized.
That alone is a good reason for altcoin to hold ASIC. For ordinary miners, the best reason is that these coins can still be accessed on a home computer.
Crypto Mining Profitability Changes Quickly
Although we have tried to highlight the best coins for crypto mining in 2019, it’s good to remember that the blockchain space is very fast moving. Some new discoveries in space or the introduction of new features or algorithms can change everything in a few days.
One good source for getting the latest information about altcoin that is profitable to be mined is Coinwarz, which stores an updated altcoin database and the benefits of mining it. You can find similar information at WhattoMine.com. The main difference between the two is that Coinwarz compares profitability with bitcoin mining, while WhattoMine compares profits with Ethereum mining.
Coinwarz is currently the top five, compared to bitcoin.
WhattoMine is currently the top five, compared to Ethereum.
You most likely won’t get rich by mining any altcoin. While it’s true that some people became very rich by mining bitcoin in the early days, those days are gone. Currently, mining is a good way to understand how blockchain works, and it can be a fun hobby with a small return.
If you are lucky, you might mine coins which then go to the moon, which means your mining efforts can be more profitable than you can imagine today.
5 Choices of Good Crypto Mining for 2019
Here are the top five coins for crypto mining in 2019. Some are older coins that remain resistant to ASIC mining, and others are new coins that have been launched in the last 12-24 months, also with the aim of remaining free from ASIC Mining.
Although Ethereum remains the third largest altcoin based on market capitalization and can be mined by ASIC rigs, it is still profitable for GPU miners as well. Most of the reasons for this are the extreme decentralization of the Ethereum network. With that unlikely to change, Ether mining crypto should remain profitable throughout 2019. Another benefit for Ether mining is that because Ethereum is one of the leading blockchain projects, it is unlikely to disappear anytime soon. In fact, Ethereum supporters expect it to take over bitcoin as the top cryptocurrency in the end.
Monero is really going back and forth between profitability and small losses. So you have to watch to determine if it is profitable to be mined at a certain time. The benefit for Monero, and the only reason he remains on the radar for 2019, is that it is the top privacy-centric altcoin, as well as being the largest based on market capitalization.
Many early blockchain adopters like Monero because of privacy and anonymity. It has become very popular among GPU miners as well because the Monero development team is committed to keeping Monero ASIC-resistant. They were so committed to this path that they changed their previous consensus algorithm in 2018 in response to the release of an ASIC rig capable of mining Monero.
That’s another reason to like altcoin throughout 2019. You can be sure it will still be accessible to home miners using a simple GPU.
Zcash is one of altcoin-centric genuine privacy, and remains very profitable for home miners, despite the fact that it can be mined using ASIC rigs. In fact, the Zcash development team made the decision specifically not to change their consensus algorithm to remain resistant to ASIC. Otherwise, the best target for altcoin mining in the coming year.
Horizen promotes privacy and anonymous transactions.
Like Zcash, the Horizen team decided to embrace the ASIC miners because they found it made their network more stable and secure. Even so, it is still a profitable coin for GPU crypto miners.
Vertcoin considers itself a “people’s coin,” and was developed with special property to ensure that it remains ASIC resistant. In fact, the developer is probably the most powerful ASIC development team. So it is a good bet that it will still be a good altcoin for me to use using your GPU.
Vertcoin also has special miners created specifically for mining VTCs. This is probably one of the easiest miners to use. After downloading and installing the miner, all you need to do is join the mining pool and you are done.
Other Altcoins to Consider for Crypto Mining
There are some altcoins that look resistant to ASIC, but honestly, they are not able to show profitability in the 2018 bear market for cryptocurrency. Some other altcoins that hold ASIC include Dashcoin (DSH), Aeon (AEON), and Loki (LOKI).
Other good coins to be mined include Ethereum Classic (ETC), Bytecoin (BCN) and Electroneum (ETN). Bitcoin Cash SV (BSV) has been very profitable since the hard fork that made it on 15 November 2018, but there is no way to know whether it will continue because it is a new coin. The original Bitcoin Cash (BCH) has also been profitable to be mined at the end of 2018.