Crypto mining is the process of solving complex mathematical puzzles to secure blockchain transactions and earn crypto assets.

This article is going to list the best coins to mine in 2024, offering detailed reviews and practical mining advice. We delve into where and how you can mine these coins effectively, and share tips on identifying the most rewarding mining opportunities.

Best Crypto to Mine in 2024

  1. Bitcoin – Overall Best Coin to Mine in 2024
  2. Ethereum – Best Crypto for Long-Term Investments
  3. Dogecoin – Top Meme Coin to Mine
  4. Ethereum Classic – Hard Fork of Ethereum
  5. Helium – Cryptocurrency Powering LongFi for Internet of Things
  6. Solana – Blockchain With Smart Contract Capability
  7. Cardano – Sustainable and Programmable Blockchain
  8. Vertcoin – Crypto With ASIC-Resistant Mining Algorithm
  9. Monero – Cryptocurrency for Privacy
  10. Ravencoin – Crypto Network That Tokenizes Assets

A Closer Look at the Best Coins to Mine

1. Bitcoin – Overall Best Coin to Mine in 2024

Since its invention more than a decade ago, Bitcoin remains the most popular cryptocurrency. Needless to say, there is still ever-growing demand for this digital token.

The price of Bitcoin is hovering at around $46,52o.51 at the time of writing. However, not too long ago, in November 2021, the value of a single BTC token had reached an all-time high of about $68,000. It is also worth noting that Bitcoin has a hard cap supply of just 21 million tokens.

bitcoin price

This means that the value of Bitcoin could increase as years pass by, especially if this high demand is maintained. All that being said, Bitcoin mining is generally considered resource-consuming and expensive. One way around this is to use cloud mining platforms such as ECOS.

Investors can simply buy a Bitcoin mining contract from ECOS and receive the BTC yield added to their account. This way, ECOS allows its users to benefit from Bitcoin mining easily and passively. Alternatively, ECOS also lets its users invest in Bitcoin via one of its pre-designed portfolios.

Cryptoassets are a highly volatile unregulated investment product.

2. Ethereum – Best Crypto for Long-Term Investments

After Bitcoin, Ethereum holds the position as the second most “mineable” cryptocurrency. The Ethereum network is also a technological platform that hosts numerous services, such as smart contracts and NFTs. Thus, this blockchain is widely used to build and deploy decentralized applications.

The coin was first launched in 2015, at an ICO price of just $0.30. Today, at the time of writing, a single ETH token is traded for about $2,321.13.

ethereum price

This translates to an increase of nearly 500,000%. Moreover, Ethereum is undergoing a transition to a Proof-of-Stake consensus mechanism, which will make it cheaper and faster. Given these considerations, Ethereum is perhaps the best crypto to mine for long-term investors.

Cryptoassets are a highly volatile unregulated investment product.

3. Dogecoin – Top Meme Coin to Mine

Dogecoin has the reputation of being one of the best meme coins in this industry. Although the coin doesn’t have any real-world utility, it has impressive community support that drives its price. That being said, the market sentiment towards this coin is notoriously volatile, and so is its price.

Even when going through a mining pool, it takes less than a minute to validate a single DOGE token and add it to the blockchain ledger. The profitability, of course, will depend on the market price of the token.

dogecoin price

Although Dogecoin’s market capitalization has diminished since its all-time high in 2021, it is still one of the most popular cryptocurrencies. The coin is becoming more widely accepted as a payment method and is available to purchase via most crypto exchanges. Traders can also consider automated portfolios offered by the likes of ECOS when investing in Dogecoin.

Cryptoassets are a highly volatile unregulated investment product.

4. Ethereum Classic – Hard Fork of Ethereum

Ethereum Classic uses a Proof-of-Work consensus and relies on miners to secure the network. This cryptocurrency is a hard fork of Ethereum and it also offers support for smart contracts. However, the project has not been able to replicate the success of Ethereum in terms of market capitalization and token holders.

That said, with Ethereum shifting to a PoS blockchain, it is believed that some miners could jump over to Ethereum Classic instead. This might help Ethereum Classic become more stable and secure. Furthermore, unlike ETH, ETC has a fixed supply of just over 2 billion tokens.

ethereum classic price

In other words, there are a few different factors that can boost the long-term adoption of Ethereum Classic. However, once again, the profitability of mining Ethereum Classic will largely depend on how the coin performs in the open market. 

Cryptoassets are a highly volatile unregulated investment product.

5. Helium – Cryptocurrency Powering LongFi for Internet of Things

Before investing, seasoned traders tend to look at the real-world use cases of a cryptocurrency. In this regard, Helium takes the cake. The objective of the Helium network is to facilitate longevity for the Internet of Things and the devices connected to it.

Users can install Helium routers at their homes or any other location and earn HNT for providing connectivity. Alternatively, it is also possible to gain access to Helium tokens via mining. In fact, Helium has the reputation of being one of the easiest coins to mine.

helium price

As with most other cryptocurrencies, Helium is also going through a bear market at the time of writing. However, some analysts predict that the utility of the network might increase in the future. Therefore, there are potential advantages to mining Helium in 2024.

Cryptoassets are a highly volatile unregulated investment product.

6. Solana – Blockchain With Smart Contract Capability

Like Ethereum and Ethereum Classic, Solana is another blockchain that supports smart contracts. Hence, developers can use Solana to build decentralized apps. However, the main draw of this blockchain is that it facilitates fast and cheap transactions.

Additionally, Solana Pay is also gaining traction among global merchants as a free-to-use payments framework. In terms of architecture, Solana utilizes a hybrid protocol that mixes proof-of-stake with proof-of-history. This means that SOL tokens cannot be technically mined.

Solana price

However, the way around this is to join a mining pool and stake SOL tokens. Individuals can find a platform that supports crypto staking and deposit their Solana tokens to generate interest. For an investor who believes in the future prospect of Solana, being able to stake SOL tokens for a passive income could be a notable advantage.

Cryptoassets are a highly volatile unregulated investment product.

7. Cardano – Sustainable and Programmable Blockchain

Solana’s biggest competitor in the crypto market is Cardano, another programmable blockchain. It was designed to support smart contract functionality and facilitate fast transactions. However, it has the advantage of being the first blockchain to be developed using evidence-based methods and peer-reviewed research.

Cardano’s native token, ADA, can also be mined via staking – like Solana.

Cardano price

There are both centralized and decentralized platforms that offer Cardano staking facilities. By depositing ADA coins into a staking pool, investors will be able to receive a yield without having to do any work by themselves. The returns they collect will be in proportion to the number of ADA coins staked.

For those interested in mining ADA coins, be sure to check out our Cardano price prediction first.

Cryptoassets are a highly volatile unregulated investment product.

8. Vertcoin – Crypto With ASIC- Resistant Mining Algorithm. 

Vertcoin is a digital token that was developed with the aim of making crypto mining accessible to everyone. To elaborate – this token cannot be mined with ASIC equipment. Instead, miners will have to use other hardware options such as CPUs and GPUs.

In fact, Vertcoin mining can be done with 2GB GPUs. It is even possible to mine VTC tokens via smartphones these days.

vertcoin price

However, the market performance of this cryptocurrency is nothing to write home about. The token had an excellent run at the end of 2017, but since then, the price has not increased significantly.

Regardless, many deem Vertcoin as the most profitable crypto to mine, especially since GPUs and CPUs are cheaper than ASICs. 

9. Monero – Cryptocurrency for Privacy

Monero is thought to be one of the easiest coins to mine using GPUs or CPUs. However, GPUs are supposedly more efficient and are recommended by the Monero network. The standout feature of Monero is that transactions are untraceable.

Unlike other cryptocurrencies such as Bitcoin or Ethereum, Monero does not have a trackable transaction history. As such, the blockchain has been able to maintain the confidentiality of its network users.

monero price

In terms of market performance, Monero is highly volatile. Nevertheless, due to its privacy-centric nature, the coin is widely viewed as an excellent investment in the long term.

10. Ravencoin – Crypto Network That Tokenizes Assets

Launched in 2018, Ravencoin was the result of a Bitcoin hard fork. This coin can be mined using 4GB GPUs – which is relatively low when compared to most other cryptocurrencies.

Furthermore, Ravencoin has low crypto gas fees, which is another aspect that attracts miners. Once mined, Ravencoin can be used to tokenize real-world assets such as gold, stock, or virtual goods. Ravencoin can even issue credit such as gift cards and reward points in the form of tokens.

ravencoin price

Needless to say, Ravencoin has several use cases in the real world.

Where to Mine Cryptos

Typically, crypto mining is performed using sophisticated hardware that has the capability to solve extremely complex computational math problems. This requires significant technical expertise as well as monetary investment.

For this reason, cryptocurrency mining is generally considered costly and rarely rewarding. However, today, there are facilities that allow investors to profit from crypto mining without needing to have thousands of dollars to buy expensive hardware. These are called cloud mining services. In simple terms, miners will outsource the equipment from a third-party provider that solves crypto hashes through a cloud mining contract.

This eliminates the need to purchase any expensive physical hardware or require any technical proficiency. Instead, individuals are able to generate passive income simply by entering into a contract with the cloud mining platform.

ECOS – The Best Cloud Mining Platform

logoECOS is the best way to go for those wondering how to mine crypto easily and cost-effectively. This platform combines several useful services such as a crypto exchange, pre-designed portfolios, and cloud mining. Investors can rent the hash power needed to mine Bitcoin by choosing ECOS.

This means there is no need to buy expensive mining equipment or worry about high electricity costs. Users also need not concern themselves with the maintenance of the equipment. Rather, ECOS will take care of all that, and users can collect a BTC yield by purchasing a contract from this platform.

Individuals will have to pay a fixed amount to use the mining devices located in the ECOS data center. The minimum cost of an ECOS cloud mining contract is $149. The price also varies depending on the parameters of the contract – such as the duration, projected BTC value, and service fee.

ECOS

To make the process easier, ECOS also comes with an in-built calculator that shows the projected daily mining income. The platform charges a fee of 1TH/s per day. This will be deducted in BTC from the user’s earnings.

In addition to this, users will also have to pay a fee when withdrawing their earnings. This charge will depend on the specific blockchain network’s congestion at the time of withdrawal. ECOS lets its users choose between regular or priority settings when processing a withdrawal.

ECOS is based out of Armenia and is the main company behind the Free Economic Zone of the country. As such, ECOS benefits from 0% taxes and import/export customs duties. This is one of the main reasons why ECOS is able to offer cloud mining at a competitive rate to users across the world.

Cryptoassets are a highly volatile unregulated investment product.

How to Mine the Best Crypto Coins

The best way to easily and securely mine crypto is through a cloud mining platform. As we mentioned above, our platform of choice is ECOS. Therefore, let’s take a look at a step-by-step breakdown of how to mine crypto.

Step 1: Open an ECOS Account

As with the majority of cloud mining platforms, ECOS requires users to open an account. To get started, visit the ECOS website and click on the ‘Sign Up’ button that can be found on the homepage.

To register as a user, individuals will need to provide their email address and phone number. ECOS will send a passcode to both the email address and phone number to verify them.

ECOS

Users will also be required to assign a password to secure the account. The registration process can also be done via the ECOS mobile app, available to download on both Android and iOS devices.

Cryptoassets are a highly volatile unregulated investment product.

Step 2: Choose a Mining Contract

As we pointed out earlier, ECOS offers cloud mining services. Users can simply buy a mining contract from ECOS and receive the yield added to their account on a regular basis.

At the time of writing, ECOS supports only Bitcoin mining. With that being said, ECOS also supports diversified mining contracts that contain a broad selection of cryptocurrencies.

Nonetheless, ECOS users can pick from one of the pre-designed contracts, or create a custom plan using the in-built calculator.

ECOS

The duration of the contract is measured in months – with the minimum being 12 months. The maximum contract duration can be as long as 50 months. In a custom contract, users will also have the option to set the price they want to pay and the duration.

If the data offered by the calculator is not enough, users can also reach out to the technical support team to create a tailored contract. Moreover, ECOS also has a demo mining feature that can be helpful for first-timers.

Step 3: Buy Contract 

After choosing the contract, users can proceed to make a payment. ECOS accepts payment via Bitcoin, credit/debit cards, or a bank transfer. If choosing a credit/debit card, a processing fee of 2.5% will be added.

Bear in mind that the cost of the contract does not include the service fee of 1TH/s per day – which will be deducted from the account later. Once the purchase is made, the contract will be activated automatically.

Users will then be able to monitor charges via their personal account, where they can track the yield and profitability for each day.

While ECOS is known as a cloud mining platform, it also provides access to a crypto exchange.

How to Find the Most Profitable Crypto to Mine

Now that we have covered how crypto mining works, let us consider the next important concern – choosing the right digital token.

Unfortunately, there is no one-size-fits-all answer to the question – which is the best cryptocurrency to mine? Instead, individuals will have to take into account a number of variables, which we discuss below. 

Future Potential of the Coin

One of the most obvious aspects to consider is how the chosen cryptocurrency is performing in the open marketplace. No matter how many tokens one can mine, if the cryptocurrency does not have any demand in the market – all efforts will be in vain.

For instance, both Bitcoin and Ethereum are considered to be good long-term investments due to their widescale adoption and large market capitalizations.

Similarly, cryptocurrencies such as Solana and Cardano also have value propositions that make them attractive in investment terms. In other words, it could be a smart idea to mine coins that have a good chance of increasing in value in the future.

Likewise, investors should also be cautious before mining any new or upcoming cryptocurrencies – which promise high returns.

Looking for the newest cryptocurrency to mine might not be the best approach to take, as it comes with a high level of risk. This is because there is no guarantee that a new project will become successful.

Cost of Mining

If we haven’t made this clear already – conventional crypto mining is, by all means, an expensive endeavor. Even if miners choose GPUs or CPUs instead of ASICs, the setup costs will still come to a few thousand dollars. The hardware specifications required to start mining also differ from one cryptocurrency to another. On top of this, there are ongoing expenses to consider – such as the cost of electricity and the maintenance of the equipment.

While cost might not be a significant issue for everyone, for some miners, this might be the deciding factor.  Therefore, it might also be a good idea to choose mineable coins based on the investment required.

Mining Yield

The best cloud mining platforms offer a convenient calculator that offers a breakdown of the estimated payout on the chosen crypto.

We particularly like ECOS for this purpose, which offers projected yield in terms of percentages. This makes it easy for everyone to understand how much profit they are likely to make from mining a certain cryptocurrency.

Taking a look at these calculators will be worthwhile in deciding the most profitable crypto to mine. That said, take note that the projected yield is never guaranteed. Ultimately, the profitability of mining will depend on broader market conditions.

Conclusion

We’ve extensively researched the crypto mining market to bring you a list of the best coins to mine today. The list is based on unbiased and current data for each coin. It goes beyond listing the cryptocurrencies, providing practical advice on where and how to mine them. This is aimed to help you start mining immediately as safely and effectively as possible.

Cryptoassets are a highly volatile unregulated investment product.

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