What cryptocurrency to mine in 2021

What is the relevance of cryptocurrency today? What cryptocurrency is profitable to mine now? Rating of the best cryptocurrencies for mining

More and more new players are constantly appearing on the cryptocurrency market. Right choice kriptovalyuty will improve your financial well-being. The difficulty lies in the fact that it will definitely not work to answer the question of which cryptocurrency is now profitable to mine. One can only assume the level of growth of the most demanded and fastest growing virtual money.

Are bitcoins still relevant?

When studying highly profitable cryptocurrencies, it is impossible not to remember Bitcoin. This is the first virtual electronic currency, which has provided many users with the opportunity to receive a source of income at home. For the period 2009-2012, income from of mining could be easily obtained with a PC and a powerful video card. However, the process of mining virtual coins has become more complicated over time. At the moment, mining requires significant financial investments for the acquisition of more powerful technical devices, such as ASIC devices.

The main work of the miner is to support the communication channel, and constantly increase the performance of the equipment used. The use of ASIC microprocessors requires high costs, and the approximate payback period, taking into account the current cost of Bitcoin, is about 1,5 years. The minimum performance requirements for the power level of video cards and other computer equipment are increasing daily, which means that additional costs for its modification will be required regularly.

What cryptocurrency is profitable now?

In the middle of 2016, a significant event took place, which became a key one for most miners. The “Bitcoin halving” led to a reduction in the size of the premium for 1 block by 2 times. Up to this point, the miner was assigned 25 bitcoins, now this figure has been halved - and is 12,5 bitcoins. Experienced miners remember that the previous “halving” was 5 years ago, in 2012. After the last halving, opinions began to be voiced about the meaninglessness of mining. However, practice has shown that this is not the case at all. And after some decline, the price of Bitcoin's began to grow, and the available reward for mining was quite enough to pay off investments in equipment. A similar situation is observed now.

Therefore, the “halfing” of the cryptocurrency did not affect the profitability of mining in any way. This is due to the increase in the cost of Bitcoin by more than 2 times. If this trend continues, the volume of premiums received will satisfy the material needs of even the most greedy users. This allows us to conclude that Bitcoins are an effective way to make a profit.

It is also worth talking about other cryptocurrencies, which during 2021 distinguished themselves by the maximum growth in the virtual money market. Due to their diversity, you can decide which cryptocurrencies are profitable to create in 2021. These include Ethereum, Litecoin, Monero, Ripple, and Dash.

The main task of crypto network participants is extraction of crypto currency, for the further preservation and increase of funds. The first place in the list of the most profitable cryptocurrencies is occupied by Bitcoin, followed by Ethereum and other virtual money.

Advantages of electronic money:

• The commission for transactions made is minimal or not charged at all.
• Guaranteed safe transfers.
• Efficiency of transactions.

Which cryptocurrencies are as profitable as Bitcoins?

1. Efirium. Like Bitcoin, this cryptocurrency is characterized by significant growth. Since the beginning of 2017, the Ethereum exchange rate has risen from $40 to $280. This rise makes working with this currency very profitable.
2. Laytkoin is one of the most profitable types of cryptocurrency for mining. This definition is confirmed by the long-term upward trend in the value of the currency. This year, the growth of Litecoins in a few months amounted to about $30 per 1 Litecoin. According to experts, this trend will continue at least throughout 2017.
3. Dash is a relatively new virtual currency. Experts believe that the development of Dash will be similar to Bitcoin. This electronic currency began its rapid growth, and from the mark of 11 dollars for 1 monetary unit, the Dash rate increased to 175 dollars. This is a very promising virtual currency, as the upper limit of growth will not be realized soon.
4. Ripple is a cryptocurrency that has seen significant growth this year. So, in recent months, the cost of 1 ripple has increased significantly. What makes Ripple one of the most highly profitable cryptocurrencies.

What conclusions can be drawn about the effectiveness of cryptocurrencies for mining?

From the above, it is obvious that there are more than enough profitable currencies for mining. However, it is worth remembering that these are only approximate recommendations for users. The difficulty is that no one can provide a forecast of the growth trend in the cryptocurrency market with 100% accuracy. Since the profit from mining a particular cryptocurrency largely depends not only on the current rate, but also on the possible “halving”.

This means that a miner who wants to know which cryptocurrencies are profitable to mine in 2017 and make a profit needs to be guided by both current market trends, assess a possible increase in equipment costs, and also take into account the risks from a currency decline. The amount of income received from mining entirely depends on a competent and balanced approach to the analysis of all these factors.

Best regards, Money Hunters.