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Without a doubt, when choosing a cloud mining , users first look at factors such as project profitability and return on investment.
And for good reason, because the number of such sites is only growing and growing. This means that the choice becomes more and more difficult, since it is in human nature to want more and more right now. And that's why we want to believe every project that offers mountains of gold.
But, of course, this cannot be done. Before choosing a project for investment, you should understand the topic and consider several options. Therefore, today we will explore the sites that provide the most reliable cloud mining in 2022.
Relevance of cryptocurrency mining in 2020-2022
In 2022, it was possible to mine most cryptocurrencies from the TOP 100 by capitalization on a video card. In particular, Litecoin/LTC, Bitcoin Cash/BCH, Ethereum/ETH, Dash, Monero/XMR. Mining on ASIC devices turned out to be more profitable. A farm of 4 or more powerful video cards made it possible to mine Bitcoins. In many ways, the profitability of the business was determined by the exchange rate of top cryptocurrencies, which reached peak values in 2022.
The high interest of users in private mining has led to a sharp increase in prices for video cards and ASICs. At the same time, a year later, the BTC rate collapsed.
IMPORTANT. If in December 2022 the cryptocurrency cost about $20,000, then at the end of 2022 it was already $3,200. And after BTC, other market leaders collapsed: Ethereum, Litecoin, Bitcoin Cash and other coins.
In 2022, the cryptocurrency market revived again, and equipment became cheaper. However, by that time, mining coins with the SHA-256 and Scrypt hashing algorithms on a video card had become unprofitable. The reason is the high complexity of generating new blocks and huge competition among miners. I would like to note that mining is not the only option for making money on cryptocurrency, but today we’ll talk about that.
What is profitable to mine now, in 2022? Today, when choosing a cryptocurrency, a miner must consider the following factors:
- Prospects for rate growth To predict potential profits from mining, you need to constantly monitor market news. The more cryptocurrency is discussed, the higher the likelihood of the rate rising in the future.
- Liquidity Refers to the speed at which you can sell cryptocurrency on an exchange. Some new coins are easy to mine, but due to low popularity they are difficult to exchange for fiat: rubles, dollars or euros.
- Market capitalization Shows how many assets in value terms are traded on the market. The higher the capitalization, the lower the risk that the coin will “deflate”. It is better to mine cryptocurrencies included in the TOP 100.
- Hash Algorithm Refers to the methods by which the production power solves the hash function and attempts to generate a new block. Directly affects the difficulty of coin mining. The best cryptocurrencies to mine in 2022 are those based on the Ethash, X11, Cryptonight or Equihash algorithms.
IMPORTANT. The Equihash and Cryptonight algorithms are most suitable for budget mining. They were originally conceived as resistance to ASIC devices.
So, profitable mining is still alive in 2022. Although it requires a powerful video card. Or better yet, a home farm of 4-8 video cards. Equipment costing $1000-1500 pays for itself in 3-3.5 years on average, if you mine cryptocurrencies with a simple hashing algorithm and find cheap sources of electricity.
Ant Miner S5
This mining device is often called an entry-level miner mainly because it is the cheapest. Most miners who used the device were satisfied with the results. However, it is now obsolete given the mining difficulty and reduced rewards. You will not be able to generate more than 0.05 coins in earnings. In short, miners must work for one year and eight months to receive one full BTC. Other miners also said the mining equipment was too loud.
What cryptocurrency is profitable to mine on a video card?
Below we will consider in more detail which cryptocurrency is profitable to mine in 2022. For a profitable business, an Nvidia or AMD video card with a memory capacity of 3-4 Gb is suitable. There has already been an article about how to earn bitcoins using a computer, if you are interested, see the link.
In the meantime, share - what kind of income would you like to achieve, including on cryptocurrency?
On this topic. Freebitcoin faucet is an easy way to earn satoshi.
Ethereum/ETH/Ethereum
Ethereum still remains the main competitor of Bitcoin. At the end of March 2022, the rate is $137.4. The coin is very popular in the market, since the Ethereum blockchain platform is used for concluding smart contracts (for transferring intellectual rights to products).
Ethereum hashing algorithm is Ethash. The time for generating the next block is 15 seconds, and the reward for signing is 3 ETH.
Ethereum is profitable to mine for the following reasons:
- prospects for exchange rate growth in the future;
- the use of the Ethash algorithm, which makes the mining of new coins fast without overloading the network;
- unlimited scalability, which allows you to mine cryptocurrency endlessly.
If you are going to mine Ethereum, consider all types of wallets to store this coin. The most reliable are Mist, MyEtherWallet, Jaxx and Exodus.
ATTENTION. The best ETH mining pools in 2022 are Ethpool, Eth.Nanopool and 2miners.
Ethereum Classic/ETC/Ethereum classic
In the first half of 2022, mining Classic ETC on a video card may be more profitable than Ethereum due to relatively low competition. The same algorithm is used for mining – Ethash.
The block formation time is 13.3 seconds, the reward is 3.88 ETC. At the end of March 2022, the coin rate is $5.1.
Zcash/Zec
One of the best cryptocurrencies for mining on one video card. Has high liquidity. Uses the Equihash algorithm, which is resistant to ASIC devices and accesses the hardware RAM during the mining process. At the end of March 2022, the coin rate is $31.8. The block creation interval is 2 minutes. 32 sec., reward for signature – 12.5 Zec.
To mine Zcash, you do not need to download the full blockchain and operate the miner in command line mode. Download the EWBF Zcash Miner program on your PC and connect to the pool. To mine the Zec cryptocurrency, setting up a miner does not require complex technical skills. The process is intuitive.
ATTENTION. The best Zcash/Zec mining pools in 2022 are Flypool, Suprnova, NanoPool, CoinMine.
Bitcoin Gold/BTG
Bitcoin Gold is one of the most popular Bitcoin forks, splitting from the main network in October 2022. Arose due to concerns about the centralization of mining of the first cryptocurrency. Based on the Equihash algorithm. That is, BTG can be mined on a video card, but to get a good profit you need a high level of RAM.
Block formation time – 10 minutes. 26 sec., reward for signature – 12.5 BTG. At the end of March 2022, the cryptocurrency rate is $7.5.
Monero/XMR
The Monero cryptocurrency appeared on the market in 2014. The main goal of the developers was to create a coin that would ensure maximum anonymity of network participants. XMR uses the CryptoNight hashing algorithm. It can be mined even on budget video cards. The block formation time is 2 minutes. 3 sec., reward for signature – 5 XMR.
Mining Monero has two advantages over mining most coins:
- low power consumption;
- small amount of heat generated.
That is, the miner saves money at least on the cooling system, and the risk of premature equipment wear is reduced. These factors make Monero mining a profitable activity. At the end of March 2022, the cryptocurrency rate is $49.4.
Ravencoin/RVN
The Ravencoin cryptocurrency is another fork of BTC with additional features. Appeared at the beginning of 2022. It uses open source code and is positioned as a platform designed to simplify the transfer of assets and equalize the rights of all network participants.
Ravencoin uses the X16R hashing algorithm, which keeps computational complexity at bay. The time for generating a new block is 1 minute, the reward for signing is 5000 RVN. It is better to mine cryptocurrency on video cards than on ASIC devices. At the end of March 2022, the coin rate is $0.015.
Dogecoin/Doge
The Doge cryptocurrency was introduced in 2013 and is humorously named after an Internet meme. This is a fork of Litecoin using the Script algorithm. The coin quickly gained popularity in the market thanks to competent marketing. However, it is not currently used in serious projects. At the end of March 2022, the rate is $0.00184.
Today, Dogecoin mining is profitable for the following reasons:
- low computational complexity;
- low network commissions;
- little competition among miners.
But there is one nuance - a small hashrate on the pools. Therefore, to get tangible profits, you need to mine Dogecoin on a very powerful video card or build a home farm.
Dash
The Dash cryptocurrency is based on the X11 algorithm, which protects video cards from severe overheating, saves electricity and is resistant to ASICs. A new block is formed in 2 minutes. 38 seconds, and the miner’s reward for signing is 3.6 Dash. The cryptocurrency rate at the end of March 2022 is $68.42.
IMPORTANT. In some cases, mining Dash (for example, when using budget video cards) may not be profitable due to high competition.
BitTube/TUBE
BitTube is another BTC fork and a sensational ICO. The platform positions itself as a cryptocurrency version of the popular video hosting Youtube, free from censorship and centralization. An interesting feature of the project is that users can mine TUBE while watching videos. The miner does not need to install or configure complex software on the computer. The BitTube platform works in any web browser.
Now the cryptocurrency is already traded on well-known exchanges (in particular, Livecoin). TUBE coins can be easily exchanged for BTC and other coins from the TOP capitalization. The cryptocurrency rate at the end of March 2020 was $0.004.
This section of the article deliberately did not provide figures for mining income. They are constantly changing and depend on many factors: the number and technical characteristics of equipment, the current complexity of calculations, the number of miners in the network, the pool hashrate, and the coin exchange rate.
Advice. To predict potential profits, use online profitability calculators (such as nicehash.com). But keep in mind that they overestimate the figures by an average of 15-20%.
What to do with cryptocurrency then? Alternatively, exchange for real money and withdraw to your wallet, for example, Yandex Money - what is it and how to use read
