Crypto mining is the method wherein new digital coins are created and brought into motion. One way to get exposure to the crypto industry without buying cryptocurrencies directly is to invest in companies that are involved in the industry.
It’s no secret that mining cryptocurrency can be a lucrative way to earn extra income. But with so many currencies to choose from, it can be hard to know which ones are worth mining.
Fortunately, we’ve put together this guide to the best coins to mine this 2022.
There is no doubt that Bitcoin remains the most popular cryptocurrency today. More than a decade after its creation, this digital token continues to be in high demand.
The bitcoin price today is hovering around $21,000, a significantly lower value than the all-time high of $68,000 in November 2021. However, it is still an impressive price point considering that bitcoin has a hard cap supply of just 21 million tokens.
Meaning if you invest in Bitcoin now, there’s a good chance that the price will be higher in the future. However, it is expected to be resource-intensive and costly. You can help alleviate this problem using cloud mining platforms such as ECOS.
Ethereum is the second most valuable cryptocurrency after Bitcoin. The Ethereum network is home to multiple decentralized applications, including smart contracts and NFTs.
Ethereum is often considered one of the best crypto winter tokens due to its various use cases. Launched in 2015 at an ICO price of just $0.30, each ETH token is traded for around $1,500.
The price of Ethereum has increased roughly 500,000% over the past year. With a transition to Proof-of-Stake (PoS) consensus and the removal of mining, Ethereum is poised to become even more treasurable.
The Shibu Inu-themed cryptocurrency started life as a joke. It has maintained its light-hearted approach even as it has become one of the top 10 cryptocurrencies by market capitalization.
When running through a mining pool, it will only take a moment to add DOGE to a blockchain ledger. The productivity will depend on the market price of the token. At the time of writing, the doge price is $0.058, which means that each dogecoin is worth just over half a cent.
Ethereum Classic is a decentralized platform that utilizes a Proof-of-Work consensus and runs smart contacts. Despite that, the cryptocurrency has not been as successful as Ethereum in market capitalization or token holders.
Recently, Ethereum shifted to a PoS blockchain, which led many miners to hurdle to Ethereum Classic. This change could help Ethereum Classic become more stable and secure. Moreover, ETC has a permanent stock of 2 billion tokens, unlike ETH.
Helium is a decentralized wireless network that enables low-power devices to connect to the internet. The Helium network is incredibly energy-efficient, making it ideal for powering the ever-growing Internet of Things.
The Helium network is powered by a new cryptocurrency called HNT, or Helium tokens. Users can earn HNT by setting up routers in their homes or other locations and providing connectivity to others. On the other hand, it is also possible to gain access to Helium tokens via mining.
Another promising new blockchain platform is Solana, which supports smart contacts like Ethereum and Ethereum Classic.
Solana is ideal for applications requiring a large number of transactions to be processed quickly and cheaply. With the Solana price expected to increase, staking SOL tokens could be a very lucrative way to earn some extra income from holding the token.
While Solana may be the biggest crypto competitor in the market right now, Cardano has a few key advantages that may give it the edge in the long run. Cardano was designed from the ground up to support smart contract functionality.
It can be used for various applications, from financial services to supply chain management. This platform is the first blockchain created using evidence-based methods, peer-reviewed research, and formal mathematical proofs.
The network is divided into five stages, each introducing new capabilities. In Phase 3, Cardano will introduce support for sidechains and introduce governance. Cardano’s native token, ADA, can also be mined via staking.
With the rise of digital currencies, crypto mining has become a popular way to invest in these new assets. We’ve discussed the best cryptocurrencies to mine in 2022 and their potential for earning.
No matter which coin you decide to mine, do your research first. There are a lot of scams out there, so it’s essential to be careful when choosing a mining pool or service.