What altcoins will be most profitable to mine in 2022? That’s the question that everyone who invests in cryptocurrency is asking themselves right now. Here are my top picks, along with reasoning on why they are my top picks.
The Future of Mining
Cryptocurrency is constantly changing and evolving. As we move into 2021, there are a few things we can predict about the mining landscape. First, energy-intensive proof-of-work (PoW) coins will continue to lose value, while more eco-friendly proof-of-stake (PoS) and proof-of-importance (PoI) coins will gain popularity. Second, ASICs will become increasingly obsolete as newer, more powerful mining rigs are released. Third, smaller coins with lower hashrate will become more profitable to mine as the difficulty of major coins like Bitcoin increases. Lastly, cloud mining will become more popular as it offers a convenient and cost-effective way to mine cryptocurrencies. These five altcoins should be on your radar if you’re interested in cryptocurrency mining.
The first altcoin that should be on your radar is SolarCoin (SLR). SolarCoin was created by an international non-profit organization that incentivizes renewable energy use for future generations. You can only buy or sell SolarCoins through exchanges and you cannot generate them on your own computer or phone, so this means its circulation remains finite and decreases over time because it cannot be mined without an incentive for renewables.
Next up is Ardor (ARDR). Ardor has been around since 2017 but it really took off in 2018 due to its strong community support system which allows users to earn passive income by delegating forging power to other members on the network. Ardor’s blockchain technology also makes it difficult for phishing websites to steal user data because transactions are not processed via centralized servers.
The third coin worth keeping an eye on is Veros (VRS). It has a low market cap, meaning that even though it trades well under $1 USD per coin at the moment, VRS could experience substantial growth in the coming years.
The best altcoins for mining
1. If you’re looking for a profitable mining opportunity in 2022, altcoins are definitely worth considering.
2. While Bitcoin will always be the king of cryptocurrency, there are a number of altcoins that have the potential to be quite profitable for miners.
3. Ethereum, Litecoin, and Monero are all good choices for miners looking to make a profit in 2022.
4. Bitcoin Cash and Dash are also decent options, although they may not be as profitable as the three mentioned above.
5. Ethereum Classic is another possibility, although its profitability will likely depend on whether or not it can continue to attract users and developers.
6. It’s possible that some other cryptocurrencies might emerge with better chances of being profitable than any of those listed here, but this list should give you a place to start.
7. No matter which coins you choose, though, always keep in mind the risks involved with investing any amount of money into cryptocurrency mining.
8. Mining takes a lot of electricity (even more so if you want to mine bitcoin), and if the price drops suddenly after your purchase your profits could disappear almost instantly (meaning buy only what you can afford).
9. Regardless of how much money someone invests into crypto mining, it should never be done without careful consideration because crypto markets are notoriously volatile.
10. One other thing to remember when mining cryptocurrency is that mining difficulty tends to increase over time.
11. There are ways around this–for example, joining a mining pool allows miners to share their efforts and split rewards–but it’s still something you need to think about before diving in head first.
2020 altcoin profitability
If you’re looking to get into altcoin mining in 2020, there are a few things you’ll need to take into account. First, what are your goals? Are you looking to simply make a profit, or are you hoping to find the next big thing? Second, what hardware do you have available? While some coins can be mined with CPU power alone, others will require an ASIC miner. Finally, what is your budget? Depending on the coin you choose to mine, you may need to invest in expensive equipment. With all of that in mind, let’s take a look at some of the best altcoins to mine in 2020! Ethereum (ETH) – Ethereum is one of the most popular and well-known cryptocurrencies around, which means it’s also one of the most profitable coins to mine. What sets Ethereum apart from other cryptocurrencies like Bitcoin and Litecoin is its ability to use smart contracts – programs that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference. It should come as no surprise then that ETH has been gaining traction ever since it was introduced in 2015 and continues to grow strong today. If you want to start mining Ethereum, I recommend buying an AMD RX Vega 64 graphics card. While this GPU isn’t cheap, it does offer very high hash rates for the currency and provides excellent efficiency for both newbies and experienced miners alike. Monero (XMR) – As one of the top ten cryptocurrencies by market cap, Monero is a great choice for those who want to earn money with their CPU power.
What if bitcoin fails?
‘While it’s impossible to predict the future, it’s important to have a Plan B in case bitcoin fails. Here are a few altcoins that could be profitable to mine in 2022 if bitcoin were to fail Monero – ASIC-resistant and currently can only be mined with CPU mining (which means more competition). Ethereum Classic – A fork of Ethereum created as a result of The DAO hacking. It can only be mined with GPU mining and will still produce currency even when there is no more Ether left. Zcash – As a privacy coin, Zcash can’t be traced back by miners or transaction parties which makes it one of the most popular altcoins for 2019 and 2020. However, because of its complexity and differentiating technology from other coins like Bitcoin, it has proven to be challenging for mainstream adoption. Nevertheless, this doesn’t mean that Zcash won’t become one of the best coins to mine in 2022 due to its recent success at being accepted into Coinbase Pro. Dash – Dash has been around since 2014 but became known as Darkcoin until 2015 before rebranding itself as Dash in 2016. Its price doubled this year and ranks among the top 10 coins on CoinMarketCap with a market cap of $2 billion USD