Over the last decade, Bitcoin and other cryptocurrencies have gained popularity. And all these cryptocurrencies are considered very fast-growing inventions and also an exciting innovations. That’s why too many people are in search of the easiest cryptocurrency to mine.
So, we are here to help you to find the easiest mining techniques. In this advanced technology world, the adoption of different cryptocurrencies is increasing day by day. The reason behind this, it is the best and simple way to earn passive money.
However, there are too many ways to earn money in cryptocurrency, like holding your crypto funds till the profitable option and many others. But all the earning ways are related to the mining process.
According to the expert, the easiest cryptocurrency which you can easily mine is that it doesn’t demand you to build powerful mining rigs. The main thing that is beneficial for you is that you can easily mine crypto with the help of desktops and laptops.
Now, crypto mining is straightforward from home. This article will tell you different cryptocurrencies to mine, how to mine cryptocurrency on a PC, and many other things.
Common Cash Out Methods
You have earned money and want to know how you can cash out Bitcoin. So, in this guide, you will find how to do this. There are too many ways to cash out the Bitcoin; some of them include:
Using Broker Exchanges for Cashout Bitcoin
If we talk about the third-party broker, then it is the name of the exchange. But in reality, some exchangers will allow you to withdraw funds in fiat money, and some will not allow this. In the process of broker exchange, you have to deposit Bitcoin to the exchanger.
When the exchanger receives the Bitcoin, then you can send a request to withdraw in the shape of fiat money. The best way to do this is with the help of a bank transfer. But the thing you have to make sure of is that an exchanger does not break the laws of money laundering.
If you have ultimately decided to cash out the Bitcoin with the help of a broker, then it will take 1 to 5 days. However, if you want to sell USD Bitcoins, then in this condition, the broker will use the swift payment method.
Platforms For peer-to-peer Bitcoin Transfer
It might be possible that you don’t have time to wait for 3 to 5 days to cash out the Bitcoin. Then in this situation, you have the second option which is peer-to-peer Bitcoin transfer. The platform that you can use in this process is LocalBitcoins.
At the time of using the LocalBitcoins, you have to select the payment methods, mostly used payment methods include:
Bank Transfer:
In this method, you have to ask the buyer to send a bank transfer payment. But have to make sure that it is compulsory to ask the buyer to send an ID proof before using this method. And when you receive the payment, then you have to send the Bitcoins to the buyer.
Cash Deposit:
The second method to cash out the Bitcoins is to ask your buyer to send payment into your bank account. But before releasing the Bitcoins, you have to ask for the ID and payment proof.
Face To Face Meeting:
The other safe method to cash out Bitcoins is to arrange a meetup. If you have selected the local buyer, then this method is the perfect option. With the help of this method, your buyer will pay cash and receive Bitcoins.
Take Care of These Things First
We know that all profitable activities contain good things, but they also contain terrible stuff. So you have to be familiar with all these factors at the time of cryptocurrency mining.
Losing Your Digital Wallet
There are too many methods for doing it, including locking yourself if you have forgotten your login info and damaging the hard drive.
Dishonest Mining Pool Organizers
If a corrupt administrator runs the mining pool, then it might be possible that they will take up the coins out of your whole earnings. The other possibility is some mining pools take a fee for membership. In this situation, you can earn a low profit.
Electricity Costs could Make your Mining Unprofitable
If you are a person who is mining on a computer, then you have to pay the electricity fee. The average rate is 14 cents per hour, and it is the best rate, but if the rate is more than 14 cents, it may not be considered a worthwhile investment.
Hackers
It is a possibility that a high-level hacker will break the mining pool you own and also take all the money from your wallet.
The Cryptocurrency you Mine could Drop in Value
After earning too much, you have decided that you don’t want your coins to sell and hold them for some time. Then suddenly, there can occur a market crash, and your crypto coin’s value will fall. This thing will end up in an enormous loss, this is a dangerous risk, and you should try to avoid it.
Good Habits
Good habits include you should store your wallet coin on a removable memory drive. Because at the time when you are not utilizing it you can detach it from your laptop or computer. The other good habit is to utilize online storage to transfer your coins in a detachable memory drive.
It would help if you adopted a habit of doing backup your wallet regularly, especially after every three or four days. You must have to write down your password to keep it safe, and you don’t have to click on the random links.
A Reputable Mining Pool/Cloud Service
There are too many reputable mining pools present that come with the best online communities. All these reputable mining pools are the best choice. Some of them include Genesis, Minergate, Hashflare, Minex, and many more.
Lock Your Electricity Fees
There are too many electricity providers that provide you the opportunity to lock your electricity fee for one or two years. If you lock your electricity fee at about 14 cents or fewer per kWh, it is best for you to do then. If the rate is lower, like 10 cents, it is an excellent opportunity for mining and you.
List of Easy To Mine Cryptocurrencies
Now, you will find too many cryptocurrencies to mine, but the easiest coin to mine includes:
Ravencoin
Ravencoin is the most famous cryptocurrency, and the reason behind this is the X16R algorithm. The X16R algorithm is used for the mining work proof. It is considered one of the easiest cryptocurrencies to mine; you can go for it.
Do you know what the X16R algorithm is? Let me explain it to you. It is a 16 combination of 16 different algorithms. It is used at the time of mining in random order, and it also depends on the previous block hash.
Grin
It is a new addition to the cryptocurrency for mining, and nowadays, it is considered among the best crypto. The hardware that you need to mine with Grin crypto includes:
AMD Cards: Vega64, 570, Vega65, 580
NVidia Cards: 1080ti, 1070, 2070, 1070ti, 2080ti, 1070ti, 2080, 1080
The important thing you have to note is that this is not a complete list, but it will work if you hold a card from the above-given list.
ZENCash
The other crypto for mining is ZENCash, and it is also included in the list of best crypto mines. If you are a person who wants to hold the mines, then in this situation, you have to set up the safe nodes.
The nodes will generate a 25% ROI annually, and with this, you will have more money than without the nodes. The best thing about the secure nodes is that they will not lock your tokens. Thus, if you wish to sell your mines, you can sell them freely and move your cryptocurrency.
Metaverse (ETP)
The other easiest cryptocurrency to mine is Metaverse; basically, this crypto was introduced by China. The main goal of this crypto is to provide the facility to transfer low-cost properties, identities, and digital assets.
But the main problem with this crypto is there is less chance of success if you quickly convert the ETP into another cryptocurrency. Then in this way you can gain a profit.
QuarkChain (QKC)
The next crypto to mine is QuarkChain. It is the easiest cryptocurrency to mine on a laptop. The main motive of this crypto is to provide you with a safe and secure blockchain solution. You can deliver the chain of more than 1,000,000 TPS.
If we talk about the fantastic features, includes smooth account management, safe transaction, two-layered blockchain, pooled mining, and horizontal scalability. You can trade your coin with the help of HitBTC, Binance, and also Gate.io.
Bitcoin Gold (BTG)
If we talk about GPU mining, then Bitcoin Gold is the preferable coin. It is a branch of Bitcoin that comes to expel the ASICs and allows you to mine with GPUs.
Monero (XMR)
Monero is the most profitable coin that always focuses on privacy and uses the function that is RandomX hash. It was introduced in 2014; at that time, its name was BitMonero, and after some time, the community changed its name to Monero.
It is the same as Vertcoin; it is a killer of ASIC, making it the most profitable coin in the market. Other than this, you can easily set up the mining rig; when you acquire the wallet, then you can download the mining software.
Dogecoin
Dogecoin is another famous cryptocurrency that is mineable with the help of your PC or laptop. It is not the best crypto to mine for your kind information, but you can still earn money from it.
Too many users loved the features and the idea of Dogecoin, and the most exciting thing about this crypto is it is holding on 34th place on the list of most significant coins. The algorithm that this coin used is the hash algorithm.
If you want to mine with Dogecoin, then first, you have to download the desktop application from its official website. If we talk about the best software that you can work on at the time of mining with Dogecoin is GUIminer, CGminer, and CudaMiner.
Frequently Asked Questions (FAQs)
Which Crypto is most profitable to mine?
The most profitable cryptocurrency to mine is Monero (XMR). It is the other anti-ASIC coin that gives importance to equity in mining crypto. If we talk about the market capitalization of this coin, then it is $3 billion, which makes it the most profitable Crypto.
Is it worth mining Cryptocurrency 2020?
The answer to this question is yes. But the reality is if you need a short answer, then it is yes, and if you need a comprehensive solution, it isn’t straightforward. The reason behind this is that Bitcoin mining is the paid hobby of too many users, and it is a source of income for some people.
How long does it take to mine 1 Ethereum?
It takes 12 seconds to mine 1 Ethereum. However, if you want to mine a block of Bitcoin transactions, it will take 10 minutes.
How can I get free Eth?
It is effortless to get the free ETH; you have to sign up on the Idle-Empire and then watch videos, complete different offers and do some paid surveys. In this way, you can redeem Ether points and have the opportunity to send them to your Coinbase with no fees.
Can I mine Ethereum on my phone?
It is a fact that Crypto mining always needs high processing power. But the main thing is that Apple and Google don’t allow anyone to mine Ethereum on their phone.
Conclusion
It would help if you kept in your mind that mining cryptocurrency comes with too many risks. So, we recommend that you don’t have to invest too much in mining; otherwise, you can’t afford the significant loss.
However, the easiest cryptocurrency to mine is given above; you can start mining with one of them.
