As the mining difficulty increases and block rewards halve each year, you might be wondering which is the best coin to mine when 2020 starts?
Selecting the Right Crypto
Before listing the best crypto mining options, there are several factors you should take into account when selecting a coin:
- The price of the crypto: A higher price means a higher mining profit;
- Block reward & halvings: If a block halves too often, you will have a reduced block reward;
- The interval at which a new block is generated: The probability of getting a reward is higher if the network generates the block;
- Mining difficulty and hash rate: Higher miner competition means a greater mining difficulty which requires better hash rates;
- The price of mining hardware: For cryptos with greater difficulties, you will need more powerful equipment, which is also more expensive;
- The cost of electricity: Miners require electricity to function;
- The coin is supported on multiple exchanges;
- The coin is traded against fiat pairs.
Zcash was launched in October 2016, and so far, it has managed to remain relevant on the crypto market all these years. The coin is one of the most mined cryptos ever, as Zcash enables users to perform transactions while completely anonymous through zero-knowledge proof zk-SNARKs implementation.
Also, the fees for Zcash transactions are really low, so it is a convenient coin to trade and can be found on dozens of exchanges.
Zcash forked from Bitcoin and, like its parent coin, Zcash’s total supply is limited to 21 million coins.
ZEC can be mined using either ASIC miners or powerful GPUs.
The first block halving is scheduled to occur in late 2020.
- Algorithm: Proof-of-Work;
- Hashing Function: Equihash;
- ROI: -99.16%;
- Price: $36.12;
- Block Mining Reward: 10 ZEC;
- Block time: 2m 27s.
Ethereum currently ranks as the second coin on the market; thus it is the best coin to mine for the following year.
Ethereum is an open-source and decentralized platform that enables DApp development, smart…